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Anettt [7]
1 year ago
14

if $5,000 is invested at 3.2% annual interest compounded semiannually, how much will the investment be worth in 10 years?

Business
1 answer:
Helen [10]1 year ago
5 0

The amount of money would be $6,851.2 in the account after 10 years.

<h3>What is Compound interest?</h3>

Compound interest is defined as interest paid on the original principal and the interest earned on the interest of the principal.

A = P(1+r/100)ⁿ

Where:

A = the future value of the investment or loan

P = the principal investment or loan amount

r = the interest rate (decimal)

n = the number of compound periods

As per the question, data will be given as:

p = $5,000

r = 3.2%

t = 10 years

A = P(1+r/100)ⁿ

Substitute the values of p,r, and t in the formula,

A = 5,000 (1 + 3.2/100)¹⁰

A = 5,000 (1 + 0.032)¹⁰

A = 5,000 (1.032)¹⁰

A = 6,851.2052

Rounded to the nearest cent

A = 6,851.2

Therefore, the amount of money would be $6,851.2 in the account after 10 years.

To learn more about Compound interest click here:

brainly.com/question/25857212

#SPJ1

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ziro4ka [17]

Complete Question:

An important basic characteristic of common stocks that makes them a suitable type of investment for the separate account of variable annuities is:

Group of answer choices

A) the safety of the principal invested.

B) changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices.

C) the yield is always higher than mortgage yields.

D) the yield is always higher than bond yields.

Answer:

B) changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices.

Explanation:

An important basic characteristic of common stocks that makes them a suitable type of investment for the separate account of variable annuities is changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices.

Generally, common stocks are considered by financial experts or broker-dealers to be a suitable type of investment of variable annuities because the prices of common stocks in the market are not fixed and as such they are affected by economical changes such as inflation or recession.

5 0
3 years ago
What is the end product of the accounting process?
Goryan [66]
In the accounting cycle, the last step is to prepare a post-closing trial balance.
3 0
3 years ago
Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warra
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Answer:

Product warrant liability to be reported as on 31.12.2021* is $3.124

<em>*The procedures are attached in a microsof excel document. </em>

Explanation:

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Download xlsx
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When cisco systems inc. of san jose, california, and tata consultancy services of mumbai, india, entered into their __________,
ser-zykov [4K]
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<span>Example is when Cisco systems inc. of San Jose, California, and Tata consultancy services of Mumbai, India, entered into their strategic aliance.  They both continued to develop market-ready infrastructure and network solutions for customers, but they relied on each other to provide the training and skills that one or the other might have lacked.</span>
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3 years ago
Inventory records for Dunbar Incorporated revealed the following: DateTransactionNumber of UnitsUnit Cost Apr.1Beginning invento
Jet001 [13]

Answer:

$965

Explanation:

Calculation to determine what Ending inventory assuming weighted-average cost would be:

First step is calculate the Weighted-average cost

Weighted-average cost = [(480 x $2.48) + (440 x $2.75)] / (480+440)

Weighted-average cost =1,190.4+1210/920

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