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
Step2247 [10]
3 years ago
13

You have just made your first $5,000 contribution to your individual retirement account. Assuming you earn an annual rate of ret

urn of 9.75 percent and make no additional contributions, what will your account be worth when you retire in 45 years
Business
1 answer:
Zielflug [23.3K]3 years ago
5 0

Answer:

the future value is $328,983.26

Explanation:

The computation of the amount that would be retired in 45 years is shown below:

As we know that

Future value = Present value × (1 + interest rate)^time period

= $5,000 × (1 + 9.75%)^45

= $328,983.26

Hence, the future value is $328,983.26

You might be interested in
In a process costing system, the application of factory overhead usually would be recorded as an increase in: (CPA adapted) A. F
otez555 [7]

Answer: Factory overhead control

Explanation: Factory overhead is the account where the amount of cost incurred while manufacturing a product is recorded and no direct labour or material is recorded. When the manufactured goods are finished and produced they are recorded as expenses when the goods are sold as manufactured finished products.

All the expenses related to the factory are included in this account such as rent, utility, electricity, supplies, tools. Factory overhead is known as manufacturing burden or expenses.  

7 0
3 years ago
You’ve decided to buy a house that is valued at $1 million. You have $250,000 to use as a down payment on the house, and want
LuckyWell [14K]

Answer: $6581.58

Explanation:

Based on the information given in the question, the mortgage payment per month will be calculated thus:

= [P x I x (1+I)^N]/[(1+I)^N-1]

where,

P = Principal = $750000

I = Interest rate per month = 10%/12 = 0.10/12 = 0.008333

N = number of installments = 30 × 12 = 360

Then, the equated monthly installment will be:

= [750000 × 0.008333 × 1.008333^360] / [1.008333^360-1]

= [750000 × 0.008333 × 19.8350386989] / [19.8350386989 - 1]

= 123964/18.835

= 6581.58

Under this loan proposal, your mortgage payment will be $6581.58 per month.

4 0
2 years ago
Two ways in which best bank can adapt to the challenges of the macro environment​
cupoosta [38]

Answer:

Mergers or Information Management

Explanation:

Mergers-In order to respond to certain challenges, businesses may choose to merge with another business. The new business will have a larger market share than either of the original businesses did.

Information management -All changes lead to new information that needs to be distributed to all the relevant parties.

Information must be managed efficiently and a system must be in place so that the relevant staff can easily access it.

Information must be protected and kept secure to protect the company's intellectual property.

7 0
2 years ago
Rather than generating tax revenue as do tariffs, subsidies require tax revenue. Therefore, they are not an effective protective
KatRina [158]

Yes. Subsidies are benefits that the government can grant to institutions, households and businesses to promote economic efficiency and reduce market failures. They may be distributed through cash or by cutting tax rates. However, there is controversy about the effectiveness of using subsidies for the economy, often related to the inefficiency of promoting a free market, allocating resources that could be used for investment in productive resources and masking the results of economic efficiency. Another major concern with the use of subsidies is the formation of political alliances of those who receive them and those who provide them, creating political interests because of their use.

6 0
3 years ago
What was the only thing Amazon sold when it first opened 25 years ago
Kisachek [45]
Amazon was originally an online bookstore
6 0
2 years ago
Read 2 more answers
Other questions:
  • What makes a self-managed team unique? Members of the team are given administrative oversight for their task area. Staff members
    8·2 answers
  • A company that has no money to spend on marketing would probably be best advised to try their luck, at least initially, with wha
    14·1 answer
  • Which of the following types of pronouncements are intended to establish the objectives and concepts that the FASB will use in d
    14·1 answer
  • What should you plan for first when creating a budget
    14·1 answer
  • An investment offers to double your money in 30 months (don’t believe it). What rate per six months are you being offered? (Do n
    10·2 answers
  • What would be the approximate value of the coefficient of correlation between advertising and sales where a company advertises a
    10·1 answer
  • Operations management is​ applicable:
    8·1 answer
  • our business plan calls for sales of $45,000 in year 1 with compound growth of 30% per year thereafter. What are your projected
    14·1 answer
  • Assume that you are nearing graduation and have applied for a job with a local bank. As part of the bank's evaluation process, y
    15·1 answer
  • QuestionA baseball team is deciding where to celebrate their tournament victory. They decide between two restaurants by voting,
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!