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
sesenic [268]
3 years ago
14

Suppose you are starting a PhD program with only $1,000 in your savings account. The university has agreed to waive your tuition

, cover all of your living expenses, and pay you an additional stipend of $2,000 at the beginning of each month, as long as you teach one course per semester over the course of five years. If your savings account is able to earn 5.5% per year for the five years that you will be in this program, how much will you have accumulated in your savings account by the end of the program if interest is compounded on a monthly basis
Business
1 answer:
Pachacha [2.7K]3 years ago
8 0

Answer:

savings balance at the end of 5 years: 139.708,75‬

Explanation:

We have to solve for the 1,000 dollar and the annuity given by the college future value:

C \times \frac{(1+r)^{time} -1}{rate} (1+r)= FV\\

C 2,000.00

time 60 (5 years x 12)

rate 0.004583333  (0.055 annual  / 12 months)

2000 \times \frac{1-(1+0.004583)^{-60} }{0.004583} (1+0.004583)= FV\\

FV $138,393.0537

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

Principal 1,000.00

time 60.00

rate 0.00458

1000 \: (1+ 0.00458333333333333)^{60} = Amount

Amount 1,315.70

Total 139.708,75‬

You might be interested in
A person who holds him- or herself out as a specialist or knowledgeable in a certain type of business is one type of
ruslelena [56]

Answer:

Merchant

Explanation:

4 0
3 years ago
Deferred income taxes are based on the:_______.
Hunter-Best [27]

Answer:

a. current tax rate or future tax rates, depending on when the temporary difference will reverse.

Explanation:

Deferred Tax is not payable to tax Authority it is only a book entry used by Accountants to match Income taxes payable in terms of Income Act and Income taxes expected to be presented to users in financial Statements.

Deferred taxes are based on current tax rate or future tax rates, depending on when the temporary difference will reverse.

3 0
3 years ago
Stellar Corporation engaged in the following cash transactions during 2017. Sale of land and building $194,800 Purchase of treas
Law Incorporation [45]

Answer:

The cash provided by investing activities is $91900

Explanation:

The net cash provided or (used) by investing activities is computed thus:

Sale of land and building                     $194800

Purchase of land                                    ($44700)

Purchase of equipment                          ($58200)

Net cash provided by investing activities $91900

The purchase of treasury refers to purchase of own shares from shareholders,hence it is a financing activity

Payment of dividends to shareholders is also a financing activity

Issuance of common stock and retirement of bonds are also financing activity-related,as a result they do not feature in the above computation of cash provided or used by investing activities

3 0
3 years ago
When putting away pallets of freight into multiple depth drive-in bays, what level of racking should be stocked first, second, a
Solnce55 [7]
The level of racking that should be stocked first would be the top bay, followed by the middle bay, and the last level to be stocked would be the bottom bay. It's simpler to remember, "top, middle, then bottom" when putting away pallets of freight into multiple depth drive-in bays. I hope this helps!
7 0
2 years ago
Predictable books are useful in the early childhood classroom because they
Feliz [49]
Help the child see that they themselves can answer what will happen if they come across a situation like so
7 0
3 years ago
Other questions:
  • Use information from the Washington Post article Why We've Been Hugely Underestimating the Overfishing of the Oceans to determin
    9·1 answer
  • Which statement shows that money is a "store of value?"
    9·2 answers
  • In november 2010 the labor force in siouxtown, was 14,800. there were 14,483 persons employed. the local unemployment rate:
    10·1 answer
  • The role of finance in healthcare has increased in importance over time because the finance function must support a multitude of
    6·1 answer
  • Suppose that Third National Bank has reserves of $20,000 and checkable deposits of $100,000. The reserve ratio is 20 percent. Th
    6·1 answer
  • If the price level is fixed and autonomous expenditures rise by $40, then the multiplier model would predict that the aggregate
    13·1 answer
  • Which type of portfolio might a young investor who is not afraid of risk choose? a portfolio of with a high percentage of stocks
    7·1 answer
  • Sheffield Inc. took a physical inventory at the end of the year and determined that $845000 of goods were on hand. In addition,
    12·1 answer
  • Beyond standard benefits like vacation time, sick leave, and health
    12·1 answer
  • Mollie has $550 in a savings account that earns 3% simple interest each year. If she does not deposit or withdraw from her accou
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!