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
soldi70 [24.7K]
2 years ago
13

You have just started a new job and plan to save $5,250 per year for 35 years until you retire. You will make your first deposit

in one year. How much will you have when you retire if you earn an annual interest rate of 9.47 percent
Business
1 answer:
nasty-shy [4]2 years ago
6 0

Answer:

FV= $1,260,205.98

Explanation:

Giving the following information:

Annual deposit= $5,250

Number of years= 35 years

Annual interest rate= 0.0947

To calculate the final value, we need to use the following formula:

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

A= annual deposit

FV= {5,250*[(1.0947^35)-1] / 0.0947

FV= $1,260,205.98

You might be interested in
Mart's Boutique has sales of $820,000 and costs of $540,000. Interest expense is $36,000 and depreciation is $59,000. The tax ra
Rufina [12.5K]

Answer:

$146,150.00

Explanation:

Net income is net of taxes.

Here,

Sales = $820,000.00

Less: Costs = -$540,000.00

Gross profit = $280,000.00

Less: Finance Costs

Interest = -$36,000.00

Depreciation = -$59,000.00

Net profit before Tax = $185,000.00

Less: Tax @ 21% of $185,000.00 = - $38,850.00

Net Income (after tax) = $146,150

Net income is always computed after tax.

$146,150.00

3 0
2 years ago
Jessica is trying to get a credit card. She has a credit score of 790. How is Jessica’s lender likely to view this credit score?
Arisa [49]
<span>A.) Jessica is low risk and will pay her outstanding balances on time.</span>
3 0
2 years ago
Read 2 more answers
The Green Carpet has current liabilities of $72,100 and accounts receivable of $107,800. The firm has total assets of $443,500 a
quester [9]

Answer:

The answer is: $47,700

Explanation:

To determine net working capital we use the following formula:

Net working capital = total current assets - total current liabilities

  • Current assets: assets that can be converted to cash within a on year period (e.g. cash, account receivables, inventory, etc.)
  • Current liabilities: debts that should be paid within a one year period (e.g. accounts payable, wages, taxes, etc.)

Net working capital = $119,800 (current assets = total assets - net fixed assets) - $72,100 (current liabilities)

Net working capital = $47,700

6 0
2 years ago
Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and
Shtirlitz [24]

Answer:

a. Merina's captal is $160,000. Half would be $80,000.

Entry;

DR Merina, Capital ..................................................................$80,000

CR Wayne, Capital ....................................................................................$80,000

(To record purchase of half of Merina Capital)

b.

DR Cash......................................................................$180,000

CR Wayne, Capital.........................................................................$180,000

(To record Wayne investment)

<u>Working</u>

The current Capital amount is;

= 200,000 +160,000

= $360,000

If Wayne joins and adds to this such that he owns 1/3 then;

2/3x = 360,000

x = 360,000/2/3

x = $540,000

Wayne's share would be;

= 1/3 * 540,000

= $180,000

6 0
2 years ago
The aggregate demand curve shows a ________ relationship between ________ and aggregate output ________.
dezoksy [38]
Why should i ever care just kidding 
6 0
2 years ago
Other questions:
  • The major disadvantage of content analysis as a method is
    13·1 answer
  • Match the task with professionals who would complete them
    9·1 answer
  • It is common for supermarkets to carry both generic (store-label) and brand-name (producer-label) varieties of sugar and other p
    8·1 answer
  • Chandler Co. has a loan that accrues interest at a rate of $28 a day. The company pays the interest once a quarter. What adjustm
    7·1 answer
  • Ray, the CEO of McNealy Metals, often brags that his company offers the highest salaries in the industry, has excellent working
    14·1 answer
  • Knowledge Check 01 On January 1, Greenview Company adopted the dollar-value LIFO method. The inventory cost on January 1 was $11
    7·1 answer
  • Suppose the production function in medieval Europe is Y = K0.5L0.5,where K is the amount of land and L is the amount of labor. T
    9·1 answer
  • Problem 16-17 Firm Value [LO2] Change Corporation expects an EBIT of $25,000 every year forever. The company currently has no de
    14·1 answer
  • There are three main reasons why monetary policy doesn’t always work. Match each reason with its explanation.
    5·1 answer
  • The following information relates to Schmidt Sausage Co.'s defined benefit pension plan during the current reporting year: ($ in
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!