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Arte-miy333 [17]
3 years ago
10

Now, assume that Addison’s savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on

her $1,000 balance. All other things being equal, how much money will Addison have in her account in nine years?
Business
1 answer:
love history [14]3 years ago
5 0

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

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There are no options to choose from. Julie will get paid that fee of customers bias. (if that makes sense). Hope this helps!
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3 years ago
The distance a fragment of dna moves into the gel is proportional to the of the fragment in .
strojnjashka [21]

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6 0
1 year ago
A 20-year maturity bond with par value of $1,000 makes annual coupon payments at a coupon rate of 8%. Find the bond equivalent a
motikmotik

Answer:

since you are required to calculate the effective yield to maturity, you cannot use the approximate YTM formula since it is not exact. You will need to use a financial calculator, online calculator or excel spreadsheet. I prefer to use an excel spreadsheet and use the IRR function:

a) initial outlay = -$970

cash flows 1 - 19 = $80

cash flow 20 = $1,080

IRR = 8.31%

Since the bond is sold at a discount, the effective yield will be higher than the coupon rate.

b) if hte bond is sodl at par, the effective yield to maturity is the coupon rate = 8%

c) initial outlay = -$1,170

cash flows 1 - 19 = $80

cash flow 20 = $1,080

IRR = 6.49%

Since the bond is sold at a premium, the effective yield will be lower than the coupon rate.

4 0
3 years ago
What happens to the price and the quantity of goods and services sold when a store runs a sale?
dybincka [34]
<span>When a store runs a sale the price of goods decrease. The quantity of goods and services sold might be more than usual.</span>
4 0
4 years ago
Rock Adventures has 15 employees each working 40 hours per week and earning $30 an hour. Federal income taxes are withheld at 15
Maslowich

Answer:

the actual direct deposit payroll is $12,843

Explanation:

The computation of the actual direct deposit payroll is shown below;

= Total salary - withholdings

= (15 × 40 × $30) - Federal income tax - state income tax - FICA tax

= $18,000 - ($18,000 × 0.15) - ($18,000 × 0.06) - ($18,000 × 7.65%)

= $12,843

Hence, the actual direct deposit payroll is $12,843

Basically we applied the above formula

4 0
3 years ago
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