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Eddi Din [679]
3 years ago
14

you open a bank account, making a deposit of $500 now and deposits of $1,000 every other year. what is the total balance at the

end of 10 years from now if your deposits earn 4% interest compounded annually
Business
2 answers:
BaLLatris [955]3 years ago
6 0

Answer:

future value = $6625.34

Explanation:

given data

deposit now  = $500

deposit every other year = $1000

rate = 4 %

time = 10 year

solution

we know here that you $1,000 deposits skipping one year

we get here future value that is express as

future value = deposit ×  (1+r)^{t}   .......................1

put here value

future value = 500 ×  (1+0.04)^{10} + 1000 ×  (1+0.04)^{8} + 1000 × (1+0.04)^{6} + 1000 × (1+0.04)^{4} + 1000 × (1+0.04)^{2} + 1000    

solve it we get

future value = $6625.34

zimovet [89]3 years ago
3 0

Answer:

9880

Explanation:

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As for the information provided,

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The conflict between Accline cars and its dealers is a conflict in the same chain, in between two different people, and at two different positions.

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4 years ago
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3 years ago
The controlling account in the general ledger that summarizes the individual customer accounts in the subsidiary ledger is entit
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4 years ago
A company is evaluating an expansion. This capital investment will require a cash outflow today of $6,500,000. The firm estimate
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Answer:

Net present value of this project is $282470.22

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Despite that this capacity of 100 seats are filled for the term, the school can decide to increase its tuition fee in order to increase its profitability for the school session.

Read more about profitability

<em>brainly.com/question/1078746</em>

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