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
aleksley [76]
2 years ago
10

Arn.hawkeslearning.com/portal/test/testtaketesti 00:28:59 question 23 of 29 step 1 of 2 mary ann has recently inherited $5100. w

hich she wants to deposit into an ira account she has determined that her two best bets are an account that compounds emi-annually at an annual rate of 5.5% (account 1) and an account that compounds daily at'an annual rate of 3.4% (account 2). step 1 of 2: which account would pay mary ann more interest? answer 2 points keypad keyboard shortcuts account 1 account 2 prev d
Business
1 answer:
Irina18 [472]2 years ago
3 0

Mary Ann will prefer Account 1

The use of "Compounding interest rate," which involves adding interest to the deposit's principal amount, is the main topic of discussion here.

Mary Ann's balance from account 2 over 3.7 years is $6,261.37

The below calculation is to derive maturity and value when an annual rate of 5.5% is applied.

Principal = $5,100

Annual rate = 5.5% semi-annually for 1 years

A = P(1+r/m)^n*t where n=1, t=2

A = 5,400*(1 + 0.031/2)^1*2

A = 5,400*(1.0155)^2

A = 5,400*1.03124025

A = 5568.69735

A = $5,568.70.

In conclusion, the accrued value she will get years one year for this account is $5,568.70,

When the amount compounds continuously at a rate of 3.4% per year, the maturity value is determined by the calculation below.

Principal = $5,400

Annual rate = 3.4% continuously

A = P.e^rt where n=1

A = 5,400 * e^(0.04*1)

A = 5,400 * 1.04081077419

A = 5620.378180626

A = $5,620.39.

In conclusion, the accrued value she will greater one year for this account is $5,620.39.

Referring to how much would Mary Ann's balance be from Account 2 over 3.7 years. It is calculated as follows:

Annual rate = 3.4% continuously

A = P.e^rt where n=3.7

A = 5,400 * e^(0.04*3.7)

A = 5,400 * e^0.148

A = 5,400 * 1.15951289636

A = 6261.369640344

A = $6,261.37

Therefore, the accrued value she will get after 3.7 years for this account is $6,261.37

Learn more about the Annual rate here

brainly.com/question/14170671

#SPJ4

You might be interested in
Identify the possessive pronoun in the following sentence: "I love my new computer!"
Vanyuwa [196]

Answer:

A

Explanation:

5 0
2 years ago
The primary reason for the absence of much litigation under foreign competition law is:
Leona [35]

Answer:

III only.

Cultural attitudes toward antitrust law differ.

Explanation:

Competition law is an area of law that seeks to maintain a level playing field for all participants in an industry by protecting them against anti-competitive conduct by companies.

For example two major players in an industry may collaborate to raise price of goods.

However in foreign competition law we have to consider that cultural attitudes towards antitrust law differs. What is accepted in one country may not apply in another. So there is absence of litigation when considering competition in the foreign scene.

3 0
2 years ago
If you deposit $100.00 into a savings account EACH month, how much
andrezito [222]

Answer:

100×12=1200

1200×6%=72

1200+72=1272

5 0
1 year ago
Lois is considering buying a new bicycle for $200. it has a 20hance of breaking down in the next year. what is the expected valu
denis23 [38]

The expected value in terms of repair cost for this purchase is $40.

Repair cost manner fees and expenses are fairly essential or acceptable due to normal wear and tear, periodic replacement, vandalism, damage, or destruction of any part of the ability property, and shall now not encompass operating fees.

First, bring together the entire listing of substances wished, and report a high and occasional price estimate for each. as soon as it really is carried out, add each column of numbers to get the whole cost for each high and coffee. Then upload the two totals, after which divide with the aid of to get the common price.

Repair cost and substitute mean all non-routine, non-repetitive activities, repairs or substitutes of systems, equipment, or device required for continuity of operations, safety, and running overall performance this is vital to prevent or correct a failure of the Pelletier Facility and which aren't protected as a component.

Learn more about repair costs here brainly.com/question/22932657

#SPJ4

4 0
1 year ago
Concept of identifying customer needs: understanding and influencing customer behavior through ongoing communication strategies
Natasha2012 [34]

Answer:

Customer relationship management (CRM)

Explanation:

All of the described actions and goals are part of Customer relationship management (CRM). This term refers to the various different practices, strategies and technologies that an organization may use in order to efficiently manage and analyze all of their customers choices, behaviors, and overall data throughout their time as a customer of the company. All of this is done in order to be able to improve customer service relationships

7 0
2 years ago
Other questions:
  • You are analyzing an office building to determine if it make sense to build it. the building and site improvements cost $145 and
    11·1 answer
  • Which employment scenario would not affect the economy adversely?
    11·2 answers
  • The marginal revenue product of capital is _______.
    10·1 answer
  • Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because t
    8·1 answer
  • Use the following data to compute total manufacturing costs for the month: Sales commissions $ 10,800 Direct labor 39,600 Indire
    13·1 answer
  • Imprudential, Inc., has an unfunded pension liability of $800 million that must be paid in 24 years. To assess the value of the
    11·2 answers
  • When Motorola first entered the Mexican marketplace, the company wanted direct control of salespeople in major urban markets but
    12·1 answer
  • For Hair Salon<br><br> How much funding do you think you need to run your business for 1 year? Why?
    7·1 answer
  • Why does the government oversee the provision of public goods?
    5·1 answer
  • The demand for a product is unit elastic. At a price of $20, 10 units of a product are sold. If the price is increased to $40, t
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!