Answer:
$496,852.4
Explanation:
We can find the total estimate mary can get in 30 years by finding the annuity factor first and then apply the future annuity formula
Lets denote
first investment as P
r as a annual return
g as a growth
and n as a number of years
DATA
Salary = $55,000
P = $55,000 * 5% = $2,750
g = growth rate = 3%
r = annual return = 5%
n = 30 years
Solution
Future Value of annuity = [P / (r-g)] x [(1+r)^n - (1+g)^n]
Future Value of annuity == [$2,750 / (9%-3%)] * [(1+9%)^30 - (1+3%)^30]
Future Value of annuity == $45,833.333333 * [13.2676785 - 2.42726247]
Future Value of annuity == $45,833.333333 * 10.840416
Future Value of annuity == $496,852.4
Answer and Explanation:
Cash= 3,099+180-294-294= 2691
Accounts receivable= 3,460-180=3280
Supplies =1,029-729=300
Equipment= 4,029+729=4758
Accounts payable =2,895-206-260= 2429
unearned service revenue=1,429-554= 875
Service revenue= 2,609+801+554 3964
Salaries & wage expense 3,629+899-804= 3724
Find attached
Explanation:
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Answer:
a decrease in the currency-deposit ratio causes the M1 money multiplier to <u>DECREASE</u> and the money supply to <u>DECREASE</u>.
Explanation:
The currency-deposit ratio measures how much currency the banks' clients hold in the banks. A decrease in the currency-deposit ratio will always decrease the money multiplier because banks will hold less money. Inversely, an increase in the currency-deposit ratio will increase the money multiplier.
Banks "create" money when they receive deposits and then lend them to other clients, but if the amount of deposits decreases, the bank's money creating capacity decreases.
Payment History it helps you know what you could do better with your money.<span />