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Mkey [24]
3 years ago
5

You plan to retire in 30 years and plan to contribute the same amount of money each year to your retirement fund. The fund earns

7% compounded annually. If you would like to withdraw $100,000 each year for 20 years, starting 1 year after the last contribution is made. Approximately how much money should you contribute to your retirement fund each year
Business
1 answer:
tatyana61 [14]3 years ago
3 0

Answer:

$11,215.24

Explanation:

After retirement:

Annual Withdrawal = $100,000

Period = 20 years

Annual Interest Rate = 7%

Amount required at retirement = $100,000 * PVIFA(7%, 20)

Amount required at retirement = $100,000 * (1 - (1/1.07)^20) / 0.07

Amount required at retirement = $100,000 * 10.5940

Amount required at retirement = $1,059,400

Before retirement:

Period = 30 years

Annual Deposit * FVIFA(7%, 30) = $1,059,400

Annual Deposit * (1.07^30 - 1) / 0.07 = $1,059,400

Annual Deposit * 94.46079 = $1,059,400

Annual Deposit = $11,215.24

So, you should contribute $11,215.24 each year into your retirement fund.

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If a police department tracks arrests, clearance rates, crime rates, and citizen satisfaction surveys to evaluate how well they
ch4aika [34]

Answer: Performance budgeting

Explanation:

Performance budgeting is referred to as or known as the practice or habit of developing and reforming budgets that are mostly based on relationship in between the program funding scale and the expected outcome from the program. This performance budgeting technique is referred to as the tool which administrators tends to use in order to manage the budget.

4 0
3 years ago
Monopoly (mp) and perfect competition (pc) are the two completely opposite market structures. the market structures that fall be
MArishka [77]

Monopoly (mp) and perfect competition (pc) are the two completely opposite market structures. the market structures that fall between these two extremes are generally called <u>imperfectly competitive markets</u>.

Imperfect competition is a competitive market state of affairs where there are many dealers, however they may be selling heterogeneous (diverse) items instead of the correct aggressive marketplace state of affairs. as the name indicates, competitive markets are imperfect in nature.

Imperfect opposition regularly exists because of extremely excessive obstacles to entry for new suppliers. As an example, the airline industry has high barriers to entry due to the extraordinarily high cost of aircraft.

Imperfect markets are characterized by means of having competition for marketplace share, excessive boundaries to access and go out, exceptional products and services, and a small wide variety of customers and sellers. best markets are theoretical and can't exist inside the actual international; all real-world markets are imperfect markets.

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6 0
1 year ago
Which one of the following is the price a dealer will pay to purchase a bond? a. bid-ask spread b. par value c. call price d. bi
svp [43]

The bid price is the price a dealer will pay to purchase a bond.

A bid price is an amount that someone is willing to pay for a security, asset, commodity, service, or contract, among other things. In a lot of markets and places, it is referred to as a "bid."

A bid typically represents a reduction from the "ask" price, which is the price at which sellers are willing to accept an offer. The spread between the two prices is known as the bid-ask spread.

Market makers place ongoing bids for securities and may also do so when a seller asks for a price at which they can sell. Unsolicited bids are those that a buyer submits while a seller isn't actively looking to sell, which happens occasionally.

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6 0
2 years ago
Marlee mills owns a home in the village of Sheridan with a market value of $46,800. The assessed value of the home is $16,380. A
astra-53 [7]

Answer:

<em>=>  Danielle pay $573.3 in property tax</em>

Explanation:

To calculate the property tax of the house, we take the property tax rate multiply by the assessed value of the property.

=> <em>Property tax = Assessed Value x Property Tax Rate</em>

The assessed value estimate the market value for the property, however even when there is large gap between these two, the assessed value is still used to calculate property tax because it is its purpose.

So that Danielle pay in property tax:

<em>Property tax = 16,380 x 3.5 = 57,330 cent = $573.3 </em>

<em>=>  Danielle pay $573.3 in property tax</em>

<em />

5 0
4 years ago
If you and a friend order 2 veggiburgers, one salad, one fries and 2 coffees, what is the total bill with 4% tax and 15% tip?
ycow [4]

Answer:

$14.71

Explanation:

Each veggiburger costs $3.25, the salad costs $2.50, the fries cost $1.50 and each coffee costs $0.90.

Your total bill without taxes or tips = $6.50 + $2.50 + $1.50 + $1.80 = $12.30

If we add the 4% our total increases to = $12.30 x 1.04 = $12.79

Generally I tip on the taxes, so the total bill including taxes and tip = $12.79 x 1.15 = $14.71

6 0
3 years ago
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