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yan [13]
3 years ago
13

Isaiah is in his 50s and currently does not have a retirement fund. However, he recently read a few articles about the insuffici

ent savings of people in retirement and, as a result, he decides he wants to start now. He saves $500 per month for 15 years and earns 7% by investing in the stock market through an index fund.
Business
1 answer:
leonid [27]3 years ago
4 0

Answer:

Future Value= $158,475.64

Explanation:

Giving the following information:

He saves $500 per month for 15 years and earns 7% by investing in the stock market through an index fund.

I assume we have to determine the value of the investment at the time of retirement.

<u>We need to use the following formula:</u>

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

A= monthly deposit= 500

n= 15*12= 180

i= 0.07/12= 0.005833

FV= {500*[(1.005833^180) - 1]} / 0.006833

FV= $158,475.64

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3 years ago
A company increases the price of its clock radios by 10 percent and the company's total receipts fall significantly. What term b
Galina-37 [17]

Answer:

Price elasticity of demand Relation

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3 0
2 years ago
On October 1, 2018, Renfro Company purchased to hold to maturity, 4,000, $1,000, 9% bonds for $3,960,000 which includes $60,000
Nataliya [291]

Answer:

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7 0
3 years ago
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Answer:

a b d

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3 0
3 years ago
A worker would be hurt least by inflation when the rev: 05_02_2017_QC_CS-84894 Multiple Choice worker anticipates inflation and
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worker is protected by a cost-of-living adjustment clause in an employment contract

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3 years ago
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