Select all that apply.

Allison and Leslie, who are twins, just received $50,000 each for their 21th birthdays. They both have aspirations to become mil

gizmo_the_mogwai [7]

Answer:

(a) 208.92years

(b) 188.67years

(c) $6000 ($650 larger than her initial annual contribution)

(d) It is irrational for Allison to invest in the bond fund

Explanation:

Allison and Leslie start annual contribution of $5,000 beginning a year from today (22nd birthday)

(a) Allison starts her investment at 22 in Safety First Bond Fund with returns of 7% per year

Annual total investment = 5000 + (5000 × 0.07) = 5000 + 350 = $5,350

Allison's age when she becomes a millionaire = 22 + (1,000,000/5,350) = (117,700 + 1,000,000)/5,350 = 1,117,700/5,350 = 208.92years

(b) Leslie starts her investment at 22 in New Issue Bio-Tech Fund with returns of 20% per year

Annual total investment = 5000 + (5000 × 0.2) = 5000 + 1000 = $6,000

Leslie's age when she becomes a millionaire = 22 + (1,000,000/6,000) = (132,000 + 1,000,000)/6,000 = 1,132,000/6,000 = 188.67years

(c) Allison's age when she becomes a millionaire is 208.92years

Her annual contributions to become a millionaire at the same age as Leslie = 1,000,000/(188.67 - 22) = 1,000,000/166.67 = $6,000

(d) It is irrational for Allison to invest in the bond fund rather than in stock because it will take longer time to achieve her aspiration to become a millionaire

7 0

3 years ago

Jack and Jill have trouble keeping their checking account balanced. Because they never know how much is really in their account,

cestrela7 [59]

Answer:The needed funds/money will be transferred automatically from their savings account.

Explanation: A bad check is a that is whose payment is taking from an account not existing or an account with less amount considering the amount required to pay the check. Since Jack and Jill have an automatic funds transfer agreement with their bank, generally funds will be transferred automatically from their savings account with the bank.

It is better Jack and Jill start to know their account balance and take adequate steps to tract it in order to avoid Issuing BAD CHECK.

7 0

3 years ago

A review of the bank statement and accounting records of the Blake Company revealed the following items:

Evgesh-ka [11]

Answer:

a. Item numbers 2 and 4.

Explanation:

At the time of the bank reconciliation statement, there are two statements i.e book statement and the bank statement.

While at the time of recording the true cash balance, the following items should be deducted that are

1. Bank service charges

2. NSF checks

All other items are not relevant for subtracting it from the unadjusted book balance.

8 0

4 years ago

How many lbs. of potatoes does of mcdonald's use in a year?

steposvetlana [31]

More than 3.4 billion lbs.

5 0

4 years ago

Which of the following is used by firms to outline marketing objectives and strategies and identify who is responsible for carry

yuradex [85]

Answer:

The correct answer is B. Marketing plan.

Explanation:

A marketing plan is a document that companies make annually that includes:

- Main objectives for that year.

- Market and company situation.

- Definition of the company's customers.

- Main campaigns to be carried out and expected objective of each campaign.

- Annual action plan where it appears when and who will execute the different actions scheduled for that year.

- Budget to be invested in each action.

- Contingency plan in case the actions are not working that will be done.

But the most important thing is not to know what a marketing plan is, the most important thing is to know why you need it. You need a marketing strategy in your company because:

- It forces you to focus on measurable objectives.

- It allows you to keep in mind once again who your customer is and what he needs.

- It is the only way that your marketing actions are focused on your goal and your client and that they are consistent with each other.

- It will save you money by focusing only on those actions that work.

- You need it to plan your actions throughout the year and anticipate how much time and resources you will need.

- You can see before finishing all your budget what is working and what is not and be able to make changes.

- It allows you to make an evaluation at the end of the year to see improvement points and lessons learned.

In summary, a marketing plan makes you follow a process that forces you to think about the best way to attract customers, convert them into customers, sell them more products or services and rely on them to get more customers.

Without this document, your marketing actions will be just that, loose actions with no objective and no possibility of measurement.

7 0

3 years ago