Ellie is 30 years old and just started working for Microsoft. She is paid on the 1st of each month. Upon receipt of her gross monthly salary of $9,000, she immediately contributes $1,000 to the Group Registered Retirement Savings Plan (RRSP) where at the same time, the company matches her contribution. She guesses that she could earn 6% interest compounded weekly over this period. a) If she continues to do so for the next 35 years, how much will she have accumulated in her RRSP for her retirement? (1 mark) Calculate the amount that Ellie will receive: (1 mark)

Answers

Answer 1

If Ellie contributes $1,000 to her Group RRSP each month and Microsoft matches her contributions for 35 years, with a 6% annual interest rate compounded weekly, she will accumulate approximately $2,420,846 in her RRSP for her retirement.

To calculate the accumulated amount in Ellie's RRSP, we need to consider her contributions and the company's matching contributions. Since both Ellie and Microsoft contribute $1,000 each month, her total monthly contribution is $2,000.
The formula to calculate the future value of an ordinary annuity with interest compounded weekly is:
FV = P * (((1 + r)^nt - 1) / r)
Where:
FV = Future Value
P = Monthly payment (in this case, $2,000)
r = Interest rate per week (6%/52, as there are 52 weeks in a year)
n = Number of weeks per year (52)
t = Number of years (35)
Step 1: Calculate the weekly interest rate:
r = 0.06 / 52 = 0.001153846
Step 2: Calculate the number of weeks for the 35-year period:
nt = 52 * 35 = 1,820
Step 3: Calculate the future value of Ellie's RRSP:
FV = 2000 * (((1 + 0.001153846)^1820 - 1) / 0.001153846)
FV ≈ 2,420,846

In conclusion, Ellie will accumulate approximately $2,420,846 in her RRSP for her retirement if she continues to contribute $1,000 and Microsoft matches her contribution for 35 years with a 6% annual interest rate compounded weekly.

To know more about Interest visit :

https://brainly.com/question/30955042

#SPJ11


Related Questions

When a consumer is able and willing to buy a good or service, what does he or
she create?
a. Supply
b. Rush
c. Demand
d. Momentum

Answers

I’m pretty sure it’s C

1. During light phase of photosynthesis. Medien
is oxidised and MANA
is
reduced.​

Answers

Answer: The correct answer is 'water and NADP' respectively.

Explanation:

The light reaction takes place in thylakoid discs. There, water is oxidized and oxygen is released. The hydrogen is accepted by NADP and hence get reduced to NADPH  2

how much do you have to go to work for a baby delivery nurse job (not being lazy actual question for my career research elective)

Answers

Answer:

Alot

Explanation:

It depends on how you go about getting your RN

Who is the group of people MOST likely to purchase a company's products?
O A.marketing mix
О в.target market
O C.primary audience
O D. advertising audience

Answers

Option B is correct.A target/goal market is a crew of customers with shared demographics who have been recognized as the most likely buyers of a company's product or service.

Why is goal market important?

Having the right target market helps you decide where to find practicable purchasers who are looking for what you have to offer. If you have a target market, you know where to concentrate your advertising and marketing efforts and what to provide that is compelling and properly received.

For example, a children's toy may additionally have boys a while 9–11 as the target market and the boys' mother and father as the target audience. It may additionally also be defined as the consumer segment most likely to be influenced through an advertising campaign. The target market is also awesome from the buyer persona.

Learn more about target market here:

https://brainly.com/question/20974098#SPJ1

if the government determines whether you get an apartment, you are most likely living in a [1] economy. In a [2] society, the government controls the resources. In a [3] society, the community in theory is supposed to control the resources, but in reality, the [4] does.
[1]- a. command
b. market
c. traditional
[2]- a. capitalist
b. communist
c. socialist
[3]- a. capitalist
b. communist
c. socialist
[4]- a. government
b. individual
c. market

Answers

Answer:

1.  a. Command

2. c. Socialist

3. b. Communist

4. a. Government

Explanation:

"If the government determines whether you get an apartment, you are most likely living in a Command economy. In a Socialist economy, the government controls the resources. In a Communist society, the community, in theory, is supposed to control the resources, but in reality, the Government does."

1. A command economy is a type of economy where the government determines what is produced when it is produced, the quantity, as well as the price at which commodities are produced. The government also determines other activities in the economy such as the assignment of living spaces as well as the investments in the economy.

2. A socialist economy is an economy where goods are produced for consumption and are distributed to ensure equity by a centrally placed authority, which is the government.

3. A communist society according to Karl Marx is a classless society where all the resources belong to the entire community and properties are not owned by private individuals. In reality, though, the government actually controls the resources in this type of society. China is a country that practices communism.

the absence of which of the following best explains why government agencies are slower to correct mistakes than private firms. group of answer choices competition or a threat of new entry discrimination in wealth distribution imperfect information monopoly of coercive power

Answers

The absence of D. competition or a threat of new entry best explains why government agencies are slower to correct mistakes than private firms.

Private firms operate in competitive markets where they face the risk of losing customers or market share if they fail to rectify mistakes promptly. This competitive pressure motivates private firms to be agile and responsive in addressing errors. In contrast, government agencies often lack competition or face limited threats of new entry, resulting in reduced external pressures to correct mistakes quickly. The absence of competitive forces can lead to complacency, bureaucratic inefficiencies, and slower decision-making processes within government agencies, which can hinder their ability to rectify mistakes in a timely manner.

Learn more about private firms.

https://brainly.com/question/32375390

#SPJ4

Full Question ;

The absence of which of the following best explains why government agencies are slower to correct mistakes than private firms.

A. imperfect information

B. discrimination in wealth distribution

C. monopoly over the economy

D. competition or a threat of new entry

Report Student is required to discuss the impact of Covic-19 in Public Sector especially on Financial Reporting and Auditing part. Following is the contents to be included: 1. Main risks and challenges associated with Covid-19 spending in the public sector. 2. Impact of Covid-19 on the Financial Reporting and auditing role in maintaining the accountability.

Answers

Title: The Impact of COVID-19 on Financial Reporting and Auditing in the Public Sector Main risks and challenges associated with COVID-19 spending in the public sector:

The COVID-19 pandemic has significantly affected the public sector's financial landscape, giving rise to several risks and challenges. Firstly, there has been a surge in government spending to address the health crisis and mitigate its economic impact. This increased spending has exposed the public sector to the risk of fraud, misappropriation, and improper financial management. With the urgency to disburse funds quickly, proper due diligence and oversight measures may be compromised, leading to potential misuse of public resources. Additionally, the pandemic has disrupted normal procurement processes, making it challenging to ensure transparency and competitive bidding for public contracts.

Impact of COVID-19 on Financial Reporting and Auditing in maintaining accountability:

The COVID-19 pandemic has had a profound impact on the financial reporting and auditing functions within the public sector, significantly affecting the maintenance of accountability. Firstly, the crisis has caused substantial economic volatility and uncertainty, leading to increased complexities in financial reporting. Government entities must grapple with new accounting treatments for stimulus packages, loan forgiveness programs, and grants, requiring careful assessment and disclosure to provide accurate and reliable financial information.

Moreover, the shift to remote work arrangements and disruptions in internal controls have raised concerns regarding the accuracy and completeness of financial data. With limited access to physical documents and potential delays in information exchange, there is a heightened risk of errors, omissions, and fraudulent activities. Consequently, auditors face challenges in conducting thorough and effective audits to ensure the integrity of financial statements and compliance with relevant regulations.

To mitigate these challenges, public sector entities should strengthen their internal control systems, enhance transparency and accountability measures, and invest in technology to facilitate remote auditing and financial reporting processes. Additionally, collaboration between governments, auditors, and oversight bodies is crucial to address emerging risks and implement robust monitoring mechanisms.

In conclusion, the COVID-19 pandemic has presented significant risks and challenges in the public sector, particularly in terms of financial reporting and auditing. Effective measures must be implemented to ensure the appropriate use of funds, maintain accountability, and provide accurate financial information during these unprecedented times.

learn more about  COVID-19 here:

https://brainly.com/question/32552322

#SPJ11

Suppose that the federal government decides to increase the
excise tax on cellular phone services by 0.1 percent. Why will this action cause the
equilibrium price of cellular phone services to rise?

Answers

The federal government decides to add 0.1 percent to the excise tax on mobile phone services. A higher excise tax will cost producers more money, which will result in less supply. The equilibrium cost of mobile phone services increased as a result of this activity.

The quantity of a particular good or service that suppliers are willing to sell to customers at a particular price point and for a particular length of time is referred to as the supply in economics.

The division of governmental authority between the federal government and state and municipal governments is known as a federal system of government. The federal system, often known as federalism, was founded by the US Constitution.

To know more about supply, click here:-

brainly.com/question/28177667

#SPJ1

Which of the following is true about bonds?
A. The bond rating being changed from BBB+ to B would result in a lower required yield
B. The primary advantage to municipal bonds is that interest income received is not taxed by the federal government
C. Interest from mortgage bonds are not taxed by the Federal Government.
D. Spread to treasuries measures the difference between the coupon rate paid by a bond and the coupon rate paid by risk free security with the comparable maturity
E. Only bonds issued in the primary market are subject to prepayment risk

Answers

Answer:

B. The primary advantage to municipal bonds is that interest income received is not taxed by the federal government.

Explanation:

A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.

A municipal bond can be defined as a type of bond that is typically issued by a municipality, county, local government or state in order to finance or sponsor capital expenditures for the public such as water supply, construction of roads, etc.

Hence, the primary advantage to municipal bonds is that interest income received on this type of bond is not taxed by the federal government.

Select the correct answer.
What is an opportunity cost?
Olost benefits of other opportunities
cost of taking up an opportunity
costs incurred to receive the benefits of an opportunity
O costs incurred when the wrong opportunity is selected

Answers

Answer:

lost benefits of other opportunities

Explanation:

Answer: lost benefits of other opportunities

Explanation:

In which type of business do shareholders own a portion of the company and have some say in how it is run?
Corporation
Limited liability
Partnership
Sole proprietorship

Answers

Partnership  type of business do shareholders own a portion of the company and have some say in how it is run. The three primary types of partnerships are general partnerships.

Limited partnerships, and limited liability partnerships when referring to a for-profit endeavor carried out by two or more people. All partners in a general partnership are equally liable financially and legally. Through company partnerships, you can access more information, skills, and resources that will help you create better goods and reach a wider market. When combined with 360-degree and the feedback, all of these can help your business reach new heights.

To learn more about company, click here.

https://brainly.com/question/27238641

#SPJ1

Answer:

corporation

Explanation:

I took the test and got it right

what is the relationship between urbanization and migration​

Answers

Answer:

Migration leads to urbanization.

Explanation:

Migration is the movement of people from one place to another. Urbanization is more or less the increase of population if cities. When people migrate, cities are more likely to become populated.

hope this helped!

Do any of y’all got cash app , but heyyy thankz for all the help

Do any of yall got cash app , but heyyy thankz for all the help

Answers

your welcome 2x-2=200

2. Maquan has to write a paper for his English class , which is due Tuesday . He waits until Monday at 9pm to get started . He no longer has the ability to ask his teacher for help . This is an example of
A. Procrastination
B. Spontaneity
C. Compliance
D. Synthesis

Answers

Answer:

Explanation:

It's procrastination.

Procrastination is the act of putting off till tomorrow what should be done as soon as you know about it. Most people really do procrastinate. They have a growth. What wants to find out about that?

They wait to see a doctor. Who needs to find out about Cancer?  

Students get papers to write. The subject is complex and requires a lot of reading. Who wants to do that when there's a touch football game (both sexes playing) outside just waiting to be enjoyed. Who needs all those footnotes?

In this activity, you will draft your own cover letter You do not need to have a specific person or employer to address the letter right now. After you draft and save a template, you will be able to revise and customize the cover letter to meet your needs in the future. The activity worksheet is a basic template to guide your writing. A rubric is also included on the worksheet to help you review your letter. You might ask your pod leader or another
significant adult in your life to review your cover letter, too.

Answers

A cover letter is a one-page document that you include with your resume or CV when applying for a job. Its objective is to introduce you and provide a brief summary of your professional history. Your cover letter should be between 250 and 400 words long on average.

What exactly is a cover letter?

A cover letter typically consists of three paragraphs that explain why you are applying for a particular position, provide a brief summary of your professional history, and highlight your unique qualifications for the position. Some employers require applicants to submit a cover letter, while others make it optional.

In a cover letter, how should one introduce themselves?

Yes, your cover letter should introduce you. Include your name, the position you're applying for, and how you found it in your introduction. For instance: I'm Henry Applicant and I'm applying for the open position of Account Manager on LinkedIn.

Learn more about cover letter here:

https://brainly.com/question/12408389

#SPJ1

A small business owner has decided to form a ______________ after deciding that she wants to maximize revenue, minimize taxes, give back to the community, and exercise total control over her business.

Answers

Answer:

Sole proprietorship

Explanation:

If you want to minimize taxes and avoid double or even triple taxation, your options are a sole proprietorship, a partnership (general or limited liability) or a limited liability company. The IRS considers them pass through entities, so they are not taxed directly, you are.

But if you want to exercise total control over your business, the options narrow down to only a sole proprietorship because all the others involve other people being co-owners of the business.  

Previous
4
Next
Lifelong Learning: Mastery Test
4
Select the correct answer.
Why do many organizations encourage their employees to be lifelong learners?
O A employees will be more able to handle increasing responsibilities
OB. employees will be more likely to follow company policies
OC employees will be more likely to remain loyal to the company
OD. employees will be more likely to interact well with each other
Reset
Next

Answers

Answer: A. employees will be more able to handle increasing responsibilities.

Explanation:

Lifelong learning refers to the ongoing pursuit of knowledge for personal or professional reasons. When a person is a lifelong learner, such person has a growth mindset and pushes himself or herself to find new ideas to solve challenges.

Several organizations encourage their employees to be lifelong learners in order for such employees to be able to handle increasing responsibilities. Some organizations send their employees to study some courses which will help in their growth and development and also to be able to handle certain responsibilities.

Will the grading period effect what college you will go to later on?
A (True)
B (False)

Answers

Answer: A

Explanation:

Answer:

NO

Explanation:

The supply and demand for money is the major influence on the level of interest rates.
true or false?

Answers

Answer:

true

Explanation:

Which best describes the facilities involved in the Healthcare cluster?

Some facilities are privately owned, some are funded and run by the government, and some are run by nonprofit organizations.
Some facilities are privately owned businesses that are owned by people who want to make money, and some facilities are nonprofit hospitals.
Most facilities are funded by taxes and run by the government, while a small few are privately owned facilities run by people who want to make money.
Many facilities are nonprofit clinics with the rest of the facilities owned and operated by private individuals to make a profit.

Answers

Answer: (C) Most facilities are funded by taxes and run by the government, while a small few are privately owned facilities run by people who want to make money.

Answer:

C. government

an employee can be dismissed if their job surplus to requirements' outline why this state ment is false

Answers

Hiring labour is different from buying other goods and services, and the contract between the employer and the employee is incomplete. It does not cover what the employer really cares about, which is how hard and well the employee works.

Pete is thinking of skipping car insurance for the first year while he gets adjusted to car payments. Why is this a bad decision

Answers

Skipping insurance is a bad decision based on the fact that he would have to:

Pay for all the expenses when an accident occur. He would be driving illegally.

What is insurance?

Insurance coverage help to cover costs or expenses in case of unforeseen circumstances thereby saving costs.

Based on the given scenario skipping car insurance coverage will tend to result in him paying for people injury expenses or car crash injury expenses in a situation where he had an accident that resulted in people be injured.

He would as well have to pay for all the repairs costs of his car or vehicle since his car was not insured.

Inconclusion it is a bad decision as he would have to pay all the expenses when an accident occur and he would be driving illegally.

Learn more about car insurance here:https://brainly.com/question/25740123

Human resources is about trying to
find the best way to utilize which of
the following for the benefit of the
company overall?
A. loans
B. products
C. people

Answers

Answer:

I think b is that the answer

Dnstrstdhfgjfuufuufdydydyufcjcjigjvcjfrdgddfhh

Answers

Answer:

akvsgsssgsuajawgwgwjwiwbwiqk

Suppose the board of Nathan Corporation decided to do the share repurchase in problem 1-part b, but you, as an investor, would have preferred to receive a dividend payment. How can you leave yourself in the same position as if the board has elected to make the dividend payment instead

Answers

Answer:

If we sell 0.5 / 15 of one share we will receive $0.50 and the remaining shares will worth $14.50. This will be the same position as if the firm had paid a dividend.

Explanation:

Nathan Corporation is deciding to whether to repurchase shares. It is a decision made by company and its management to boost value of its stock. If the board makes a decision to make dividend payment then we will receive $0.50 per share. The share price total will be $14.50 which is same whether we receive dividend or not.

Which of the following is one of the primary responsibilities of the federal judicial branch?​

Answers

Answer:

to judge if laws made by the legislative branch are constitutional

Explanation:

Answer:

to judge the constitutionality of laws

Explanation:

Which professional helps individuals and families minimize risk?

Answers

Answer:

insurance agent.

the career profession who would help individual and families to manage and minimise risk would be insurance agent.

Explanation:

insurance is a field that manages protection from financial loss thus risk to it iwould be a component that they manage. insurance insurance agent would recommend the best product for individual and families according to their lifestyle and age

venta al contado de mercancia por $2.300.000=; iva: 19%: cual de las siguientes cuentas no corresponde
a. de mercancia
b. comercio al por mayor y por menor
c. iva
d. caja

Answers

Answer:

La cuenta que no corresponde al registro contable planteado es la B, comercio al por mayor y por menor.

Esto es así porque, al realizarse una venta al contado de mercancía por $2.300.000, con un IVA adicional del 19%, se están entregando mercancías, con lo cual se registra dicha salida de productos en el debe (opción A), ingresa un dinero correspondiente a IVA (opción C), y a su vez ingresa un monto de dinero que engrosará la caja del comercio, registrándose en el haber (opción D).

Louis needs to make an investment that will double in 5 years. Which interest rate, compounded annually, is the
lowest rate that will allow for this to happen?
A 4.4%
B. 7.2%
C. 14.4%
D. 16.6%

C is the correct answer
Just took test

Answers

Cccccccccccccccccccc

acem hardware purchased 7,000 gallons of paint in march. the store had 2,500 gallons on hand at the beginning of march, and expects to have 2,000 gallons on hand at the end of march. what is the budgeted number of gallons to be sold during march?

Answers

The budgeted number of gallons to be sold during March would be equal to the change in inventory, which is 5,500 gallons.

To determine the budgeted number of gallons to be sold during March, we need to calculate the change in inventory during the month. This can be done using the following formula:

Change in Inventory = Beginning Inventory + Purchases - Ending Inventory

Given:

Beginning Inventory = 2,500 gallons

Purchases = 7,000 gallons

Ending Inventory = 2,000 gallons

Using the formula, we can calculate the change in inventory:

Change in Inventory = 2,500 + 7,000 - 2,000

Change in Inventory = 7,500 - 2,000

Change in Inventory = 5,500 gallons

Learn more about inventory here:

https://brainly.com/question/31146932

#SPJ11

Other Questions
Should the Fed be independent or a government agency subordinate to Congress and the president? Suppose that a baseball is tossed up into the air at an initial velocity 28 m/s. Theheight of the baseball at time t in seconds is given by h(t) = 28t - 4.9t (in meters).a) What is the average velocity for [1, 1.5]?Velocityb) What is the average velocity for [1, 1.25]?Velocitym/sVelocitym/sc) What is the average velocity for [1, 1.1]?m/s Interpret In this graph, what are the independent and dependent variables? explain the trend or patern You observe in the graph 3a x 5b x 7c = 39375, then find value of 7a - 2b + 3c Why does the supply curve slope upward? To answer this question, use the choices below to identify the characteristics of an upward- sloping supply curve. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s) click the option twice to empty the box Increasing opportunity costs Increasing marginal costs Diminishing marginal utility A decrease in resource prices An increase in resource prices Increasing labor productivity Price Per Unit $5 10 15 20 25 30 Quantity Demanded Per Quantity Supplied Per Year Year 2,000 1,880 300 1,600 600 1,400 900 1,200 1,200 1,000 1,500 Refer to the above table. A shortage of 2,000 units will occur when the price is 1 which of the following questions are part of the five steps in stakeholder impact analysis? multiple select question. who are our stakeholders? how can we gain maximum competitive advantage without taking our stakeholders into account? what are our stakeholders' interests and claims? which stakeholders have little to no power over us? what opportunities and threats do our stakeholders present? PLEASE HELP Which of the following Oklahomans is known for his plan in support of alternative energy sources such as wind andsolar power?A. T. Boone PickensB. William Crowe.C. Walter CronkiteD. Bill Moyers Question 10 1 pts If a composer wants a particular note to stand out on to be played louder they will add an ____ under or over that note.I need this right away please help!! Is (2, 10) a solution to this system of inequalities? y 7 X 1 y > 4x + 2 Suppose that a high P/E ratio company undertakes acquisitions frequently, and usually buying companies with lower P/E ratios than itself. What should happen over the medium to long term to the P/E ratio of this serially acquisitive company? Is this type of serial-acquisition strategy value-destructive or not? Discuss Simplify using positive exponents What would you expect to find on a physical map of the United States?(select all that apply.)The Mississippi RiverThe Appalachian MountainsThe Rocky MountainsThe Himalaya Mountains If compressing a spring 0.500m causes a force of 1.50N, what is the spring constant of the spring?1.00N/m2.00N/m3.00N/m0.75N0/m define the term forest block and explain its importance to thelogging operation. 5. in theory, relative to the equilibrium position, where is the mass when its acceleration is at its maximum? (10 points) HELP PLS WILL CHOOSE BRAINLIEST!!! Type the correct answer in each box. 9(2+6)^2Please explain the answer if you can, thanks! Help! What is the answer. Please, help ASAP. Hello pls help me with this question and pls show all the steps thanyouuuu