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Setler79 [48]
3 years ago
7

If Jane Key invests $18,527.74 now and she will receive $40,000 at the end of 10 years, what annual rate of interest will she be

earning on her investment?
A. 8.5%
B. 10%
C. 8%
D. 9%
Business
1 answer:
SSSSS [86.1K]3 years ago
4 0

Answer:

C. 8%

Explanation:

Future value factor:

= $18527.74 / $40000

= 0.4631935

At 8% for 10 years the future value factor is 0.4631935

Note: Proof of calculation is attached below as picture

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3 years ago
Your father is about to retire, and he wants to buy an annuity that will provide him with $91,000 of income a year for 25 years,
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Answer:

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Explanation:

A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity.

Formula for Present value of annuity is as follow

PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]

Where

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4 0
3 years ago
An employee earned $4,600 in February working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,4
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Answer:

Net Pay $3094.10 is the answer.

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5 0
3 years ago
To: Ellen Stanford From: Thomas Gregory [1] Proposed Agenda for November 6 Meeting Dear Ms. Stanford, [2] Please review the foll
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Answer:

Parts of Email:

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Emails can be divided into six major components:

1. Subject Line: Proposed Agenda for November 6 Meeting

2. Greeting: Dear Ms. Stanford

3. Intro/Purpose: Please review the following agenda for our next shareholder meeting and recommend any changes.

4. Details: Agenda for our next shareholder meeting

• Rising stock prices

• Discussion of new investors

• Portfolios and new funding

• Introduction of new vice-president

5. Ask/Action: Please send any changes to the agenda to me by 3:00 p.m., November 3.

6.Closing/Sign-off:  Many thanks, Thomas Thomas Gregory Financial Analyst Office: 854.454.4356 Fax: 435.458.9738 Cell: 834.435.8490

8 0
3 years ago
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Answer:

The answer is D.

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