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
taurus [48]
3 years ago
5

6. You have 45 years left until retirement and want to retire with $4 million. Your salary is paid annually, and you will receiv

e $50,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn an annual return of 9 percent on the money you invest. If you save a constant percentage of your salary, what percentage of your salary must you save each year?
Business
1 answer:
allsm [11]3 years ago
6 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

You have 45 years left until retirement and want to retire with $4 million. Your salary is paid annually, and you will receive $50,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn an annual return of 9 percent on the money you invest.

n= 45

FV= 4,000,000

i= 9% + 3%= 12%

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (4,000,000*0.12)/{(1.12^45)-1}= $2,945

5.89% per year.

You might be interested in
Hakim set goals for his store that included satisfying his customers while making enough money to open a second store. Which com
anyanavicka [17]

Hakim Goals

Explanation:

Hakim set goals for his store that included satisfying his customers while making enough money to open a second store. Which component of a goal did Hakim leave out :

1.Hakim didn't leave anything out.

2. Hakim forgot to include the overall strategy or course of action he would use to fulfill his mission.

3. Hakim forgot to include a time frame in which the goal is to be achieved.

4. Hakim forgot to include exactly how much profit he wanted to make.

5. Hakim forgot to include what his store's purpose and basic philosophy are.

4 0
3 years ago
Which two of the following tips are important to remember when writing a resume?
jonny [76]
<h2>The two of the following tips that are important to remember when writing a resume are: A) be clear and concise in the descriptions you use</h2><h2>D) use bullet points to organize your thoughts </h2>

Explanation:

Our resume should be clear and concise. If the resume is longer than one page, the employer may not go through it. One page resume shows that you are concise, clear, and to the point.

There should be absolutely no typos as spell check doesn’t fix everything!.

Personal information should not be added in the resume like relationship status, age, siblings.

We can list all the jobs that a person had in the past to show our experiments in different fields but it should be something related to the new job.

It is necessary to use bullet points to organize all our thoughts properly.

7 0
3 years ago
) Studies also find that teenagers have a higher price elasticity than do adults. Why might this be true?
Andru [333]

This statement is true. Teenagers have a higher price elasticity than do adults.

This is because teenagers does not have much income to spend so they can shift to other products also. Teenagers are also not addict to smoking or any other habits , Therefore price affects the demand of the product.

Price elasticity is defined as the ratio of the percentage change in quantity demanded due to percentage change in price.

Elasticity  having more than 1 are  relatively more elastic.

Adults have more income to spent so the demand do not effects due to change in price. As adults are more addicted to smoking then teenagers ,

addicted people did not consume less due to its price change.

To know more about price elasticity:

brainly.com/question/13565779

#SPJ1

5 0
1 year ago
Using 3-5 sentences drescribe the broiler chicken production process to someone who feels broiler chickens are produced inhumane
DanielleElmas [232]

Answer:

Broiler chicken are produced from fertile eggs which is different from the table eggs (which are sterile) by hatchery. The fertile eggs are incubated in an incubator which hatch the chick from the eggs. The chicks are fed for seven to nine months to attain market table weight of approximately four pounds.

The broiler chicken are produced in a liter system under a dwarf Wall with wire house, that is chicken are in a crowned house. This system is effective and cost efficient.

3 0
3 years ago
Explain the difference between a bid price and an asked price and explain why the prices are different
alexgriva [62]

Answer:

Explanation:

The bid price is what buyers are willing to pay for it. The ask price is what sellers are willing to take for it. If you are selling a stock, you are going to get the bid price, if you are buying a stock you are going to get the ask price.

6 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following has the greatest impact on your cash flow?<br>​
    14·1 answer
  • Clipper Company sells two types of nail clippers. One focuses on the economy oriented customer and the other aims to satisfy the
    11·1 answer
  • A suplier who requires payment with in 10 days, should be most concerned with which one of the following ratios when granting cr
    14·1 answer
  • A producer is someone who _____________. A. Makes a commodity available for sA producer is someone who _____________. A. Makes a
    15·1 answer
  • How would the issuance of common stock for cash affect the accounting​ equation?
    6·1 answer
  • Money is: the gold and silver behind the currency and the coins that are issued by the government. only the printed paper curren
    15·1 answer
  • Mohave Corp. is considering outsourcing production of the umbrella tote bag included with some of its products. The company has
    12·1 answer
  • The Management of XYZ Company Limited uses value chain analysis, supply chain management, inventory b)Identify and explain the t
    10·1 answer
  • Why is productivity growth considered to be the most important factor in the ad/asad/as model?
    14·1 answer
  • Help help help help help help
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!