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Katena32 [7]
3 years ago
14

Suppose when you are 21 years old, you deposit $1,000 into a bank account that pays 6 percent annual compound interest, and you

do not withdraw from the account until your retirement at the age of 65, 44 years later. How much will be in the account when you retire?
Business
1 answer:
Ratling [72]3 years ago
5 0

Answer:

amount = $12985.48

Explanation:

given data

principal = $1000

RATE = 6 %   = 0.06

Time = 44 year

to find out

How much will be in the account when you retire

solution

we will apply here amount formula that is

amount = principal × (1+r)^{t}       ...................1

put here value we get

amount = 1000 × (1+0.06)^{44}  

amount = $12985.48

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5 0
1 year ago
Globalization increases the interdependency of the world's countries. Inflation in one country would most likely
Lina20 [59]
The correct answer for the question that is being presented above is this one: "D. relate to inflation in other countries." Globalization increases the interdependency of the world's countries. Inflation in one country would most likely <span>relate to inflation in other countries.</span>
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7 0
3 years ago
Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhe
Monica [59]

Answer:

Variable overhead variance  = $1,440 unfavorable

Explanation:

The variable overhead efficiency variance is the difference between the actual hours and the standard hours for the actual output valued at the standard variable overhead rate per hour.

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standard hours for the actual output       4,190

Actual hours                                               <u>4,350</u>

Efficiency variance                                        160 unfavorable

Standard rate per hour(see note)              × <u>  $9  </u>    

Variable overhead variance                       1,<u>440 </u>unfavorable

                       

Standard variable rate per machine hour

= Budgeted overhead cost/Budgeted machine hour s

= $37,800/4,200 hours =$9 per machine hour

Variable overhead variance  = $1,440 unfavorable

4 0
3 years ago
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Answer:

Explanation:

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3 0
2 years ago
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Answer:

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