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Black_prince [1.1K]
2 years ago
9

After retirement, you expect to live for 24 years. You would like to have $75,000 income each year. How much should you have sav

ed in your retirement account to receive this income, if the annual interest rate is 9 percent per year
Business
1 answer:
poizon [28]2 years ago
5 0

Answer:

The amount that you should have saved in your retirement account to receive this income is:

= $727,995.88.

Explanation:

a) Data and Calculations:

Expected lifespan = 24 years

Expected annual income = $75,000

Interest rate per year = 9%

The amount of savings in the retirement account to receive this income is calculated from an online financial calculator as follows:

N (# of periods)  24

I/Y (Interest per year)  9

PMT (Periodic Payment)  75000

FV (Future Value)  0

 

Results

PV = $727,995.88

Sum of all periodic payments = $1,800,000.00

Total Interest = $1,072,004.12

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trapecia [35]

Answer:

people care more about their own surplus than they do about total surplus. 

Explanation:

Price control can either be a price ceiling or a price floor.

A price ceiling is when the government or an agency of the government sets the maximum price for a good or service. It is usually set below equilibrium price.

Price ceiling increase consumer surplus and reduce producer surplus.

A price floor is when the government or an agency of the government sets the least price a good or service can be sold. It is usually set above equilibrium price.

Price floor increases producer surplus and reduces consumer surplus.

Producers would be advocating for a price floor because it increases their surplus, while, consumers would advocate for a price ceiling.

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.

Producer surplus is the difference between the price of a product and the least price the seller is willing to sell the product.

I hope my answer helps you

7 0
3 years ago
What is a federal reserve note in simple terms?
valina [46]
Federal reserve notes are the marks on money like the serial number, U.S emblems, and the signatures. They show that the money is an American Dollar.
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3 years ago
Bradley, the president of Commerce & Trade, Inc., claims that certain actions by the federal government and the state of Del
olga nikolaevna [1]

Answer:

The correct answer is B

Explanation:

The Bill of Rights is the one which guarantees the liberties as well as the civil rights to the individual such as the religion, press and freedom of speech.

It states the rules for the procedure which is due for the law and also reserves all the powers not delegated to the Federal Government to the States or the people.

Therefore, the one where all the rights limit the federal government.

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galina1969 [7]

Answer:

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Explanation:

Standing -

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The expected return on monetary funding is the predicted fee of its return. it is a measure of the middle of the distribution of the random variable this is the return.

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