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
MrRissso [65]
3 years ago
10

I can only put away $2,000 a year toward retirement. I am 25 and plan on retiring at 65 and earning 5%. How much will I have at

retirement?
Business
1 answer:
Scorpion4ik [409]3 years ago
3 0

Answer: $241,600

Explanation:

As this amount is a constant amount, it is an annuity. To find out the total amount after a certain period of time, use the future value of annuity formula.

Future value of annuity = Amount * [ {( 1 + rate) ^number of periods - 1} / rate]

Number of periods = 65 - 25 = 40

Future value of annuity = 2,000 * [ {(1 + 5%)⁴⁰ - 1} / 5%]

= 241,599.54

= $241,600

You might be interested in
There are four functions of management: planning, leading, organizing and controlling. The controlling function of management is
Fantom [35]

Answer: True

Explanation:

Proper planning without control is futile, this is because a blue print may have been put in place in the planning process but it becomes imperative for management to set up institutions or machineries to ensure that plans are executed as expected and there are remedial actions or plans in place in the event when unexpected events come up to distort achievement of the goal.

Proper control leads to achievement of organizational goals.

6 0
3 years ago
Mike purchases a new heavy-duty truck (5 year class recovery property)I for his delivery service on March 30.2019. No other asse
zzz [600]

Answer:

i dont know sorry

Explanation:

4 0
3 years ago
What type of résumé presents the job seeker's characteristics and experience in terms that accommodate the computer search proce
Reil [10]
The correct answer is keyword resume.
Here, you would use keywords to refer to your characteristics and experience, so that the computer can search the document according to the specific requirements the employer needs - so if no such requirements are met by your resume, you may not get the job.
3 0
3 years ago
Abby, Bobbi, and Deborah each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and
umka2103 [35]

Answer:

b. The slope of the budget constraint is the same for each woman.

Explanation:

Budget Line is the combination of two goods that a consumer can buy, given prices & money income (all spent).

Equation : p1x1 + p2x2 = m ;

where p1 & p2 are price of good 1 & 2 , x1 & x2 are quantities of good 1 & good 2 , m = money income  

  • Abby's Budget Line : 5I + 8N = 80
  • Bobbi's Budget Line : 5I + 8N = 60
  • Deborah's Budget Line : 5I + 8N = 40 [ I = Icecream, N = Novel ]  

Slope of Budget Line represents change (sacrifise) of a good needed to get change (gain) of other good, given same prices & income.

Slope = ΔY/ΔX = Px / Py

Since prices are same for each woman, price ratios & hence the slope of budget line will also be same for all of them.

3 0
3 years ago
An ideal prospect for a universal life insurance policy is someone who foresees a possible future need to adjust the amount of t
pshichka [43]

Answer:

The correct answer is 4

Explanation:

Universal life insurance is the insurance which is an element of the investment savings and the low premiums such as the term life insurance. These policies have a option of the flexible premium and however, some of the policies require fixed premiums or the single premium.

So, the ideal prospect of the policy states that the premium payments are deposited into the General account of the life insurance company not in the separate account. These policy control the investment not the policyholders.  

4 0
3 years ago
Other questions:
  • What are unlawful questions to ask during an interview
    14·2 answers
  • Indicate which of the functions of money (a medium of exchange, a unit of account, and a store of value) each of the following p
    12·1 answer
  • In business, managers and employees are faced with many decisions. Management writer Ken Blanchard and religious leader Norman V
    8·1 answer
  • Your bank is offering you an account that will pay 20 % interest in total for a​ two-year deposit. Determine the equivalent disc
    14·1 answer
  • Information concerning Department A of Synergy Company for the month of June is as follows: Materials Units Costs Work in proces
    5·1 answer
  • Beckner Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply ov
    11·1 answer
  • Dinham Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-d
    11·1 answer
  • You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $
    5·1 answer
  • Do you think percentage gains
    11·2 answers
  • Tzunam Corp. is preparing its cash budget. It expects to have sales of $30,000 in January, $35,000 in February, and $30,000 in M
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!