Answer:
Roth IRA account
Explanation:
The best type of account that you should save money in for Retirement is a Roth IRA account. This will allow you to put and save a maximum of $5,500 USD per year which will compound annually with interest and can be redeemed when you retire. Once you redeem your money at the age of 65 1/2 it will be completely tax-free. Meaning you have no liabilities with that money whatsoever and you can simply enjoy your retirement with that money.
Answer and explanation:
As their name describes, <em>nonprofit entities</em> are organizations whose main plan is not to have revenues out of their operations. They usually provide social services to different sectors of the population and can handle their operations mainly thanks to charity and donations. While making their budgets, these organizations cannot estimate their revenues since they cannot take donations for granted. Instead, they estimate their expenses since they will be incurred for sure.
We are asked to solve for the interest during the year given that it is compounded monthly, we are given with the formula A = P(1+r)^n. The solution is shown below;
A = P (1+r)^n
A = $5,000 (1+ 3.5/12)^(12*1)
A = $5,000 (1.000292)^12
A = $5,177.84
Hope this helps!
Answer: William should replace the machine with a new one because over that 2 year span he will be losing less money, if he were to repair he would lose more money.
Explanation:
