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DanielleElmas [232]
3 years ago
8

You plan on making a $235.15 monthly deposit into an account that pays 3.2% interest, compounded monthly, for 20 years. At the e

nd of this period, you plan on withdrawing regular monthly payments. Determine the amount that you can withdraw each month for 10 years, if you plan on not having anything in the account at the end of the 10 year period and no future deposits are made to the account.
Business
1 answer:
erma4kov [3.2K]3 years ago
8 0

Answer:

Monthly payment = $769.27

Explanation:

First we have to determine the future value of the ordinary annuity:

Payment = $235.15

N = 20 * 12 = 240

Rate = 3.2% / 12 = 0.267%

Using a financial calculator and the FV function, the FV = $78,910.41

Again, using the financial calculator or Excel, you can determine the monthly payment:

N = 10 / 12 = 120

Rate = 0.267%

PV = $78,910.41

FV = $0

Monthly payment = $769.27

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3 years ago
The personnel director at a large company studied the eating habits of the company's employees. the director watched and recorde
valina [46]

The answer is<u> "An experiment."</u>


An experiment refers to a controlled study in which the scientist endeavors to comprehend circumstances and end results connections. The examination is "controlled" as in the analyst controls (1) how subjects are relegated to gatherings and (2) which medicines each gathering gets.  

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3 years ago
Keiko manages a team of graphic designers. She distributes a document describing in detail each task for an upcoming project. Ea
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Answer:

responsibilities scope

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3 years ago
Erie company has 500 units of capacity for their traditional product, Emu, and buys one point of automation. If Erie company’s c
11111nata11111 [884]

Answer: 2 years

Explanation:

The payback period is the amount of time that is needed for the required cash inflow of a project to offset the initial cash outflow that the business offsets. The payback period is when the initial outlay of an investment is recovered. There are two different methods used to calculate payback period. We have the average method and the subtraction method.

In the above question, the payback period is solved as follows:

Labour cost decreases by 10% for each unit.

Therefore,

= $10 × 10%

= $10 × 0.1

= $1 per unit.

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= 2000units.

If Eric sells 1000 units per year of Emu, it will take:

2000/1000= 2years

In conclusion, the payback period of the investment is 2 years.

8 0
3 years ago
Provide the names of two (a) asset accounts, (b) liability accounts, and (c) equity accounts.
tamaranim1 [39]

Answer:

two (a) asset accounts

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two libability accounts

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two equity accounts

  • Common stock, the most typical form of equity.
  • Retained earnings, income that is left after paying dividends.

Explanation:

3 0
3 years ago
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