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
denpristay [2]
3 years ago
14

Sammy has worked for a company with a retirement program, and today is retiring from her job with the amount of $143 in her reti

rement account. She decides to withdrawal an equal amount from this account, once a year, beginning immediately, and ending 17 years from today (for a total of 18 payments). If the interest rate is 6.50%, solve for the annuity amount such that she uses up her full accumulation.
Place your answer to the nearest dollar amount. Do not use a dollar sign or comma as part of your answer. For example, an answer of fifty thousand and thirty two dollars would be placed as 50032. Work answers out to at least 4 decimal points of accuracy.
Business
1 answer:
Marta_Voda [28]3 years ago
7 0

Answer:

12870.62

Explanation:

I assume that Sammy has $143,000 on her retirement account.

this is an annuity due (the first distribution is received immediately), so we can use the present value of an annuity due formula to calculate the yearly distributions:

PV = payment x annuity factor

  • PV = $143,000
  • PV annuity due factor, 6.5%, 18 periods = 11.11058

payment = $143,000 / 11.11058 = $12,870.62

You might be interested in
A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is:
DanielleElmas [232]

Explanation:

हिन्दी में सुनें

Listen in English

A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is: an exemption. The Form 1040 is most helpful to a person who: itemizes deductions

6 0
3 years ago
Companies that provide employee support through ethical training programs (as opposed to companies that provide no training) gen
kati45 [8]

Answer:

True

Explanation:

As the ethics form the basic working nature for any organization, this results in representing the moral values of an organization.

This clearly depicts that the organization is represented through its employees and if employees are properly trained for the ethical behavior, this will definitely positively impact on the organization, also, the organization which do not provide any training for such the results are not that effective, as the ethics are not followed properly and ethics are not defined.

8 0
4 years ago
Sam was injured in an accident, and the insurance company has offered him the choice of $25,000 per year for 15 years, with the
stiv31 [10]

Answer:

The lump sum be of $237,228.84

Explanation:

In order to calculate how large must the lump sum be we would have to use  and calculate the formula of Present value of annuity due as follows:

Present value of annuity due=(1+interest rate)*Annuity[1-(1+interest rate)^-time period]/rate

Present value of annuity due=(1+0.075)*$25,000[1-(1.075)^-15]/0.075

Present value of annuity due=$25,000*9.489153726

Present value of annuity due=$237,228.84(Approx)

The lump sum be of $237,228.84

6 0
4 years ago
Find the velocity and position vectors of a particle that has the given acceleration and the given initial velocity and position
Murljashka [212]

Answer:

v(t) = (2t + 1)i + 3t²j + 4t³k

r(t) = (t² + t)i + (t³ + 7)j + (t⁴ - 4)k

Explanation:

a(t) = 2i + 6tj + 12t²k

v(t) = ∫a(t)dt

     = ∫(2i + 6tj + 12t²k)dt

     = 2ti + (6t²/2)j + (12t³/3)k + c

     = 2ti + 3t²j + 4t³k + c

v(0) = i

    i = 0i + 0j + 0k + c

    c = i

∴ v(t) = 2ti + 3t²j + 4t³k + i

v(t) = (2t + 1)i + 3t²j + 4t³k

r(t) = ∫ v(t)dt

    = i ∫ (2t + 1)dt + 3j ∫ t²dt + 4k ∫ t³dt

    = i (2t²/2 + t) + 3j(t³/3) + 4k(t⁴/4) + d

    = i (t² + t) + jt³ + t⁴k + d

r(0) = 7j - 4k

0i + 0j + 0k + d = 7j - 4k

d = 7j - 4k

∴ r(t) = (t² + t)i + t³j + t⁴k + 7j - 4k

r(t) = (t² + t)i + (t³ + 7)j + (t⁴ - 4)k

8 0
3 years ago
Why do we have to pay for brainly? brainly should be a completely free to help children in need with work they dont understand a
Vitek1552 [10]

Answer:

You have to pay??? I don't‍♀️

6 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following are examples of a firm experiencing positive technological​ change?a. A firm is able to cut each​ worker'
    7·1 answer
  • ______ is the process of reducing the workforce through eliminating jobs, which cuts costs and improves efficiency.
    7·1 answer
  • Candidates begin campaigning among the elite members of their own parties long before any primaries or caucuses, in a period kno
    10·1 answer
  • What is the present value of a $1,200 payment made every year forever when interest rates are 4.5 percent
    7·1 answer
  • On January 1, 20X4, Polar Corp. paid $104,000 for $100,000 par value, 9% bonds of Seal Corp. Seal had issued $300,000 of the 10-
    9·1 answer
  • An agent who buys and sells securities from inventory is called a: 1) broker. 2) commission broker. 3) floor broker.4) floor tra
    5·1 answer
  • Which statements describe headings?
    7·1 answer
  • Paul & Griffon manufactures and markets many products you use every day. In 2016, sales for the company were $86,000 (all am
    6·1 answer
  • How do unions help workers?
    14·2 answers
  • The cost of a high-quality 250-horsepower compressor was $13,500 when recently purchased. What would a 608-horsepower compressor
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!