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Sunny_sXe [5.5K]
3 years ago
11

Your sister just deposited $13,000 into an investment account. She believes that she will earn an annual return of 10.3 percent

for the next 10 years. You believe that you will only be able to earn an annual return of 9.4 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 10 years
Business
1 answer:
omeli [17]3 years ago
6 0

Answer:

146,640

13,000×9.4%=1,222

1,222×120=146,640

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Answer:

FV= $772

Explanation:

Giving the following information:

Initial investment (PV)= $850

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Number of periods (n)= 5 years

<u>To calculate the future value (FV), we need to use the following formula:</u>

FV= PV*(1+i)^n

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What is a sercured loan
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Answer:

Secured loan is as below

Explanation:

A secured loan is money that you borrow by offering an asset as collateral. The lender will hold on the asset until the full loan amount is paid back. A secured loan is a good option when borrowing a large amount of money.  It attracts low-interest rates.

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6 0
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The following information pertains to Sooner Company's cash balance and bank reconciliation as of August 31: Company balance bef
MAXImum [283]

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A Is the correct answer I think CFO stands for Chief Financial Officer. 
4 0
3 years ago
Read 2 more answers
Suppose there is a simple one good economy that only produces spinning rims. In 2015, the economy was able to produce 1 million
Alex_Xolod [135]

Answer: 0

Explanation:

Firstly, we will calculate the nominal value in 2015 which will be:

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4 0
3 years ago
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