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IgorC [24]
3 years ago
6

You want to have $2.7 million when you retire in 37 years. You feel that you can save $600 per month until you retire. What APR

do you have to earn in order to achieve your goal
Business
1 answer:
PilotLPTM [1.2K]3 years ago
6 0

Answer:

9.87%

Explanation:

Calculation to determine What APR do you have to earn in order to achieve your goal

$2.7 million = $600{[(1 + r)444 − 1] / r}

r = .0082*100

r=.82%

r = .82% × 12

r = 9.87%

Therefore the APR you have to earn in order to achieve your goal is 9.87%

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3 years ago
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PLZZZ HELP, i have limited time and i will give brainliest.
Schach [20]

Answer:

Q1. Selena will have earned <em><u>$ 25.00</u></em> in interest by the end of the year.

Since interest paid is 5% in simple interest, we can calculate that by using the formula:

SI = (P)(r)(t)

SI = (500)(0.05)(1) = 25

Q2. The balance in Suki's account at the end of two years will be <em><u>$866.2854.</u></em>

This means that she will have earned <em><u>$66.2854</u></em>  in interest.

Since interest is compounded quarterly, Suki will receive interest for 8 periods. The formula for compound interest with more than one interest period per year is:

\mathbf{A = (P)*(1+(\frac{i}{m})^{n*m}}

where

A is the amount at the end of the period

P is the principal

i is interest rate per annum

m is number of compounding periods in a year

n is number of years

Substituting the values in the formula above we get,

A = (800)*(1+(\frac{0.04}{4})^{2*4}

A = (800)*(1.01)^{8}

\mathbf{A = 866.2853645}

Now, we calculate the interest earned by doing \mathbf{CI = A -P}.

\mathbf{CI = 866.2854- 800 = 66.2854}

Q3. It will take <em><u>18 years</u></em> for the money to double to $100.

Since we need to use the rule of 72, we'll divide 72 by the interest rate to determine the number of years needed to double the investment's value.

So, the number of years is \frac{72}{4} =18.



5 0
3 years ago
Convenience goods like Coke are available almost everywhere in the United States. Thus, Coke uses ______ distribution:
Doss [256]

Convenience products like Coke are available almost everywhere in the United States. Thus, Coke uses intensive distribution, which is related to the strategy of making the product available at many different retailers.

This is a marketing strategy widely used by companies that supply non-durable consumer goods, which are those that are consumed quickly, such as food, beverages and medications.

Therefore, non-durable goods such as Coke need to be replenished quickly, justifying the company's intensive distribution strategy, which makes its products easily available to consumers, increasing its profitability and positioning.

Learn more here:

brainly.com/question/3520708

7 0
2 years ago
Capital Consulting Company had 390,000 shares of common stock outstanding on December 31, 2017. On that date, there were also 4,
Nina [5.8K]

Answer:

Basic earning per share = $3.69

Explanation:

Earning per share (EPS) = earnings available to ordinary shareholders/ number of ordinary shares

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Preferred dividend                               <u>  ( 24,000)</u>

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Number of ordinary shares                   780,000 units

Earnings per shares =   $2,876,000/780,000 units

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