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
rewona [7]
1 year ago
10

Damian invests $5,000 today in an account earning 6% per year. How much is the investment worth in 4 years?

Business
1 answer:
sp2606 [1]1 year ago
7 0

Based on the fact that Damien invested $5,000 and left it in an account that earns 6% for 4 years, the investment worth would be b. $6,312.38.

<h3>What would be the value of the investment?</h3>

The value of the investment in 4 years is considered to be its future value when looking at it from the present.

Using the rate being earned, the investment amount, and the number of years the investment will be invested, the future value formula is:

Future value = Investment x ( 1 + rate)^ number of years

Solving gives:

= 5,000 x ( 1 + 0.06) ⁴

= 5,000 x 1.06⁴

= 5,000 x 1.26247696

= $6,312.3848

= $6,312.38

In conclusion, the value of Damien's investment after a period of four years at 6% per year comes to $6,312.38.

Find out more on future value at brainly.com/question/24703884

#SPJ1

You might be interested in
Sonja is writing an essay about becoming a preschool teacher. Complete it by correctly filling in the missing information.
stepladder [879]

Answer:

Out of all the career choices in the <em>Human Services</em> career cluster;

I’ll need to complete high school and get an <em>associate's degree (or bachelor's)</em>

Explanation:

The occupation of a preschool teacher is in the <em>Human Services career cluster</em>. This cluster includes children education, social and community occupations and counseling.

In order to be eligible for the preschool teacher job, Sonja needs to obtain an <em>associate's or bachelor degree</em> from an academic institution that prepares candidates well enough to become licensed preschool teachers.

7 0
3 years ago
Read 2 more answers
You are thinking of purchasing a home. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on
Anna35 [415]

Answer:

Annual payment= $3,250.77

Explanation:

Giving the following information:

You are thinking of purchasing a home. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 6% per year.

FV= 300,000 - 43,000= $257,000

i=6%

n= 30

Annual payment= ?

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (257,000*0.06)/{[1.06^30]-1}= $3,250.77

3 0
4 years ago
The Making Ethical Decisions box "Good Finance or Bad Medicine" has an important message for managers who make financial decisio
Nataly [62]

Answer:

A. Managers must balance good economic decisions with socially forward thinking.

Explanation:

Good Finance or bad medicine refers that if you are aware of finance or you have studied the finance subject so you are capable of making the financial decisions which give you the better return at less risk in near future and if you are not aware of finance than it would lead to the worst situation

Therefore the first option depicts the given message i.e making a better balance in the economic decisions with the help of forward-thinking i.e. to be social

8 0
3 years ago
The Biltmore Trust is a simple trust. Crawford is its sole beneficiary. In thecurrent year, the trust earns $3,200 in taxable in
Oduvanchick [21]

Answer:

A. Trust agreement allocates fees and capital gains to corpus.

Particulars                                  Amount

Taxable interest                          $3,200

Tax-exempt interest                   $8,000

Trust accounting income          $11,200

B. When fees are allocated to income.

Particulars                                  Amount

Taxable interest                          $3,200

Tax-exempt interest                   $8,000

Less: Fees                                   ($-1,800)

Trust accounting income          $9,400

4 0
3 years ago
Backyard BBQ is a chain of casual restaurants that promises affordable barbecue using top-quality local ingredients. However, th
oee [108]

Answer:

A) Eliminating brick and mortar locations and offering delivery from central kitchens

Explanation:

Usually the highest overhead cost of any restaurant is its actual brick and mortar location. The place itself requires the highest investment and absorbs most of the costs.

By eliminating the actual restaurants, the company will be able to cut most of its overhead costs and basically the largest portion of total costs. By reducing most of their costs, Backyard will be able to sell top-quality barbecue at a much lower cost and gain a competitive advantage.

3 0
3 years ago
Other questions:
  • Determine the cost of goods sold expense assuming kramer had used the lifo method instead of the fifo method.
    13·1 answer
  • The current market interest rate for $1,000, 10-year bonds of large corporations in the food industry is 6.3 percent. If a large
    5·1 answer
  • The natural rate of unemployment is the: Question 10 options: a) full-employment unemployment rate. b) unemployment rate experie
    10·1 answer
  • Health food corporation's bonds have 7 years remaining to maturity. the bonds have a face value of $1,000 and a yield to maturit
    6·1 answer
  • John invests a total of 10,000. He purchases an annuity with payments of 1,000 at the beginning of each year for 10 years at an
    8·1 answer
  • An employee’s ability to perform his or her job effectively is referred to as
    15·1 answer
  • Name any TWO markets within the four-sector circular flow model​
    13·2 answers
  • Marion Cosmetics decides to launch a cream with a claim that it makes skin "10 times smoother and reduces wrinkles by 90%. The c
    6·1 answer
  • Which of the following is NOT a repayment plan option? What is the answer
    13·1 answer
  • Brendon Inc. required a permit to open its business in a foreign country. Although it had met all the requirements for the permi
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!