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Troyanec [42]
3 years ago
7

Albend Holmes wants to deposit $4,500 in a bank account that pays 8.25 percent annually. How many years will it take for his inv

estment to grow to $10,000? (Round off to the nearest year.)\
Business
1 answer:
vova2212 [387]3 years ago
4 0

Answer:

10 years

Explanation:

A = P(1 + r)^n

A (amount) = $10,000

P (principal) = $4,500

r = 8.25% = 0.0825

10,000 = 4,500(1 + 0.0825)^n

10,000/4,500 = 1.0825^n

2.22 = 1.0825^n

Log 2.22 = Log1.0825^n

nLog1.0825 = Log2.22

n = Log2.22/Log1.0825 = 0.3464/0.034 = 10 years (to the nearest year)

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Resale price maintenance occurs when: a. the manufacturer suggested retail price. b. minimum prices are enforced. c. consignment
Gemiola [76]

Answer:

b. minimum prices are enforced

Explanation:

The manufacturer of certain products deals with their distributors by exploiting the market failures to negotiate ceiling and minimum prices with the threat of not purchase if the agreement is not validated.

This is done to prevent competition between reseller for the price. This makes the reseller profitable and therefore, the manufactured as well.

6 0
3 years ago
Newman Finley wishes to become a millionaire. His money market fund has a balance of $296,375 and has a guaranteed interest rate
Rus_ich [418]

Answer:

Investment period = 24 years

Explanation:

The total amount that an investment made today would become  if invested at a particular rate for certain number of years is known as the future value.

The $1,200,000 is the desired future value, the $296, 375 is the present value and the 6% is the interest rate.

FV = PV × (1+r)^n

1,200,000 = 296,375 × (1.06)^(n)

(1.06)^(n) = 1200000/96,375

(1.06)^(n) =4.048924504

find the log of both sides

n log 1.06= log 4.048924504

n= log 4.048924504/log 1.06

n = 24

It will take 24 years

3 0
3 years ago
Although the discount stores in Goreville central shopping district are expected to close within five years as a result of compe
rosijanka [135]

Answer: <em>Option (B) is correct.</em>

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If true, the following will most seriously weakens the argument: There has been an increasing rate in store opening in the central shopping district (CSD) since Colson's have opened discount stores.

Since after Colson's opened, the locations which were vacant became stores in particular discount store which did not spar with Colson's. Now that we have a discount store & department store without discount. Therefore when these stores close while competing with SpendLess, they wont be replaced with regular non-discount stores .

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The answer is risk-premium
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uysha [10]
The court which you were sentenced to go to. thats where i wrote mine to
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