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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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In this report, there are three variables being mentioned. These are:

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In this problem, I believe what we are asked to do is to identify the type of variable the 2nd variable is. We are given that the 2nd variable is “7 jumps”.  This means that the 2nd variable is quantitative because it refers to or relating to a measurement of something rather than the quality. We also know that jumps can only take whole numbers, not decimal. Therefore it is also discrete. Hence, the 2nd variable is:

quantitative and discrete

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3 years ago
The slope of the production possibility frontier is determined by the _____ of expanding production of one good, measured by how
Ket [755]

Answer:

The correct answer is the opportunity cost of producing a good.

Explanation:

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The opportunity cost of a good is the amount of other good sacrificed to produce this one.

The slope of production possibility curve represents the opportunity cost of producing a good.

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3 years ago
What is the document that the marketing researcher pledges to deliver as a result of the marketing research process?
dezoksy [38]

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2 years ago
A client recently purchased a sizeable number of mutual fund shares and knows that the Net Asset Value will change daily. The cu
julsineya [31]

Answer:

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Explanation:

The Net asset value(NAV) of any mutual fund corporation can be determined using below mentioned formula:

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Based on the above formula, the statement which best describe the computation  to arrive at NAV per share is

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Because goods in a competition market are homogenous, if a firm increases it's price, customers would go and buy the product from the firm that sells at the market price.

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