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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.

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In team assignments, make sure you speak first and act on your own.

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Jonas doesn't want to keep his savings in an account because he doesn't want to pay bank fees. Which of the following is an argu
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The correct answer is C. Money is safer in the bank.

Explanation:

The main point or position of Jonas is that savings should be kept in an account due to the costs associated with this. In this context, the only argument that refutes Jonas' position and it is directly related to the main point of Jonas is "Money is safer in the bank" because even if keeping savings in a bank requires to pay fees this guarantees the money will be safe, which does not occur if Jonas keeps his savings at home. Moreover, the safety factor makes the option of the bank better, which refutes Jonas position.

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3 years ago
Zanny Electronics Corporation uses a standard cost system for the production of its water ski radios. The direct labor standard
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The general increase in prices over time we pay for good and services is known as inflation. question 5 options: true false
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It is true that the general increase in prices over time we pay for goods and services is known as inflation.

<h3>What is inflation?</h3>

Inflation is the term used to describe an increase in the price of goods and services that households buy. It is determined by how quickly these prices fluctuate. Prices frequently rise with time, but they can also fall (a situation called deflation).

The main categories of inflation are as follows:

Demand-pull inflation: It explains how rising prices for products and services can result from increased demand. People will typically pay more for something if there is a shortage of it.

Cost-push inflation:  When demand-pull inflation is active, it frequently starts up. Businesses must raise their pricing as a result of rising raw material costs, regardless of market demand.

Built-in inflation: Employees may start requesting pay increases from their employers as demand-pull inflation and cost-push inflation take place. Employers risk experiencing a labor scarcity if they don't keep their pay competitive.

Built-in inflation occurs when a company increases employee wages or salaries while also trying to maintain profit margins by boosting prices.

To know more about inflation, visit:

brainly.com/question/28190771

#SPJ4

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