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LekaFEV [45]
4 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]4 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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fomenos

Answer:

B. managers overuse the autocratic style

Explanation:

There has been extensive research into the time-driven model of leadership. The results include all of the following except managers overuse the autocratic style.

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3 years ago
How much money should be deposited today in an account that earns 3 %compounded semiannually so that it will accumulate to $ 13,
Elden [556K]

Answer:

PV= $11,889.05

Explanation:

Giving the following information:

Future Value (FV)= $13,000

Number fo periods (n)= 3*2= 6 semesters

Interest rate (i)= 0.03/2= 0.015

<u>To calculate the initial deposit, we need to use the following formula:</u>

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PV= $11,889.05

5 0
3 years ago
An investment earns 35% the first year, earns 40% the second year, and loses 38% the third year. The total compound return over
Vladimir79 [104]

Answer:

17.18%

Explanation:

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1.35 x 1.40 x 0.62 - 1 = 17.18%

6 0
3 years ago
LO 1.3Briefly discuss the chain of command for someone being hired into an organization as a staff managerial accountant.
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Answer:

A staff managerial accountant is part of the mid-level accounting management.

The top position in the chain of command is the Chief Financial Officer, who is in charge of all financial matters within the firm, especially of presenting accurate financial information at the end of the accounting year to management, stockholders, and potential investors.

Directly below him is the controller, an important position in charge of reporting financial statements during the year, and helping gather information for auditors during external audtis.

Below a staff managerial accountant would be lower level accounting who are in charge of bookeeping on a daily basis.

3 0
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"A 45-year old man earns $150,000 per year and is covered by his employer's 401(k) Plan. He quits" his job and moves to a new co
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Not to leave previous job.

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  • First of all, the question is that what he will lose after leaving the job?
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