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Tasya [4]
3 years ago
12

Mary Stahley invested $1500 in a 48-month certificate of deposit (CD) that earned 6.5% annual simple interest. When the CD matur

ed, she invested the full amount in a mutual fund that had an annual growth equivalent to 21% compounded annually. How much was the mutual fund worth after 10 years? (Round your answer to the nearest cent.)
Business
1 answer:
ASHA 777 [7]3 years ago
5 0

Answer:

$12714.98

Explanation:

Data provided in the question:

Initial amount invested = $1,500

Simple interest rate = 6.5%

Duration for simple interest = 48 months = 4 years

Now,

Simple interest = Amount × Interest rate × Time

= $1,500 × 0.065 × 4

= $390

Therefore,

Total amount = $1500 + $390

= $1890

Now

The amount = $1890 is invested in mutual fund which is compounded annually at 21% for 10 years

thus,

Final amount = Principle × (1 + r)ⁿ

here, r = 21% = 0.21

n = 10 years

Therefore,

Final amount = $1890 × (1 + 0.21)¹⁰

= $12714.98

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and Leah is saving her account APR of

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Answer:

horizons

Explanation:

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2 years ago
Journalize the December 31 adjusting entry required if the amount of unearned fees at the end of the year is $12,530. Refer to t
BlackZzzverrR [31]

Answer:

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Explanation:

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7 0
3 years ago
Lawrence Summers served as secretary of the treasury in the Clinton administration and as director of National Economic Council
babunello [35]

Answer:

A) taking the cost into account because money spent on pollution reduction is not available for other worthy activities.

Explanation:

The economic approach tries to find solutions for problems optimizing the use of economic resources, therefore reducing costs and increasing benefits for every dollar spent.

Resources are scarce and that includes everyone, from a normal individual, to the richest person in the world, or the richest country in the world. The economic approach states that we should all try to maximize the benefits we obtain while exchanging resources. For example, if we need to study for a text and we know that solving problems helps us to learn more than just reading, then we should spend more time solving problems than reading because that way we can increase our benefits.

The US government and every other government in the world works on a budget and the money it spends doing A, will not be spent doing B. So the government must decide which actions to take in order for maximizing the benefits of the population (i.e. choose between A or B depending on which causes the greatest common good).

4 0
3 years ago
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Aloiza [94]

Answer:

c. $10,000.

Explanation:

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Therefore in this scenario the money paid for the house ($250,000) is not considered to be part of GDP since the original value of $90,000 would have been recorded as GDP 10 years ago.

However the commission of $10,000 that the real estate agent collected for his services is considered a contribution to GDP.

8 0
3 years ago
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