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
Anika [276]
1 year ago
11

Bob cratchit needs $16 per month for grave maintenance after he passes. if he earns 3.0 nnual interest, compounded monthly, how

much should he deposit before he dies? group of answer choices
Business
1 answer:
Whitepunk [10]1 year ago
4 0

Compounding is the process whereby interest is credited to an existing principal amount as well as to interest already paid. Compounding thus can be construed as interest on interest the effect of which is to magnify returns to interest over time, the so-called miracle of compounding.

The annual interest rate refers to the rate that is applied over a period of one year. Interest rates can be applied over different periods, such as monthly, quarterly, or bi-annually. However, in most cases, interest rates are annualized.

Monthly interest rate=2/12=0.1666%

So total deposit required=Amount/interest

=19/0.1666%

=19/0.00166

=11445

So option B is the correct statement

Learn more about Compounding here

brainly.com/question/24924853
#SPJ4

You might be interested in
A company purchased a commercial dishwasher by paying cash of $4,200. The dishwasher's fair value on the date of the purchase wa
kogti [31]

Answer:

$4,760

Explanation:

The value a company will record for the dishwasher will be the amount that was used to purchase the dishwasher plus the associated cost of transporting and installing the dishwasher.

The price of the dishwasher to be used is the actual amount it was bought and not the fair value.

Amount recorded for dishwasher= Price + Transportation + Installation fees

Amount recorded for dishwasher= 4,200 + 330 + 230

Amount recorded for dishwasher= $4,760

Note the fee for illegal parking is not considered because it is not a direct cost related to purchase of the dishwasher

5 0
2 years ago
Suppose you purchase five put contracts on Testaburger Co. The strike price is $45, and the premium is $3. If, at expiration, th
andriy [413]

Answer:

3000

1500

Explanation:

For each of the answers in this question I have added the formulas to solve them in the attachment below

1.

(45-39)*5*100

= 3000

2.

(45-39)-3 x5 x100

= $1500

7 0
2 years ago
At the beginning of the year, Monroe Company estimates annual overhead costs to be $2,400,000 and that 300,000 machine hours wil
Andrei [34K]

Answer:

The amount of overhead applied during the year is $2,400,000

Explanation:

In determining overheads amounts to be included in product costing, a company uses Budgeted overheads.

Budgeted overheads are used rather than actual overheads because of the delays that are made to obtain Actual data for Actual overhead amounts which will delay product costing.

Therefore Using machine hours as a base, the amount of overhead applied during the year is $2,400,000

8 0
3 years ago
f pressure is put on the government to maintain a balanced budget during a recession. In this scenario, government would need to
Kitty [74]

Answer:

Increase

fall

Explanation:

A recession occurs when the gross domestic product of a country for two consecutive quarters is negative.

Annually balanced budget is a budget where at the end of every year, revenue must equal expenditure.

If in a recession, a government is under pressure to maintain a balanced budget, the government would need to increase taxes. this is because income would be less than government expenditure as a result of the recession. In order to maintain a balanced budget, the government can either increases taxes are reduce expenditure.

When taxes are increased, disposable income falls and this causes aggregate demand to fall

4 0
2 years ago
When entering traffic, you should activate your turn signal after
yanalaym [24]
Check traffic<span> around </span>you<span> (rear, sides and front). Look for a gap of 4 to 5 seconds in</span>traffic<span>. </span>Activate your turn signal<span> (do this at least 100 feet before </span>you<span> make the lane change). Check </span>your<span> mirrors (rear-view then </span>your<span> side mirrors).</span>
6 0
2 years ago
Other questions:
  • Zoua needs 1.3 pounds of apples to make 1 pint of applesauce. She has 14.6 pounds of apples. How many more pounds of apples does
    7·2 answers
  • Rylan Corporation received an offer from an exporter for 25,000 units of product at $16 per unit. The acceptance of the offer wi
    13·1 answer
  • The balance sheet reports revenues and selling costs for a period of time.
    5·1 answer
  • Nonprofit agencies are frequently called voluntary service agencies because they use only volunteers to provide services.True /
    12·1 answer
  • American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed const
    7·1 answer
  • In its first month of operations, Giffin Company made three purchases of merchandise in the following sequence: (1) 300 units at
    13·1 answer
  • Many investment advisors argue that after stocks have declined in value for 2 consecutive years, people should invest heavily be
    12·1 answer
  • Mitchell Corporation bought equipment on January 1, 2017. The equipment cost $300,000 and had an expected salvage value of $50,0
    13·1 answer
  • 1 point
    5·1 answer
  • if a firm is operating at the point of tangency between an isoquant and an isocost line, its production is:
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!