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FrozenT [24]
2 years ago
7

If Randy invests $15,000 at a 9% interest

Business
1 answer:
WITCHER [35]2 years ago
8 0

It will take 8.04 years for the initial investment of $15000 to become $30,000

What is the future value of an investment?

The future value of $15,000 invested now earning a rate of return of 9% per year is $30,000, it the future equivalent of an amount invested now when the invested amount has earned interest over a specific period of time.

The below future value formula of single cash flow can be used to determine the number of years it takes for the initial investment to double.

FV=PV*(1+r)^N

FV=future value=$30,000

PV=initial investment=$15,000

r=rate of return=9%

N=number of years it takes for the initial investment to double=unknown(assume it is X)

$30,000=$15000*(1+9%)^N

$30000/$15000=(1+9%)^N

2=1.09^N

take log  of both sides

ln(2)=N*ln(1.09)

N=ln(2)/ln(1.09)

N=8.04 years

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

#SPJ1

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Answer:

Cost of goods sold = $576,900

Explanation:

The budgeted cost of goods sold will be the sales volume in 2020 multiplied by cost per unit .

Sales volume in year 2020= (100-10)% ×  sales figure for 2019

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Cost of goods sold per unit =  cost of goods sold in 2019/Sales units in 2019

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Cost of goods sold = $576,900

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Suppose output is $35 billion, government purchases are $10 billion, desired consumption is $15 billion, and desired investment
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Answer:

Net foreign lending would be equal to <u>$4 billion</u>.

Explanation:

This can be computed using the formula for computing the total output of an open economy as follows:

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Where;

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$35 - $15 - $10 - $6 = NX

NX = $4 billion

Therefore, net foreign lending would be equal to <u>$4 billion</u>.

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