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vampirchik [111]
3 years ago
12

Solve the problem. round to the nearest dollar if needed. looking ahead to retirement, you sign up for automatic savings in a fi

xed-income 401k plan that pays 5% per year compounded annually. you plan to invest $3500 at the end of each year for the next 15 years. how much will your account have in it at the end of 15 years?
a. $77,295
b. $75,525
c. $76,823
d. $73,982
Business
1 answer:
ValentinkaMS [17]3 years ago
4 0
To know how much you'll have by the end of the 15th year, you need to calculate <span>the future value of an annuity  as follows:

</span><span>the future value of an annuity  = investment [( 1 + interest)^number of years -1)] / interest
</span>
Substituting with the givens, you can get the future value annuity as follows:
<span>the future value of an annuity = 3500 [(1+0.05)^15 -1)]/0.05
</span>                                               = 75524.97 $
The correct choice is (b)
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What are institutional advertisements designed to promote
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To better show and explain a image, idea, and or organization for a business.

It is basically to help build a postitive image for your business you are running or trying to create

Hope this helps

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2 years ago
Mexican american farm workers in california organized ________ to demand higher pay from their employers
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The United Farm Workers union
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Suppose you manage a convenience mart and are in charge of ordering products but do not set the price. The home office provides
lakkis [162]

Answer:

c) 10% more peanut butter on the shelves

Explanation:

Since peanut butter has a negative income elasticity of demand (-0.5) with a decrease in income, there should be an increase in the demand. This is usually true for cheaper goods or goods with low added value. The change in demand (D) is represented as follows:

D=20\% * 0 .5\\D=10\%

As a result, you should stock 10% more peanut butter on the shelves.

The answer is c).

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A rapid increase in the price of goods caused by printing too much money is called _____.
Taya2010 [7]
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5 0
2 years ago
Read 2 more answers
The income statement for the Shamrock, Inc. for the month ended July 31 shows Service Revenue $17,510, Salaries and Wages Expens
Greeley [361]

Answer:

July 31

Dr Service revenue $17,510

Cr Income summary $17,510

July 31

Dr Income summary $14,230

Salaries and Wages Expense $9,760, Maintenance and Repairs Expense $3,070 Income Tax Expense $1,400

July 31

Dr Income summary 3,280

Cr retained earnings 3,280

July 31

Dr Retained earnings 1,660

Cr Dividends 1,660

Explanation:

Preparation of the closing journal entries

July 31

Dr Service revenue $17,510

Cr Income summary $17,510

(To close revenue account)

July 31

Dr Income summary $14,230

(9,760+3,070+1,400)

Salaries and Wages Expense $9,760, Maintenance and Repairs Expense $3,070 Income Tax Expense $1,400

(To close expense accounts)

July 31

Dr Income summary 3,280

(17,510-14,230)

Cr retained earnings 3,280

(To close net income/loss to retainedearnings)

July 31

Dr Retained earnings 1,660

Cr Dividends 1,660

(To close dividends to retained earnings)

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3 years ago
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