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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  

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Answer:

The correct answer is it becomes variable cost.

Explanation:

In the short run there are fixed costs and variable costs which sum up the total costs incurred. This is because in short run not all factors are variable, some factors are fixed as well. So, expenses on fixed factors come under fixed and those on variable factors come under variable costs.

In the long run though, all the factors are variable. All factors can be changed. So there are no fixed costs in the long run run. All the costs incurred on all factors become variable costs.

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A number of security/intrusion detection firms exist in the market. Research one of these firms and report on its services, cost
aleksandrvk [35]

Answer:  

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3 years ago
kim just graduated from high school next fall she will live in the dorms while attending a state college in colorado what three
Kamila [148]

Answer:

Explanation:

I would recommend the following financial services:

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