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e-lub [12.9K]
1 year ago
8

Suzie has $16,000 in her investment account today. She saves $500 a quarter and earns 8% interest compounded quarterly. How much

money will she have in her account three years from now?
Business
1 answer:
andrezito [222]1 year ago
5 0

Suzie has  $26,997.90  in her account three years from now in her investment.

An investment is an asset or object obtained with the intention of generating profits or appreciation. Appreciation refers to an increase within the fee of an asset over time. when an individual purchases an excellent as an funding, the rationale isn't always to eat the good however alternatively to use it inside the future to create wealth.

investment = $16000

FV = future value

PV = present value = 16,000

r = interest rate = 8% / 4 = 2% per quarter

n = number of quarters = 3 * 4 = 12

The future value of the single investment is:

FV=PV∗(1+r)n

FV=16,000∗(1+0.02)12

FV=$20,291.86

Annuity of $500 per quarter

Let

FVA be the future value of the annuity

PMT be the periodic payment

The future value of the annuity is:

FVA = PMT × (1+r)ⁿ - 1 / r

       = 500 × (1+ 0.02)¹² - 1 /0.02

      = $6,706.04

After 3 years, her account balance will be the sum of these two future values:

Balance = FV + FVA = 20,291.86 + 6,706.04 = 26,997.90

Suzie will have $26,997.90 in her account.

Learn more about investment here:-brainly.com/question/25300925

#SPJ4

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originally literacy rate is based on the number of LITERATE persons in a give age group.

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When a company sells a product for a price that is less than the cost of producing the product, it is engaging in:.
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If a company sells a product at a price that is less than the cost of producing the product, then it is engaged in dumping.

<h3>What do you mean by a Product?</h3>

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7 0
2 years ago
4. Both the concentration and Herfindahl indices computed by the U.S. Bureau of Census tends to overstate the actual level. In a
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Answer:

The use of data aggregation leads to overstatement of the  concentration and Herfindahl indices

while the use of National/state data leads to understatement of the degree of concentration in local markets.

Explanation:

The ratio of concentration and Herfindahl indices computed are mainly made up of foreign players while  the contributions of small local unorganized players are not considered, which leads to the increase in the value of  indices and ratios been used, ( i.e. The use of data aggregation ) .  hence the overstatement of the actual level.

The understatement of the degree of concentration in local markets happens because of the use of national and state data while computing the concentration in the local markets like gasoline and this is mainly caused by the presence of fewer industries in the market. The state and national data does not reflect the true concentration in the local market hence the degree of concentration is understated at the local level.

5 0
3 years ago
Alaska Mining Co. acquired mineral rights for $67,500,000. The mineral deposit is estimated at 30,000,000 tons. During the curre
Vladimir79 [104]

Answer:

a. Depletion rate  = $2.25

b. Account                                                              Debit($)                Credit($)

Depletion expense                                              9,000,000

Accumulated depletion expense                                                  9,000,000

<u>Being depletion expense for the year.</u>

Explanation:

Depletion expense refers to the loss in value of a long term asset due to reduction in producing capacity  of the asset. The depletion is recognized as an expense in the income statement of the relevant year.

To determine depletion expense, depletion rate is needed which can be derived by dividing the total value of the asset net of its residual value (if any) by the total producing capacity of the asset.After this, the depletion rate is used to multiply the production units of the current year.

Here is the formula for depletion rate:

a. Depletion rate = Total value of the asset - residual value

Total production capacity

Here is the formula for depletion expense

b. Depletion expense = Depletion rate x current year production units  

a. Depletion rate = $67,500,000

30,000,000

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b. Depletion expense = $2.25 x 4,000,000

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Estimated Tax Payments
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Answer:

The right answer is 541

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