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
HACTEHA [7]
3 years ago
7

Felipe deposited 4000 into an account with 2.2% interest, compounded quarterly. Assuming that no withdrawals are made, how much

will he have in the account after 3years? Do not round any intermediate computations, and round your answer to the nearest cent.
Business
1 answer:
mixas84 [53]3 years ago
6 0

Answer:

Final Value= $4,272.13

Explanation:

Giving the following information:

Felipe deposited 4000 into an account with 2.2% interest, compounded quarterly.

First, we need to calculate the quarterly interest rate:

Interest rate= 0.022/4= 0.0055

Now, we can calculate the final value:

FV= PV*(1+i)^n

FV= 4,000*(1.0055^12)= $4,272.13

You might be interested in
One reason there is political opposition to international trade is that: the potential gains from specialization and trade are s
Juliette [100K]
The answer to the question above is "not everyone benefits from trade" based on the situation shown in the question above. There will be a group of individual who oppose the international trade if that agreement does not give a mutual benefit to the individual. The international trade could lead to a decreasing in jobs for a specific industry.
7 0
3 years ago
Why is the expert testimony of a forensic scientist so convincing?
VLD [36.1K]
A forensic Scientist has credentials!
3 0
4 years ago
Selling Something People Could Get for FREE". Is it possible? Comment with example.
expeople1 [14]

Answer:

yes its possible. You could sell dirt

3 0
3 years ago
Cannon Company invested $8,000,000 in a new product line. The life cycle of the product is projected to be 8 years with the foll
ohaa [14]

Answer:

0.1

Explanation:

The Average Rate of Return (ARR) is the average net income an asset/investment is expected to generate over the course of its lifetime.

The Formula for ARR is Average Annual Net Income ÷ Initial Investment. If the question says to convert to percentage then the computed figure is multiplied by 100.

Step 1: Compute Average Annual Net Income

Add the streams from the 1st to the 8th year and divide by 8

$200000+$200000+$300000+$700000+$800000+$1100000+$2000000+$1100000=$6,400,000

$6,400,000÷8=$800,000

Step 2: Compute the ARR

Average Annual Net Income÷ Initial Investment

$800,000÷$8,000,000= 0.1

Note: The Figure should be multiplied by 100 to get the percentage figure if requested.

3 0
4 years ago
PROBLEM 12-15 In Mississippi, a customer pays $52.41 for a product (including MS state sales tax). In Alabama, a customer pays $
alekssr [168]

Answer:

Please see attachment

Explanation:

Please see attachment

7 0
3 years ago
Other questions:
  • The regression analysis at the bottom relates average annual per capita beef consumption (in pounds) and the independent variabl
    9·1 answer
  • An individual's definition of self changes with age because
    12·2 answers
  • In the context of the new-product development process, which of the following is true of a new-product strategy?
    5·1 answer
  • How does money make the exchange process easier
    6·1 answer
  • Supply affects prices
    8·1 answer
  • Derst Inc. sells a particular textbook for $27. Variable expenses are $20 per book. At the current volume of 43,000 books sold p
    9·1 answer
  • Jessie purchased land as an investment on January 12, 2015 for $80,000. On January 31, 2020, Jessie sold the land for $33,000 ca
    11·1 answer
  • The capital budgeting committee of the Caldwell Pipe Corporation is evaluating the possibility of replacing its old pipe-bending
    14·1 answer
  • Which condition would help to produce a testlike ​
    8·1 answer
  • Jermaine and Denise are the owners of a small company. They are moving to a new office space and need to decide on a layout that
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!