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
Arisa [49]
3 years ago
11

Ruby is 25 and has a good job at a biotechnology company. She currently has $11,400 in an IRA, an important part of her retireme

nt nest egg. She believes her IRA will grow at an annual rate of 9 percent, and she plans to leave it untouched until she retires at age 65. Ruby estimates that she will need $875,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $20,000 a year (she expects that Social Security will pay her an additional $15,000 a year).How much will Ruby's IRA be worth when she needs to start withdrawing money from it when she retires?
Business
1 answer:
Advocard [28]3 years ago
5 0

Answer:

$ 358,063

Explanation:

Calculation for the amount that Ruby's IRA will be worth when she needs to start withdrawing money from it when she retires.

Ruby's IRA worth when she retires at age of 65

First step

Using this formula to find how many years until Ruby retires

Time period= Retired age (-) current age

Let plug in the formula

65-25=40 years

Second step is to find the future value of IRA when she retires

Using this formula

Future value of IRA when she retires

= Present value(1+r)t

Let plug in the formula

$ 11,400 (1+0.09) ^40

=$11,400 (1.09) ^40

=$ 11,400 (31.409)

= $ 358,063

Therefore the amout that Ruby's IRA will be worth when she needs to start withdrawing money from it when she retires will be $358,063

You might be interested in
10
SCORPION-xisa [38]

Answer:

I want to say c cause it's 40 but then again I don't know

6 0
3 years ago
IRB continuing review of a greater than minimal risk approved protocol that is currently enrolling subjects must ______________-
Stolb23 [73]

Answer:

Occur at least annually

Explanation:

Greater than minimal risk protocols that have been approved must undergo review at least once a year. However IRBs usually specify a shorter period than this for reviews. The principal investigator holds the duty of ensuring that signed consent forms are kept confidential. The IRB are not required to review these confidential forms.

6 0
3 years ago
In double-entry accounting, where should you record money that is leaving your company to pay bills? A. In the debits column B.
Andre45 [30]
B. In the credits column
6 0
3 years ago
Read 2 more answers
L Corporation produces and sells 15,300 units of Product X each month. The selling price of Product X is $23 per unit, and varia
Arlecino [84]

Answer:

<em><u>It would generate a financial disadvantage for 62,800</u></em>

Explanation:

\left[\begin{array}{cccc}-&continued&discontinued&differential\\Sales&351,900&0&-351,900\\Variable&-260,100&0&260,100\\Contribution&91,800&0&-91,800\\Fixed&-103,000&-74,000&29,000\\total&-11,200&-74,000&-62,800\\\end{array}\right]

It would generate a financial disadvantage for 62,800

Because the product, while is having a loss, their contribution cover is enought to cover at least the avoidable fixed cost.

5 0
2 years ago
Adams, a general contractor, Brinks, an architect, and Carson, an interior decorator, formed the Dex Home Improvement General Pa
True [87]

Answer:

8,000

Explanation:

Calculation to determine what Brinks' initial basis in Dex is:

Carryover Basis of Land Contributed by Brinks $12,000

Less Mortgage Assumed by the Partnership ($5,000)

Add Mortgage percentage Kept by Brinks $1,000

(.20 x $5,000)

Brink's Initial Basis $ 8,000

($12,000-$5,000+$1,000)

Therefore Brinks' initial basis in Dex is: $8,000

3 0
2 years ago
Other questions:
  • On January 1, 2016, Denver Company borrowed $25,000 by issuing a 5-year note to Capital Bank. The note had a 10% annual rate of
    10·1 answer
  • The difference between the ________ and the ________ from the sale of a product is called producer surplus.
    10·1 answer
  • Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received
    8·2 answers
  • This chapter discusses many types of costs: opportunity cost, total cost, fixed cost, variable cost, average total cost, and mar
    8·1 answer
  • Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before adj
    7·1 answer
  • Suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1912. It
    15·1 answer
  • Why is the serving size on the nutrition facts panel important?
    11·1 answer
  • Explain the effect of a tariff on consumer surplus and producer surplus.
    10·1 answer
  • A company’s _ tells you how much money the company has left over after subtracting all expenses
    8·1 answer
  • Can som on pls help me ​
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!