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
Anna35 [415]
3 years ago
13

Andrew is saving up money for a down payment on a car. He currently has $5470, but knows he can get a loan at a lower interest r

ate if he can put down $6253. If he invests the $5470 in an account that earns 4.8% annually, compounded quarterly, how long will it take Andrew to accumulate the $6253? Round your answer to two decimal places, if necessary.
Business
1 answer:
Flauer [41]3 years ago
8 0

Answer:

2.79 quarters, so almost 3 quarters or 9 months

Explanation:

We write the equation, and solve it. To solve for x, as x is an exponent, we must use logarithms.

5,470(1+0.048)^{X} = 6,253\\(1.048)^{X}  = \frac{6,253}{5,470} \\(1.048)^{X} = 1.14\\XLog1.048 = Log 1.14\\X = \frac{Log1.14}{Log 1.048} \\\\X = 2.79\\

You might be interested in
If an advertisement is affiliated with a website's content, what might that suggest?
Zanzabum

Answer:

It suggests that the advertisement financially supports the website  ( C )

Explanation:

Affiliation is the official attachment of businesses with common interest wherein one party controls or is in-charge of the business relationship between the parties. in some cases a third party might be in control as well.

The information found on an advertisement that is affiliated with a website content shows that the advert and the website are in business together hence the advert supports the website financially, because the details contained in the advert might be drawn from the contents of the websites.

5 0
3 years ago
What are spot rates and forward rates? Purple Panda Importers, a U.S. company, produces and exports industrial machinery oversea
Fudgin [204]

Answer:

1. As you have to spend more Yens for 1 USD at future date, it means that Yen is selling at discount in the forward market relative to the US Dollar.

2. The spot exchange rate is ¥132.78 per dollar, hence, total dollars Purple Panda Importers will receive today is ¥625 million/¥132.78 = $4.71 million

3.  Purple Panda Importers would get more dollars if the Japanese firm paid off its account <u>today</u>.That is, he will get more money if the account is paid today.

5 0
3 years ago
Four types of visual aids<br>​
lord [1]

Answer:

FOUR types of visual aids are, but not limited to, physical samples, models, handouts, pictures, videos.

3 0
3 years ago
ABC purchases inventory for $2,000 and incurs shipping costs of $100 for the goods to be delivered. To record this transaction,
Rus_ich [418]

Answer: 1. D) Assets are understated

2. D) Car dealers

Explanation:

1. The shipping costs to bring Inventory into a business are known as Carriage Inwards. This amount is to be debited with the Inventory as it is considered to be part of the cost of acquiring the inventory. By not putting this cost with the inventory, ABC is undervaluing the inventory account which is an Asset account. The Assets are therefore understated.

2. The Specific Identification Method of inventory valuation is based on each individual unit purchased or sold. It does not group items and tracks each item from the moment it is purchased to the moment it is sold so the cost of the specific inventory is known. This method is used more often by businesses that deal with easily identifiable items such as Jewellers and Car dealers because each car is big enough to be tracked individually.

6 0
3 years ago
Atlantic+bank+is+required+to+hold+10%+of+deposits+as+reserves.+if+the+central+bank+increases+the+discount+rate,+how+would+atlant
ohaa [14]

In this case the Atlantic bank will respond by increasing its bank reserves.

Bank reserves is the minimal amount of cash that financial institutions must keep on hand in order to comply with central bank standards . The purpose of the cash reserve regulations is to make sure that every bank has enough cash on hand to handle any significant and unforeseen demand for withdrawals.

The federal discount rate is the interest rate that the Federal Reserve  bank charges banks to borrow money from it.

A higher discount rate makes it more expensive for banks to borrow, which reduces the amount of money available and reduces investment activity.  In contrast, a decline in the discount rate lowers the cost of borrowing for commercial banks, which increases the amount of credit that is accessible and lending activity across the economy.

To learn more about  bank reserves here

brainly.com/question/16196841

#SPJ4

3 0
2 years ago
Other questions:
  • A list of all the accounts from the ledger with their ending balances is called a what?
    8·2 answers
  • Club A offers membership for a fee of $ 23 plus a monthly fee of $ 29. Club B offers membership for a fee of $ 27 plus a monthly
    6·1 answer
  • A decentralized organizational structure is predicated on a belief that A. decision-making authority should be put in the hands
    12·1 answer
  • Mesa Corp. allocates overhead to production on the basis of direct labor costs. Mesa’s total estimated overhead is $450,000 and
    5·1 answer
  • The population of a country has a relative growth rate of 3% per year. The government is trying to reduce the growth rate to 2%.
    11·1 answer
  • Failure to understand the beliefs and expectations of stakeholders:a. Causes a company's profits to increase in the short run.b.
    11·2 answers
  • Coronado Industries began the year 2022 with retained earnings of $661000. During the year, the company sold additional shares o
    14·1 answer
  • On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,200,000 for $5,000,000. Rigsby appropriately uses the i
    9·1 answer
  • Any one Indian here I'm from India.​
    13·1 answer
  • Anyone wanna join my pad let
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!