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
Korolek [52]
3 years ago
12

18. You have $$42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year un

til your account totals $250,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal
Business
1 answer:
melomori [17]3 years ago
6 0

Answer:

it takes 15 years 10 months to  reach your goal.

Explanation:

The Fixed deposits are in the form of an ordinary annuity.

The Future Value of this Ordinary Annuity must be $207,819.47 ($250,000 - $42,180.53)

Thus find number of years that the fixed deposits would amount to $207,819.47.

Using a Financial Calculator enter the following data to calculate the period, N.

PMT = $5,000

P/yr = 1

r = 12 %

FV = $207,819.47

N = ?

Thus the number of years, N it takes to  to reach your goal is 15.7921 or 15 years 10 months.

You might be interested in
A journal entry for a $75 payment for Rent expense was posted as a debit to Salary expense and a credit to Cash. This error will
Illusion [34]

Answer: The correct answer is a). The sum of the debits will equal the sum of the credits.

Explanation: When a journal entry is posted as same amount to both the debit and credit it balances up in the trial balance.

In the same vein, irrespective of the error in the ledger raised and posted in the trial balance, the sum will be equal on both the debit side and the credit side.

3 0
3 years ago
The best defensive driving strategy in planning ahead for an evasive action on the road includes:
Pie

Answer:

A) Scan the highway far and wide.

B) Think about how slow, stop or change lanes suddenly.

Explanation:

The Smith Driving Standards can be a very useful guide for defensive driving techniques. It includes the Five Principles of Defensive Driving:

  1. Aim high : you should be alert and focused, and your head should be held up high so that you can view the whole road.
  2. The Big Picture : try to identify angry or erratic drivers, and always be aware of your surroundings.
  3. Keep Your Eyes Moving: you must be alert and keep your eyes on the road.
  4. Leave Yourself An Out : try to anticipate what other drivers are doing so that you have a possible exit in case you need to change lanes suddenly.
  5. Ensure they see you: make sure other drivers have noticed you.

7 0
3 years ago
Two special methods vital to marketing researchers are __________ and __________.
Anton [14]

Two special methods vital to marketing researches are <u>sampling</u> and <u>statistical inference.</u>

hope this helps!

5 0
2 years ago
For each item listed below, indicate the effect on net income in arriving at cash flows from operations by choosing one of the f
Liono4ka [1.6K]
1 2 5 são números par thank from e escreva-se
6 0
3 years ago
Elly owns a small coffee shop. she has only one employee. one​ weekend, she decided to take a break from work. she is wondering
Rudiy27
<span>The answer to your question is 
</span>\boxed{\bf C.~backwards~induction}&#10;<span>

</span>
\bf Explanation:
<span>
Backward induction is a process of decision making where you reason backward of the situation. 
</span><span>
Hope this helped!</span>
5 0
3 years ago
Other questions:
  • Josh wants to convey his best wishes to Jonathan for a meeting scheduled later during the day. Which business document would be
    9·2 answers
  • Stock r has a beta of 1.5, stock s has a beta of 0.75, the expected rate of return on an average stock is 13%, and the risk-free
    12·1 answer
  • If a manager designs the shoe department in a manner that one of its private-label pairs of shoes, priced at $39.99, is position
    5·1 answer
  • Suppose that you are jacques necker write a paragraph that explains how your economic reform program will benefit france
    11·1 answer
  • Should gambling casinos advance credit to gamblers
    10·1 answer
  • Clementine Import-Export,Inc.,has a language-proficiency test for its sales representatives in Latin America.Part of the test re
    14·1 answer
  • Which indicators do economists use to determine the state of the economy? Check all that apply.
    9·2 answers
  • On January 1, 20X1, Tucker Company leases equipment from Franz Inc. over three years of the equipment's five-year estimated usef
    7·1 answer
  • Which of the following is a characteristic protected by anti-discrimination laws?
    8·2 answers
  • Why would an analyst include among other things, airplane parts, legal services and software, in an analysis of international ec
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!