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Andru [333]
3 years ago
5

You plan to save $200 a month for the next 24 years and hope to earn an average rate of return of 10.6 percent. How much more wi

ll you have at the end of the 24 years if you invest your money at the beginning rather than the end of each month?
Business
1 answer:
Allisa [31]3 years ago
3 0

Answer:

$7.278×10^14

Explanation:

A = P(1+r)^n

P = $200, r = 10.6% = 0.106

If the money is invested at the beginning of each month, there would be 12 months in a year for me to invest.

Therefore, n = 24×12 = 288 months

A = 200(1+0.106)^288 = $7.99×10^14

If the money is invested at the end of each month, there would be 11 months for me to invest

Therefore, n = 24×11 = 264 months

A = 200(1+0.106)^264 = $7.12×10^13

Additional amount = $7.99×10^14 - $7.12×10^13 = $7.278×10^14

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4 0
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A strength of generation x managers is likely to be their multiple choice loyalty to the firm. individualistic approach to probl
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<h3>What characterizes a competent manager?</h3>

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3 0
2 years ago
1. __________ is the act of declaring a drivers license void and terminated when it is determined that the license was issued th
katrin2010 [14]

The answer to the blank space is cancellation.

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5 0
3 years ago
What type of marketing did manufacturers begin to use in the late 1800's?
jarptica [38.1K]
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8 0
3 years ago
Suppose that technological advancements stimulate $20 billion in additional investment spending. If the MPC = 0.6, how much will
grin007 [14]

Answer:

option (D) $50 billion.

Explanation:

Data provided in the question:

Additional investment spending = $20 billion

MPC = 0.6

Now,

Increase in aggregate demand = [1 ÷ (1 - mpc) ] × Investment

or

Increase in aggregate demand =  [1 ÷ (1 - 0.4) ] ×  $20 billion

or

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Hence.

the correct answer is option (D) $50 billion.

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3 years ago
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