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Amanda [17]
2 years ago
11

You plan to save $6,500 per year for the next 8 years. After the last deposit, you will keep the money in the account for 6 more

years. The account will earn an interest rate of 6.8 percent. How much will there be in the account 14 years from today
Business
1 answer:
Marina CMI [18]2 years ago
5 0

Answer:

$98,254.57

Explanation:

Value after 8 years

Future Value of Annuity = P * ((1 + r)^n - 1 ) / r

Future Value of Annuity = 6500 * ((1 + 6.8%)^8 - 1) / (6.8%)

Future Value of Annuity = 6500 * [(1.69266113113-1) / 0.068]

Future Value of Annuity = 6500 * 10.18619

Future Value of Annuity = $66,210.24

Value after 14 years

FV = PV * (1 + r )^n

FV = 66210.26*(1+ 6.8%)^6

FV = 66210.26 * 1.483978

FV = $98,254.57

So, the amount that will be there in the account 14 years from today is $98,254.57.

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Mr. Romeri's actions in deceiving Ms. Conley were legal and ethical.
galina1969 [7]
Mr. Romeri's actions in deceiving Ms. Conley were legal and ethical --- this statement is FALSE. Deception is never legal nor ethical. Especially in this case where a man deceived a woman for his personal gain. This may be acquitted in some courts but normally this is not acceptable. 
4 0
3 years ago
Income statement under absorption costing and variable costing
Len [333]

Answer:

unitary product cost= $102

Explanation:

Giving the following information:

Manufacturing costs Direct materials per unit $60

Direct labor per unit $22

Variable overhead per unit $8

Fixed overhead for the year $528,000

Units produced= 44,000

The absorption costing method includes all costs related to production, both fixed and variable<u>. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. </u>

Fi<u>rst, we need to calculate the unitary fixed overhead:</u>

Unitary fixed overhead= 528,000/44,000= $12

<u>Now, the unitary product cost:</u>

unitary product cost= 60 + 22 + 8 + 12

unitary product cost= $102

4 0
3 years ago
Angela's monthly disposable income is ​$2 comma 3682,368. She has monthly expenses of ​$2 comma 1272,127 ​(including recreationa
Alchen [17]

Answer:

12.88%

Explanation:

Angela's disposable income $2,368

monthly expenses including recreational expenses ($2,127)

net cash flow $241

after expenses are reduced by $64, her net cash flow will increase to $305

Angela's monthly savings rate = (net cash flow / disposable income) x 100 = $305 / $2,368 = 12.88%

A person's savings rate is how much money they save (do not spend) compared to their total disposable income.

5 0
2 years ago
A nation's capital stock was valued at $300 billion at the start of the year and $350 billion at the end. Consumption of private
Alekssandra [29.7K]

Answer:

Gross investment will be equal to $175 billion

Explanation:

We have given nation's capital stock at the start = $200 billion

And capital stock at the end = $350 billion

Consumption of private fixed capital in the year = $25 billion

We have to find the gross investment

Gross investment is equal to

Gross investment =  Capital stock at the end of the year + consumption of private fixed capital - Capital stock at the starting of the year

= $350+$25-$200 = $175

So gross investment will be equal to $175 billion

4 0
3 years ago
A year ago, Phyllis Peterson purchased 100 shares of Fidelity's Contrafund for $50 each. During the year, her total return from
Y_Kistochka [10]

Phyllis' RATE (percentage) of return is 7 percent

<u>Explanation:</u>

Data provided in the question:

Purchase price for each share = $50

Dividend received = $1 per share

worth of shares at the end of year = $52.50

Thus, total return on the share  = dividend received plus worth of sahres at the end of year minus purchase price

= $1 plus $52.50 minus $50 = $3.5

Therfore, rate of return = [ total return on the shares by purchase price ] into 100%

= [$3.5 by $50] inot 100 percent

= 7 percent

hence, the option with 7 percent will be the correct answer.

6 0
3 years ago
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