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
Andrej [43]
3 years ago
6

Bob makes his first deposit into an IRA earning compounded annually on his th birthday and his last deposit on his birthday ( eq

ual deposits in all). With no additional deposits, the money in the IRA continues to earn interest compounded annually until Bob retires on his th birthday. How much is in the IRA when Bob retires
Business
1 answer:
anygoal [31]3 years ago
5 0

Answer:

$187,881.52

Explanation:

The computation is shown below:

The future value would be

= PMT × ((1 + rate of interest)^number of years -1) ÷ (rate of interest)

= $1,500 × ((1 + 0.066)^13 - 1) ÷ (0.066)

= $1,500 × 19.626

= $29,439.14

Now when bob retired, the amount is

= $29,439.14 × (1 + 0.066)^29

= $29,439.14 × 6.383

= $187,881.52

You might be interested in
Sophia Martin's goal has been to travel around the world. She has now been traveling for six months and she has decided she is a
Usimov [2.4K]

Answer:

Identifying alternative course of action

Explanation:

In this scenario Sophia made an initial financial plan in which she would travel around the world.

As she gets tired of this line of action she can identify other activities that will better suit her. So when she decides to go home, look for a part time job, and take shorter trips to locations around the world that appeal to her. She is identifying alternative course of action.

This new action will eventually have financial implications when implemented. In this case coming home and making only short trips will save her more money. She will also get money from her job.

3 0
3 years ago
When estimating the cost of equity by use of the bond-yield-plus-risk-premium method, we can generally get a good idea of the in
artcher [175]

Answer:

The answer is true.

Explanation:

5 0
3 years ago
Suppose the price of a pound of flax seed in west virginia is currently $1.00. the law of one price suggests that because the pr
Reptile [31]

Answer:

It will be between $1.00 and $ 1,20

Explanation:

Solution

Given:

From the given question, the price of a flax seed in west Virginia is presently at $1.00

From the law of one price states that since the price of a pound of flax seed is $1.20 in Kentucky,

Then,

The price of a flax seed pound will be between 1.20 and 1.00

Therefore, the price of the flax seed in Kentucky as compared to that of west Virginia will be placed in between  prices of $1.20 and $1.00 after the supply by sellers in both market has been adjusted or raised.

6 0
3 years ago
If you use credit what are you creating
Margaret [11]
<span>B is the correct answer. When you spend money on a credit card you are creating a debt because you are spending money you don't actually have at that point in time.</span>
3 0
3 years ago
Read 2 more answers
Yong produces silk and polyester fabrics. Management has compiled the following unit selling price and unit cost information for
monitta

Answer:

$9.05

Explanation:

the information about prices and costs is missing, so I looked it up:

contribution margin per yard for silk = $18 - $4.10 - $2.70 - $3.51 - $0.90 = $6.79

contribution margin per yard for polyester = $10.20 - $0.80 - $2.90 - $3.77 - $0.60 = $2.13

contribution margin per machine hour:

silk = $6.79 x 1/0.75 = $9.05

polyester = $2.13 x 1/0.5 = $4.16

8 0
3 years ago
Other questions:
  • Should Obama Care system be continued into the future ?? Yes :Because considering an average of 20 million US citizen depend on
    13·1 answer
  • Brooklyn sells a single product to wholesalers. The company's budget for the upcoming year revealed anticipated unit sales of 33
    9·1 answer
  • Why might you complete a 1040 form instead of a 1040 EZ tax<br> form?
    15·2 answers
  • A company manufactures mountain bikes. The research department produced the marginal cost function C'(x)=700-(x/3) where 0 is le
    13·1 answer
  • Which steps would you take to determine how much an employee should be paid? Select all that apply. Determine the number of hour
    12·2 answers
  • Claire wants to take out a small personal loan to renovate her kitchen. She borrows $3,000. Her loan has an annual compound inte
    14·2 answers
  • If you had $1,000 to invest into the following funds, which one would have the highest value (not including any fees) at the end
    6·1 answer
  • Casey is on trial under criminal allegations that she engaged in fraudulent behavior at the company she manages. She is worried
    12·1 answer
  • The inputs used to produce goods and services are also known as prices. institutions. resources. output. costs. g
    11·1 answer
  • an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is called a(n)
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!