First, you have to calculate the amount of tuition when the student reaches age 18. Do this by multiplying $11,000 by 1.07 each year from age 12 until it reaches age 18. Thus, 7 times.
At age 18: 16,508
At age 19: 17,664
At age 20: 18,900
At age 21: 20,223
Then, we use this formula:
A = F { i/{[(1+i)^n] - 1}}
where A is the monthly deposit each year, F is the half amount of the tuition each year illustrated in the first part of this solution, n is the number of years lapsed.
At age 18:
A = (16508/2) { 0.04/{[(1+0.04)^6] - 1}} = $1,244.389 deposit for the 1st year
Ate age 19
A = (17664/2) { 0.04/{[(1+0.04)^7] = $1,118 deposit for the 2nd year
At age 20:
A = (18900/2) { 0.04/{[(1+0.04)^8] = $1,025 deposit for the 3rd year
At age 21:
A = (18900/2) { 0.04/{[(1+0.04)^8] = $955 deposit for the 4th year
Answer:
which one of two machines should be purchased when the machines are mutually exclusive, have differing lives, and will be replaced at the end of their lives.
Explanation:
The Equivalent annual cost would be used for different reasons such as capital budgeting but the important purpose is that it is usedfor analyzing two or more expected projects having different time period , in which the costs are the most relevant variable.
So according to the given situation, the above represent the answer and the same would be considered
Answer:
Assume that currently there is no trade between them. Each country has 100 units of labor. Latvia produces fish, at a cost of 1 unit of labor per fish, and grain.
Explanation:
Answer:
A). She will appear more responsible to future employers.
<u>Multiple choices</u>
A). She will appear more responsible to future employers.
B). She will be able to do the job better.
c). She will be able to complete her job search application better.
D). She will get an increase in the interest rate on her student loans.
Explanation:
A positive credit score is a result of responsible use of income against the debts incurred. It shows an individual is good at managing their personal finances. A negative credit score paints a bad picture of an individual. It communicates a lack of self-discipline in managing debts.
A positive credit score will portray Naomi as responsible in using her finances. Her employers will view her as good at managing money.
