1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
saw5 [17]
1 year ago
6

The winner of the first annual Tom Morris Golf Invitational won $105 in the competition which was held in 1899. In 2015, the win

ner received $1,460,000. If the winner's purse continues to increase at the same interest rate, how much will the winner receive in 2050
Business
1 answer:
antoniya [11.8K]1 year ago
5 0

$25968406.94.

a. Computation of Effective Interest Rate

Future Value = Present Value * (1 + r)^n

Future Value = $1460000

Present Value = $105

n = Number of Years = 116 Years

Future Value = Present Value * (1 + r)^n

1460000 = 105 * (1 + r)^116

13904.76 = (1 + r)^116

1.0857 = 1 + r

Effective Interest Rate = 8.57%

b.Future Value in the year 2050

Future Value = Present Value * (1 + r)^n

Present Value = $1460000

n = Number of Years = 35 Years

Future Value = Present Value * (1 + r)^n

Future Value = 1460000 * (1 + 0.0857)^35

Future Value = 1460000 * 17.7866

Future Value in the year 2050= $25968406.94.

Learn more about interest rates at

brainly.com/question/25793394

#SPJ2

You might be interested in
An individual who wants to earn a living from a new business endeavor has decided to start his business as a not-for-profit orga
skad [1K]

Answer:An incorporated business that puts all of its profits back into the business is a corporation. They are used by those common people and it can help the others who need the money. This will secure that the funds of these corporation will be shared also into its members incase of emergency.

6 0
2 years ago
The process of asset transformation refers to the conversion of:_______
kondaur [170]

Answer: c. Risky assets into safer assets

Explanation:

The process of asset transformation refers to the conversion of risky assets into safer assets. Asset transformationa is simply a form of transformation in which financial institutions like banks use deposits in the generation of revenue through the pooling deposits in order to make loans. It has to do with transforming bank liabilities into bank assets.

6 0
3 years ago
A sole proprietor has ______ personal liability for all business debts and obligations.
andreev551 [17]

A sole proprietor has unlimited personal liability for all business debts and obligations.

<h3>Who is a sole proprietor?</h3>

A sole proprietor is the owner of a sole proprietorship. A sole proprietorship is a type of business that is owned by one person.

A sole proprietor and the business are regarded as a single person under the law. Thus, a sole proprietor has an unlimited liability. An unlimited liability means that in event of default, both the e property of the business and the sole proprietor can be seized.

To learn more about  sole proprietorship , please check: brainly.com/question/1428023

#SPJ1

4 0
1 year ago
Susanna strongly believes in the relationship between workplace communication and employee productivity, and she agrees with Ale
drek231 [11]

Answer:

The correct answer is number "2": allow them to continue for a reasonable amount of time.

Explanation:

According to Alex Pentland and Benjamin Waber’s "<em>Productivity through coffee breaks</em>", employees who relate to each other the most are more productive because as they have a certain knowledge of each one of them, they could make better work-related decisions.

In that case, as Susanna believes in Alex Pentland and Benjamin Waber’s research, she is likely to allow Steven and Amy to keep talking in Amy's cubicle for a reasonable time.

6 0
2 years ago
On May 16, Thorne Co. declares a $0.40 dividend to be paid on April 5. Thorne has 2,060,000 shares of common stock issued and ou
Ksju [112]

Answer:

b. Dividends and a credit to Dividends Payable for $824,000

Explanation:

Dividends payable = 2,060,000 shares * $0.40 per share = $824,000

Journal entry on February 16

Dividends                 $824,000

Dividends payable                     $824,000

4 0
2 years ago
Other questions:
  • Matthew owns a warehouse that is used in business while Pamela owns land. Matthew exchanges the warehouse for the land, which wi
    15·1 answer
  • New e-commerce businesses, including companies like eBay, focus on voluntary exchange. Which generalization BEST describes this
    12·2 answers
  • In the 1980s, Japanese competitors brought better-quality chips to the market at lower cost, threatening Intel Corporation's pos
    12·1 answer
  • Two economists from Ohio University estimated that the demand curve for kerosene in Indonesia was such that a 10 percent increas
    7·1 answer
  • A watch manufacturing company has priced its goods at a rate which is higher than what other companies offer. the watches made b
    8·2 answers
  • On March 1, 2019, Baltimore Corporation had 65,000 shares of common stock outstanding with a par value of $5 per share. On March
    15·1 answer
  • Diversification is good for shareholders. So why shouldn't managers acquire firms in different industries to diversify a company
    12·1 answer
  • Select the true statement about default risk. It is the risk that the bond's price will fall below its par value. Bondholders ha
    6·1 answer
  • Define nomal goods examples​
    9·1 answer
  • Last year, loana's revenues totaled $121,000. This year, she anticipates a 20% increase. However, her
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!