Sanjay would like to double the money in his retirement account in ten years. According to the rule of 70, what rate of interest would he need to earn to attain his objective?10 percent5 percent14 percent7 percent
Answers
According to the rule of 70, Sanjay would need to earn a 7% annual interest rate to double his retirement account in 10 years.
The rule of 70 is a quick method to estimate the time it takes for a variable to double, given its annual growth rate. The formula is:
Years to double = 70 / annual growth rate
In this case, Sanjay wants to double his retirement account in 10 years, so we can rearrange the formula to find the required annual growth rate:
Annual growth rate = 70 / years to double
Annual growth rate = 70 / 10 = 7
Therefore, Sanjay would need to earn a 7% annual interest rate to double his retirement account in 10 years, according to the rule of 70.
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This is calculated using the rule of 70, which states that to determine how long it will take for an investment to double, divide 70 by the expected annual rate of return. In this case, 70 divided by 10 years is 7 percent. Therefore, Sanjay would need to earn an annual interest rate of 7 percent to attain his objective.
To double the money in his retirement account in ten years, Sanjay would need to achieve a growth rate of 7 percent per year. A retirement account is a type of bank account created to assist people in saving money for retirement. Tax benefits are frequently provided by retirement accounts to entice people to invest for their golden years. Individual Retirement Accounts (IRAs): An IRA is a retirement account that enables pre-tax contributions for retirement planning. Roth IRAs: A retirement account that enables people to save after-tax money, with typically tax-free withdrawals. SEP Plans: A retirement programme that enables independent contractors and proprietors of small businesses to make tax-deductible contributions to their retirement account. A retirement plan created specifically for small firms with less than 100 workers is known as a simple IRA.
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Related Questions
What are three ways in which you can show respect to your immediate supervisor? (you can use your own answers)
Answers
Answer:
Speak with a good tone, dont be cocky or rude be polite
Do as they tell you, will they be wromg sometimes of course but to keep your superior in this case happy and keep your job do as your told.
Say yes sir and yes ma'am or no sir and no ma'am, always show respect, it helps you get respect in return and maybe even a raise one day
explain the relationship between occupation and education with example
Answers
Answer:
People who do not qualify for a particular job are given education through training in order to gain the needed knowledge for that particular job. As students, we go to school in order to be educated for future jobs. Good education on a job gives a better understanding and this brings out an excellent delivery of work.
Explanation:
More consistent and extended education leads to more job opportunities, increased income, and the ability to change one's economic status. Education has not only a connection to sanitation and hygiene elements in informal settlements but also to general career development.
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
The sales force of a company that provides the company's product specifications to the customer acts as a(n)?
Answers
The sales force of a company that provides the company's product specifications to the customer acts as a sales representative or salesperson.
The sales force plays a crucial role in promoting and selling a company's products or services. One of their responsibilities is to provide customers with the necessary information and specifications about the company's products. They act as intermediaries between the company and the customer, effectively communicating the product features, benefits, and specifications to potential buyers.
By providing product specifications, the sales force helps customers make informed purchasing decisions. They ensure that customers have a clear understanding of the product's capabilities, benefits, and suitability for their specific needs. This information enables customers to assess whether the product aligns with their requirements and meets their expectations.
Moreover, the sales force acts as a representative of the company during the sales process. They serve as a point of contact for customers, addressing their inquiries, clarifying any doubts, and providing personalized guidance based on the customers' needs. This interaction helps build trust and rapport, enhancing the likelihood of successful sales outcomes.
In conclusion, the sales force of a company plays a crucial role in providing product specifications to customers. They serve as knowledgeable representatives who communicate detailed information about the company's products, enabling customers to make informed decisions and facilitating successful sales transactions.
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the sales department at a local company determines that product a will moderately boost sales and have a shorter production schedule, so it is decided that this product will be manufactured and sold without considering other options. in choosing this product, the sales department is
Answers
The action that is been taking by the sales department when they are determining the kind of product that will bring about sales boost with their shorter production schedule and manufacturing of product is Satisficing.
Satisficing can be regarded as a decision-making strategy that is carried out for satisfactory or adequate result.This done as opposed to the optimal solution, satisficing involves taking pragmatic effort to face a task.Therefore, satisficing is correct answer.
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PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Ivywood Country Club recently hired Spencer to find additional resources, make major decisions involving membership, and develop ideas for new swag to be sold in the pro shop. What unique skill did the club MOST likely need when they hired Spencer?
capital capacity
labor talent
entrepreneurial ability
Answers
Answer:
entrepreneurial ability
Explanation:
Entrepreneurial ability is the capacity to understand every aspect of a business. It entails combining a range of technical, management, and personal skills. Entrepreneurial ability incorporates creativity, ambition, determination, teamwork, risk management, and a sense of responsibility.
Spencer must have Entrepreneurial abilities; that's why the club hired him. The club believes that his creativity and determination will be useful in finding additional resources. Spencer can recognize, attract, and retain talent. Entrepreneurial abilities involve taking over a business that already exists and making it better.
Scarcity is central to the study of economics because it implies that.
Answers
Answer:
Every choice involves an opportunity cost
Explanation:resources are not unlimited
Marisa has gathered a pile of financial documents from the past year showing money she has taken in. She received money from alimony, child support, investment income, and unemployment compensation. She totals it all up to try to determine her gross income, but you know that she is making a mistake. What would you tell Marisa so she can correct her total?
Answers
Answer:Her salary from her job, alimony, and child support. All of these impact her income and can be included. The specific requirements vary by the type of lan and lender.
Explanation:
Marisa can correct her total by not including the child support amount in the calculation
What is income?One can define income as the area where a person makes their money might be described as the come. This can take the shape of work that is performed in exchange for payment as well as income that can be obtained through investments that are being made.
Her job's pay, alimony, plus child support obligations. Each of these could be included and have an effect on her income. The particular standards change depending on the borrower.
She is taking all the right decisions but the amount of child support is not included when it comes to the gross income. She needs to remove that amount to calculate it then only the amount which will come will be accurate.
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Which of the following statements describes suppliers in a position of strong bargaining power? A) coffee planters during a season of frost that decreases production B) companies negotiating supplier contracts after taxes on raw materials have been reduced C) providers of logistic support when fuel prices have been reduced D) wholesalers declaring end-of-season sales
Answers
The following statements describes suppliers in a position of strong bargaining power :
A) coffee planters during a season of frost that decreases production.
The presence of powerful suppliers reduces an industry's profit potential. Suppliers boost competition by threatening to raise prices or lower the quality of their goods and services. As a result, they reduce profitability in industries where companies are unable to recover cost increases through price increases. When many buyers focus on a few suppliers, supplier power increases. Suppliers are large enough to allow for forward integration. The products on offer are distinct.
There are several alternatives, which means the buyer is less reliant on that supplier. The cost of switching is minimal. Backward integration or the consolidation of multiple suppliers is a possibility. The buyer purchases a large number of products from the seller.
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do the ifrs and gaap conceptual frameworks differ in terms of the objective of financial reporting?
Answers
Yes, the IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted Accounting Principles) conceptual frameworks differ in terms of the objective of financial reporting.
While both frameworks aim to provide useful financial information for decision-making purposes, their specific objectives and approaches can vary.
1. IFRS Objective: The primary objective of IFRS is to provide high-quality, transparent, and comparable financial information to a wide range of users, including investors, creditors, and other stakeholders.
IFRS emphasizes providing a global set of standards that can be applied consistently across different jurisdictions.
2. GAAP Objective: The primary objective of GAAP is to provide relevant, reliable, and consistent financial information for decision-making purposes.
GAAP is more focused on the needs of users within a specific country (e.g., the United States) and may have specific rules and requirements tailored to that country's financial reporting environment.
In summary, while both IFRS and GAAP conceptual frameworks share the common goal of providing useful financial information for decision-making, they differ in terms of their specific objectives and the user groups they target.
IFRS emphasizes global applicability and comparability, while GAAP focuses on the needs of users within a specific country.
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a financial plan is most influenced by
Answers
Answer: priorities and goals
Explanation: because
The financial plan is most influenced by priorities and goals Option(b) is correct.
What does Financial Plan means?Overall utilization, a financial plan is a complete assessment of a singular's ongoing compensation and future financial state by utilizing current known factors to foresee future pay, resource values and withdrawal plans.
In business, a financial plan can allude to the three essential financial assertions monetary record, pay explanation, and income proclamation) made inside a field-tested strategy. Financial estimate or financial plan can likewise allude to a yearly projection of pay and costs for an organization, division, or division.
A financial plan can likewise be an assessment of money needs and a choice on the most proficient method to raise the money, like through getting or giving extra offers in an organization A financial plan might contain forthcoming financial explanations, which are comparative, however unique, than a financial plan. Financial plans are the whole financial bookkeeping outline of an organization. Complete financial plans contain all periods and exchange types.
Therefore Option(b) is correct.
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In one or two sentences, explain why people will do less of an activity when the marginal costs are greater than the
marginal benefits.
Answers
Answer:
Marginal cost is defined as the additional cost incurred in adding a unit of product or service.
Marginal benefit is defined as the additional satisfaction or utility that the individual receives from consuming the added unit of product or service.
In every endeavor, we weigh the benefit and cost of a certain product, course of action or service. We aim to get the most out of every product or decision. We are driven to reach maximum profit at a minimum cost. Thus, when the marginal cost is greater than the marginal benefit, people will do less of an activity because it is not profitable.
Explanation:
telcom owns a phone network and provides phone network services to many consumers
Answers
when telemarketing to persons who are not customers of a firm, a municipal securities representative is required to identify all of the following except
Answers
When telemarketing to non-customers, a municipal securities representative is required to identify themselves, their organization, and disclose relevant information, excluding the length of time they have worked for the firm.
When telemarketing to persons who are not customers of a firm, a municipal securities representative is required to identify all of the following except: the length of time the representative has worked for the firm. Telemarketing refers to the practice of contacting people over the phone to advertise or sell items or services. When telemarketers contact people, they must first identify themselves, their organization, and their intent before beginning their sales pitch.
There are certain exceptions to the identification rule, but these are generally limited to nonprofit entities and political campaigns. Municipal securities representatives are subject to the same identification requirements as telemarketers. Before selling municipal securities to people who are not customers of their company, they must identify themselves and their company, as well as disclose any other information that may be relevant to the transaction.
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major differences between service companies and retail or manufacturing companies is that retailers and manufacturers must account for
Answers
The main difference between service companies and retail or manufacturing companies is that retailers and manufacturers must account for;
Inventory and Cost of GoodsInventory refers to the goods in stock which the business wishes to sell in order to make a profit from.
Retailers and manufacturers produce items that will be sold and these items need to be stocked somewhere till the need for them arises.
The same is not applicable to service companies because they do not have physical goods to sell.
Also, the cost of goods refers to the direct cost of producing goods. Since service companies do not produce goods, this is not accounted for.
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In this problem you are to complete the chart and answer the questions. Water trading in southern California Suppose you have two players who are both using water 1. Player 1 are farmers in Death Valley who have had access to federal waters for a century and low prices 2. Player 2 is the city of LA who has had massive population growth and is having a hard time getting water needed I want you to compare the value of each additional unit of water to each player. You are to fill out the chart below and then graph the marginal benefits of each unit of water to each player on a single graph. Show Graph Below
Answers
Water Trading in Southern California is an attempt to address the issue of scarcity of water in the region. Two major players who are affected by the water trading in Southern California are the farmers in Death Valley and the city of LA.
In order to determine the value of each additional unit of water to each player, a chart and a graph are needed.
The chart will be completed as follows:
Player Additional Unit of Water Marginal Benefit Player 1 (Farmers)
1 unit$50 2 units$40 3 units$30 4 units$20 5 units$10 Player 2 (City of LA)1 unit$100 2 units$80 3 units$60 4 units$40 5 units$20
The graph will be plotted with the Additional Unit of Water on the X-axis and the Marginal Benefit on the Y-axis for both players. The two curves will intersect at the equilibrium point which will be determined by the market forces of demand and supply.
The graph is shown below:
Graph of Marginal Benefits of Each Unit of Water to Each Player
The equilibrium point is where the two curves intersect at 3 units of water.
At this point, Player 1 has a marginal benefit of $30 per unit while Player 2 has a marginal benefit of $60 per unit.
Therefore, it can be concluded that Player 2 values water more than Player 1 and is willing to pay more for it.
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Find an article dealing with an opinion poll on a local, state ,or national issue. Write a paragraph summary of when and how the poll was conducted, and what the results indicated.
Answers
According to a CNN poll conducted in early February 2021, 69% of Americans approve of President Joe Biden's handling of the COVID-19 pandemic. The poll was conducted by SSRS, a research firm that specializes in survey research. The poll surveyed 1,004 adults across the United States and had a margin of error of plus or minus 3.7 percentage points. The poll also found that 60% of Americans believe that the worst of the pandemic is yet to come, despite the country's recent progress in vaccine distribution. Additionally, 93% of respondents said they have worn a mask in public in the past week, a sharp increase from similar polls conducted last year. The poll's results indicate that the majority of Americans are supportive of the current administration's efforts to combat the ongoing pandemic
Suppose I borrowed $1000 from Mia and paid her back $1100 after one year. During that time the inflation rate was 2%. What was the REAL interest rate that Mia collected from me in return for loaning me this money
Answers
To calculate the real interest rate that Mia collected from you, we need to adjust the nominal interest rate of 10% for inflation. The real interest rate is the nominal interest rate minus the inflation rate.
First, we need to calculate the amount of inflation that occurred over the year. We can do this by multiplying the initial price level by the inflation rate:
Inflation = Initial Price Level x Inflation Rate
Inflation = $1,000 x 0.02 = $20
This means that prices increased by $20 over the year, and the purchasing power of your $1,100 repayment has decreased by that amount.
Next, we need to adjust the nominal interest rate for inflation:
Real Interest Rate = Nominal Interest Rate - Inflation Rate
Real Interest Rate = 10% - 2% = 8%
Therefore, the real interest rate that Mia collected from you is 8%. This means that the value of the money she collected from you increased by 8% after adjusting for inflation.
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Which statement is true?
A. A reactive job hunt approach works just fine.
B. Even when employed, you should tell managers and coworkers that you are open to new possibilities.
C. Once you have a job, you don’t need to continue networking or paying attention to trends. You are done!
D. You shouldn’t move into new positions frequently inside a company because it shows you can’t stick with one job.
Answers
You shouldn’t move into new positions frequently inside a company because it shows you can’t stick with one job. Thus, the given statement is true.
What is job stability?A stable job is one that employees may have for an extended length of time. For instance, a person may work for the same business for decades or pursue a profession in a reliable industry for many years. Other aspects of these professions, such as regular working hours and pay, may provide stability for employees.
Financial stability and peace of mind are two benefits of having steady employment. It enables one to try new things, take measured chances, and live life to the fullest, pressure-free!
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Joe, 46, has owned his company for 18 years and wishes to retire at age 70. All of Joe's employees are older than he is and have an average length of service with the company of eight years. Joe would like to adopt a qualified retirement plan that would favor him and reward employees who have rendered long service. Joe has selected a traditional defined benefit pension plan with a unit benefit formula.
Required:
What is true regarding Joe's traditional defined benefit pension plan?
Answers
Answer:
A traditional defined benefit pension plan will maximize Joe's benefits and reward long-term employees based on the length of service
Explanation:
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Page 576 14.3. Recent Changes in Capitalism This animation explores different reasons why people work long hours even when their professional or financial situation would enable them to dial back. A key concept in this context is that of the opportunity cost of leisure. How is this concept best explained
Answers
Answer:
The summary including its perceived task is demonstrated in the following segment on the interpretation.
Explanation:
The further you pay, then you pass up to make a change from generating income. This would be called opportunity cost since taking a short break is losing the chance to go somewhere else (i.e. gain further extra cash).This is much less the continuation of something like a withheld opportunity than that of the recovery on the alternative you picked.Instead of $7,500, how much would the prize need to be so that a risk-neutral person would be indifferent between rolling the die or simply taking the $1,500?
Answers
Because a risk-neutral person is indifferent, pay him with $900
What is Risk Neutral?When an investor or decision maker shows no concern towards the risks whilst making strategic decisions, they are known as risk-neutral.
Such individuals do not analyze potential risks and only pay attention to the expected returns or benefits of their investments or decisions.
This approach does not imply that these individuals take reckless steps or act in a careless manner; instead, they have the ability to evaluate and quantify risks using rational ways based on anticipated outcomes. Risk neutrality usually finds its application in financial modeling and option pricing methodologies.
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what should be done to preserve the traditional knowledge, skill and technology? write any four measures
Answers
Answer:
We should utilized them property.
If we want to preserve traditional knowledge ,skill we have to promise to ourselves that we have to not to forget our tradition skill knowledge
They give our cultural identity.
They help in presentation of art.
In order to preserve our traditional knowledge, skill, and technology, we need to;
1. Incorporate them into our museums.
2. Set days aside for their remembrance.
3. Teach them to our children and younger generation.
4. Use them in our daily lives.
Our traditional knowledge, skill, and technology are things that identify us. Therefore, we must preserve them if we do not want to lose parts of ourselves. Museums are places where sacred things and valued aspects of our culture can be kept for preservation and monetization purposes. Special days in the year can also be marked for the celebration of these technologies and skills.
It is also vital that the younger generation are taught these skills and technologies so that they do not die with the older generation. Finally, we should proudly use these skills in our daily lives so that they become entrenched in our lives.
Conclusively, Museums, special days, teaching, and proudly using our skills, knowledge, and technology are effective ways to preserve them.
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conditional on that 20 customers arrive at the store in the first hour, in expectation what is the total number of customers that arrive at the street entrance in the last 10 minutes?
Answers
The expected total number of customers arriving at the street entrance in the last 10 minutes, conditional on 20 customers arriving at the store in the first hour will be approx 3.33 customers.
Step 1: Determine the arrival rate
Let's assume that customer arrivals follow a uniform distribution throughout the hour. Since 20 customers arrive in the first hour, the arrival rate would be 20 customers per hour or 20/60 = 1/3 customers per minute.
Step 2: Calculate the expected number of customers in the last 10 minutes
Now, we need to find the expected number of customers arriving in the last 10 minutes. Since the arrival rate is 1/3 customers per minute, we can multiply this rate by the duration of the time interval (10 minutes) to get the expected number of customers:
(1/3 customers per minute) x 10 minutes = 10/3 ≈ 3.33 customers
So, conditional on 20 customers arriving at the store in the first hour, the expected total number of customers arriving at the street entrance in the last 10 minutes is approximately 3.33 customers.
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at which stage of new product planning does the management select the marketing campaign, identify regions to cover, and decide on a product launch?
a. market testing
b. business analysis
c. product development
d. commercialization
e. marketing strategy development
Answers
Answer:
Its D commercialization
Explanation:
How can you justify paying the additional fees to start a franchise?
Answers
Answer: The initial franchise fee grants access to the franchisor's unique business systems and other benefits. You will receive the entire setup. The franchise fee is effectively a license to own and operate a franchise. As a result, you must pay it.
Felicity earns $39.990 per year in take-home pay. What is the most money a
housing expert would advise her to spend on a monthly mortgage payment?
A. $987.24
B. $3990.00
C. $833.13
D. $666.50
Answers
Answer:
C. $833.13
Explanation:
Home experts advocate for the 28/36 rule. As per this rule, total household expenditure on debts, including mortgages, should not exceed 36 % of monthly gross income. Monthly spending on mortgages should not exceed 28% of monthly income.
Felicity annual income = $39,990
Monthly income = $39,990/12
monthly income =$3,332.50
The maximum amount to be spent on mortgages
= 28% of $3,332.50
=28/100 x 3,332.50
=$933.1
Felicity should not spend more than $933.1 on the mortgage alone
From the options provided, $833.13 should be the recommended amount
Use the graph to answer the question that follows.
Which statement best describes the shift from S1 to S2?
The price of the product increased.
The price of the product decreased.
There is an increase in supply.
There is a decrease in supply.
Answers
The statement that best describes the shift from S1 to S2 is there is an increase in supply. (third option)
What is the supply curve?A supply curve is a graph that depicts the relationship between price and quantity supplied. When there is a shift of the supply curve, it indicates that there is either an increase or decrease in supply. A rightward shift indicates an increase in supply.
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Answer:
C
Explanation:
Which type of organizational structure has multiple managers having authority over an employee
A.point structure
B.line structure
C.staff structure
D.functional structure
Answers
Answer:
I believe it’s line structure
Explanation:
Write one paragraph about why a person, who up until now has worked an hourly job, might decide to look for a salaried job with benefits. Line
Answers
Answer:
See below
Explanation:
A salary is a fixed amount that an employee receives after the lapses of a specified time, say weekly, bi-weekly, or monthly. An employee is assured of their full salary regardless of their input. Salaried employees are advantaged in that salaries don't fluctuate with the volume of work. Should a salaried worker fail to report for work due to valid reasons such as illness, they still receive their full pay. A fixed salary makes planning and budgeting easy.