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Ivahew [28]
3 years ago
13

Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim

deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Jim Moore's account is (use the tables in the handbook):
Business
1 answer:
hjlf3 years ago
5 0

Answer:$119,735.6

Explanation:

To calculate the total in the account,we use the compound interest formula

A= P ( 1+ ( R/2)/100)∧2n

P = $ 12,000 n = 4 R = 12%

A = 12,000 (1+(12/2/100)∧2*4

A = 12,000 ( 1+ ( 6)/100)∧2*4

A = 12,000 ( 1+0.06)∧8

A= 12,000 ( 1.06)∧8

A = 12,000 ( 1.5938)

A= 12,000* 1.5938

A= $ 19,125.6

Another deposit into the account

A = P ( 1+(R/2)/100)∧2n

A= 50,000 (1+12/2/100)∧2*6

A= 50,000 (1+6/100∧12

A = 50,000 ( 1+0.06)∧12

A = 50,000 (1.06)∧12

A= 50,000 ( 2.0122)

A = 50,000* 2.0122

A = 100,610

Therefore, the total in the account

$19,125.6 + $100,610

= $119,735.6

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Andru [333]

Answer:

$135000

Explanation:

Given: Outstanding cumulative preferred stock of 10000 shares of 8% at $100

            Dividend paid= $375000.

Now, calculating preferred stock.

Preferred stock= (10000 shares\times $100\times 8\%)= \$ 80000

∴ Preferred stock= $80000

Cumulative dividend paid to shareholder= (80000\times 2 + 80000) = \$ 240000.

∴ Cumulative dividend paid to shareholder= $240000

Next, computing the amount of dividends will common stockholder receive.

Total dividend paid= $375000.  

Dividend received by common stockholder= (\textrm {Total dividend paid - cumulative dividend paid})

⇒ Dividend received by common stockholder= (375000-240000)= \$ 135000

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7 0
3 years ago
Outline 2 reasons for completing assigned tasks daily​
Lemur [1.5K]

In summary, it is important to complete your tasks because it helps you feel better, helps you identify what you should be working on and together that means you complete more tasks.

6 0
2 years ago
AB Builders, Inc., has 16-year bonds outstanding with a par value of $2,000 and a quoted price of 99.727. The bonds pay interest
galben [10]

Answer:

6.54%

Explanation:

Face Value = $2,000

Current Price = 2000 x 99.727% =  1994.54

YTM = 6.56%

We can find the coupon rate by a simple formula

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We need to find interest first in order to find coupon rate

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6.56% x 1994.54 = Interest

130.84 = Interest

Coupon Rate = (130.84 / 2000) x 100

Coupon Rate = 6.54%

6 0
3 years ago
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torisob [31]

Answer:

A

Explanation:

The country with a comparative advantage in the production of a good should export the good

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

England

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Comparative advantage in the production of sweater = 50/1 = 50

Scotland

Comparative advantage in the production of scones = 2/40 =  0.05

Comparative advantage in the production of sweater = 40/2 = 20

England has a comparative advantage in the production of scones and should export scones

Scotland  has a comparative advantage in the production of sweaters and should export sweaters

7 0
2 years ago
Business provided travel services worth R11800 to customers who settled the amount in cash
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