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
navik [9.2K]
3 years ago
7

Andrew and Emma Garfield invested $7,900 in a savings account paying 4% annual interest when their daughter, Angela, was born. T

hey also deposited $1,200 on each of her birthdays until she was 17 (including her 17th birthday).
How much was in the savings account on her 18th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.)
Business
2 answers:
il63 [147K]3 years ago
5 0

Answer:

$44,440.96

Explanation:

We must find the future value of the initial $7,900 deposit and the annuity (17 deposits of $1,200 each)

  • future value of the initial deposit = present value x (1 + interest rate)ⁿ = $7,900 x 1.04¹⁸ = $16,003.95
  • future value of the annuity = Payment x ([1 + interest rate]ⁿ - 1) / interest rate = $1,200 x (1.04¹⁷ - 1) / 0.04 = $28,437.01

total amount on Angela's savings account = $16,003.95 + $28,437.01 = $44,440.96

galina1969 [7]3 years ago
4 0

Answer:

45,578.45

Explanation:

PV = $ -7,900 (The iniiial investment made by Andrew and Emma at year 0)

i/r = 4% (annual interest)

PMT = $ -1,200 (Annual deposit on Angela's birthday)

n = 17

FV (Value of the savings account at Angela's 17th birthday)

Using financial calculator, we have FV = $43,825

Value of the savings at Angela's 18th birthday = $43,825 x 1.04 = 45,578.45

You might be interested in
Which is the difference between static storage systems and dynamic storage systems
arlik [135]

Answer:

In a static storage area each product is assigned a specific area, whereas in dynamic storage, product locations and fluid and as such are subject to change.

3 0
3 years ago
Select all of the factors that affect the level of wages.
Ksivusya [100]

The factors that affect the level of wages are skills and abilities, the size of the labor pool, and the actions of labor unions. therefore, these options are correct statements.

<h3>How do you determine the level of wages?</h3>

Wages are decided through supply and demand, however, they may be stimulated through a huge form of factors, inclusive of the fee of living in a specific area, the presence of a union, and the modern-day minimal wage.

Pay prices additionally range through gender, race, training degree, and talent degree of the workforce.

Thus, the correct options are skills and abilities, the size of the labor pool, and the actions of labor unions.

Learn more about the level of wages here:

brainly.com/question/1142533

#SPJ1

8 0
2 years ago
During a sales meeting, you use the Google Trends tool to show insights and link back to what the client said about hiring someo
IRISSAK [1]

Answer:

The correct answer is "It explicates to the client that the solution is truly personalized  "

Explanation:

The client immediately will be satisfied and he will feel that he selected the right place; this is the propose of the seller and his company.

4 0
3 years ago
What role do governments play in the free enterprise system?
Afina-wow [57]

I would think the answer is C.

6 0
2 years ago
Read 2 more answers
A data safety monitoring board report for an investigator-initiated investigational drug study indicates a significantly higher
Vaselesa [24]

Answer:

This can be classified as an unanticipated problem.

Explanation:

During an investigational drug study the rate of risk of expected adverse events is indicated to be greater than what was initially expected. The current subjects need to be reconsented and the consent form needs to be updated to include this higher rate

Since the rate of an expected adverse event is greater than what was anticipated in the beginning and puts subjects and others at risk, this poses an unanticipated problem.

5 0
3 years ago
Other questions:
  • This type of pay is defined as added pay for employees that have reached the maximum of a pay grade and are unlikely to move int
    11·1 answer
  • Many managers describe performance appraisal as the responsibility that they like least. Why is this so? What could be done to i
    5·1 answer
  • Jamie earned a raise in pay when he finished the training for the Technician 2 position. He will receive another raise when he f
    10·1 answer
  • Which of the following is not a function of prices in a market system? Group of answer choices Prices send signals to buyers and
    12·1 answer
  • Atlas Inc. manufactures television sets. Last month, direct materials (electronic components, etc.) costing $550,000 were put in
    9·1 answer
  • Which of the following statements is​ correct? A. GDP includes nonmarket production but is not a measure of a​ nation's overall
    5·1 answer
  • A ________ consists of selecting a segment of the market as the company's target market and designing the proper "mix" of produc
    14·1 answer
  • Lusk Corporation produces and sells 15,800 units of Product X each month.
    6·1 answer
  • I need help please !!!!!
    6·1 answer
  • Before purchasing a chemical, one should ask if the chemical is commonly used. how does one know whether or not a chemical is co
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!