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
natali 33 [55]
3 years ago
11

You have decided that you want to be a millionaire when you retire in 45 years. a. If you can earn an annual return of 11.4 perc

ent, how much do you have to invest today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if you can earn 5.7 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Ahat [919]3 years ago
5 0

The amount I should invest today if I earn an annual return of 11.4% is  $7,765.45.

The amount I should invest today if I earn an annual return of 5.7% is  $82,532.61.

<h3>What is the amount I should invest today?</h3>

The formula that can be used to determine the amount I should invest today is:

PV = FV / (1 +r)^t

Where:

  • PV = present value
  • FV = future value = $1,000,000
  • t = 45 years
  • r = interest rate = 11.4%, 5.7%

$1,000,000 / (1.114)^45 = $7,765.45

$1,000,000 / (1.057)^45 = $82,532.61

To learn more about present value, please check: brainly.com/question/25748668

You might be interested in
Cullumber Products plans to produce 10200 units in January. Each unit requires 6 pounds of plastic, which costs $5 per pound. Wh
yKpoI14uk [10]

Answer:

Standard direct material cost= $306,000

Explanation:

Giving the following information:

Cullumber Products plans to produce 10,200 units in January. Each unit requires 6 pounds of plastic, which costs $5 per pound.

<u>First, we need to calculate the standard pounds needed:</u>

Standard pounds of plastic= 10,200*6= 61,200 pounds

<u>Now, the standard cost:</u>

Standard direct material cost= 61,200*5

Standard direct material cost= $306,000

3 0
3 years ago
Pls help for questions no 2, 3, 4, 7, 8, 9, 10
Montano1993 [528]
I can’t see the question
5 0
3 years ago
Out of insurance paid this year 3000 is for next year
olga55 [171]
I’m not understanding .. is there a picture ?
3 0
3 years ago
You are looking at three different job options, one in Pennsylvania, one in Texas, and one in New York. The offers are as follow
tamaranim1 [39]

Answer:

Texas will be a better option as the net pay after income tax is higher than the other cities.

Explanation:

To consider the after-tax wages we must subtract the income taxes from the salaries:

Pennsylvania after tax income: 62,000 x (1-3.07%) = 60,096.6

Texas after tax income:                                                 64,000

New York after tax income:   68,000 x ( 1 - 6.85%) =  63,342

5 0
3 years ago
Double D Ranch and Esau enter into a contract on August 1 for the sale of 200 cattle. Esau cancels the contract ten days later.
ycow [4]

Answer:

Keep the cattle and recover the contract price from Esau

Explanation:

Since in the question it is given that the Double D Ranch and Esau enter into a contract on August 1 for selling of 200 cattle.

But Esau cancels the contract after 10 days. Now the Double D Ranch is not able to sell the cattle to the another buyer so in this case , the Double D Ranch should keep the cattle and get back the price of the contract from the another party i.e Esau as he cancels the contract

3 0
3 years ago
Other questions:
  • A recent report indicated that families in a certain country typically spend about $175 per week on groceries. To investigate wh
    6·1 answer
  • Last year, Reggie, a Los Angeles, California resident, began selling autographed footballs through Trojan Victory (TV), Incorpor
    6·1 answer
  • 13. A kitchen sink should always be
    10·1 answer
  • Which of the following will shift the aggregate demand curve to the left?
    11·1 answer
  • The substitution effect is the change in the quantity demanded of a good that results fromâ ______________, holding constant the
    6·1 answer
  • Which of the steps listed below are part of the procurement process?a. Create transfer orderb. Create requisitionc. Send payment
    6·1 answer
  • What does COBRA status allow you to do?
    5·1 answer
  • Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during
    15·1 answer
  • How did US policy makers seek to stimulate the economy and integrate?
    14·1 answer
  • A company is considering investing in a new machine that requires an initial investment of $43,158. The machine will generate an
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!