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
NemiM [27]
2 years ago
13

If you begin investing at age 25 instead of age 20, how much more do you need to invest per month to have $1M at retirement?

Business
1 answer:
DanielleElmas [232]2 years ago
8 0

The logic behind saving for retirement is that the earlier one begins saving for retirement, the lesser amount they will have to save monthly. From the graph given, the answer to how much more you need to invest per month to have $1M at retirement is;

  • $140

Assuming a 6% investment on return, the individual will have to save $360 monthly to have $1,000,000 at the retirement age of 67.

If he, however, waits till the age of 25 to begin saving, he will have to save $500 which is $140 more than he would have saved from the age of 20.

So, to save less per month, you need to start at an early age.

Learn more here:

brainly.com/question/5837034

You might be interested in
Consider an identical basket of goods in both the U.S. and Taiwan. For a given nominal exchange rate, in which case is it certai
Temka [501]

Answer: The price of the basket of goods falls in the U.S. and rises in Taiwan.

Explanation: Exchange rate is the price of a given currency when bought with another another,it is also known as the value of a currency when compared with others such as the United States Dollar. Various factors have been understood to be the cause of the rise and fall of Currency. This will include the value of a country's export and its balance of trade etc

When the price of the basket of goods falls in the United States and rises in Taiwan it will certainly cause the U.S. real exchange rate with TAIWAN to fall.

3 0
3 years ago
Read 2 more answers
An asset used in a four-year project falls in the five-year MACRS class for tax purposes The asset has an acquisition cost of $5
zalisa [80]

Answer:

$1,449,068.80

Explanation:

Book value on purchase                    $5,100,000

Less: Accumulated depreciation       $4,218,720

(5,100,000*(0.2+0.32+0.192+0.1152) <u>                     </u>

Book value on sales                            <u>$881,280</u>

<u />

Salvage value of paint   $1,600,000

Book value of as set      <u>$881,280   </u>

Gain on disposal            <u>$718,720</u>

Tax on gain on disposal = $718,720 * 21% = $150,931.20

After tax cash flow = $1,600,000 - $150,931.20

After tax cash flow = $1,449,068.80

4 0
3 years ago
What is variable expense? Pls help quickly!l
ad-work [718]

Answer:

it's when your expenses in your variable costs change in the certain way you use your services. Basically you just have to make sure you use it less or so it cost less .....is your answer.... may it help you

4 0
3 years ago
The price of cigars is $10, with a quantity demanded of 1,000 per day. If the price increases to $12, the quantity demanded decl
saveliy_v [14]

Answer:

PED = - 1

Explanation:

The PED or price elasticity of demand measures the sensitivity of quantity demanded to changes in price level. It is calculated by taking the percentage change in quantity demanded, which results from a change in price level, and dividing it by the percentage change in price level.

PED = percentage change in Quantity demanded / Percentage change in price

PED = [(800 - 1000) / 1000]  /  [(12 - 10) / 10]

PED = - 1

8 0
3 years ago
Which amendment to the United States Constitution provides that all powers that the Constitution neither gives exclusively to th
-BARSIC- [3]

Answer:

10th amendment

Explanation:

The Tenth Amendment specifically grants those rights to the States that the Constitution neither assigns to the federal government nor forbids the Member States. The Tenth Amendment doesn't really place any clear restrictions on the power of the federal government, although an effort has been made to do so.

6 0
3 years ago
Other questions:
  • Analog computers needs to borrow $475,000 from the midland bank. the bank requires a 15% compensating balance. how much money wi
    11·1 answer
  • Use the ________ or _______ property to clear a float
    12·1 answer
  • Mark receives an email from his bank asking him to update and verify his credit card details. He replies to the mail with all th
    10·1 answer
  • Buster has had a serious medical condition for many months. He has used up all of his sick leave and vacation days, as well as 1
    14·1 answer
  • As a prerequisite to an agent’s use of an income and expense data worksheet, the agent should ask a prospective broker: a) the p
    14·1 answer
  • You want to decide whether to invest in zero-coupon bonds or not. Currently, the yield to maturity of these zero-coupon bonds fo
    11·1 answer
  • At December 31, 2017 and 2018, Funk &amp; Noble Corporation had outstanding 1,000 million shares of common stock and 13 million
    6·1 answer
  • (Tco 1) socially adept managers will have a knack for _____.
    11·1 answer
  • The Blossom Company has disclosed the following financial information in its annual reports for the period ending March 31, 2017
    8·1 answer
  • how to convert ration 13:25 into fraction,decimal and percentage pleas help and with full solving and explanation ​
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!