Business

13 January, 01:13

How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per year into an account beginning one year from today that pays 12 percent per year if you wish to have a total of $1,000,000 at retirement?

A. 10.2 years

B. 10.5 years

C. 14.8 years

D. 11.5 years

+4

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per year into an account beginning one year ...” 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

Consider the following case:The Purple Lion Beverage Company expects the following cash flows from its manufacturing plant in Palau over the next six years:Annual Cash Flows Year 1 Year 2 Year 3 Year 4 Year 5 $400,000 $37,500 $480,000 $450,000

Anwer owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $8,000 from renting the home.

Which type of investment can be redeemed at the end of a specified period? A. Stocks B. Bonds C. Mutual funds D. Treasury bills

Suppose the market for pizzas is unregulated. That is, pizza prices are free to adjust based on the forces of supply and demand. If a shortage exists in the pizza market, then the current price must be ... (higher, lower) than the equilibrium price.

nformation for firm ABC: Inventory at the end of April, 2008: 200 units Expected demand during April, 2008: 50 units Production expected during April, 2008: 100 units What was the inventory at the end of March 2008

New Questions in Business

If you put all the profits into your business, you may not be able to do which of the following? A: hire an accountant B: fund your IRA C:pay for your marketing D:develop new products

Henry Sweet Co. currently makes 6" candy sticks that it sells for $0.20 each. Henry can make 12" candy sticks out of two 6" candy sticks by melting them together, which costs an additional $0.03 per 12" stick. Henry can sell the 12" sticks for $0.45.

The customer relationship management process involves all the activities related to receiving and approving orders, shipping the goods on time, and collecting payment. Group of answer choices True False

Explain, in your own words and step-by-step, what happens to wastewater once it reaches the treatment plant. (6 steps)

The following information is from the 2017 records of Armand Music Shop: Accounts receivable, December 31, 2017 $43,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,500 (debit) Net credit sales for 2017 178,000 Accounts