answer.
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
Vaselesa [24]
2 years ago
3

Stephanie wants to save for her daughter's education. Tuition costs $12,000 per year in today's dollars. Her daughter was born t

oday and will go to school starting at age 18. She will go to school for 5 years. Stephanie can earn 12% on her investments and tuition inflation is 6%. How much must Stephanie save at the end of each year if she wants to make her last savings payment at the beginning of her daughter's first year of college
Business
1 answer:
spayn [35]2 years ago
8 0

Answer:

Annual deposit= $3,463.37

Explanation:

Giving the following information:

Tuition costs $12,000 per year in today's dollars.

Number of years= 18

She will go to school for 5 years.

Stephanie can earn 12% on her investments and tuition inflation is 6%.

First, we need to calculate the cost of each year and the total cost.

FV= PV*(1+i)^n

Year 1= 12,000*1.06^18= 34,252.07

Year 2= 34,252.07*1.06= 36,307.12

Year 3= 38,485.55

Year 4= 40,794.68

Year 5= 43,242.36

Total= 193,081.78

Now, we can determine the annual deposit required:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (193,081.78*0.12) / [1.12^18)-1]

A= 3,463.37

You might be interested in
1.) What was the point of the opening story about the prevalence of bribery in Iraq?
NemiM [27]

1A) the point behind the opening story being about the prevalence of bribery in Iraq because it not only sets the plot of the audio, but if you read the details below it also goes with the question “Can today’s multinational corporations be a force for social good?” The opening of this helps the listeners to understand how different corporations work and really think about the questions in the details below.

2A) Governments are often less likely or able to confront issues like human trafficking and labor rights because they have not been able to solve cross border issues, if and when they try to work together than cannot come to a reasonable and or actionable agreements, so instead confronting issues such as human trafficking and labor rights they let them be. Corngold believes that only multinational corporations are able solve issues like that of human trafficking and labor rights. She believes this because they  have the resources, the global footprints, and the incent of profits to solve such challenges.

3A) A Corporate idealist are the employees of a particular business that pay remarkably close attention to the financial performance of their companies, and the ethical, environmental consequences as well. (they also pay close attention to the societal consequences to their companies)

4A) The root of the struggle here that could apply to other similar human rights-related ethical issues would be the fatalities dampens human rights such as freedom to life, and to good health. The speaker ultimately worked through the issue by telling the company the particular human rights they are violating, from here getting the number of fatalities from 8 to 0.

#5 is your understanding of business ethics, thin about the question and go from there

you are free to use my answers as examples. Hopes this helps you out


3 0
2 years ago
Which of the following is NOT a type of mistake in contract law?
faltersainse [42]
What are the possible answers
6 0
2 years ago
You have a job at a real-estate agency in the small country of Dystopia, where you are paid 72,000 marks (the currency of Dystop
slamgirl [31]

Answer:

The total amount you pay in social insurance taxes on your second job is 2,914.65 couches

Explanation:

The computation of the total amount paid is shown below:

= (Total income - paid amount) × Social insurance tax rate

= ($110,100 - $72,000) × 7.65%

= 2,914.65 couches

We simply have taken the difference between the total amount and the paid amount and then multiply it with the social insurance tax rate

All other information is not relevant. Hence, ignored it

8 0
2 years ago
Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three months are given below
RideAnS [48]

Answer:

137,000

Explanation:

                                Jan          Feb              March

Units produced     94000                         80000

Raw materials         26,000

Raw materials       213800    239800   295800

Ratio of raw material to a product is 2:1

Ending inventory = 30% of next month production

Represent budgeted production in February by F

239800=2F + (80000*2*30%)-(2F*30%)

239800 = 2F +48000 =0.6F

239800-48000=2F-0.6F

191800=1.4F

F= 191800/1.4 =137000

7 0
2 years ago
Jack works in a clothing store at the mall. He is paid on commission, so the more he sells the more money he makes. When a custo
vovangra [49]

Answer:

Egoism

Explanation:

Jack reason follows the philosophy of egoism where he is always trying to act for his own benefits (commission). Jack acts humbly, and pay attention to his customers because it is in his best interests to make them like him, the cloth(es) and buy his clothing item(s). Jack is actually after his self interest.

4 0
2 years ago
Other questions:
  • Which of the following statements is​ correct? A. Economists use the terms​ firm, company, and business interchangeably. B. A bu
    9·1 answer
  • Suppose an ocean-front hotel rents rooms. In the winter, demand is: P_1 = 80 - 2Q_1 with marginal revenue of: MR_1 = 80-4Q_1. Ho
    5·1 answer
  • Which of the following statements is true of the sources of competitive advantage?
    14·1 answer
  • Internal Rate of Return Lisun Company produces a variety of gardening tools and aids. The company is examining the possibility o
    13·1 answer
  • Andre's Dog House had current assets of $67,200 and current liabilities of $71,100 last year. This year, the current assets are
    8·1 answer
  • Listen to the NPR news piece about Rachel Carson, the author of A Fable for Tomorrow. You will note that the radio article menti
    10·1 answer
  • Brewsky's is a chain of micro-breweries. Managers are interested in the costs of the stores and believe that the costs can be ex
    11·1 answer
  • Midland Company buys tiles and prints different designs on them for souvenir and gift stores It buys the tiles from a small comp
    5·1 answer
  • An investor is analyzing a three-unit property by looking at its ability to produce future income. What would most likely be use
    14·1 answer
  • Ben &Jerry's Ice Cream buys keywords for a search marketing campaign such as "Ben &Jerry's Chunky Monkey" and "Ben &
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!