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
alexdok [17]
3 years ago
8

You’re trying to save to buy a new $215,000 Ferrari. You have $36,000 today that can be invested at your bank. The bank pays 4.3

percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Length of time years
Business
1 answer:
gulaghasi [49]3 years ago
6 0

Answer:

42.45 years

Explanation:

Discounting is the means by which the today's value of an amount in the future is computed. Compounding is the process by which the future value of  a present amount is determined. In other words, the present value of $1 tomorrow is determined by discounting while the future value of $1 tomorrow is determined by compounding.

Where

Fv = Pv(1 + r)^n

Fv is the future value

Pv is the present value

r is rate

n is time

215000 = 36000(1 + 0.043)^n

215/36 = 1.043^n

Taking the log of both sides

log (215/36) = log 1.043^n

n = log (215/36) / log 1.043

n = 42.45 years

It will take 42.45 years to have enough to buy the car

You might be interested in
A service contract for a video projection system costs $90 a year. You expect to use the system for three years. Instead of buyi
xenn [34]

Answer:

$245.09

Explanation:

A service contract for a video projection system costs $90 a year. You expect to use the system for three years.

Instead of buying the service contract, the future value of these annual amounts after three years if you earn 5 percent on your savings will be:

PV  

Ordinary Annuity

​  =C×[  ((1−(1+i)  ^−n ) / i ]

where

n = number of years = 3

i = interest rate = 5%

Present Value of the annuity = 90 x [ ((1 - (1+0.05)^-3) / 0.05] = $245.09

3 0
4 years ago
If an audience doesn't trust you, they won't listen to you. To establish credibility, speakers must earn the audience's trust. W
aalyn [17]

Answer:

Lies.

Explanation:

If i say i'm a rich and talented speaker I better have the proof to back it up otherwise they'll know "I'm" just a phony and all talk. To make urself trustworthy u have to borrow and the day after return somebody's money, or just always do what u say ur going to.

6 0
3 years ago
Effective lessons planning helps early childhood teachers
julia-pushkina [17]

Answer

An effective lesson planning helps early childhood teachers in the following;

• It ensures there is alignment across grades

• Prevents teaching from cover to cover

• It enables teachers to know “how to teach”

• Lesson plan improves the confidence of a teacher which teaching

• Effective lesson plan can be used by other instructors to teach

Explanation

There are many benefits of having a well organized and a clear lesson plan for a set of lessons. A good plan will allow for efficiency in learning and teaching. A teacher is therefore advised to adapt the plans in order to respond to questions raised by students in class and serve the needs of the students. It is better to thoroughly prepare but in class teachers should teach the students not the plan.


6 0
4 years ago
The following financial information is taken from the balance sheets of the Peter Company and the Paul Company:
Iteru [2.4K]

Answer:

Current ratios:

Peter Company Answer = 5

Paul Company Answer = 2.5

Peter company has the higher liquidity than the Paul company. Its current ratio is double than the Paul's.

Explanation:

Company :                 Peter           Paul

Current assets      $200,000    $50,000

Current liabilities   $40,000      $20,000

To calculate Liquidity we will us following ratio formula:

Current Ratio = Current Assets / Current Liabilities

Peter Company

Current Ratio = $200,000 / $40,000 = 5

Paul Company

Current Ratio = $50,000 / $20,000 = 2.5

Peter company has the higher liquidity than the Paul company

8 0
3 years ago
What type of interest group seeks the betterment of society as a whole or the reform of the political, social, or economic syste
CaHeK987 [17]

Answer:

The correct answer will be "Non-economic interest groups ".

Explanation:

  • Such special interests as well as define the classifications of non-monetary or economic interest groups but mostly their serving congressional districts. Citizen organizations are structured around the purposeful rewards that are reasons to facilitate a causation one specializes throughout.
  • This is indeed a party that aims to change almost everything in the community or overhaul the democratic, social structure in a way that still does not ultimately affect the campaign coffers of the participants.
7 0
4 years ago
Other questions:
  • Please list five words to describe your dominant culture. Please list five words to describe a culture with which you are not a
    10·1 answer
  • Ben and Leah are planning their 30-year wedding anniversary and are considering taking a 4-day trip to Alaska. How much will the
    11·2 answers
  • Which represents the best way to compose experience statements? a. Input 35+ accounts receivable using QuickBooks Prepared month
    9·1 answer
  • Which Texas regulatory board, established in 1891, is considered one of the most powerful state regulatory bodies in the United
    15·1 answer
  • Concord Company had bonds outstanding with a maturity value of $311,000. On April 30, 2017, when these bonds had an unamortized
    5·1 answer
  • In recent years, the Federal government’s top three uses of funds were approximately _____ % for income security and pensions, _
    13·1 answer
  • Edgar works at Alpha Inc. He is responsible for identifying individuals with skills required for the various roles in the organi
    5·1 answer
  • John and Karl can live together in a two-bedroom apartment for $500 per month, or each can rent a single-bedroom apartment for $
    15·1 answer
  • Which aspect do you think is most important for an entrepreneur in order to achieve venture capital? Why?
    7·1 answer
  • varicorp offers employee benefits such as flex-time, sabbaticals, and onsite daycare. varicorp knows its employees have a need f
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!