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Your wealthy uncle established a $2,100 bank account for you when you were born. For the first 9 years of your life, the interes

zloy xaker [14]

The future value of the account established by the wealthy uncle will be $3,943.86 after 23 years at the two interest rates.

<h3>What is future value?</h3>

The future value of an amount is the value obtained in the future after compounding at an interest rate.

The future values after years 9 and 23 can be determined using an online finance calculator as follows:

<h3>Future Value of $2,100 after 9 years:</h3>

N (# of periods) = 9 years

I/Y (Interest per year) = 4%

PV (Present Value) = $2,100

PMT (Periodic Payment) = $0

<u>Results:</u>

FV = $2,988.95

Total Interest $888.95

<h3>Future Value of $2,988.95 after 14 years:</h3>

N (# of periods) 14 (23 - 9)

I/Y (Interest per year) = 2%

PV (Present Value) = $2,988.95

PMT (Periodic Payment) = $0

<u>Results:</u>

FV = $3,943.86

Total Interest $954.91

Thus, the future value of the account established by the wealthy uncle will be $3,943.86 after 23 years at the two interest rates.

Learn more about future values at brainly.com/question/24703884

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6 0

2 years ago

The night before a midterm exam, you decide to go to the movies instead of studying for the exam. You score 60 percent on your e

Aleks [24]

Answer:

10% of exam score

Explanation:

Opportunity Cost is the cost of next best alternative, foregone (sacrifised) while making a choice.

Example : If a person has option to have an apple or an orange, & choses to have apple. The opportunity cost of having an apple is the sacrifised orange.

Given : A night before mid time exam, spent while watching movies - later lead to fall in exam grade from 70 % to 60%

The opportunity cost of movies watched, is the sacrifised grade of exam, which would have gotten, if the time would have spent in studying. The corresponding grade lost = 70% grade achievable - 60% grade achieved. Hence, the opportunity cost = 10% of exam score.

4 0

3 years ago

Suppose Asarta Inc. is polluting yucko and they have been tasked with cleaning up some of their waste. The company decides to cl

uranmaximum [27]

Answer: The answer is No, because the MB > MC

Explanation:

They are not cleaning up enough because the MB>MC. Therefore, all other options which cut across - Yes, because the MC > MB,

No, because the MB > MC,

Yes, because the MB > MC and

No, because the MC > MB are wrong.

5 0

3 years ago

What is one of the advantages of buying an existing business?

leonid [27]

You don't have to pay for construction and people are already aware of the business's existence.

4 0

3 years ago

Maddy has been performing at a very high level at a firm, and so when two of her colleagues who are currently leading other deve

tatuchka [14]

<span>The second team is currently in the requirements phase of their project. In this phase, the team would plan and spell out exactly what is required of the system that they are constructing. This phase comes with heavy input from stakeholders who help define the scope and nature of the project.</span>

5 0

3 years ago