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mr Goodwill [35]
3 years ago
10

Phillip deposited $7,775 into a savings account 14 years ago. the account has an interest rate of 4.5% and the balance is curren

tly $14,398.87. how often does the interest compound?
Business
1 answer:
Bas_tet [7]3 years ago
3 0
The future amount of an investment with compound interest can be calculated through the equation,

     F = P x (1 + ieff)^n

where F is the future amount, P is the current value of the money, ieff is the effective interest (rate per year), and n is the number of years.

From the equation, all are given except for the effective interest, i. Now, substituting the known values,
  14,398.87 = (7,775) x (1 + ieff)^14

The value of ieff from the equation is 0.044999. 

Since the value of the ieff when translated to percentage is equal to 4.5% as well, the interest rate is compounded yearly. 
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List two effects of the invention of the cotton gin.
kogti [31]

Answer:

While it was true that the cotton gin reduced the labor of removing seeds, it did not reduce the need for slaves to grow and pick the cotton. In fact, the opposite occurred. Cotton growing became so profitable for the planters that it greatly increased their demand for both land and slave labor.

4 0
3 years ago
Read 2 more answers
"The current philosophy among managers today is best described as transaction management."A. TrueB. False
EastWind [94]

Answer:

A. True

Explanation:

Transaction management is a current philosophy among managers, in which the managers develop future-oriented processes and  and implement programs that helps to solve business problems along side bring out the best in each employee. This management philosophy can also be said to be one in which a manager undertakes personnel management, time management and also organizational management.

Cheers.

6 0
3 years ago
Lisa watched a news report on recycling, and was proud that citizens had stepped up to be more conscious of what they throw away
ivann1987 [24]
<span>This shows how framing a message can be important. The same report is eliciting two very different types of feedback: one, pride in the fact that people are doing something positive and the other, frustration in the prevalence of poor stewardship practices. Framing the message as was done allowed either conclusion to be drawn without either being incorrect.</span>
7 0
4 years ago
Which of the following statements provides a summary of cash receipts and cash payments for a specific period of time such as a
AleksAgata [21]

Answer:

Option B                              

Explanation:

In simple words, cash flow statement refers to the financial statement in which an organisation depicts its sources and uses of cash for a specified period of time such as month or an year.

In this statement the inflows and outflows are categorized into three categories. Any cash flow from core business activities is grouped into operating activities section. Whereas cash flows from sale and purchase of machinery is categorized as cash flow from investing activities while transactions related to shareholders is recorded in financing activities section.

3 0
4 years ago
Imagine that you earned $8,425 in one year. If the government enforces a 15% income tax, how much money would you owe in taxes a
wlad13 [49]

Answer:

$1, 263. 75

Explanation:

If annual income is  $8,425 and the tax rate is 15%,

Annual Tax would be 15% of $8,425

=15/100 x $ 8425

=0.15 x 8, 425

=$1, 263.75

4 0
3 years ago
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