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
svp [43]
3 years ago
11

Suppose you invest $1000 at an interest rate of 6%, compounded annually. Calculate the equivalent interest rate under continuous

compounding (find the interest rate r that would give the same result if interest were compounded continuously). Hint: You can consider the situation for 1 year (let t=1).
Business
1 answer:
Vikki [24]3 years ago
8 0

Answer:

The equivalent interest rate under continuous compounding is 5.8%

Explanation:

Annual compounding

A = P(1+r)^n

P = $1,000

r = 6% = 0.06

n = 1 year

A = 1000(1+0.06)^1 = 1000(1.06) = $1060

Continuous compounding

A = Pe^rt

A = $1060

P = $1000

t = 1 year

1060 = 1000e^r

e^r = 1060/1000 = 1.06

e^r = 1.06

r = ln 1.06 = 0.058 = 5.8%

You might be interested in
Describe how a job interview is affected by your clothing and body language in complete sentences.
Pachacha [2.7K]
If you dress casually and is all slumped down it can show that you dont care about the job but if you dress all formally and sitting up straight with your hands folded making eye contact they will know you really want the job and that your actually interested 
5 0
3 years ago
Match the academic requirements with the careers :
Vedmedyk [2.9K]

Answer:

a. Equal opportunity officer-Bachelors degree

b. Court reporter- Tech program

c. Security officer-High school diploma

Explanation:

a. Equal opportunity officer

An equal opportunity officer have the responsibility of formulating and ensuring policies that are not discriminatory and are in line with the best practice at the workplace. As the name suggests, they basically use policies that offer equal opportunity to all individuals without discrimination based on age, sex, religion and race. The following are typical duties and responsibilities of an equal opportunity officer;

1. They support and maintain legislation against workplace discrimination.

2. Offer advice to staff regarding equal opportunity practice at the workplace.

3. They work with other organizations that are also involved in equal opportunities.

4. They make sure that when there is a promotional opportunity, it is handled fairly.

5. Training courses regarding equal opportunities are designed and led by equal opportunity officers.

The minimum academic qualifications for becoming and equal opportunity officer is a Bachelors degree.

b. Court reporter

Court reporters are charged with the responsibility of transcribing oral information during a court session. They are also known as stenographers or steno-type operators. Some court reporters also offer real-time video-captioning for television proceedings. The y have the following duties;

1. Upon the judge's request, the court reporter can play back a portion or all of the proceedings.

2. Make written transcripts during court events

3. They can also request speakers to repeat inaudible speech or statements

4. Once the transcripts are written they also review them for typing errors.

Court reporting is a hands on career that needs a lot of training in typing and listening. The academic qualifications usually considered here is a Tech program where aspiring candidates are trained on how to be an effective court reporter.

c. Security officer

A security officer are trained officers whose main duty is in the protection of lives and property. They do this through strategies such as patrolling, monitoring and reporting. Security officers have to be vigilant and of high sense of integrity. Security officers have the following duties and responsibilities;

1. Monitoring to ensure that everything and everyone is safe.

2. Sounding alarms to alert others.

3. Reporting to higher authorities to prevent damages and losses.

4. Ensures security in building premises by patrolling the premises.

A security officer is an entry-level career that mostly requires a high school diploma.

4 0
3 years ago
Two ways Brexit benefits the US? I don't need anything about why it doesn't, just need two reasons why it does.
Annette [7]

1. Potentially enables US to trade with UK on better terms (than previously allowed when UK was a member of the EU)

2. Expected that Brexit will enable UK government to award National Health Service contracts to US suppliers

3. Brexit weakens the EU and hence makes US/NAFTA relatively stronger

3 0
3 years ago
A financial institution that accepts deposits, makes loans, and provides other
Pepsi [2]

Answer:

B. depository institution.

Explanation:

Depository financial institutions provide customers with a wide range of financial services. They accept customer's deposits, issue loans, process checks, facilitate local and international payment, among others.

Depository financial services comprise commercial banks that are profits oriented and not-for-profit institutions such as credit unions and thrift institutions. Commercial banks charge a higher interest rate on loan issued than credit unions. However, banks can issue bigger loans than credit unions.

6 0
3 years ago
Read 2 more answers
Rodeo, Inc. has a contribution margin ratio of 30%. This month, profit was $12,300 and fixed costs were $15,600. How much was La
Lisa [10]

Answer:

Sales= $93,000

Explanation:

Giving the following information:

Contribution margin ratio= 0.30

Profit= $12,300

Fixed costs= $15,600

<u>First, we need to determine the total contribution margin:</u>

<u />

Total contribution margin= 12,300 + 15,600

Total contribtuion margin= $27,900

<u>Now, to calculate the sales revenue, we need to use the following formula:</u>

Sales= total contribution margin / Contribution margin ratio

Sales= 27,900/0.3

Sales= $93,000

4 0
3 years ago
Other questions:
  • H cheng dishonored his note when presented for payment
    9·1 answer
  • What kind of consumer is a human in the food chain??
    10·1 answer
  • Jimland's government has severe restrictions toward the entry of foreign companies into the country. A foreign company intereste
    5·1 answer
  • A monopolist has four distinct groups of customers. Group A has an elasticity of demand of​ 0.2, B has an elasticity of demand o
    15·1 answer
  • 1 point
    8·1 answer
  • Seether Co. wants to issue new 15-year bonds for some much needed expansion projects. The company currently has 10.6 percent cou
    8·1 answer
  • The cash used to make change when customers pay for their purchases in cash is an example of the _____ motive for holding cash.
    12·1 answer
  • What step is most important for sellers to focus on.
    7·1 answer
  • a. Some entrepreneurs claim that creating a business plan is not necessary for launching a successful business venture. Do you a
    7·1 answer
  • Obenve one urgent social problem in your Community &amp; conceptualise cocial Enterprise that can can solve the problem and make
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!