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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

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QveST [7]

When there are differences between the cash balance per bank and the cash balance per book, this is due to the Bank reconciliation statement.

The key difference between cash book balance and bank statement balance is that cash book balance shows the cash balance recorded in a company's cash book while bank statement balance is the cash balance recorded by the bank in its bank records. is.

Such fees and charges are charged to the savings cash balance book, but no entry is made in the cash book unless the company receives the savings book from the bank and records these entries. This creates a difference between the two balances.

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2 years ago
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wolverine [178]

Answer:

$7.04

Explanation:

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3 years ago
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Year 1 Year 2 EBITDA $7,650 $9,150 Total value of equity $76,500 $82,500 Total firm value $99,450 $132,000 What is value of the
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