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
hodyreva [135]
3 years ago
5

with financial calculator You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made i

n 6 months. You will then make no more deposits. If the bank pays 4% nominal interest, compounded semiannually, how much will be in your account after 3 years? Round your answer to the nearest cent.
Business
1 answer:
prohojiy [21]3 years ago
5 0

Answer:

FV= $6,308.12

Explanation:

Giving the following information:

Semiannual deposit= $1,000

Number of periods= 6

Interest rate= 4%= 0.04= 0.04/2= 0.02

<u>To calculate the future value, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= semiannual deposit

FV= {1,000*[(1.02^6) - 1]} / 0.02

FV= $6,308.12

<u>In a financial calculator:</u>

Function: CMPD

Set: End

n= 6

i= 2

PV= 0

PMT= 1,000

FV= solve= 6,308.120963

You might be interested in
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would
kotegsom [21]

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would: a. debit Inventory and credit Cost of Goods Sold.

<h3>What is Inventory ?</h3>

Inventory, also known as stock, refers to the goods and materials that a company keeps for the purpose of resale, production, or use. Inventory management is primarily concerned with specifying the shape and placement of stocked goods.

There are four types of inventory: raw materials/components, work in progress (WIP), finished goods, and maintenance and repair (MRO).

Inventory valuation methods include FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost).

Inventory refers to all of the items, goods, merchandise, and materials held by a company for the purpose of reselling in the market for a profit. For instance, if a newspaper vendor uses a vehicle to deliver newspapers to customers, only the newspaper is considered inventory. The vehicle will be considered an asset.

To know more about Inventory  follow the link:

brainly.com/question/24868116

#SPJ4

5 0
2 years ago
Suppose you own a restaurant were does the revenue come from
son4ous [18]
Revenue per hour of labor
8 0
3 years ago
Gilbert Company made an ordinary repair to a delivery truck during 2016 at a cost of $500 and capitalized the repair cost. What
Leto [7]

Answer:

The answer is:

Asset will be overstated

Net income will be overstated

Explanation:

Because of the incorrect capitalization(the process of converting or adding to a firm's asset):

1. Assets are overstated. Assets that shouldn't are added to the entire assets are added. So it's increasing the company's asset whereas it's not.

2. Net income are overstated. Because depreciation too will have to be charged for the asset that wasn't there, therefore, net asset will be overstated.

7 0
3 years ago
Which one of the following is not positive to say to a customer?
Gennadij [26K]
"What I can do is" because it sounds a little aggressive.
3 0
3 years ago
Differentiale<br>Ferentiate between<br>between Commerce, industry and<br>Bruineus​
Orlov [11]

Hello Person!

I do not know this question!

Hope It Helped!

- Answer

JesusLoveMeAlways

7 0
2 years ago
Other questions:
  • How many method(s) of distributing goods and services can satisfy all wants.?
    10·2 answers
  • What is a mission statement?
    13·2 answers
  • (a) A local bookseller is considering expanding store space to increase his capacity for books.
    10·1 answer
  • Who questions silo-thinking or narrow-thinking in organizations? A. Leaders B. Supervisors C. Entrepreneurs D. Managers
    8·2 answers
  • Jack enters into a contract with Jill’s Farm to provide water for Jill’s irrigation needs. Jack fails to deliver. Jill initiates
    10·1 answer
  • Assume that the company wanted to do some
    5·1 answer
  • Farmer Jack is a watermelon farmer. If Jack plants no seeds on his farm, he gets no harvest. If he plants 1 bag of seeds, he get
    7·1 answer
  • A partnership intentionally created and recognized, orally or in writing is known as a(n) _____ partnership.
    8·1 answer
  • M2-28. Computing and Comparing Income and Cash Flow MeasuresPenno Corporation recorded service revenues of $200,000 in 2020, of
    10·1 answer
  • Shane is trying to become better active reader. He has spread his reading assignments over the course of a few days, reads when
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!