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Anton [14]
2 years ago
12

You feel that you will need $2.2 million in your retirement account and when you reach that amount, you plan to retire. You feel

you can earn an APR of 10.2 percent compounded monthly and plan to save $305 per month until you reach your goal. How many years will it be until you reach your goal and retire
Business
1 answer:
dangina [55]2 years ago
5 0

Answer: 40.7 years

Explanation:

You can use Excel to sold for this using the NPER function.

Rate = 10.2% / 12 months = 0.85%

Payment is $305 per month

Present value is $0

Future value is $2,200,000

Number of periods = 488.1979353

In years this is:

= 488.1979353 / 12

= 40.7 years

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Calculate the overhead cost per unit for each Beaker Computer, using overhead rates based on machine hours and setup hours.
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7 0
2 years ago
On October​ 1, 2019, Fashion Jewelers accepted a​ 5-month, 11% note for​ $7,500 in settlement of an overdue account receivable.
Nataliya [291]

Answer:

The accrued interest on the note at December​ 31, 2019 is $206.25

Explanation:

Fashion Jewelers accepted a​ 5-month, 11% note for​ $7,500.

The amount of interest for 1 year = 11% x $7,500 = $825

The amount of interest for 1 month = $825/12 = $68.75

From October​ 1, 2019 to  December 31, 2019, Fashion Jewelers has accepted the note for 3 months.

The accrued interest on the note at December​ 31, 2019 = $68.75 x 3 = $206.25

7 0
3 years ago
Fill in the blanks to complete the passage about the law of one price. Drag word(s) below to fill in the blank(s) in the passage
Kipish [7]

Answer:

Consider the following explanation.

Explanation:

According to the law of one price, identical goods  

sold IN DIFFERENT LOCATIONS must sell for the same  

price, except for costs associated with MOVEMENT BETWEEN LOCATIONS.

Those costs reflect TRADE BARRIERS and the cost of shipping.  

According to the law of one price, if the price of a good  

in one location does not match the price of the same good in  

a different location, sellers will increase supply  

in the location where the good is MORE EXPENSIVE  

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5 0
3 years ago
Choose the best answer:
Juli2301 [7.4K]

Answer:

Option B is correct.

Explanation:

Option A is incorrect because the expected return must be greater than the marginal cost of the capital which means that the Net Present Value must be positive.

Option B is correct because the increase in cost of debt or capital would increase the weighted average cost of capital. This is because weighted average cost of capital is directly proportional to cost of capital sources.

Option C is incorrect because its not the cost of one of the capital sources, actually it is the weighted average cost of capital which when starts increasing at a point due to increase in the level of financing is known as breaking point.

So the only statement that is correct is option B.

Kindly don't forget to rate the answer. Thanks

3 0
3 years ago
Which of the following is not a disadvantage to cash advances on a credit card? a. Cash advances are similar to loans in that th
Dominik [7]
<span>The statement that is not a disadvantage to cash advances on a credit card is that (A) </span>Cash advances are similar to loans in that they need to be paid back with interest. When you ask for a cash advance, it <span>is a service provided by most </span>credit card<span> and charge </span>card<span> issuers. This will become a credit limit.</span>
7 0
3 years ago
Read 2 more answers
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