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kari74 [83]
3 years ago
8

Daniel deposits $2,000 per year at the end of the year for the next 15 years into an IRA account that currently pays 7%. How muc

h will Daniel have on deposit at the end of the 15 years
Business
1 answer:
diamong [38]3 years ago
5 0

Answer:

$50,258.

Explanation:  

According to the scenario, computation of the given data are as follow:-

We can calculate the deposit amount at the end of 15 years by using following formula:-

Deposit Amount per year(PMT) = $2,000

Interest rate = 7% = 0.07

Deposit year (n) = 15 years

Future value(FVIFA) = PMT × [{(1 + interest rate)^number of years - 1} ÷ interest rate]

= $2,000 × [{(1 + 0.07)^15 - 1} ÷ 0.07]

= $2,000 × [{2.7590315 - 1} ÷ 0.07]

= $2,000 × [1.7590315/0.07]

= $2,000 × 25.129022

= $50,258

According to the analysis total deposit at the end of the year is $50,258.

         

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A manuscript is sent to a typing firm consisting of typists A, B and C. If it is typed by A, then the number of errors made is a
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Answer:

(a) E(X) = 3

(b) Var(X) = 12.1067

Explanation:

(a) E[X]

E[X]T = E[X]T=A + E[X]T=B + E[X]T=C

         = (2.6 + 3 + 3.4)/3

         = 2.6 (1/3) + 3(1/3) + 3.4(1/3)

         = 2.6/3 + 1 + 3.4/3

         = 3

(b) Var (X) = E[X²]−(E[X])²

Recall that if Y ∼ Pois(λ), then E[Y 2] = λ+λ2. This implies that

E[X²] = [(2.6 + 2.6²) + (3 + 3²) + (3.4 + 3.4²)]/3

         = (9.36 + 12 + 14.96)/3

         = 36.32/3

         = 12.1067

Var(X) = E[X²]−(E[X])²

          = 12 - 3²

          = 12.1067 - 9

          = 3.1067

8 0
3 years ago
Blue Corporation had the following 2017 income statement. Revenues $102,000 Expenses 65,000 $37,000 In 2017, Blue had the follow
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Answer:

Cash provided by operating activities =$28,700.

Explanation:

Look at attachment for step by step guide.

8 0
3 years ago
Cavern Company's output for the current period results in a $5,250 unfavorable direct material price variance. The actual price
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Answer:

3,500 pounds

Explanation:

By applying the below formula we get:

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USD 5,250/(AP - SP) = AQ

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3 years ago
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Carla was unhappy with her haircut. The next time she wanted a haircut, she went to a different hairstylist who Carla thought wa
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Answer:

B. Switching

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Based on the information provided within the question it can be said that the term that would best describe Carla's behavior would be Switching. This is when a customer changes from one product or service provider to another completely different one within the same industry. Usually because of a bad experience or they are overall displeased with the service provided, which seems to be the case with Carla's first haircut.

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