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Evgesh-ka [11]
3 years ago
13

Your birthday is next week and instead of other presents, your parents promised to give you $2,200 in cash. Since you have a par

t-time job and, thus, don’t need the cash immediately, you decide to invest the money in a bank CD that pays 9.80 percent, compounded quarterly, for the next two years. How much money can you expect to earn in this period of time? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
Business
1 answer:
vfiekz [6]3 years ago
3 0

Answer:

Interest revenue from the CD 470.04

Explanation:

we will calcualte the future value of the CD and from there calculate the interest:

Principal \: (1+ r)^{time} = Amount

Principal 2,200.00

time 8.00 (2 years x 4 quarter per year)

rate 0.02450 (9.8% divided by 4 quarter per year)

This divisions and multiplication are done to make time and rate be express i nthe same metric.

2200 \: (1+ 0.0245)^{8} = Amount

Amount 2,670.04

Now, we calculate interest revenue:

Amount - Principal

2,670.04 - 2,200 = 470.04

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Answer:

52.7%

Explanation:

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Which rounded to the nearest tenth percent is 52.7%

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3 years ago
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ollegr [7]

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<h3>What is Career readiness?</h3>

Career readiness can be defined as the way in which a person acquire or possess the necessary skills, knowledge that an employer desires an employee to posses.

Career readiness is essential for someone that want to build their career or the person that want to reach the highest peak of their career as this enable them to prepare ahead.

Therefore Career readiness represents the extent to which you possess the <u>knowledge, skills, and attributes</u>  desired by employers.

Learn more about Career readiness here:brainly.com/question/27841409

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2 years ago
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Answer:

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Explanation:

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3 0
2 years ago
Sarah’s marketing team was beginning the process of developing a new product to expand their current product line and/or mix. At
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5 0
2 years ago
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Answer:

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The computation of the expected return on the portfolio is shown below:

The expected return is

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The $4,300 comes from

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hence, the expected return on the portfolio is 14.77%

The same is considered

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