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LekaFEV [45]
3 years ago
8

Nan and Neal are twins. Nan invests $5,000 at 7 percent at age 25. Neal Invests $5,000 at 7 percent at age 30. Both investments

compound Interest annually. Both twins retire at age 60 and nelther adds nor withdraws funds prior to retirement. Which statement is correct? a) Nan will have less money when she reires than Neal. b) Neal will earn more Interest on Interest than Nan. c) Neal will earn more compound Interest than Nan. d) If both Nan and Neal walt to age 70 to retire they will have equal amounts of savings e) Nan will have more money than Neal at any age.
Business
1 answer:
FromTheMoon [43]3 years ago
4 0

Answer:

e) Nan will have more money than Neal at any age.

Explanation:

In compound interest, the interest earned in the year is added to the principal amount at the beginning of the next year. Earned interest becomes part of the principal which makes it earn interest. Adding interest to the principal to earn more interest is known as compounding.

The longer the investment period is, the more time interest will be compounded, and the more the investment will grow.  Nan made her investment at age 25. By the time she retires, her investment period will be 35 years.  Neil started her investment at age 30. At any given time after they are both age 30, Nan's investment will have earned compounded interest five more times than Neil. Therefore, Nan will have more money at any given time.  

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Answer:

B. Joint Stock Company

Explanation:

A few information provided in the question give good clues to the kind of business organisation being run. First, it is a business held in the names of its members, secondly, they are shareholders and thirdly, they hold personal liabilities in the business. This are features of a Joint Stock Company

A Joint Stock company is a business organisation is a vouluntary association of persons, where the capital is divided into transferable shares and these are the basis and condition of membership of the business organisation. The purpose of this organisation is primarily profit making.

A key feature of a Joint Stock Company is also featured in the question and this is the personal liability or liability limited to the member's share or ownership in the business organisation

Although this can be confused with the Joint Venture, a joint venture is simply an agreement betwen two organisations to come together to carry on business with pre-agreed rate of shareholding.

A Syndicate on the other hand is a group of companies, individuals or coroporations self-organised to carry out a specific business or pursue a shared interest.

Finally, a business trust is one in which there are investors and trustees. The investors receive certificates of beneficial interests which are transferable while the trustees adminster the business on behalf of the investors.

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3 years ago
What are the shops called that are in the middle of the mall?
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On May 30, 2018, Jane purchased a factory building to use for her business. In August 2019, Jane paid $300,000 for improvements
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$2,889

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Answer:

$8,181.81

Explanation:

Data provided in the question:

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