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
Veseljchak [2.6K]
3 years ago
5

A newborn child receives a ​$7 comma 000 gift toward a college education from her grandparents. How much will the ​$7 comma 000

be worth in 17 years if it is invested at 6.2​% compounded​ quarterly?
Business
1 answer:
Scrat [10]3 years ago
6 0

Answer:

$7,000 gift will be worth $19,922 after 17 years ( or 68 quarters) given the discount rate is 6.2% compounded quarterly.

Explanation:

The worth of $7,000 nowadays after 17 years is equal to its future value compounded for the time of 17 years or 68 quarters.

As the discounted rate is 6.2% compounded quarterly, we have:

Compounding period = 17 x 4 = 68; Interest rate = 6.2%/4 = 1.55%.

Apply the formula for future value to determine the value of $7,000 in 17 years as: 7,000 x (1+1.55%) ^68 = $19,922.

Thus, the answer is $19,922.

You might be interested in
The chefs at Lorifusion, a continental restaurant, are given the freedom to try out new ways of presenting their dishes. This he
REY [17]

Answer:

The answer is: A) A creative work environment

Explanation:

Creative working environments usually enable employees to spend time creating different products, being unpredictable, testing different ideas, making mistakes, and innovating.

It's not easy for management to create such working environments, specially when innovation is not linear, is unpredictable and may be inefficient sometimes. But at the long run, innovative companies will tend to dominate their markets.

7 0
3 years ago
On July 1, an investor holds 50,000 shares of a certain stock. The market price is $30 per share. The investor is interested in
Yakvenalex [24]

Answer:

The strategy the investor should follow is to short 26 contracts of September Mini S&P 500 futures.

Explanation:

Provided information;

Amount of shares of a certain stock =50,000

The market value per share = $30

Portfolio value= P = 50,000 × 30 = $1,500,000

Beta of stock  β  = 1.3

current Index futures price = 1,500

Multiplier = $50

Futures Value A = 1,500 × 50 = $75,000

The formula used in calculating the number of contracts =

Number of contracts N =  (β  ×  P) ÷ Future values

N = (1.3 × $1500000) ÷ $75000

N = $1950000 ÷ $75000

Number of contracts N = 26

The strategy the investor should follow is to short 26 contracts of September Mini S&P 500 futures.

5 0
3 years ago
What is the name of the king in sleeping beauty?
zmey [24]
 The kings name is King Stefan
5 0
3 years ago
1. The Barberton Municipal Division of Road Maintenance is charged with road repair in the city of Barberton and the surrounding
77julia77 [94]
I don’t really know. But I think it’s b
7 0
3 years ago
Difference between authority and responsibility​
Orlov [11]

Answer:

An authority is a power to give orders and ask your subordinates to perform certain duties. Authority can be given to a person by government’s executives, owner of an organization, or by the representatives of GOD.

An authority is a legitimate power to influence people to compel them to perform the task given to them. For example, a mob has the power to punish a criminal, but they don’t have legitimate authority to punish the criminal.

The authority lies in the hands of the law. Similarly, in an organization, the authority lies in the hands of a manager to get organizational tasks accomplished by his subordinates.

However, the authority of the manager is limited to a particular department of the organization. He has no authority on his employees outside the organization.

Authority is the consequence of the position of an individual in an organization. A person can only be at the superior position of the organization if he has authority; a person with no authority can never be on the top position of an organization.

Therefore, the degree of authority is highest at the top level, and its degree keeps on decreasing the levels of the organization. That means only a person at the top level can give orders to the people at a low level and can compel them to perform tasks given to them, and a person at lower level can’t give orders to the people at the top or his peers.

Authority can be of two types such as official authority (where authority is given to a person by the organization he works for), and other is a personal authority (where authority is given to a person because of his ability to influence people in the organization.

What is the Responsibility?

Being responsible

Responsibility is a moral duty or an obligation of an employee, whether he is a manager or subordinate to fulfill the task given to them. The responsibility starts as soon as the job is assigned to the employee and finish with the completion of the task.

The person is responsible for the consequence of his performance in the task. The responsibility comes with authority.

A manager is responsible for the accomplishment of the task. The responsibility moves upwards in the organization from a lower level of employees to the upper level of management.

The responsibility is originated from the superior-subordinate relationship in an organization. Because of this relationship, the manager can do a task from his subordinates with responsibility.

Difference between authority and responsibility

Difference between authority and responsibility

AUTHORITY RESPONSIBILITY

An authority is a power or right that a person gets because of his designation, role, or job. A responsibility is an obligation that an employee has to fulfill the work bestowed on him

An authority is the outcome of a formal position in an organization. A responsibility is the outcome of a superior-subordinate relationship.

An authority is a legal right given to a person. A responsibility is consequence of authority.

It is a delegation of authority. It is an assumption of responsibility.

The flow of authority is from the upper level to lower level. The flow of authority is from lower level to upper level.

Authority requires the ability to give orders. Responsibility requires the ability to follow orders.

The authority lasts for a long period of time. The responsibility ends as soon as the work bestowed on the employee is complete.

The objective of the authority is to make decisions and implement them effectively. The objective of responsibility is to perform duties effectively assigned by the superiors.

5 0
3 years ago
Other questions:
  • Washington has an extensive collection of baseball cards. He wants to know how much his mint condition, rookie-year Hank Aaron c
    12·1 answer
  • Scenario 18-3 sam has two jobs, one for the winter and one for the summer. in the winter, he works as a lift attendant at a ski
    13·1 answer
  • Narciso Corporation is preparing a bid for a special order that would require 880 liters of material R19S. The company already h
    15·1 answer
  • The following information is provided for a company. Accounts payable $ 15,000 Buildings 80,000 Cash 10,500 Accounts receivable
    6·1 answer
  • Healthy Snacks has a target capital structure of 60 percent common stock, 3 percent preferred stock, and 37 percent debt. Its co
    6·1 answer
  • Over the next three years, Distant Groves wl pay annual dividends of $.65, S.70, and $.75 a share, respectively. After that, div
    7·1 answer
  • Suppose you purchase a $5,000 bond that pays 7% interest annually and matures in five years. If the inflation rate during the ne
    7·1 answer
  • What is the proper balance between dealing with negative externalities through government regulation or through torts?
    12·1 answer
  • The degree to which someone's personality and values align with the organizational culture of a firm is called
    6·1 answer
  • Imagine that instead of hiring each assitant right away in the hiring assistant problem. we wait until the end to hire the best
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!