1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olasank [31]
3 years ago
6

You are planning to make monthly deposits of $70 into a retirement account that pays 12 percent interest compounded monthly. If

your first deposit will be made one month from now, how large will your retirement account be in 24 years
Business
1 answer:
Brums [2.3K]3 years ago
6 0

Answer:

FV= $115,928.81

Explanation:

Giving the following information:

Monthly deposit= $70

Interest rate= 0.12/12= 0.01

n= 24*12= 288

<u>To calculate the future value, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

FV= {70*[(1.01^288) - 1]} / 0.01

FV= $115,928.81

You might be interested in
Bishop, Inc., is obligated to pay its creditors $8,900 during the year. a.What is the market value of the shareholders' equity i
Contact [7]

Answer:

The answer is $1,500

Explanation:

Accounting equation can be stated as follows:

Equity = Asset - Liability

Asset = Equity + Liability

Liability = Asset - Equity.

What a firm is obligated to pay its creditors is known as a liability and its value in the question is $8,900

The assets owned by the company totalled $10,400

Now to find market value of the shareholders' equity, we use:

Equity = Asset - Liability

$10,400 - $8,900

= $1,500

7 0
3 years ago
In a production process new raw materials are considered_____ whereas the finished products are considered______
loris [4]

Answer:

In a production process new raw materials are considered_____ whereas the finished products are considered______

WIP (Work IN Process)

Units for Sale/ Raw Material for other Processes

Explanation:

WIP (Work IN Process)

The raw material in WIP is converted to useful material for other processes.

Work in process consists of materials labor factory overhead or collectively called as conversion costs. In Work in Process these are completed fully or to a certain limit and send to other processes for further work.

Units For sale

Finished goods are ready for sale and send to desired stores or ware houses for storage and further dispatching to retail stores.

Sometimes these units further need servicing or processes in other departments to make a complex unit . In these situations they are considered raw material for other processes.

3 0
2 years ago
A $1 per unit tax levied on consumers of a good is equivalent to
Katen [24]

Based on accounting principles, a $1 per unit tax levied on consumers of a good is equivalent to "a $1 per unit tax levied on producers of the good."

This is based on the idea that the market reaches the exact equilibrium price irrespective of who is accountable for paying the money to the government.

In other words, when the government levies a tax on a good, producers are not exempted from the tax levy because that money will be recouped from the producers' sales or revenue.

Hence, in this case, it is concluded that tax on goods is inevitable to consumers and producers.

Learn more here: brainly.com/question/22680521

7 0
2 years ago
Any ideas on a gum packaging to send the gum to customers
Allisa [31]

Answer:

Grab some paper and wrap it around unchewed gum and do that for the amount of gum you want, Then put it in a small box.

3 0
3 years ago
Read 2 more answers
According to Douglas McGregor, team members that require supervision, direction and threat of punishment for non-compliance are
antoniya [11.8K]

Answer:

Theory X employees

Explanation:

Douglas McGregor formulated or constructed Theory X as well as Theory Y, which suggest or states two aspects of human behaviour at the work.

In short, 2 different views of the employees or individuals, one which comprise of negative aspects or views is the Theory X, and other one is Theory Y, which comprise of the positive aspects and the views of the people and employees.

So, in this case, the team members who need the supervision, threat of punishment and direction for the non - compliance will be the Theory X employees as it contain the negative aspects.

5 0
2 years ago
Other questions:
  • Estimate the effective annual rate (ear) for a continuously compounded annual nominal rate of 8.00%.
    6·1 answer
  • Journalize the following transactions for Armour Inc. using both the periodic inventory system and the perpetual inventory syste
    15·1 answer
  • Based on the following information, what amount would be subtracted from the bank balance side of a checking account reconciliat
    14·1 answer
  • The approach to ethical behavior which proposes that actions and plans should be judged by their consequences, thus producing th
    9·1 answer
  • What is a likely result of an increase in trade between nations
    9·1 answer
  • Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has
    13·1 answer
  • How would the following transactions affect U.S. exports, imports, and net exports?
    11·1 answer
  • The general ledger of Red Storm Cleaners at January 1, 2015, includes the following account balances:
    8·1 answer
  • Environmental sustainability concerns have declined steadily over the past three decades. True False
    13·1 answer
  • 4.3. Identify THREE benefits that could inspire one to avoid being unemployed after graduating (3x2) (6)​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!