Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 30, 2024

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE Right now you are 20 years old and want to retire

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE

Right now you are 20 years old and want to retire at 65 ; if you want to have $1,500,000 in the bank when you retire, how much must you deposit each year to reach your goal if your account pays interest of 6 percent? Use time value of money factors with at least four decimal places and then round your final answer to the nearest whole dollar. 7,051 (with margin: 0 )

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Am I prejudiced against this person? Am I too judgmental?

Answered: 1 week ago

Question

★★★★★

Following are the operating statements for a public and private college. The operating statements have been adapted from the annual reports of a public and a private university. As would be expected,...

Answered: 1 week ago

Question

★★★★★

Nuestion 7 of 25 Check My Work Stahl Corp. entered into a written contract to purchase a warehouse from Mehl for $385,000. Thereafter, Mehl received an offer from another purchaser to buy the...

Answered: 1 week ago

Question

★★★★★

5. Find the labor force participation rate and unemployment rate given the following information about an economy: Population (working age) 120 Labor Force 80 # Employed 70...

Answered: 1 week ago

Question

★★★★★

A vendor for your part casting claims they redeveloped the casting alloy with less tensile variability. The vendor claims that the new material will show a 20 of 10, 95% of the time. A six sample...

Answered: 1 week ago

Question

★★★★★

The following accounts and their balances appear in the general ledger of NEWBERRY PROPERTIES INC. on June 30, 2017: Preferred stock, 2%, $75 par...........................................1,350,000...

Answered: 1 week ago

Question

★★★★★

Problem 11: The principal stresses at a point in a solid: = 60 MPa, = 35 MPa, 3 = 15 MPa Obtain (a) the maximum shearing stress and (b) the normal and shearing stresses on the octahedral plane.

Answered: 1 week ago

Question

★★★★★

Julia works with you at Happyville Community Centre. You have been friends with Julia for many years, whom you met at high school. You have worked together for about five years. Julia gets on well...

Answered: 1 week ago

Question

★★★★★

Discuss reasons why therapists tend to avoid the unspoken emotional messages in clients' narratives, and "embedded messages" about the therapeutic relationship, rather than approach and address them?...

Answered: 1 week ago

Previous Question Next Question