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
fomenos
3 years ago
11

Lisa Simpson, age 8 genius, deposits $100 today and plans to continue making additional deposits of $100 at the end of each quar

ter for the next 13 years into a special off shore account that pays a tax-free 6% nominal annual rate coumpounded quarterly.  At the end of 13 years after making 53 deposits, Lisa pays to use the money to go to Europe "to find herself".  How much will Lisa have for her future trip to Europe? Round your answer to the nearest dollar.
Business
1 answer:
alukav5142 [94]3 years ago
5 0

Answer: $8,009.3

Explanation:

Given that,

Deposits(P) = $100 today (Annuity amount)

Additional deposits = $100 end of each quarter for the next 13 years

nominal annual rate = 6% compounded annually

Quarterly\ rate(r) = \frac{0.06}{4}

                               = 0.015

No. of deposits (n) = 53

Payments are made at end of quarter. So future Value of annuity formula will become applicable.

Future value of annuity due = P\times\frac{(1+r)^{n}-1}{r}

                                                            = 100\times\frac{(1+0.015)^{53}-1}{0.015}

                                                            = 100 × 80.09

                                                            = $8,009.3

Therefore, she will have $8009.38 for her trip.

You might be interested in
Which of the following statements is true of Gap 3 in the GAP model?
Westkost [7]

Answer:

d. It recognizes that manufacturing and service delivery systems must execute quality specifications well.

Explanation:

GAP provides for better performance and accounting standards.

Whether manufacturing unit, or a unit of providing service, it establishes some standards which need to be complied with. Accordingly one of the standard requires the units to have quality specifications. This means that the manufacturing units along with units providing service shall not only consider for increasing their revenue, but also increase the quality provided by them.

5 0
3 years ago
Mathrans, a textile firm, wants to hire two costume designers for a new movie project. To precisely determine the future job per
irga5000 [103]

Answer:

<u>Validation</u>

Explanation:

The validation process occurs when an organization needs to know the skills and performances of some job seekers. Through a test with selected measures, such as construction measures, content and criteria, it is possible for the company to know and predict if a candidate is able to perform the tasks assigned to the position he is running.

7 0
3 years ago
When positive externalities are present in a market a. private benefits will be greater than social benefits. b. social benefits
Oxana [17]

Answer:

b. social benefits will be greater than private benefits

Explanation:

Positive externalities can be defined as those that produce positive effects for society in relation to the consumption of a good or service.

This is because the social benefit is the sum of the private benefit plus the sum of the external benefit.

An example of positive externality pertinent to the present is the fact that vaccinating people generates greater positive effects on society, because when vaccinating an individual there is less chance of having more people infected with some disease.

So it is correct to say that the social benefits will be greater than the private ones. Letter b.

5 0
3 years ago
O pré-diagnóstico é a primeira etapa para a implementação de um planejamento estratégico. É possível identificar nesta etapa se
sineoko [7]

Answer:

homework sucks, like, really

Explanation:

8 0
3 years ago
Payton, Inc.'s charter authorized 100,000 shares of stock with a par value of $1 per share. Payton issues 100 shares at a market
hoa [83]

Answer:

Common stock and $100

Explanation:

The journal entry is shown below:

Cash Dr $500   (100 shares × $5)

     To Common stock $100  (100 shares × $1)

     To Additional paid in capital in excess of par value - common stock  (100 shares × $4)

(Being the issuance of the common stock is recorded)

For recording this we debited the cash as it increased the assets and credited the common stock and additional paid in capital as it increased the stockholder equity    

6 0
3 years ago
Other questions:
  • A(n) ____ strategy requires little initial investment, is heavily regulated, and provides little opportunity to modify products
    6·1 answer
  • Wright Company's cash account shows a $31,100 debit balance and its bank statement shows $29,400 on deposit at the close of busi
    15·1 answer
  • A​ person's ________​ is/are the unique combination of​ emotional, thought, and behavioral patterns that affect how he or she re
    7·1 answer
  • In economics, what is the meaning of the phrase 'the tragedy of the commons?' Goods that are not rivalrous but are excludable ar
    9·1 answer
  • Based on the following information, calculate the variable overhead rate variance. Actual variable overhead cost $15,500 Actual
    7·1 answer
  • If a firm has a sales price per unit of $6.00, a variable cost per unit of $4.00, and a break-even point of 40,000 units, fixed
    11·1 answer
  • John is a boss who is very stern with his employees, and they follow every command he gives to them. John is someone who exempli
    8·1 answer
  • It is generally recognized that the spending habits of individuals changes over their lives. In general, young adults tend to sp
    13·1 answer
  • You have graduated from college but unfortunately have $39,000 in outstanding loans. The loans require payments of $3,435 per ye
    11·1 answer
  • Punitive damages are damages imposed on the wrongdoer by the court as punishment for an unintentional tort.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!