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Orlov [11]
3 years ago
10

You believe you will spend $240,000 a year for 25 years once you retire in 17 years. If the interest rate is 3.90% per year. (Do

not round intermediate calculations. Round your answer to 2 decimal places.) a. How much must you need saved once you reach retirement. $ b. how much must you save each year until retirement to meet your retirement goal
Business
1 answer:
AleksandrR [38]3 years ago
5 0

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the money required at the time of retirement:</u>

FV= 240,000*25= $6,000,000

<u>Now, using the following formula, we can determine the annual investment:</u>

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

A= annual deposit

Isolating A:

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

A= (6,000,000*0.039) / {[(1.039^17) - 1]

A= $255,373.88

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Vicky and Lee vacation in Cancun, Mexico, every year. They purchased the right to stay in a beach condo for the first two weeks
Crank

Answer:

The answer is timeshare

Explanation:

A timeshare is a way for a number of people to share ownership of a property. Timeshare is fractional ownership in a vacation property. Each buyer usually purchases a certain period of time in a particular unit.  Almost all timeshares are resort or vacation properties.

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3 years ago
Blue Spruce Company is considering two new projects, each requiring an equipment investment of $101,800. Each project will last
Lunna [17]

Answer:

50,400 44,400

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3 years ago
Read 2 more answers
Identify five HRM criteria or components that can be used to measure organizational effectiveness or ineffectiveness. "Grievance
kolezko [41]

Answer:

They include;

1. Customer Satisfaction

2. Absenteeism

3. Legal Compliance

4. Performance

5. Training

Explanation:

The Human Resource Management criteria that are used to measure the effectiveness or ineffectiveness of an organization, are a list that gives an idea of how an organization is performing, and this list can serve as a basis of comparison with other organizations. These options include;

1. Satisfaction: If the employees are treated fairly and so, feel satisfied with the organization, then they can be said to be effective.

2. Absenteeism: When workers are always absent from work it does not present the organization as an effective one.

3. Legal Compliance: The organization must be able to comply to government rules and regulations guiding the business to be rated as effective.

4. Performance: High or low-performance which is reflected in the turnover rates would be an indication of how effective or ineffective an organization is.

5. Training: The organization should be able to provide regular standard training for its workers to be rated as effective.

8 0
4 years ago
A general journal is: Multiple Choice A.A ledger in which amounts are posted from a balance column account. B.A book of final en
Katyanochek1 [597]

Answer:

D. A complete record of all transactions in chronological order from which transaction amounts are posted to the ledger accounts.

Explanation:

A general journal -

It refers to a notebook , which helps to list all the transactions , any accounting information , in a regular manner , is referred to as a general journal .

The journal is used to get the information or data from the past for a specific date and time .

This enable to collect the data in a brief and precise manner .

Hence , from the given information of the question ,

The correct option is D.

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4 years ago
Consider a market where the demand and supply for the good are described by the following equations: begin mathsize 14px style s
Anvisha [2.4K]

Based on the supply and demand expressions given, and the price ceiling imposed, the result would be a shortage of 45 units.

The given expressions are:
Qd = 225 + 22.5

Qs = -22.5 + 1.5p

<h3>What would be the equilibrium price?</h3>

Quantity supplier = Quantity demanded

-22.5 + 1.5p = 225 - 3p

1.5p + 3p = 225 + 22.5

4.5p = 247.50

p = 247.50 / 4.5p

p = $55

<h3>What is the shortage or surplus?</h3>

Shortage = Quantity demanded - Quantity supplied

= (225 + 22.5 x 55) - (-22.5 + 1.5 x 55)

= 90 - 45

= 45 units

There will be a shortage of 45units.

Find out more on Price ceilings at brainly.com/question/2142981.

4 0
2 years ago
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