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
OLga [1]
3 years ago
12

You currently have $5,400. First United Bank will pay you an annual interest rate of 8.9, while Second National Bank will pay yo

u an annual interest rate of 10. How many fewer years must you wait for your account value to grow to $13,900 at Second National Bank?A. 1.06 yearsB. 1.08 yearsC. 1.40 yearsD. 1.17 yearsE. 1.32 years
Business
1 answer:
IRISSAK [1]3 years ago
8 0

Answer:

Second National  Bank

Present value (PV) = $5,400

Future value (FV) = $13,900

Interest rate (r) = 10% = 0.10

FV = PV(1 + r)n

$13,900 = $5,400(1 + 0.10)n    

<u>$13,900</u> = (1.10)n

$5,400            

2.574074074 = (1.10)n

Log 2.574074074 = n  log 1.10

<u>Log 2.574074074</u> = n  

Log 1.10                  

n =  9.9 years      

None of the answers is correct                                                                                                                                                          

Explanation:

In this case, we will apply the formula of future value of a lump sum. The present value, interest rate and future value were provided with  the exception of number of years. Thus, the number of years becomes the subject of the formula. The future value equals present value, multiplied                     by 1 plus interest rate, raised to power number of years.                                                                                                                                                                                                        

You might be interested in
The government in Chile recently informed Clint Travis' company that his retail grocery chain in Chile would have to be graduall
BartSMP [9]

Answer:

Option C

Explanation:

In simple words, Domestication happens when host nations gradually shift foreign capital to indigenous administration as well as possession through with a succession of governmental decrees that mandate local ownership and increasing national participation in administration.

Hence, from the above we can conclude that the correct option is C.

5 0
3 years ago
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its c
JulsSmile [24]

Answer:

Macro-environment

Explanation:

Macro-environment is a factor which exists in the overall economy, and it affects the whole economy. It is relatively more damaging compared to micro-environment because micro-environment affects individuals. The above scenario is referring to macro-environment because political, cultural, technological are forces which affect the whole economy.

6 0
3 years ago
Categorize each transaction according to the U.S. account to which it belongs and the direction the money flows.
Shalnov [3]

Answer:

1. An Australian company buys steel from a US Firm

Account: Current Account

Direction of Flow: Payment to foreigners

2. The federal reserve buys $252 billion worth euros

Account: Financial Account

Direction of Flow: Payment to foreigner

3. Profit earned by a US based mining company operating in Mexico  

Account: Current account

Direction of Flow: Payment from foreigners

4. An English company buy a US confectionary manufacturer

Account: Financial Account

Direction of Flow: Payment from Foreigners

3 0
3 years ago
The BMW StreetCarver is a $495 skateboard that features BMW's technology in its wheel suspension, which stabilizes the board's s
posledela

Answer:

explaining the stability and control aspects of the StreetCarver in its advertising messages

Explanation:

Based on the scenario being described within the question it can be said that In this case, it will most likely focus on explaining the stability and control aspects of the StreetCarver in its advertising messages. That is because these aspects are the highlights of what make the StreetCarver unique and better than the other options in the market, therefore these aspects are what will place the StreetCarver in the consideration set of potential skateboard buyers.

6 0
3 years ago
Three taxpayers have claimed the EIC for the same child and all three were eligible to claim the child. One is the child's mothe
neonofarm [45]

The Parent taxpayer is entitled to the earned income credit

<u>Explanation:</u>

The federal income tax credit or income credit in the United States is a refundable tax credit, particularly those with children, for low- to moderate-income working individuals and couples. The EITC benefit amount depends on the income of the recipient and the number of children.

The EITC benefits low to reasonable-income parents but offers very little assistance to workers without eligible children (often referred to as childless workers). Income tax credit (EITC). Workers earn a loan up to a limit of one percent of their income.

8 0
3 years ago
Other questions:
  • Anemployer may choose to match money employees invest in a
    5·1 answer
  • Cash Sales Credit Sales January $ 50,000 $ 150,000 February $ 55,000 $ 170,000 March $ 43,000 $ 130,000 April $ 38,000 $ 123,000
    7·1 answer
  • All of the following components are commonly found in rental housing agreements EXCEPT:
    10·1 answer
  • Company purchased equipment at a cost of $120,000 that has a depreciable cost of $90,000 and an estimated useful life of 3 years
    15·1 answer
  • A company buys ten shares of securities at $1,000 each on January 15, year 1. The securities are classified as available-for-sal
    10·1 answer
  • Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepa
    13·1 answer
  • Variable Cost Ratio, Contribution Margin Ratio
    8·1 answer
  • 1.Have you or someone you know worked somewhere where the culture was strong? What was your reaction to that strong culture? Did
    5·1 answer
  • What is the distinguishing feature of a market structure with monopolistic competition?
    15·1 answer
  • within just a few years of its inception, uber was operating in more than 35 countries around the world. by moving into new mark
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!