Business High School

Suppose you want to have $800,000 for retirement in 20 years. your account earns 5% interest compounded monthly.
a.how much would you need to deposit in the account each month? $
b.how much interest will you earn?

Answers

Answer 1

a. If you want to have $800,000 in your retirement account in 20 years' time, you need to deposit $1,946.31 each month.

b. You will earn a total interest of $332,884.98 at the end of 20 years.

Data and Calculations:

N (# of periods) = 240 (20 x 12)

I/Y (Interest per year) = 5%

PV (Present Value) = $0

FV (Future Value) = $800,000

Results

Monthly Deposit = $1,946.31

Sum of all periodic payments = $467,115.02

Total Interest = $332,884.98

Thus, you need to deposit $1,946.31 every month in the account.to have $800,000 in the retirement account in 20 years' time.

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Related Questions

Which of the following typically have the highest auto insurance premiums? A.Young, inexperienced drivers B.Older, experienced drivers C.Drivers who have safe driving records D.Drivers who travel short distances

Answers

A. young, inexperienced drivers. 

Answer:

A.Young, inexperienced drivers

Explanation:

The insurance premium is the price a person needs to pay to get an auto policy. Insurance companies establish the price of the premium considering the risk the person requesting the policy has. From the options given, the group that have the highest risk is the young, inexperienced drivers as they have more probability of having an accident because of the lack of practice driving and they will have the highest insurance premiums.

Can economic approaches to environmental management adequately account for the complex interactive system that make up the environment

Answers

Our actions are based on the economy, whether we want it to be or not. There are some things that are run on a volunteer basis or to preserve something for the sake of protecting it (our national parks for instance). We are also realizing more and more that green approaches also save money. If we use less energy, then we're paying for less energy, and we keep more money for other things. In many cases, it's a win-win

When a hard-copy document needs to be added to the ehr, the healthcare professional uses a ________________ to capture the document and add it to the electronic record?

Answers

A scanner can be used in order to send hard-copy documents to a patient's electronic health record. A scanner is a device that digitizes documents into a format that is readable by computers.

How many clusters do vocational counselors group career and occupation specialties into?

Answers

Answer:

10

Explanation:

I believe it's 10 let me know if its correct.

Vocational counselors group career and occupation specialties into 16

career clusters.

3) The ________ includes the entire planet and all of its living and nonliving parts.

Answers

The Biosphere has all living and non-living parts.

Do you think it is easier to increase or decrease government spending

Answers

It is much easier to increase government spending, because it gives a temporary boost, whereas decreasing it would take away the benefits you had before, and might mess up other "things" that relied on that part you just removed to decrease government spending.

Nami is very good at research is skilled at developing instructional materials and knows about libraries and information
A)Teaching and training
B) professional support services
C)administration
D)educational services

Answers

The answer is: B) professional support services

Skills in developing instructional materials and research make you a very valuable assets in providing data that needed by the people on the field (the front liners).

The duty of professional support services is to collect relevant data from company operations, processing that data, and provide instructions or advice for the front liners on how to use that data to their advantage.

Answer:

The answer is: B) professional support services

Explanation:

I got it right

suppose that a high crime neighborhood is plagued by numerous abandoned home and malfunctioning street lights applying the broken window theory what steps should local politicians take to reduce crime in the area why

Answers

The "broken window" theory proposes the idea that if there is a part of a city which looks disorganized, broken, and abandoned, chances are that there is a lot of crime in that particular area of the city. What the politicians could do in this case is urge the police to take care of this by starting with the smaller, petty crimes, rather than focusing only on the most serious crimes. They could catch perpetrators who perform acts of vandalism, because usually such small crimes lead to more serious crimes such as theft, r.ape, or murder. These politicians could raise awareness of the public that there is a problem in that particular area which has to be solved if they want to live in a safe and beautiful environment. 

what happens when a bond becomes due?

A.)You pay it back to the issuer, plus interest
B.)The issuer will pay you back, minus interest.
C.)The issuer will pay you back, plus interest.
D.)You pay it back to the issuer, minus interest.

Answers

I believe the answer is: C.The issuer will pay you back, plus interest.

The due time of the bond and the interest rate would be mentioned by the issuer before you make the purchase of the bond. The interest that the issuer give back is a form of profit that given because you are willing to take risk to put your money as investment.

When supervisors directly oversee the actions of employees, monitoring employees' work and correcting problems as they occur, ________ control is taking place?

Answers

the answer to this question is concurrent control
Concurrent control refers to the type of control by management in order to make sure that all employees are meeting the required regulations and standard.
This type of control is used to make sure that employees will always meet company's expectation so the company could realize all of its planned goals.

Please tell us if there is an abstraction level of technology that you are particularly interested in

Answers

What grade are you in? I don't understand the problem

Answer:Information communication Technology

Explanation:

Virtually all business needs technology to expand its growth. It has been seen that most business move faster with the aid of e-commerce. And with this business can compete globally to the consumers.

If a manager chooses inappropriate goals, but makes good use of resources to pursue these goals, it results in:

Answers

By implementing inappropriate or improper goals in a given company, but throwing resources and capital at it in order to achieve it, this will ultimately lead to a waste of resources on behalf of the company. A failure to implement effective goals would counter-act on the impact of resources that are being allocated. The correct answer is HIGH EFFICIENCY / LOW EFFECTIVENESS. 

To help you StartSafe and StaySafe when working with electricity, you should always: A. All answer choices are correct B. Use ground-fault circuit interrupters. C. Inspect extension cords, and use power tools and equipment as designed. D. Follow proper lockout/tagout procedures E. Maintain a safe distance from overhead power lines.

Answers

the answer is A. all answer choices are correct

Answer:

A) All answer choices are correct

Explanation:

To help you StartSafe and StaySafe when working with electricity, you should always do the following to prevent electrocution;

- Use ground-fault circuit interrupters.

-  Inspect extension cords and portable tools.

- Use power tools and equipment as designed.

- Follow proper lockout/tagout procedures and

-  Maintain a safe distance from overhead power lines.

A map made to show the distribution of one or more phenomenon is a(n) ________ map.

Answers

Final answer:

A thematic map is used to show the distribution of one or more phenomena, with patterns such as clustered, random, or dispersed being important for understanding spatial relationships in geography and cultural ecology.

Explanation:

A map made to show the distribution of one or more phenomena is a thematic map. Thematic maps serve a particular purpose, which is to highlight specific types of information, such as the distribution of plant species, population densities, or climate patterns. According to the context provided, the pattern of phenomena on a landscape, be it clustered, random, or dispersed, may help geographers and scientists to understand causality and make predictions. This understanding is facilitated through the use of Geographic Information Systems (GIS) that can statistically measure these patterns. Thematic maps also play a crucial role in the study of geography and cultural ecology as they provide visual representation and allow geographers to communicate spatial data effectively.

Fragmental co. leased a portion of its store to another company for eight months beginning on october 1, at a monthly rate of $800. fragmental collected the entire $6,400 cash on october 1 and recorded it as unearned revenue. assuming adjusting entries are only made at year-end, the adjusting entry made by fragmental co. on december 31 would be:

Answers

The adjusting entry on December 31 for Fragmental Co. would be a debit to unearned revenue and a credit to rental income for $2,400, which represents the rent earned for three months at $800 each month, aligning with GAAP principles.

The adjusting entry made by Fragmental Co. on December 31 would involve recognizing the portion of the cash collected on October 1 that has now been earned. Since the lease began on October 1 and it is now December 31, three months have passed, meaning the company has earned 3 months of rent at $800 per month. The necessary adjustment would be to debit unearned revenue for $2,400 and credit rental income for the same amount.

The journal entry would look like this:

Debit Unearned Revenue: $2,400Credit Rental Income: $2,400

This entry moves the earned portion of the pre-collected rent from a liability account (Unearned Revenue) to an income account (Rental Income), aligning with the revenue recognition principle required by GAAP.

A small cruising ship that can hold up to 58 people provides three-day excursions to groups of 38 or more. if the group contains 38 people, each person pays $72. the cost per person for all members of the party is reduced by $1$1 for each person in excess of 3838. find the size of the group that maximizes income for the owners of the ship.

Answers

Final answer:

This is a problem in business mathematics involving maximization of profit. The question can be solved by setting up an equation involving the cost per person and the number of people, finding the derivative, and solving for when this derivative equals zero. This yields the optimal group size to be 56 people.

Explanation:

This is a maximization problem in mathematics, specifically in the field of business mathematics. The income of the company is dependent on the number of people on the cruise, with the cost per person decreasing as the size of the group increases. We first set up an equation to represent the income based on the size of the group:

Income = ($72 - (n - 38)) * n

This formula calculates the income by multiplying the cost per person by the number of people (n).

To find the size of the group that maximizes income, we can plot this equation and find the maximum point on the curve. Alternatively, we can take the derivative of the equation, set it equal to zero and solve for n. This will yield the point at which the income is at a maximum.

Doing this yields n = 56. Therefore, the size of the group that maximizes income for the owners of the cruise ship is 56 people.

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The central bank of the united states is often called the banks' bank. what is it

Answers

The central bank of the United States, also known as the bank's bank is "The Federal Reserve"

Answer:

The central bank of the United States is often called the "Federal reserve bank".

Explanation:

In the United States, the three primary functions or goals which are played by the Central Bank are such as:

The Central Bank of the United States is responsible for providing financial services. The Central Bank of the United States regulates and supervises financial firms.The Central Bank of the United States is responsible for the conduct of Monetary policy.

List and explain six specific ways to control the rising cost of health care.

Answers

Make the Most of Wellness Programs: Participating in biometric screenings, such as checking blood pressure and cholesterol levels. Let a Discount Card Fill the Gaps: Look for plans that allow you to try it for 30 days and get a refund within that period if you’re not satisfied. Shop Around for the Best Price: Save a significant amount of money simply by changing their health care provider. Get Your Free Preventive Care: By taking advantage of your health plan’s free preventive services, you may be able to identify potential areas of concern before they balloon into something bigger. Make Smart Lifestyle Choices: You can reduce your chances of developing a chronic condition or needing to be hospitalized by eating a balanced diet, staying active and avoiding risky behaviors. Use an HSA with Eligible High-Deductible Plans: Money deposited into an HSA rolls over each year and can be used tax-free for medical expenses, even if your insurance changes.

A trade show is usually focused on what?
a. an employer
b. an industry
c. a school
d. a craft

Answers

the answer is B an industry

the answer is b. an industry

Is economics only about money? explain your answer.your answer?

Answers

Absolutely not. Economics also deals with comparing different options and alternatives to a situation that is given. While some the choices presented may have money involved, it doesn't inherently make economics solely about money.

Alicia and sarah are at the supermarket. alicia wants to get peanuts from the bulk food bins and sarah wants to get almonds. the almonds cost $6.50 per pound and the peanuts cost $3.50 per pound. together they buy 1.5 pounds of nuts. if the total cost is $6.75, how much did each girl get?

Answers

0.5 pound of almonds for Sarah 1 pound of peanuts for Alicia Write some equations to express what we know 6.75 = 6.5A + 3.5P P = 1.5 - A So substitute 1.5-A for P, giving 6.75 = 6.5A + 3.5P 6.75 = 6.5A + 3.5(1.5-A) Solve for A 6.75 = 6.5A + 3.5(1.5-A) 6.75 = 6.5A + 5.25 - 3.5A 6.75 = 3A + 5.25 1.5 = 3A 0.5 = A So they got 0.5 pound of almonds and 1.5 - 0.5 = 1 pound of peanuts

Which of these would most likely cause an increase in the price of an item?

Answers

One of the main cause is an expansion in the cost of raw materials for a certain product. The law of expanding costs is a rule that expresses that once all components of creation are at most extreme yield and proficiency, delivering more will cost more than normal. As generation builds, the open door cost does also.

In many hospitals, orientation training expense (aka educational resources) is a shared expense that will be allocated to multiple departments. in these cases it is

Answers

Orientation training is an expnse that is shared among mulitple departments so as to the reduce the amount of cost that can be incured during this training. It would require someone that is qualified to give an orientation about the hospital, and so they should have a sufficient knowledge of this particular hospital. Furthermore oreientaion is similar for most departments so the cost can be shared since there are no specific needs for a particular department.

In portfolio​ analysis, a company must identify​ __________, which are key businesses that make up the company.

Answers

The answer in the space provided is product, it is because the product of each company are one of the things that must be identified in order to understand and learn information about the business and to be able to know how to make up the company and to progress it.

Managers should run a business ethically because

Answers

Managers should run a business ethically because it is the right thing to do.
They should do things ethically just because they are afraid of punishments and repercussions. Instead, they should understand the importance and moral value of acting ethically because they will set an example and then the employees will be ethical as well. 
Because it is the right thing to do.
Before even considering the economic aspects on why they should run a business ethically, they need to first consider the morality aspect on treating other people with good intent.
On top of that, running a business ethically will improve's consumers' loyalty toward your company which will make your sales become more stable each year.

A copy machine was purchased for $35,000. it is estimated that the machine will have a useful life of 4 years with a residual value of $3,000. it is estimated that the machine will make 2,000,000 copies. using the unit-of-output method to depreciate the copy machine, how much will be depreciated if during the first year 550,000 copies were made?

Answers

First calculate cost per unit
Unit cost=(purchased cost-salvage value)÷ total units

Unit cost=(35,000−3,000)÷2,000,000
=0.016

Depreciated if during the first year 550,000 copies were made
0.016×550,000=8,800

Hope it helps!

Why is the establishment of generally accepted standards of practice and training in digital forensics important?

Answers

Given the ubiquitous nature of technology in our daily lives, digital forensics plays an important role in the live of nearly every citizen of a developed country. The movement of currency in electronic banking, the transactional nature of online purchasing, and the trade in intellectual properties like music and photos are done entirely within a network that may or may not be secure. A digital forensics specialist must be versed not only in how the technologies work but be able to share their data with others who can work to eliminate weaknesses within these protocols that affect nearly everyone with access to a device that connects them to the outside world in some way.

According to maslow, the authority and responsibility of an effective manager focuses upon which level of needs?

Answers

the answer to this question is Esteem level of needs
Esteem level of needs refers to the need/desire in humans for respect, self-confidence, and self-esteem.
If the manager able to fulfill all of these needs towards his/her employees, the employees will be motivated in their works and will most likely to increase their productivity

what type of promotions do you think are most effective in the sports and entertainment marketing industry? explain

Answers

there is a few different ways to effectively promote  one way of promoteing would be on major networks like espen  the more views a network gets the more effective a promotion would be

The effectiveness of promotions in the sports and entertainment marketing industry often depends on the target audience, the nature of the event, and the marketing goals.

Some types of promotions that are commonly effective in this industry

Social Media Campaigns: Leveraging platforms like In stagram, Tw itter, and Face book for engaging and shareable content can be highly effective. This includes teasers, behind-the-scenes footage, and interactive campaigns.

Sponsorship and Partnerships: Aligning with popular brands or influencers can enhance visibility. Sponsorships, especially with well-known athletes or celebrities, can create a positive association with the event.

Giveaways and Contests: Offering free tickets, exclusive access, or merchandise through contests and giveaways can generate excitement and encourage audience participation.

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Are there different laws for individuals and businesses?

Answers

The answer to the statement is yes. It is because laws are important to promote fairness and peace. Laws are established to get things done in order and in different places and environment, there are different laws to be followed in which the statement above is related to it.
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