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
Crank
2 years ago
11

A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 8 percent. U

se Appendix A and Appendix C to answer the questions. Round your answers to the nearest dollar. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 40
Business
1 answer:
lana [24]2 years ago
6 0

Answer:

$146,212.00  

Explanation:

PMT which is the annual savings is $2000

Rate  is 8%

The annual savings would last for 25 years(65-40)

FVIFA FACTOR=(1+r)^n-1/r

r=8%

n=25

FVIFA FACTOR=(1+8%)^25-1/8%

FVIFA FACTOR=(1.08)^25-1/0.08

FVIFA FACTOR=(6.848475196-1)/0.08=73.106

Amount in the account at retirement=PMT*FVIFA FACTOR

Amount in the account at retirement=$2000*73.106=$146,212.00  

You might be interested in
Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes.
Sergio [31]

Answer:

M2

M1 M2

M2

Explanation:

7 0
3 years ago
How do you find the total fixed cost using the table
iogann1982 [59]

Answer:

Total cost (TC) = Total variable cost (TVC) + Total fixed cost (TFC)

Therefore,

Total fixed cost = Total cost - Total variable cost

hope am helpful

6 0
1 year ago
Read 2 more answers
Higher interest rates result in less borrowing as ________ business projects become viable for a profit.
Elan Coil [88]
Would loans be a answer?
4 0
3 years ago
Paper Co. had net income of $70,000 during the year. Dividend payment was $10,000. The followinginformation is available:Mortgag
Marina CMI [18]

Answer:

net cash provided by operating activities 60,000

Explanation:

net income  70,000

Change in working Capital

Increase Inventory (40,000)

Increase Account payable 30,000

Net change in working capital  (10,000)

net cash provided by operating activities 60,000

The working capital is the current asset and current liabilities.

the dividend, bonds and mortgare are not operating activities.

the securities are considered cash.

3 0
3 years ago
The ____ is an award given by the president of the united states to organizations that apply and are judged to be outstanding in
Rashid [163]
The answer to the question is the "Malcolm Baldrige National Quality Award". This is the type of award that was granted or given by the president of the United States to organizations that implement and are judged to be outstanding in specific managerial tasks such as will result in the improvement of products and services.
6 0
3 years ago
Other questions:
  • Lease A does not contain a bargain purchase option, but the lease term is equal to 90% of the estimated economic life of the lea
    10·1 answer
  • 6) For the monopolist, marginal revenue is always less than the price of the good.7. The monopolist chooses the quantity of outp
    9·1 answer
  • Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead
    9·1 answer
  • Digital marketing isn't just about selling your products internationally. It can be used to great effect for local businesses. W
    13·1 answer
  • In double-entry accounting, where should you record money that is leaving your company to pay bills?
    14·1 answer
  • Most child care providers will never find themselves caring for a child with asthma.
    11·1 answer
  • The appropriate journal entry to transfer the cost of completed units from the Work in Process account would involve a credit to
    11·1 answer
  • Blue Ridge Hot Tubs manufactures and sells two models of hot tubs: the Aqua-Spa and the HydroLux. Howie Jones, the owner and man
    14·1 answer
  • Each of the following is an example of a fixed expense EXCEPT:
    14·1 answer
  • Please identify a firm using the various variables used in SCM and OHS&S as per legal requirements.​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!