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Bond [772]
3 years ago
6

To fund your dream vacation, you plan to save $1,475 per year for the next 15 years starting one year from now. If you can earn

an interest rate of 6.25%, how much will you have saved for your vacation?
Business
1 answer:
muminat3 years ago
3 0

Answer:

FV= $34,993.05

Explanation:

Giving the following information:

Annual deposit= $1,475

Number of periods= 15 years

Interest rate= 6.25%

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

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

A= annual deposit

FV= {1,475*[(1.0625^15) - 1]} / 0.0625

FV= $34,993.05

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Total output of an economy can be divided into its alternative uses by considering who bought the output. when other countries purchase part of an economy's output, this is called Gross Domestic Product [GDP],

<h3>Gross Domestic Product</h3>

The total monetary or market worth of all the finished goods and services produced within a nation's boundaries during a certain time period is known as the gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation because it is a wide indicator of total domestic production.

Although it is often calculated on a yearly basis, GDP can also be computed on a quarterly basis. For instance, the US government estimates the annualized GDP for the entire year as well as each fiscal quarter.

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6 0
2 years ago
Career selection should be based on salary alone. Please select the best answer from the choices provided T F
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Answer: False, career selection should not be based on salary alone.

Explanation: When choosing a career it is important to consider several aspects such as your abilities to perform the task the job requires and how much you would enjoy the job.

7 0
3 years ago
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When the market rate is 8%, a company issues $50,000 of 9%, 10-year bonds and pay interest semiannually for a selling price of $
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6 0
3 years ago
Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under th
olchik [2.2K]

Answer:

First option will be recommended.

Explanation:

To determine which option to be taken, we calculate the net present value each option generates. The option generating higher NPV should be recommended.

- Net present value of first option = Lump sum receipt = $150,000.

- Net present value of second option will be found by discounting cash flows at investing rate 12% and calculated as followed:

 +  Present value of 20 equal annual payment of $14,000 + Present value of $60,000 paid in 20 years = (14,000/12%) x [ 1 - 1.12^(-20)] + 60,000/1.12^20 = $110,792.

As net present value of the first option is higher than the second option, first option will be recommended.

8 0
3 years ago
Who is responsible for fiscal​ policy?
TiliK225 [7]

Answer:

C. The federal government controls fiscal policy. 

Explanation:

Fiscal policy are policies enacted by the government using its spending or taxes to stabilise the economy. There are two types of fiscal policy, expansionary and contractionary fiscal policy.

1. Expansionary fiscal policy is a policy that increases the money supply in an economy. They include :

A. Reduction of taxes - this increases disposable income and increases consumer spending which increases money supply.

B. Increased government spending- this is when government increases its spending usually on public projects.

2. Contractionary fiscal policy are policies that reduces the money supply in an economy. They include:

A. Increase in taxes- an increased tax reduces disposable income and money supply in an economy.

B. Reduced government spending - reduced government spending reduces money supply.

Monetary policy is policy controlled by the Federal Reserve.

I hope my answer helps you.

3 0
3 years ago
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