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Author Question: You start working at age 20 and you plan to deposit 5,000 in a savings account every year for the ... (Read 84 times)

iveyjurea

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on: Jul 1, 2018
You start working at age 20 and you plan to deposit 5,000 in a savings account every year for the next 45 years. a. At the end of this time, how much money will you have if the interest rate is 5? b. You decide that's not enough money.
 
  How much will you have to save every year if you wish to have 1,000,000 when you retire?

Question 2

If a foreign producer sells a good in a country at a lower price than in its home market, this is called
 
  A) a countervailing duty.
  B) a tariff offset.
  C) dumping.
  D) a reverse tariff.


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chem1s3

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a. FV = 5,000 ((1 + i)n - 1)/ i  = 798,500
b. You will have to save 6,261 per year.

Answer to Question 2

C


iveyjurea

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Reply 2 on: Jul 1, 2018
:D TYSM

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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