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vagabundo [1.1K]
2 years ago
11

Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $4,00

0,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 5% annually. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal?
Business
1 answer:
inessss [21]2 years ago
4 0

Answer:

Annuity will be $33112.644  

Explanation:

We have given future value ( FV ) = $4000000

Rate of interest r = 5% = 0.05

Number of periods n = 40

We know that future value is given by Futurte\ value(FV)=\frac{A}{r}[(1+r)^n-1]

Here A is annuity

So 4000000=\frac{A}{0.05}[(1+0.05)^{40}-1]

200000=A[(1+0.05)^{40}-1]

200000=A\times 6.0399

A=$33112.644

So annuity will be $33112.644

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An examination of Hyong Corporation's inventory accounts revealed the following information:
andreyandreev [35.5K]

Answer:

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Explanation:

Giving the following information:

Raw materials, June 1: 46,000 units

Raw materials, June 30: 51,000 units

Purchases of raw materials during June: 185,000 units

<u>First, we need to calculate the raw material used in production:</u>

<u></u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 46,000 + 185,000 - 51,000

Direct material used= 180,000

<u>Now, the production for the period:</u>

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3 0
3 years ago
Given the following information, prepare an income statement for the Dental Drilling Company.
dmitriy555 [2]

Answer:

Results are below.

Explanation:

<u>Giving the following information:</u>

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<u>With the information listed above, we need to make an income statement following the structure below:</u>

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Gross profit= 390,000

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I’d say bad experience or struggles you have went through can strengthen you
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Therefore, the HR manager would advise management on how to lower the costs of the company, particularly in areas like compensation and benefits, training, and development.

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brainly.com/question/25806768

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The Consumer Price Index (CPI) is best used to determine
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The answer is<u> "B) the rate of inflation".</u>


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