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
kompoz [17]
3 years ago
11

Nicole is considering opening a Roth Individual Retirement Account. If she invests into the Roth IRA, determine the amount in th

e account if she makes annual payments of $4,291 into an account paying 2. 23% interest compounded annually for 30 years. A. $132,259. 66 b. $132,505. 45 c. $184,513. 76 d. $180,488. 86.
Business
1 answer:
Mamont248 [21]3 years ago
6 0

The future amount in the account (Roth IRA) is equal to: D. $180,488. 86.

<u>Given the following data:</u>

  • Principal = $4,291
  • Interest rate = 2.23%
  • Time = 30 years

To determine the future amount in the account:

Mathematically, the compound interest for this Roth IRA is given by the formula:

A = \frac{P(1\;+\;r)^t -1}{r}

<u>Where:</u>

  • P is the principal.
  • r is the interest rate.
  • t is the number of years.
  • A is the future amount.

Substituting the given parameters into the formula, we have;

A = \frac{4291(1\;+\;0.0223)^{30} -1}{0.0223}\\\\A = \frac{4291(1.0223)^{30} -1}{0.0223}\\\\A = \frac{4291(1.93798684094 -1}{0.0223}\\\\A = \frac{4291(0.93798684094)}{0.0223}\\\\A = \frac{4024.901534474}{0.0223}

A = $180,488.86

Read more on compound interest here: brainly.com/question/25263325

You might be interested in
you just saw a video advertisement that shows an interview with a celebrity who says her life changed for the better when she st
julia-pushkina [17]

Urgency has the advertising company used to persuade you to buy the face cream

What is the Urgency technique?

In order to convince their audience and potential consumers to buy your product or obtain it at the best price, professionals in the field of sales utilize the tactic of urgency. Making clients feel pressured into making a purchase immediately rather than later can assist.

The audience's fear of missing out on something worthwhile, or FOMO, is frequently the target of urgent advertising. Typically, two factors must be combined in order to successfully appeal to this fear of missing out. The adverts often start out by explaining why the product is appealing. Second, they restrict the number of products offered, provide a sale price for a brief period of time, or combine these two standards.

What are the advantages of increasing sales urgency?

Your organization can profit in a number of ways from instilling a sense of urgency in sales. The following are a few of the most typical advantages of building urgency in sales:

assisting clients in taking quick decisions

Increasing sales and the perceived worth of your goods

Increasing consumer interest in your products

providing quick feedback on the effectiveness of sales strategies

simplifying the purchasing process for your clients

lowering the likelihood that buyers will make different choices

Know more about Customer interest,

brainly.com/question/3053467

#SPJ4

7 0
1 year ago
The viability and relevancy of insurance products sold to businesses and individual?
ratelena [41]
It would be better if you attached more information about this question as it's quite difficult to find out what you need. I can help you by telling some words about t<span>he viability and relevancy of insurance products. It helps you when you keep factory that produces unusual things and makes that business more stable.</span>
6 0
3 years ago
An acquisition premium is the amount by which the price offered for an existing business exceeds the Select one: a. amount paid
MAVERICK [17]

Answer:

d. pre-acquisition market value of the target company.

Explanation:

An acquisition premium is the amount by which the price offered for an existing business exceeds the pre-acquisition market value of the target company.

An acquisition premium gives the difference between the actual amount of money paid in acquiring a target firm and the estimated real value of obtaining the firm before the acquisition.

Acquisition premium are usually recorded on the balance sheet as "goodwill."

8 0
3 years ago
Suppose some banks decide to increase their holdings of excess reserves relative to deposits. Ceteris paribus, this action will
slava [35]

The action of the bank will put decreased pressure on the money supply, and to reduce the impact of this action, the Fed could decrease the discount rate.

Basically, a decrease in discount rate will make it easy and cheaper for commercial banks to borrow money from Federal Reserve System and thus, results to increase in available credit and lending in the economy

Therefore, if the commercial banks decide to increase their holdings of excess reserves supposed to be remitted to Feds, then, this will put <u>decreased</u> pressure on the money supply, and the Fed would act by <u>decreasing</u> the discount rate.

Read more about this here

<em>brainly.com/question/20023706</em>

5 0
2 years ago
Suppose the economy is in a recessionary gap. to move equilibrium aggregate output closer to the level of potential output, the
prisoha [69]
The best option is to decrease taxes.
5 0
3 years ago
Other questions:
  • Dynamic Defenses Corporation is considering a project that will have fixed costs of $10,000,000. The product will be sold for $4
    9·1 answer
  • Helen and her friends want to start a new software firm. Its business plan has been finalized. Helen is in charge of the HR plan
    15·1 answer
  • Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (doll
    5·1 answer
  • "when leased computing resources can be increased or decreased​ dynamically, they are said to be​ ________."
    15·1 answer
  • The Lakeside Inn had operating cash flow of $48,450. Depreciation was $6,700 and 15) interest paid was $2,480. A net total of $2
    5·1 answer
  • Which of the following is most likely to be characterized by substantial asymmetric information?
    11·1 answer
  • Suppose that a worker in Agland can produce either 10 units of organic grain or 2 units of incense per year, and a worker in Zen
    11·1 answer
  • A 3-year bond with 10% coupon rate and $1000 face value yields 8%. Assuming annual coupon payment, calculate the price of the bo
    14·1 answer
  • Sarah, a fitness enthusiast, watches a tv advertisement for the latest type of fitness equipment. she is impressed by the produc
    11·1 answer
  • Bob at Bob’s Furniture is looking at a perceptual map about customers’ ideas about his products. The attributes customers care m
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!