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stepladder [879]
3 years ago
6

"florence deposits $4,000 at the end of each year in an account earning 2.35% interest, compounded annually. what is the future

value of this annuity after 5 years of investing?"
Business
1 answer:
Lelu [443]3 years ago
3 0

Answer:

$20,962.35

Step-by-step explanation:

To solve for the amount of money the account of Florence will have, we use the formula:

FV=P[\dfrac{(1+r)^{n}-1}{r}]

Our available variables are:

P = 4000

n = 5

r = 2.35% or 0.0235

Now let's plug them into the formula.

FV=4000[\dfrac{(1+0.0235)^{5}-1}{0.0235}]

FV=4000[\dfrac{(1.0235)^{5}-1}{0.0235}]

FV=4000[5.2405876943550625]

FV=20962.35

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Security X has an expected rate of return of 13% and a beta of 1.15. The risk-free rate is 5%, and the market expected rate of r
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3 years ago
As the accountant for Marston Retail Stores, you must calculate the current ratio for the firm's last accounting period. The fir
I am Lyosha [343]

Answer:

1.5

Explanation:

Current ratio = current asset/current liabilities

This ratio is used to determine how quickly the current assets can be used to settle the current liabilities as they fall due.

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3 years ago
Leona bought two different brands of wine from vineyards in Australia. When asked for her opinion about the wines, she said that
Diano4ka-milaya [45]

Answer:

C. <u>Post purchase</u><u> </u><u>behavior</u>

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5 stages have been stated under Consumer buying decision, namely,

  1. Need recognition : the foremost stage wherein a need or desire arises.
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8 0
3 years ago
A good is excludable if: a) Those who are unwilling or unable to pay for the good do not obtain its benefits. b) It is not possi
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Answer:

The correct answer is letter "A": Those who are unwilling or unable to pay for the good do not obtain its benefits.

Explanation:

The excludability feature of goods does not allow individuals to have access to them without having paid for them. Thus, non-excludable goods are those that no one cannot prevent its use. <em>Private goods</em> (clothing, vehicles, houses) are excludable but they are also considered rival goods since when one person uses it another individual cannot consume the goods.

4 0
3 years ago
Read 2 more answers
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