Your uncle has $300,000 invested at 7. 5%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting at the end of this year. He also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left in the end?.
Answers
Your uncle can make $35,000 withdrawals for 7.614 years and still have $25,000 left in the end.
Given that your uncle has $300,000 invested at 7.5% and he wants to withdraw $35,000 at the end of each year, starting at the end of this year and he also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. The formula for the future value of an annuity due is:
FV = R [((1 + r)n - 1) / r] x (1 + r)
Where, R = the periodic payment (in this case $35,000), r = the interest rate per period (in this case 7.5% per year, or 0.075/1 = 0.075), and n = the number of periods (which we want to solve for).
At the end of n years, the account will have a balance equal to the sum of the future value of the payments of $35,000 each year for n years, plus the future value of the $25,000 left after the last payment.
Therefore,
FV = R [((1 + r)n - 1) / r] x (1 + r) + PV
Here, R = $35,000r = 0.075/1 = 0.075n = the number of years
PV = $25,000So, FV = $25,000 [((1 + 0.075)n - 1) / 0.075] x (1 + 0.075) + $300,000
Now we have to solve for n:
$331,250.76 = $25,000 [((1 + 0.075)n - 1) / 0.075] x (1 + 0.075) + $300,000($31,250.76 / $25,000) = ((1 + 0.075)n - 1) / 0.0751.25003 = (1 + 0.075)
n - 1(1.25003 x 0.075) + 1 = (1 + 0.075)
n1.09378 = (1 + 0.075)n
Taking the natural logarithm of both sides, ln 1.09378 = ln (1 + 0.075)n
Using the rule that ln a^b = b
ln a, we can write this as: n ln (1.075) = ln (1.09378)n = ln (1.09378) / ln (1.075)n = 7.614 years (rounded to 3 decimal places)
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Related Questions
Staples pays George Nagovsky an annual salary of $37,200. Today, George's boss informs him that he will receive a $5,500 raise. What percent of George's old salary is the $5,500 raise? (Round to the nearest tenth percent.)
Answers
Answer:
the percentage is 14.79%
Explanation:
The computation of the percentage is shown below:
= Raise salary ÷ annual salary
= $5,500 ÷ $37,200
= 14.79%
Hence, the percentage is 14.79%
We simply applied the above formula so that the correct percentage could arrive
one key feature of current consumer technologies is that they
Answers
The key feature of current consumer technologies is their emphasis on convenience, portability, user-friendliness, and seamless integration.
One key feature of current consumer technologies is their emphasis on convenience and seamless integration into everyday life. In today's fast-paced and interconnected world, consumers demand technologies that can simplify tasks, enhance productivity, and provide instant access to information and services.
One aspect of convenience is the portability and mobility of consumer technologies. Devices such as smartphones, tablets, and laptops are designed to be compact, lightweight, and easily carried around, enabling users to stay connected and access their digital resources from anywhere at any time. This portability allows consumers to work remotely, communicate on the go, and access a wide range of applications and services on demand.
Another important feature is the user-friendly interface and intuitive design of consumer technologies. Manufacturers strive to create devices and software that are easy to use, even for individuals with limited technical expertise. Intuitive touchscreens, voice commands, and simple navigation systems make it effortless for consumers to interact with their devices and access the desired features or information.
Seamless integration is also a key aspect of modern consumer technologies. The ability to connect and synchronize different devices and platforms enhances convenience and efficiency. For example, cloud storage services enable users to access their files and data from various devices seamlessly. Smart home systems allow for the integration of different devices and appliances, enabling users to control their home environment with ease.
Additionally, consumer technologies often incorporate features like artificial intelligence (AI) and machine learning to personalize experiences and anticipate user needs. AI-powered virtual assistants, for instance, can understand natural language and perform tasks based on user commands, providing personalized recommendations, reminders, and assistance.
In summary, the key feature of current consumer technologies is their emphasis on convenience, achieved through portability, user-friendly interfaces, seamless integration, and personalized experiences. These features aim to simplify tasks, enhance productivity, and seamlessly integrate technology into the fabric of everyday life.
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what is the apr for a loan that charges 3.0very 30-day payment period?
Answers
To calculate the Annual Percentage Rate (APR) for a loan that charges 3% per 30-day payment period, you need to convert the periodic rate to an annual rate.
The formula to convert a periodic rate to an annual rate is as follows:
APR = (1 + Periodic Rate)^n - 1
Where:
- APR is the Annual Percentage Rate
- Periodic Rate is the rate charged for each payment period
- n is the number of payment periods in a year
In this case, the periodic rate is 3% per 30-day payment period. To calculate the APR, you need to know the number of payment periods in a year. Typically, there are 12 payment periods in a year, so n would be 12.
Using the formula, the APR would be:
APR = (1 + 0.03)^12 - 1
= (1.03)^12 - 1
= 1.4257 - 1
= 0.4257 or 42.57%
Therefore, the APR for a loan that charges 3% per 30-day payment period would be approximately 42.57%.
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Brenda received a $15,000 college scholarship for the current year. She used the scholarship to pay the following fees: tuition $9,000, lab fees $60, parking fees $120, books $750, housing $4,000, and a meal plan $1,070. What can she exclude from gross income
Answers
Answer:
brenda income has gone because there is nothing money left
During December, Alaskan Services makes a credit sale of $4.600 (before sales taxes). The state sales tax rate is 6% and the local sales tax rate is 2.5%
Answers
Answer:
$4997.9
Explanation:
((4600x1.06)x1.025=4997.9
A country's real gross domestic product is the annual value of all final goods and services that are A. Purchased in that country, adjusted for changes in the price level B. Produced in that country, expressed in current prices C. Produced in that country, less exports D. Produced in that country, adjusted for changes in the price level
Answers
A country's real gross domestic product is the annual value of all final goods and services that are produced in that country
What is the gross domestic product?
The standard measurement of the value added produced through the production of goods and services in a nation over a specific time period is the gross domestic product.
Consequently, it also accounts for the revenue generated by that production, or the total amount spent on finished goods and services.
In conclusion, the market value of all the finished goods and services that nations produce and sell in a given time period is measured in dollars by their gross domestic product.
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Which of the following is a style trend?
A. An increase in the population of young parents in a neighborhood
B. The popularity of a new type of jeans
C. An increased concern for protecting the environment
D. The popularity of cell phones that can access the Internet
Answers
B
Explanation:
You want to ctegsosit $15,00na bank at an interest rate of 7 percent per year What is the uture vale of this money after three yes?
tuture value P+)
present value +0
OA S1837563
OR $19661.94
OC $20407.33
Answers
Answer:
A $18, 375.63
Explanation:
The amount to be deposited is $15,000
Interest rate is 7 percent
time is 3 years
the future value will be; the applicable formula
A = p x ( 1 + r) ^n
A = $15,000 x ( 1 + 7/100) ^ 3
A= $15,000 x 1.225043
A=$18,375. 64
In recent years, progressive firms have embarked upon __________, where they will commit company resources and expertise toward helping in broad-based humanitarian situations.
Answers
In recent years, progressive firms have embarked upon co-orperate social initiaitives, where they will commit company resources and expertise toward helping in broad-based humanitarian situations. This is further explained below.
What is a firm?Generally, a firm is simply defined as a firm Professional services are provided by a firm, which might be a corporation, a private corporation.
In conclusion, Co-operative social initiatives have been more popular among progressive businesses in recent years.
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Describe how effective decision-making requires comparing the additional costs of alternatives with the additional benefits of alternatives.
Answers
Explanation:
Effective decision making requires comparing the additional costs of alternatives with the additional benefits. ... As long as the marginal benefit of an activity exceeds the marginal cost, people are better off doing more of it; when the marginal cost exceeds the marginal benefit, they are better off doing less of it.
Why would the stock exchange insitst that all listed compaines abide by a strict code of rules and procedures
Answers
In order to maintain the integrity of the stock market and protect investors, stock exchanges typically require all listed companies to abide by a strict code of rules and procedures.
The stock exchange is a marketplace where publicly traded companies can raise capital by selling shares of their stock to investors. One key reason for this is to ensure transparency and accountability.
Companies that are listed on a stock exchange are required to disclose certain financial information and adhere to strict accounting standards, which helps to provide investors with a clear picture of the company's financial health and performance.
Another reason for these rules and procedures is to prevent insider trading and other forms of market manipulation. By requiring all listed companies to follow the same set of rules and procedures, the stock exchange can help to ensure a level playing field for all investors.
Finally, these rules and procedures help to maintain investor confidence in the stock market. By ensuring that all listed companies are held to the same high standards, the stock exchange can help to prevent fraudulent activity and other forms of misconduct that could undermine investor confidence and lead to a loss of trust in the market.
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which of the following statements about the legal-political environment is true? group of answer choices many salespeople are unaware that they assume legal obligations every time they approach a customer the two broad categories of laws that are particularly relevant to salespeople are federal trade commission regulations and state cooling-off laws antitrust laws have no impact on sales activities the number of laws regulating personal selling and all other aspects of conducting business have decreased dramatically over the last three decades a salesperson's claim that the refrigeration unit he was selling would keep food cold even if the electric power was off for six days could have legal consequences, but not ethical, because the salesperson was simply trying to make a sales when he made that statement
Answers
Among the following statements about the legal-political environment, the true statement is that B. the two broad categories of laws that are particularly relevant to salespeople are federal trade commission regulations and state cooling-off laws.
Salespeople must be aware of the legal-political environment to ensure that they adhere to laws and regulations in their field. Salespeople have a legal obligation every time they approach a customer, which they may be unaware of. The two main categories of laws that apply to salespeople are federal trade commission regulations and state cooling-off laws. The laws regulating personal selling and all other aspects of the business have increased in number over the past three decades. Ethics are always intertwined with legalities. It's impossible to separate one from the other. To avoid legal issues, salespeople must engage in ethical selling techniques. A salesperson's statement about the refrigeration unit he is selling is not only legally but also ethically incorrect since he is making a false claim about his product. Therefore, ethical concerns exist alongside legal concerns. Therefore the correct option is B
The complete question is :
which of the following statements about the legal-political environment is true? group of answer choices
a. many salespeople are unaware that they assume legal obligations every time they approach a customer
b. the two broad categories of laws that are particularly relevant to salespeople are federal trade commission regulations and state cooling-off laws
c .antitrust laws have no impact on sales activities
d. the number of laws regulating personal selling and all other aspects of conducting business have decreased dramatically over the last three decades
e. a salesperson's claim that the refrigeration unit he was selling would keep food cold even if the electric power was off for six days could have legal consequences, but not ethical, because the salesperson was simply trying to make a sales when he made that statement
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Sydnee would like a chart to appear once in her report, but she is having trouble making this occur. She does not understand why the chart is showing multiple times in the report. What is most likely causing the problem?
The chart is placed in the header and footer of a database.
The chart is placed in the field of a database.
The chart is placed in a database with one group.
The chart is placed in a database with five groups.
Answers
Answer:
The chart is placed in a database with five groups.
Hope this helped.
in periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is the
Answers
In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is the FIFO method.
A period of rising prices is known as an inflationary period. In an inflationary period, the prices of goods and services increase.
There are three inventory methods:
FIFO method: The first in, first out (FIFO) method assumes that the inventories purchases first are sold first and ending inventory is made up of the goods bought last. LIFO method: The last-in, first-out (LIFO) method assumes that the latest purchased inventories are the first to be sold and ending inventory consists of goods purchased first. The average cost method: this method makes use of the weighted average cost to determine the value of goods sold and ending inventory.The balance sheet records ending inventory. In periods of rising prices, the FIFO method would result in inventory value closest to the current cost in the balance sheet.
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A ceo is considering how he wants his company positioned he has thought of it as the coolest brand and the brand with the best values which is true about his predicament?
Answers
Answer:
the first one,
Explanation:
for some reason people think that the cooler brand is better even if it sucks. its just because the logo looks good pretty much. I have no idea. its like nike vs adidas more people use nike even though the shoes suck compared to adidas
20 points!
Which phrase best completes the table?
Monopoly
Benefits- has lower production costs
?
Drawbacks- allows for little competition between businesses
May lead to price fixing
A. Promotes innovation and entrepreneurship
B. Is less likely to be regulated by the government
C. Has more money for research and development
D. Makes a greater variety of products available to consumers
Answers
Monopoly has more money for research and development is the phase that best completes the table.
What is a monopoly?A monopoly is when one business holds a dominant position within an industry or a sector to the exclusion of all other serious competitors.
Monopolies are frequently discouraged in countries with free markets. They are viewed as causing price gouging and declining quality because consumers have few other options. They can also concentrate money, authority, and influence in the hands of a single person or a small group of people.
On the other hand, governments may support and even impose monopolies for some basic services like utilities.
The lack of competition that characterizes a monopoly can result in high costs for consumers, subpar goods and services, and dishonest corporate practices.
A business that controls a certain market or industry may take advantage of that status at the expense of its clients. It has the ability to control prices, fudge supply and demand, and produce fake scarcities. It may make it difficult for new competitors to enter the market and prevent experimentation or the creation of novel products. The consumer is at its mercy because they have no other option but to choose a competitor.
Markets that have been monopolized frequently turn unjust, uneven, and ineffective.
Because they either control the majority of the market for their product or are the only provider of it, monopolies often have an unfair advantage over their rivals. Monopolies may vary from one business to another, although they frequently have the following traits in common:
High entry barriers because a single company controls the market, competitors cannot enter it.There is only one seller in the market at this time.Price maker- The business with the monopoly can set the price for its goods without worrying that a rival will undercut it. Prices may be raised at will by a monopoly.A monopoly may purchase enormous quantities of the raw materials it requires at a volume discount thanks to economies of scale. Then, it can reduce its costs so drastically that smaller rivals won't be able to compete.
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According to the environment industry organization for model cell 2 represents which of these environments
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It should be noted that in the environment industry organization model, cell 2 simply means B. Complex stable environment.
The business or industry environment simply means the environment where an organization operates. It includes the customers, partners, suppliers, etc.
In the environment industry organization model, cell 2 simply means the complex stable environment.
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Using the chain ratio method, estimate the market sales potential for heart catheterization products to meet the needs of the infant and child segment. Assume that of the 45,000 children with heart defects each year, 70 percent will benefit from these types of products and that only 50 percent of their families have the financlal resources to obtain such treatment. Also assume the average price for a device is $3,000 and children may only go through a single procedure. The number of buyers in the market can be estimated as (Round to the nearest whole number.)
Answers
Based on the given assumptions and using the chain ratio method, the estimated market sales potential for heart catheterization products in the infant and child segment would be approximately $47,250,000.
To estimate the market sales potential for heart catheterization products in the infant and child segment using the chain ratio method, we'll follow the given assumptions step by step.
Total number of children with heart defects per year: 45,000.
Percentage of children who will benefit from heart catheterization products: 70%.
The potential beneficiaries would be 45,000 * 0.70 = 31,500 children.
Percentage of families with financial resources to obtain treatment: 50%.
The potential buyers would be 31,500 * 0.50 = 15,750 families.
Now, we need to estimate the number of heart catheterization products required by these families:
Assuming each child goes through a single procedure, the number of devices needed would be the same as the number of families, which is 15,750.
Finally, we can calculate the market sales potential:
Average price per device: $3,000.
Total sales potential would be 15,750 * $3,000 = $47,250,000.
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If an investor sells 1 TCB Jul 40 put and buys 1 TCB Jul 50 put, and subsequently sells the Jul 50 put, what is the consequence
Answers
The consequence would be Capital Gain or Loss.
What is capital gain?When a capital asset is sold, its value increases, and this is referred to as a capital gain. Simply put, a capital gain happens when you sell an asset for more money than you paid for it initially. Almost every item you hold, whether it was bought for personal use or as an investment (such as a stock, bond, or piece of real estate), is a capital asset (like furniture or a boat). When you sell an asset, you can realize capital gains by deducting the purchase price from the sale price. In certain situations, the Internal Revenue Service (IRS) taxes individuals on capital gains.The investor opens with a vertical (price) spread. If he closes out one of the legs of the spread, he has a capital gain or loss for tax purposes as of the closing trade date.
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What does the Federal Reserve help regulate?
A. The economy
O B. Food
O C. Clothing
O D. Music
Answers
Answer: A The Economy
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A personal identification number(PIN) is used to protect: A checks B deposit slips C debit cards D check registers
Answers
Answer:
If there is an all of the above option click that but if not hit D: Check registers
Hope this helps!
China,with its strong individualistic,entrepreneurial,free-market spirit,historically has been viewed as the leading economically capitalistic economy in the world.TrueFalse
Answers
The given statement, "China, with its strong individualistic, entrepreneurial, free-market spirit, historically has been viewed as the leading economically capitalistic economy in the world" is FALSE.
Capitalism is an economic system in which private individuals or companies own and manage the economy's factors of production, such as natural resources and capital goods. Capitalism is a system in which companies and individuals are driven by the desire to make a profit.
The Chinese economic system has traditionally been recognized as "socialism with Chinese characteristics," rather than capitalism. Although the country has introduced market-oriented reforms in recent decades, its economy remains largely state-controlled, with the government heavily influencing the country's businesses and economic activity.
In conclusion, it is FALSE that China, with its strong individualistic, entrepreneurial, free-market spirit, historically has been viewed as the leading economically capitalistic economy in the world.
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Compute the stock turnover for a product that has sales of 900 units and an average of 60 units in inventory.
Answers
Answer:
15
Explanation:
900/60=15
15 times is the stock turnover. The stock turnover rate is a common measure of stock performance. This rate represents the number of times a company's stock is 'turned over,' or replaced, in a given year.
Why is stock turnover important to a business?
In essence, inventory turnover is your annual inventory average. It shows how many times your company sold and replaced inventory over a given time period. This figure is significant because it allows companies to plan their financial future.
Given
Sales = 900 units
Average Inventory = 60 units
Required to calculate Stock turnover =?
Stock Turnover = Sales / Average Inventory
= 900 / 60 = 15 times
Thus, the stock turnover is 15 times for a stock that has sales of 900 units and an average of 60 units in inventory.
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Why is it important to start investing for retirement at an early age?
Answers
So you are more experienced when making future investments, you have more positive spending habits and can afford things other may not be able to at that age.
Products liability, medical malpractice, battery, invasion of privacy, trespass, wrongful death and libel all fall within a field of civil law known as:
Answers
Products liability, medical malpractice, battery, invasion of privacy, trespass, wrongful death, and libel all fall within a field of civil law known as tort law.
Tort law encompasses civil wrongs or harms that result in legal liability and provide grounds for a lawsuit. It is a branch of civil law that seeks to compensate individuals who have suffered harm or injury due to the wrongful actions or omissions of others. Tort law aims to provide remedies and compensation for the injured party, deter future wrongdoing, and uphold standards of conduct in society.
Within tort law, various categories of wrongful acts or civil wrongs are recognized. Products liability deals with the legal responsibility of manufacturers or sellers for defective products that cause harm to consumers. Medical malpractice involves negligence or improper treatment by healthcare professionals. Battery refers to intentional harmful contact or physical violence against another person. Invasion of privacy addresses violations of an individual's right to privacy. Trespass refers to unauthorized entry or interference with someone's property. Wrongful death involves a death caused by someone's negligence or intentional act. Lastly, libel pertains to false and damaging written statements.
All these specific areas of civil law fall under the broader umbrella of tort law.
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An architect’s functions may include which of the following? (SELECT ALL THAT APPLY.)
-planning and designing houses, commercial buildings, and other structures
-ensuring worksite safety
-collaborating with engineers
-acting as a construction manager and supervising contractors
Answers
Answer:
the answer is planning, ensuring, and acting
PLEASE HELP
1. What is the name of the company? (1.0 points)
2. Is this mainly a product-based or service-based business? (1-2 sentences. 2.0 points)
3. What products or services is the company best known for? (2-3 sentences. 2.0 points)
3. Where does this company sell its products or services? (2-4 sentences. 2.5 points)
4. Describe at least two of this company's competitors. (2-4 sentences. 2.5 points)
5. How did the entrepreneur make the business different from other companies, especially its competitors? Describe at least one way. (2-4 sentences. 2.5 points)
6. What things has the entrepreneur or company done to help the community? Describe at least one example of this. (2-4 sentences. 2.5 points)
7. Why do you think this company became successful? Describe at least one reason. (2-4 sentences. 5.0 points)
8. What challenges has the company faced? Describe at least one challenge. (2-4 sentences. 5.0 points)
Answers
Based on the information given, the company that's chosen is Tesla and it's a product-based company.
What is Tesla?The company is known for producing electric cars. It's different from its competitors as it produces electric vehicles and uses better softwares.
The company sells its cars worldwide. The competitors include Volkswagen and Toyota. Tesla has helped the environment as it accelerates the transition to sustainable energy
Lastly, the main challenge faced by the company is rising material costs.
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You see Paul dealing with Susan, an upset employee from another department. Susan is complaining about something that your department was supposed to do but didn't. You are in a back room and have not been seen by Susan. Paul is obviously frustrated and unable to deal with Susan effectively. You should:
a. Walk up to the pair and attempt to change the conversation.
b. Introduce yourself to Susan and offer your assistance.
c. Ask your supervisor to offer some interpersonal skills training to Paul.
d. Tell Paul that Susan is needed by the supervisor to end the situation.
Answers
3 oz x 6 feedings = 18oz per day X 30 days =
Answers
Answer:
540
Explanation:
simple math
What is a mutual fund
Answers
Answer: A mutal fund is a professionally managed investment fund that pools money from many investors to purchase securities. the term is typically used in the United States, Canada, and India while simular structures across the globe include the SICAV in Europe and open-ended investment company in the UK.
Explanation: