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brilliants [131]
1 year ago
6

You want to save sufficient funds to generate an annual cash flow of $55,000 a year for 25 years as retirement income. You curre

ntly have no retirement savings but plan to save an equal amount each year for the next 38 years until your retirement. How much do you need to save each year if you can earn 7.5 percent on your savings?Select one:a. $3,333.33b. $2,640.85c. $3,146.32d. $2,889.04e. $3,406.16
Business
1 answer:
Fynjy0 [20]1 year ago
5 0

Answer:

The correct answer is $7,056.46

Explanation:

Giving the following information:

You want to save sufficient funds to generate an annual cash flow of $55,000 a year for 25 years as retirement income. How much do you need to save each year if you can earn 7.5 percent on your savings?

Final value= 55,000*25= 1,375,000

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

A= annual deposit

Isolating A:

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

A= (1,375,000*0.075)/[(1.075^38)-1]= $7,056.46

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Mary's company trained her to perform managerial functions, formulate innovative strategies, and also solve technical issues. Gi
Nataly [62]

Answer: Cross-training

Explanation:

 According to the given question, Mary's  company give training for managing the various types of managerial level operations and functions and based on the given information Mary's company is providing the cross training.

The cross training is one of the type of training that is provided by an organization to their employees for developing their skills and knowledge.

The main objective of the cross training is that it helps an employee to boost their skills, functions so that it improves the quality and the productivity of an organization.

 Therefore, Cross training is the correct answer.      

3 0
2 years ago
You are looking to purchase a new car, and you expect to have annual maintenance costs to keep it running. According to your cal
Alenkinab [10]

Answer:

I should have $11,554.94 in my savings account today.

Explanation:

This can be calculated using the formula for calculating the present value (PV) of a growing annuity as follows:

PVga = (P / (r - g)) * (1 – ((1 + g) / (1 + r))^n) .................... (1)

Where;

P = maintenance costs in the first year = $150

r = interest per year = 2%, or 0.02

g = growth rate of maintenance costs = Expected annual increase in maintenance costs / maintenance costs in the first year = $100 / $150 = 0.666666666666667

n = useful life = 8

Substituting the values into equation (1), we have:

PVga = (150 / (0.02 - 0.666666666666667)) * (1 - ((1 + 0.666666666666667) / (1 + 0.02))^8)

PVga = 11,554.94

Therefore, I should have $11,554.94 in my savings account today.

7 0
1 year ago
Select the correct answer from each drop-down menu. Read the passage. What should Milo do? What customer service skills would he
ad-work [718]

Answer:

a. Milo should disclose all the information about the product

b. Milo is showing honesty about what the customers should expect about the product

Explanation:

a.

A customer service agent is someone who offers assistance to it's customers on behalf of the company. The agent covers issues like; answers questions about the product and guides the customers on how to use the product. Customer services has become more necessary in the recent past due to advancement in communication technology and high competition. Good customer service ensures that a company can retain and get more customers to purchase it's products. When more customers purchase a product, the sales also increase significantly. More sales translates to increased profits, which is the goal of most business organizations. Some of the customer service skills that can assist a company to achieve increased sales are;

1. Communication skills: a customer service has to be able to communicate clearly to the customers to ensure effective transfer of product information.

2. Good listening skills: they need to listen attentively and play keen attention to details to ensure that all the customer's needs are met. This enhances trust.

3. Knowledge about the product: a good agent has to have extensive knowledge about the product since customers will be expecting information about the product from the agents. An agent who seems to have little information about the product will definitely lose the customer's trust.

4. Honesty: the agent has to give the customer all the information about their product even if they will lose the customer. One needs to understand that lying to the customer in most cases takes the customers trust away. But being truthful about the product, might make one lose a customer at that moment but at least the customer will have some level of trust since the agent was honest.

In our case, Milo should disclose all the information about the cruise ship including the extra charges for bottled water. The couple might decline the offer on account of it being above their price range, but they will have some trust in Milo. This trust could make the couple interested in the cruise ship at another time when they can afford it. However, if Milo decides to keep the information away from them, the customers will feel cheated and will never trust Milo again. In this way, Milo loses the customers for life as opposed to losing the customers only once.

b.

In this case, Milo is showing honesty. By disclosing all the information about the product, Milo is being honest about what the product is going to offer and it's associated price. Honesty fosters trust in customers. When a customer fully trusts you, they would rather purchase your product at a slightly higher price than settle for a product whose qualities is not guaranteed.

8 0
2 years ago
A customer, age 69, has never invested in securities. She is retired with no dependents, living on a fixed pension of $35,000 pe
kirza4 [7]

Answer:

5000

Explanation:

Took the test

4 0
1 year ago
Phil’s filling station gas station operates on a patch on the highway in a patch where there were no gas stations close by. It e
Harman [31]

Answer: Both A and C

Explanation:

The Phil's filling gas station operates on a highway was solo in that area and had no other gas stations nearby.It enjoyed the profit .

Sooner a new gas station opened near Phil's gas station.The profit of the Phil's gas station started decreasing. This was because the it has to lower prices to increase its demand and as there were substitutes available in the market now, people moved to another gas stations for their need.

Both of the cases will decrease its profit.

7 0
2 years ago
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