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finlep [7]
3 years ago
7

Michelle is attending college and has a​ part-time job. Once she finishes​ college, Michelle would like to relocate to a metropo

litan area. She wants to build her savings so that she will have a​ "nest egg" to start her off. Michelle works out her budget and decides she can afford to set aside ​$ per month for savings. Her bank will pay her per​ year, compounded​ monthly, on her savings account. What will be​ Michelle's balance in five​ years?
Business
1 answer:
sergey [27]3 years ago
4 0

Answer: $3,232.34

Explanation:

Michelle is depositing a constant amount so this is an annuity. The balance on her account will be the future value of an annuity.

5 years to months = 5 * 12 = 60 months

3% to monthly rate = 3%/12 = 0.25%

Future value of annuity

=Payment * \frac{(1 + r)^{n} - 1 }{r} \\=50 * \frac{(1 + 0.0025)^{60} - 1 }{0.0025}\\= 3,232.34

= $3,232.34

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The classification is as followS:

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In this way it should be classified

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3 years ago
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a client undergoes personalility changes and has difficulty with voluntary activities. the client is diagnosed with a brain tumo
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Answer:

3. Frontal Lobe

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In  Washington, the sector that has spent the most on lobbying over the past 24 years is the pharmaceutical and health goods sector. Insurance, electric utilities, electronics manufacturers, and business groups are further businesses that spend a lot of money on lobbying.

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