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
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get 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 there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
One thing that you realize would be detrimental to crew performance would be a leader who is overly concerned with keeping employees happy at the expense of performance. What leadership style is this?
Answers (1)
Single-industry resource towns built around either excavating raw materials like coal or lumber or transporting them by train tend to spring up suddenly.
Answers (1)
East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a
Answers (1)
If you wish to pay exactly the same life insurance premium each year, you would choose a: Question 5 options: nonparticipating policy. participating policy. variable life policy. term insurance policy.
Answers (1)
Flexible Budget for Assembly Department Cabinaire Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department.
Answers (1)
New Questions in Business
Which of the following statements is FALSE? A. The effective annual rate indicates the amount of interest that will be earned at the end of the year. B. The annual percentage rate indicates the amount of simple interest earned in one year. C.
Answers (1)
Match the business with the appropriate cost system (s) for that business using the number of the cost system where 1 = job order costing, 2 = process costing, and 3 = activity-based costing. a. Ketcher, Tryer, and Friar, attorneys-at-law b.
Answers (1)
Solemon Company has total fixed cost of $15,000, variable cost per unit of $6, and a price of $8. If Solemon wants to earn a targeted profit of $3,600, how many units must be sold?
Answers (1)
Using the following information, what is the amount of net income? Purchases $ 33,189 Selling expenses $ 758 Merchandise inventory, September 1 7,436 Merchandise inventory, September 30 8,978 Administrative expenses 760 Sales 51,684 Rent revenue 832
Answers (1)
You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs. O True O False
Answers (1)