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Anna35 [415]
2 years ago
6

Jodi is retiring at the age of 65. When she retires, she estimates that she will need a monthly income for 25 years. If Jodi sta

rts with $328,133. 32 in an account that pays 6. 2% interest compounded monthly, approximately what monthly income will she be able to draw? a. $2,665 b. $2,154 c. $1,948 d. $1,094.
Business
1 answer:
sergejj [24]2 years ago
4 0

Monthly income refers to the gross countable income received or projected to be received during the subsequent month.

<h3>Interest compounded monthly</h3>

Given Information:

  • Principal = 328,133.32
  • Interest rate = 6.2%, compounded monthly
  • Term = 25 years

A = P (1 + r/n)^nt

A = 328,133.32 (1 + 6.2%/12)^12*25

A = 328,133.32 (1 + 0.0052)^300

A = 328,133.32 (1.0052)^300

A = 328,133.32 (4.74)

A = 1,555,351.94  Total value after 25 years.

=1,555,351.94 / 300 months = 5,184.51 per month.

Learn more about monthly income, refer to the link:

brainly.com/question/24685812

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Answer:

c

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2 years ago
Personal Consumption Expenditures$4,500 Consumption of Fixed Capital150 Gross Private Domestic Investment800 Government Purchase
Natali [406]

Answer:

The GDP in this economy is $6,230 billion.

Explanation:

The GDP can be calculated using the following formula:

Y = C + I + G + (X - M) ....................................... (1)

Where:

Y = GDP of the economy

C = Personal Consumption Expenditures = $4,500

I = Gross Private Domestic Investment = $800

G = Government Purchases = $950

X = Exports = $65

M = Imports = $85

Substituting the values into equation (1), we have:

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Y = $6,250 - $20

Y = $6,230

Since the figures are in billions of dollars, the GDP in this economy is therefore $6,230 billion.

8 0
2 years ago
Dawn, a young single mother, found a wallet with a large amount of money inside. She has found lost wallets in the past, too. Pr
anzhelika [568]

Answer:

e. motivated blindness.

Explanation:

Motivational blindness is when a person (Dawn in this case) do not notice an unethical action (Keeping the cash) when it's not in our interest to do so.

I hope you find this information useful and interesting! Good luck!

6 0
3 years ago
A customer tells you that they “must have” a particular item that you are out of in your store. You can tell that the customer i
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Answer:

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The May be life insurance corporation is trying to sell an investment policy

This policy will pay $33,000 per year forever

A sales associate mention that the policy would cost $478,000

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Hence the interest rate at which it would be a fair deal is 6.9%

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3 years ago
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