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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

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3 years ago
The market risk premium is 9.0%, and the risk-free rate is 5.0%. If the expected return on a bond is 9.5%, what is its beta?
leva [86]

Answer:

The beta is 1

Explanation:

The computation of beta using the CAPM model is shown below:

As we know that

Expected rate of return = Risk free rate of return + Beta × Market risk premium

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We simply applied the above formula so that the correct value could come

And, the same is to be considered  

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2 years ago
Frank is a married man with 2 children. he wishes to buy life insurance policy that will pay out when he dies. What type of poli
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3 years ago
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The intangible assets section of Marigold Corporation's balance sheet at December 31, 2022, is presented here.
fredd [130]

Answer:

Journal entries to record the 2023 amortization expense for intangible assets.

Date        Accounts Titles and Explanation       Debit       Credit

Dec 31     Amortization Expense—Patents         $14,180

              ($71,800*1/10 + $45,000 * 1/9

                + $40,000*1/10*6/12)

                           Patents                                                       $14,180  

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Dec 31     Amortization Expense - Copyrights    $6,335

               ($50,500*1/10 + $257,000*1/50*3/12)

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3 years ago
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