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
Westkost [7]
3 years ago
14

You chose to work beyond the age of 67. Your benefit increases 8% for every year you wait past the age of 67 but there is no inc

rease in benefit beyond age 70. You are retiring at the end of this year, at the age of 72. If your normal monthly retirement benefit would have been $1,000 per month if you retired at 67, which math statement below could you use to roughly calculate your monthly benefit at age 72?
a) $1,000 + $1,000 x .08 x 3 = $1,240
b) $1,000 + $1,000 x .08 x 5 = $1,400
c) $1,000 + $1,000 x .08 x 3 x 12 = $2,880
d) $1,000 + $1,000 x .08 x 5 x 12 = $4,800
Business
1 answer:
Sphinxa [80]3 years ago
5 0

Answer: a) $1,000 + $1,000 x .08 x 3 = $1,240

Explanation:

Monthly retirement Benefit at age 67 = $1000

Incremental rate on benefit beyond age 67 = 8%

Incremental rate on benefit beyond age 70 = 0

Period = 70 - 67 = 3years

Estimated monthly benefit at age 72;

Monthly benefit at age 67 + (monthly benefit at age 67) × incremental rate × increment period × 12

$1000 + ($1000 × 0.08 × 3 )

$1000 + $240.00

=$1240

Similarly,

This means monthly rate = 8% / 12 = 0.0066667

Total period = 12 × 3 = 36 months

Total = Principal + (principal × rate × time)

1000 + (1000 × 0.0066667 × 36)

1000 + 240.0012

1,240.0012 = 1240

You might be interested in
When marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resour
Iteru [2.4K]

When marketers evaluate the attractiveness of each potential segment and decide in which of these groups, they are engaging in​ targeting.

A serviceable obtainable market also known as a target market, can be defined as a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A  serviceable obtainable market  is a subset of the total market for a service or product. Target market used to helps increase the effectivity of the campaign.

There are 5 different types of targeting, such as:

  • Behavioral Targeting
  • Contextual Targeting
  • Search Retargeting
  • Site Retargeting
  • Predictive Targeting

Learn more about target marketing here brainly.com/question/13363009

#SPJ4

5 0
10 months ago
In the _____ stage of the advertising development process, Fallon account managers and clients must set the campaign budget. Cam
fgiga [73]

Answer:

Planning Phase

Explanation:

6 0
2 years ago
Some industries’ competition is much more intense than others. Retail grocery stores such as Kroger, Safeway, and Albertson’s in
Lemur [1.5K]

Answer:

rivalry among existing competitors

Explanation:

The Porters' 5 forces is used to analyse the competitiveness among firms in an industry.

Porter's 5 forces include :

  • Competition in the industry : the higher the number of companies in the industry, the lower the power an individual firm possesses. For example, if an industry increases it price, a consumer can easily shift to the consumption of substitutes
  •  Potential of new entrants into the industry : If there are low barriers to entry in an industry, firms in the industry experience greater competition  
  • Power of suppliers : the higher the number of suppliers in the industry, the higher the bargaining power of firms in the industry and the greater the power they possess
  •  Power of customers : the larger the number of customers, the greater the power firms possess
  • Threat of substitute product : if there are little or no substitutes for the goods produced by companies, the greater the power the firms possess
6 0
3 years ago
A recent innovation by amazon, the vendor flex program, seeks to lower overall transportation costs but also creates new forms o
Zinaida [17]
This is an example of sales channel conflict
4 0
3 years ago
GoodBuy sells gift cards redeemable for GoodBuy products either in store or online. During 2018, GoodBuy sold $960,000 of gift c
balu736 [363]

Answer:

$849,000 gift card revenue should GoodBuy recognize in 2018

Explanation:

gift cards revenue of GoodBuy recognized in 2018

=  gift cards redeemed + remaining gift cards

= $810,000 + $39,000

= $849,000

Therefore, $849,000 gift card revenue should GoodBuy recognize in 2018

3 0
3 years ago
Other questions:
  • A new car has an msrp of $26,550, and it comes with a sport package priced at $1500, a navigation package priced at $400, and a
    15·2 answers
  • 4. Although bananas are grown in almost one hundred countries worldwide, Ecuador and Costa Rica are among the world's largest ba
    9·1 answer
  • Which of the following is a benefit of doing business with an online bank? A. 24 hours/7 days a week business hours
    11·2 answers
  • Debbie is a Financial Planner and charges her clients on a commission basis. For a particular month, Debbie makes three deals of
    10·2 answers
  • The financial ratio measured as net income divided by sales is known as the firm's:
    7·1 answer
  • The three things counselors should listen for are clients' concerns, feelings about the concerns, and​ a. ​ the expectation the
    15·1 answer
  • Risers Inc. reported total assets of $3,200,000 and net income of $255,000 for the current year. Risers determined that inventor
    15·1 answer
  • The following is taken from Ronda Co.'s internal records of its factory with two production departments. The cost driver for ind
    11·1 answer
  • Carr Manufacturing makes a product that incurs prime costs of $320,000. Production uses 1,000 setup hours and 1,900 machine hour
    8·1 answer
  • The text frequently mentions competing factors that successful groups keep in tension, including conformity/nonconformity, task
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!