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torisob [31]
1 year ago
6

Meg invested $16,000 in a savings account. if the annual interest rate is 6%, how much will be in the account in 5 years for qua

rterly compounding? round your answer to two decimal places.
Business
1 answer:
Yakvenalex [24]1 year ago
6 0

Meg invested $16,000 in a savings account. if the annual interest rate is 6%. In 5 years for quarterly compounding is $ 21,549.68.

<h3>What is interest rate?</h3>
  • The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate (called the principal sum).
  • The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
  • The interest rate over a year is known as the annual interest rate.
  • Other interest rates are applicable over shorter time frames, such a day or a month, but they are typically annualized.
<h3>What is saving account?</h3>
  • An account in a retail bank is a savings account.
  • Common characteristics include having a finite number of withdrawals allowed, not having check or connected debit card facilities, having few transfer choices, and not being able to become overdrawn.
  • Savings account transactions were typically recorded in a passbook in the past, hence the term "passbook savings accounts," and bank statements were not typically supplied.
  • Nowadays, same transactions are typically recorded electronically and are available online.

Learn more about interest rate here:

brainly.com/question/13324776

#SPJ4

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Answer and Explanation:

Option B is the correct answer

B) acquiring a company already operating in the target industry, creating a new business from scratch, or forming a joint venture with one or more companies to enter the target industry.

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3 years ago
Data concerning Follick Corporation's single product appear below: Selling price per unit $ 270.00 Variable expense per unit $ 7
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Answer:

Break-even point (dollars)= $219,000

Explanation:

Giving the following information:

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Fixed expense per month $ 155,490

To calculate the break-even point in dollars, we need to use the following formula:

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Break-even point (dollars)= 155,490/ [(270 - 78.3)/270]

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8 0
3 years ago
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When a subdivision is carried out on a condominium, the physical space is not divided, rather the property time is divided into time share units. In this case, a person can purchase the right to use that condominium during 3 weeks each year.

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Answer:

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Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of
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