Quiz week 3 - 401(k) & investing a 6. if a person starts investing $100 per month starting at age 21, and that money earns a 7% return every year, how much will this person have when turning 70 years old? for ease of calculation, assume starting balance of $0 and annual contributions of $1,200 (12*$100).

Answers

Answer 1

To solve this problem, we use the formula:

F = A [(1 + i)^n – 1] / i

where,

F is the future value or the amount he will have

A is the amount he invest each year = 1200

n is number of years = 70 – 21= 49

i is the interest or return rate = 7% = 0.07

 

Hence the value of F is:

F = 1200 * [1.07^49 – 1] / 0.07

F = $454,798.80 

Answer 2
This can be solved by a formula for compound interest wherein:

A = Expected amount
i = interest raten = annual depositst = timed = initial deposit amount
A = d { [(1 + i/n )nt+1 - (1 + i)] / i }A = 100 { ((1 + 0.00583)841 - (1 + 0.00583)) / 0.07 }A = 100 { (132.793 - 1.0053) / 0.07 }A = 188268 
The final amount would be 188268 dollars after he has already turned to the age of 70 if he would start investing in this investment medium when he is only 21.  

Related Questions

Beginning in the 1940s, first-generation computers used _____.

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A trend that started to gain traction in the 1940s as a result of better technological innovation, was that of using vacuum tube technology in the manufacturing of the first generations of computers, due to the apparent efficiency of this innovation at the time.

Beginning in the 1940s,  first-generation computers used vacuum tube technology. The correct answer is option B.

Vacuum tubes were the primary technology used in the earliest computers, acting as switches and amplifiers for electronic signals. These computers were large, power-hungry, and produced a significant amount of heat, which made them difficult to maintain.

Characteristics of First-Generation Computers:

Utilized vacuum tubes for circuitry and magnetic drums for memory.Consumed a lot of electricity and generated excessive heat, often requiring cooling systems.

Technological Context:

Vacuum tube technology was essential for the development of the first programmable electronic computers, such as the ENIAC and UNIVAC.This era marked the beginning of electronic computing and paved the way for subsequent advancements in computer technology.

Therefore, first-generation computers in the 1940s used vacuum tube technology.

The complete question is:

Beginning in the 1940s,  first-generation computers used _________.

Group of answer choices

A) transistors

B) vacuum tube technology

C) integrated circuits

D) laser technology

Portfolio objectives should be established before beginning to invest. true or false

Answers

The answer is true, it is because portfolio objects is needed by people who wants to invest as the portfolio objectives helps a person in determining the investment that is suitable for the person entering a type of investment and whether it is at risk or not.
True because portfolio objects is a necessary thing for people who wants to invest. A portfolio objective helps a person in examining the right investment for the person who wants to enter a type of investment and to determine if it is at risk or not.

Slot machine is to vending machine as _____ reinforcement is to _____ reinforcement.

Answers

The answer is primary reinforcement as to secondary reinforcement. Primary reinforcers are biological. Principal examples are food, beverage, and desire. But, most human reinforcers are secondary, or conditioned. Examples comprise money, grades in schools, and tokens. Secondary reinforcers acquire their power through a history of link with primary reinforcers or other secondary reinforcers. For instance, if I said to you that dollars were no longer accepted to be used as cash, then dollars would miss their control as a secondary reinforcer.

Final answer:

Slot machines use a variable ratio reinforcement schedule, making them unpredictable and potentially addictive. Vending machines use a fixed ratio reinforcement schedule, delivering a predictable reward every time. This makes slot machines to vending machines as variable reinforcement is to fixed reinforcement.

Explanation:

In the field of psychology, particularly the study of behaviorism, there are different kinds of reinforcements. Slot machines utilize a variable ratio reinforcement schedule, while vending machines use a type of fixed ratio reinforcement schedule.

In a variable ratio schedule, the reinforcement (in the case of a slot machine, the payout) happens after an unpredictable number of responses. This is why playing slot machines can be so addictive - you never know when the next payout will be. It could come after a few tries or a hundred.

On the other hand, a fixed ratio schedule implies that reinforcement occurs only after a fixed number of responses. For example, in a vending machine, you insert a coin (the response), and you receive a snack (the reinforcement) every time.

So, to complete your analogy: Slot machine is to vending machine as variable reinforcement is to fixed reinforcement.

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Players will be issued what color cards for fouls, depending on the seriousness of the penalty.

Answers

Red or yellow cards is the answer

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Answers

The right to private property.
Final answer:

The principle described is private property rights, that allows individuals to own, use, control, and dispose of property, within the constraints of the law.

Explanation:

The principle your question is referring to is known as private property rights. In the United States and many other market economies, this is a cornerstone of the economic system. Private property rights give individuals the right to own, control, use, and dispose of physical and intellectual property. These rights, however, are not absolute. They are limited by the law, and you can't use your property in a way that violates others' rights or breaks general laws.

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If you are in a car accident cause by someone else who also has insurance, which type of insurance plan will not require you to pay out of pocket costs?

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If you are in a car accident cause by someone else who also has insurance, the type of insurance plan that will not require you to pay out of pocket costs is liability insurance. If the car accident was not your fault and the person who caused the accident is also insured the claim should be paid by him under his coverage and your pocket will be safe as well as your insurance will not be affected.

Nestor's nesties, a confectionery company, sells a variety of dark chocolates, milk chocolates, gummies, fruit juices, biscuits, cereals, and even cheese. these products together constitute the company's _____.

Answers

The answer is product mix. A product mix is a way of having to offer products to the people or consumers in which it comprises multiple line. These are usually offered by companies and a means of selling the products that they produce.

How is using a coffee cup calorimeter an effective way to determine enthalpy?

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Enthalpy is defined as the measure of energy in a thermodynamic system. The value of enthalpy is considered to be equal to the internal energy of the system and the product of pressure and volume. Calorimeter is usually used to obtain the value of enthalpy of a system. 
A coffee cup calorimeter is an effective way of measuring the enthalpy of a system because it is a constant pressure calorimeter. This means that, the heat that is measured in a coffee cup calorimeter is equivalent to the change in enthalpy; also its use result in little or no volume change to the system involved.

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the unemployment rate is 9.1%

Lee johnson sold golf shoes for $89.99 a pair. the shoes cost the store $26.28 a pair. what was the markup rate based on cost to the nearest tenth of a percent

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242.4%
I hope that helps

If a general partnership fails, who is responsible for the debts? (1 point)

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In a general partnership, all partners are personally liable for the partnership's debts and obligations.

This means that if the partnership fails and incurs debts, each partner is jointly and severally responsible for repaying those debts. Creditors can pursue any or all partners for the full amount owed, regardless of each partner's individual share of the liability.

This personal liability extends to the partners' personal assets, not just the assets of the partnership. Consequently, the failure of a general partnership can result in significant financial consequences for all partners involved.

True or false: industrial policies of the united states have been more formal than those of europe and japan. the u.s. government discourages exports via its export import bank and commodity credit corporation.

Answers

False. Industrial policies of the United States have been less formal than those of Europe and Japan. The U.S. government encourages exports via its Export-Import Bank and Commodity Credit Corporation. Firms are also allowed to form export trading companies and export trade associations.

Dimitri has several apple trees in his yard, and apples are a perfectly competitive market with a price of $2 per pound. if dimitri sells apples at the farmer's market, what is his total revenue and marginal revenue when he sells the 100th pound of apples?

Answers

The total revenue and the marginal revenue when he sells the 100th pound of apples is 
total revenue is $200 (100 * 2) and marginal revenue is $2 (the price of the apple per pound in the market)

So the answer is the total revenue of Dimitri is $200 while the marginal revenue is $2.

The ruhr valley is important to the economy of germany because it ____.

Answers

The Rurh valley is important to the economy of Germany because it PRODUCES MOST OF GERMANY'S IRON AND STEEL.
Rurh is the largest urban area in Germany. It is made up of large, industrial cities. The region produces most of the iron and steel that originate from Germany.  

Mordred had been sued by a former business partner. the partner was seeking $1,000,000 in damages. mordred felt that this claim was totally unfair. he went to the law firm of merlin, guinevere, and arthur, llc. he was told that a junior associate could handle his case for $300 and hour or a senior partner could handle the case for $700 and hour. when he asked why there was such a difference in the rates, he was told that the senior partners were in such high demand that they were trying to discourage new clients. this is an example of _____________?

Answers

This is an example of the fundamental principle of economics, supply and demand. There is a limited supply of senior partners, so as demand for their services increases so does the price of those services. Conversely, if the senior partners were in need of new clients then their services would not be in high demand. This would cause the price of their services to decrease.

Norma is trying to decide which of four dresses to buy. for each dress, she carefully considers the cost, appearance, and quality. she then ranks the dresses in order of desirability and buys the most desirable one. norma's decision is in accord with ________ theory, which is a ________ model of human decision making

Answers

The fact that Norma carefully considers the cost, appearance, and quality of each dress and she ranks the dresses in order of desirability and buys the most desirable one means that Norma's decision is in accord with expected utility  theory, which is a normative model of human decision making .

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There are various tasks that are performed by most common operating systems, and are universal across differing computers and other devices. Two important tasks are: managing communication between the software and a system's hardware abd deciding how a computer's memory and storage will be determained.

How long does it take for dachshunds to be full grown?

Answers

It will stop growing at about 9-12 months
Final answer:

Dachshunds generally reach full growth between 12 to 18 months old with certain variations depending on individual factors.

Explanation:

In general, Dachshunds are considered full grown between 12 and 18 months old. However, they may continue to fill out and gain weight until they are two years old. This can be influenced by factors such as diet, exercise, and overall health. As each Dachshund is individual, this timeline may slightly vary.

The provided information about three month training and categorisation seems to be about the development of service dogs. While this can be interesting, it may not directly relate to a Dachshund's physical development into an adult dog.

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what do you do in the backroom of a grocery store

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do inventory and bring out produces to stock

In an ad, the words that make up the headline and message is known as the:

Answers

That is called the COPY.

In an ad, the words that make up the headline and message is known as the copy.

What is meant by headline?

A passage or page's introduction or classification is given in number. The summary of the material that follows in a newspaper story or article that is normally printed in large type. Headlines are pluralized into front-page news. The affair became well-known.

A newspaper article's title is typically placed at the top in big letters, especially on the front page. The Daily Mail's headline reads, "The Voice of Conscience." The headlines contain the main points of the news that is broadcast on radio or television.

The headline is the first line of text in a newsletter, blog post, or article. It is a very detailed and compressed summary of the content.

Thus, it is a copy.

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The fabric costs $14.00 per yard.if you buy 5 yards or more, you can get 20% off.how much would five yards cost on sale?

Answers

If you were to buy 5 yards at $14 a yard, your first cost would be at $70. But with 14 being 20% of 70, you would subtract 14 out of the $70, which would leave your final cost at $56.

According to OSHA standards, a competent person is defined as one who is capable of identifying existing and predictable hazards in the surroundings, or working conditions which are unsanitary, hazardous, or dangerous to employees, and who has authorization to take prompt corrective measures to eliminate them.

Answers

Final answer:

A competent person under OSHA is someone who can identify and correct hazardous conditions at work. Employers are responsible for providing a safe workplace and complying with OSHA standards, including training, protective equipment, and keeping safety records. Workers have the right to file complaints about workplace hazards or OSHA standard violations.

Explanation:

A competent person according to OSHA standards is one who is capable of identifying existing and predictable hazards which may be unsanitary, hazardous, or dangerous to employees. This person also has the authorization to take prompt corrective measures to remove these hazards. Under the Occupational Safety and Health Act (OSHA), employers have a responsibility to create a safe workplace without serious hazards and to abide by all OSHA safety and health standards. This includes efforts to eliminate or reduce hazards by changing working conditions and providing necessary training and protective equipment.

Employers are tasked with informing workers about chemical hazards, providing safety training, performing necessary tests like air sampling, providing personal protective equipment, and keeping accurate records of work-related injuries and illnesses. Employers must comply with specific OSHA standards such as providing fall protection, preventing trenching cave-ins, and ensuring the safety of workers in confined spaces.

OSHA, established by Congress and part of the United States Department of Labor, has a mission to assure safe and healthful working conditions by setting and enforcing standards, as well as providing training, outreach, education, and assistance. It's important for workers to know that they have the right to file a complaint if they believe there is a serious hazard or a breach of OSHA standards at their workplace.

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Answers

Well firstly the people working would account to 190 mill and the people working would account to 230 mill you then need to times it by 100. you would get 10,10 and 190 which will equate to 5%. So the unemployment rate for the whole population would be at 5% which can be deemed relatively low!

He sellers have accepted an offer in which they agreed to carry a second trust deed. what contact must be signed by the buyer, seller and real estate agent, if any?

Answers

The contract that must be signed is SELLER FINANCING ADDENDUM AND DISCLOSURE STATEMENT.
This document contains the terms of seller financing and the legally required disclosures. The seller must disclose all the necessary financial information and fill the document appropriately.

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Answers

Reconciling your bank statement is simply comparing your records to your monthly banking statement sent to you by your financial institution for any discrepancies or errors

Answer:

When someone reconciles their bank statement they are comparing and adjusting their checking account balance with the account balance that the bank sends them. It is normal to find discrepancies between an individual's or a business's account balance with the account balance that the bank issues mainly because of:

deposits in transit: you may have deposited some checks in your account but the bank hasn't recorded the money yetoutstanding checks: checks that you handed out but haven't been cashed yetbank fees (e.g. printing fees, etc.)

When you perform a bank statement reconciliation, you are checking that your account balance is correct.

Noah has a summer job wich pays 1827 for the entire summer. if 22% is taken out for federal taxes, then how much is deducted

Answers

Total amount Noah get from summer job = 1827
federal tax deducted on that = 22%
Amount deducted from total amount = 22% x 1827
=22/ 100 x 1827 = 0.22 x 1827 = 401.94
Thus, the amount deducted is 401.94

A broker-dealer is a syndicate member in a best efforts underwriting of abc common stock. the issue is oversubscribed. the broker-dealer may allocate sales of the issue to:

Answers

A broker-dealer is a syndicate member in a best efforts underwriting of abc common stock. the issue is oversubscribed. the broker-dealer may allocate sales of the issue to the employees of the broker-dealer that are Florida Residents

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Answers

The price at which shares of an open-ended mutual fund are issued and redeemed is based on the fund's net asset value per share.

The policy of naming each product differently is known as _____ branding.

Answers

The policy of naming each product differently is known as individual branding. The individual branding is marketing strategy according which each product has its own brand and each brand is different from every other product in the same product family. The names of the products are not connected to names of existing brands offered by the company.

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Answers

The process in which specific parts reach a specific facility and arrive on time is known as,"Inbound Logistics".
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