Approximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years, during which time the fund will earn 8% interest with monthly compounding? (roound to the nearest hundred dollar). A. $261,500.00 B. $323,900.00 C. $578,700.00 D. $690,000.00 E. Cannot be determined due to other factors.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Approximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are employed in this economy? A. 300 million B. 30 million C.
Answers (1)
If an organization is using applications rented from a third party vendor running in a remote location, they are most likely using what type of software system?
Answers (1)
In a results oriented organization that focuses on quality and teamwork, which level of organizational structure should assume primary responsibility?
Answers (1)
Whispering Winds Corp. purchased merchandise inventory with an invoice price of $11700 and credit terms of 2/10, n/30. What is the net cost of the goods if Whispering Winds Corp. pays within the discount period?
Answers (1)
On May 22, Jarrett Company borrows $7,500 from Fairmont Financing, signing a 90-day, 8%, $7,500 note. What is the journal entry needed to record the transaction by Jarrett Company? Multiple Choice Debit Cash $7,500; credit Notes Payable $7,500.
Answers (1)
New Questions in Business
A retired person with $200,000 to invest states that "current income" is her main investment objective. Which of the following would be most suitable? (A) High yield bonds and growth stocks (B) Municipal bonds, U. S.
Answers (1)
How do compliments and substitutes affect demand?
Answers (1)
Non-trade receivables should be reported separately from trade receivables. Why is this statement either true or false? A) It is true because trade receivables are current assets and non-trade receivables are long term.
Answers (1)
In general, a visionary organization asks what three types of questions to specify its foundation, set a direction, and formulate strategies? why, when, where what, by whom, how why, what, how how, when, where who, why, when
Answers (1)
The United States wanted overseas territories because the territories had A) access to ports. B) customers who would buy U. S. products. C) connections with European nations. D) access to raw materials.
Answers (1)