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
meriva
3 years ago
13

BE6.10 (LO 4) Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much must he

invest today if the first withdrawal is at year-end
Business
1 answer:
marin [14]3 years ago
3 0

Answer:

$201,302

Explanation:

Calculation for How much must he invest today if the first withdrawal is at year-end

First step is to calculate (FVF-OAn,i) using financial calculation

R = 30,000

n = 10

i = 8%

(FVF-OAn,i)=(6.71008)

Now let calculate the amount to be Invested today using this formula

Investment today = R (FVF-OAn,i)

Let plug in the formula

Investment today= 30,000 (6.71008)

Investment today = $201,302

Therefore the amount he must invest today if the first withdrawal is at year-end is $201,302

You might be interested in
Free brainliest to first person
yarga [219]

Answer:

Hi

Explanation:

8 0
3 years ago
Read 2 more answers
The manufacturing overhead budget at Cutchin Corporation is based on budgeted direct labor-hours. The direct labor budget indica
Setler [38]

Answer:

$59,080

Explanation:

The calculation of September cash disbursements is shown below:-

September cash disbursement = Company's budgeted fixed manufacturing overhead - Depreciation + Variable manufacturing overhead

= $43,120 - $3,640 + $7.00 × 2,800

= $43,120 - $3,640 + $19,600

= $62,720 - $3,640

= $59,080

Therefore for computing the September cash disbursement we simply applied the above formula.

4 0
3 years ago
2 Points
Serhud [2]

Answer:

The minimum wage

Explanation:

5 0
3 years ago
How do you make a deposit form?
Anna11 [10]
A deposit is a sum of money placed or kept in a bank account, usually to gain interest
6 0
4 years ago
Sealed Bidding is appropriate when discussion/negotiations are required to determine price and delivery terms?
denpristay [2]

Answer:

B. False

Explanation:

In a sealed bidding, bidders have no opportunity to discuss/negotiate. They just present an offer adjusted to the terms of the requirer of the good or service that is submitted to bidding.

4 0
3 years ago
Other questions:
  • Which of the following statements is true of a mission statement?
    11·2 answers
  • Sam has $65 to spend on clothes. he wants to buy a pair of jeans for $29 and spend the rest on t-shirts. each t-shirt costs $9.
    5·1 answer
  • Which of the following is a way developing nations are trying to raise living standards? A. Return to traditional ways of farmin
    11·2 answers
  • Historically the stock market goes up when there is bad news on unemployment. The latest statistics show the unemployment rate i
    13·1 answer
  • All of Gaylord Company's sales are on account. Thirty-five percent of the credit sales are collected in the month of sale, 45% i
    11·1 answer
  • According to Fair Employment Laws, it is illegal to discriminate on the basis of _____. a. age b. race c. sex d. all of the abov
    7·2 answers
  • A cost is $11,000 at 1,000 units, $12,000 at 2,000 units, and $13,000 at 3,000 units. Using the high-low method, how much is the
    7·1 answer
  • After marketers have defined a problem they need to solve, what is the next
    5·2 answers
  • If a lender wants to yield 5% on a 4.25% fixed rate loan, then what fees should the lender charge?
    5·1 answer
  • A model for enabling on-demand access to compute resources such as networking, analysis, storage and compute is called.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!