subject
Business, 07.04.2020 22:30 keke6361

Joan quit her job at GM when she was 35 years old. Her friend, who is a financial advisor, recommended that she leave her 401(k) retirement savings in GM’s retirement plan rather than withdrawing or transferring the money to a new plan. Her friend said that, on average, Joan could expect a 6% increase per year if she left her money in the plan for many years, based on the past performance of GM’s plan. Joan will not be able to add more money to the GM 401(k) account, but can open a new one at her new job. A. Create a model for the amount of money Joan will have in her 401(k) after any number of years. Use A for the accumulated amount of money, t for the number of years, and P for the amount of money in the plan when she quit, which is called the principal. B. What percent of the principal will Joan have if she leaves the money in the account for the 32 years until she retires? What percent increase does this represent? Round each answer to the nearest hundredth of a percent. C. If Joan's original principal was $20,300 how much would be in the account when she retires?D. Approximately how many years will it take the principal to double? How long to quadruple?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 21:40
Morgana company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $168,000, $315,900, an $97,200, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,100, machine hours 24,300, and number of inspections 1,800. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection
Answers: 1
question
Business, 21.06.2019 21:50
Discuss how the resource-based view (rbv) of the firm combines the two perspectives of (1) an internal analysis of a firm and (2) an external analysis of its industry and its competitive environment. include comments on the different types of firm resources and how these resources can be used by a firm to build sustainable competitive advantages.
Answers: 3
question
Business, 22.06.2019 01:00
Azster inc. recorded sales revenue for the year that ended december 31, 2014 as $67,000. interest revenue of $5,300 and expenses of $14,000 were also recorded for the same period. what is aster’s net profit or loss?
Answers: 3
question
Business, 22.06.2019 05:30
Identify the three components of a family's culture and provide one example from your own experience
Answers: 2
You know the right answer?
Joan quit her job at GM when she was 35 years old. Her friend, who is a financial advisor, recommend...
Questions
question
Biology, 13.05.2021 22:30
question
Social Studies, 13.05.2021 22:30
question
Mathematics, 13.05.2021 22:30
question
Mathematics, 13.05.2021 22:30
Questions on the website: 13722360