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
Drupady [299]
3 years ago
6

An account credits interest at an effective rate of 4% for years 1-3, 5% for years 4-6, and 6% for years 7-9. Deposits of $1,000

are made into the account at the end of each year for 9 years. Calculate the accumulated value of the deposits at the end of 9 years.
Business
1 answer:
netineya [11]3 years ago
3 0

Answer:

The accumulated value of the deposits at the end of 9 years is <u>$11,242.18</u>

Explanation:

Note: Find attached the excel file for the calculation.

Since the deposits are made into the account at the end of each year, interest will be earned on the opening balance for each year since it remains the account for 12 months.

No interest will be earned on the deposit of $1,000 made at the end of each year.

The opening balance, interest earned and the deposit for each year are then added together to obtain the closing balance for each year.

Since the closing balance for year 9 is <u>$11,242.18</u>, this is therefore the accumulated value of the deposits at the end of 9 years.

Download xlsx
You might be interested in
Which one of the following is not a part of the business case for why companies should act in a socially responsible manner? A.
Amanda [17]

Answer:

Every business has a moral duty to be a good corporate citizen.

Explanation:

Businesses are formed to make profit, and this is the primary goal of businesses. So when making a business case for a company to act in a socially responsible manner, the benefit to the business as profits is the primary consideration.

If it is argued that every business has a moral duty to be a good corporate citizen, it does not translate to profits or benefit for the company.

So this is a weak argument when a business case is being created for why businesses should act in a socially responsible manner.

3 0
3 years ago
Refer to the accompanying consumption schedule in an economy. All figures are in billions of dollars. If gross investment is $34
dezoksy [38]

Answer:

C+$64

Explanation:

The GDP measures the market value of all good and services produced in an economy (country or region) in a specific period of time. It is calculated by this formula:

GDP= Consumption (C)+ Investment (I)+ Government expenditure ()+ Net exports (exports-imports)

A lump-sum tax at all levels of GDP means that no matter what GDP value is, the tax will be the same amount. If the tax is collected by the government then the GDP will increase because the government expenditure is income ( most of them are taxes) minus expenses ( public investment in education, health, etc)

GDP= C+$34+$30+0

After tax, the equilibrium level of GDP will be C+$64

8 0
3 years ago
Which of these conditions signals that it is likely time to update or eliminate a
Nadya [2.5K]

Answer:

D

Explanation:

when the record is updated,

5 0
3 years ago
Presented below is information related to Lexington Real Estate Agency.
Ber [7]

Answer:

Oct 1

DR Cash............................................................................$20,000

CR Common Stock.........................................................................$20,000

Oct 2. No entry required

Oct 3

DR Office Furniture .....................................................$2,300

CR Accounts Payable................................................................$2,300

Oct 6

DR Accounts Receivable.............................................$3,600

CR Service Revenue - Realty services...................................$3,600

Oct 27

DR Accounts Payable ..................................................$850

CR Cash .......................................................................................$850

Oct 30

DR Salaries Expense ....................................................$2,500

CR Cash ..........................................................................................$2,500

3 0
3 years ago
Complete the statements and then calculate the change in consumption. The consumption function shows the relationship between co
White raven [17]

Answer:

Disposible income.

Marginal propensity to consume.

Disposible income, marginal propensity to consume.

The consumption will increase by  $800

Explanation:

The consumption function shows the relationship between consumption spending and disposible income.

The slope of the consumption function is the marginal propensity to consume.

Changes in consumption can be predicted by multiplying the change in disposible income by the marginal propensity to consume.

Given:  MPC = 0.80

           Disposible income increases by $1,000

consumption increase =  0.80*$1000

                                     = $800

Therefore, The consumption will increase by  $800.

7 0
3 years ago
Other questions:
  • Kara wants to open a retailing outlet in her town. Her family has been in the business of selling hardware items before. She wan
    8·2 answers
  • This question tests your knowledge of what activities are included in calculating GDP. Decide for each item whether it is part o
    11·1 answer
  • When a country chooses to limit the kinds of goods or services it produces, it is practicing
    5·2 answers
  • _______ data would be useful for creating a report containing last year's revenue, which won't be changing.
    15·1 answer
  • What helps the resources and goods and services move around the circular flow?
    6·1 answer
  • How much of a song can I use in a project ?
    12·1 answer
  • Which of the following would be the most beneficial college course for an aspiring photojournalist to take?
    9·2 answers
  • Stan works from home in Louisiana. His company is located in Washington. This work arrangement is
    5·1 answer
  • How can prices and elasticity cause colleges and universities to offer financial aid to low-income students?
    8·1 answer
  • When a factory is operating in the short run? a. average fixed cost rises as output increases. b. it cannot alter variable costs
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!