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
Llana [10]
3 years ago
7

If you wish to have $60,000 in 8 years, how much do you need to deposit in the bank today if the account pays an interest rate o

f 9%
Business
1 answer:
liberstina [14]3 years ago
5 0

Answer:

PV= $30,111.98

Explanation:

Giving the following information:

Future value= $60,000

Number of periods= 8

Interest rate= 9%

<u>To calculate the initial investment, we need to use the following formula:</u>

FV= PV*(1+i)^n

<u>Isolating PV:</u>

PV= FV/(1+i)^n

PV= 60,000 / 1.09^8

PV= 30,111.98

You might be interested in
College students often buy cheap pizza because it’s more affordable. Suppose after graduating, college students find high paying
Margarita [4]

Answer:

D) The demand for cheap pizza will decrease because demand for cheap pizza is negative related to income.

As students finds high paying job, they are now able to buy more expensive pizza, which means that a number of customers for cheap pizza will be decreased

5 0
2 years ago
A registered representative solicits a new customer to purchase a "penny stock." Prior to effecting the transaction, which proce
marta [7]

Answer: StatusB B. Have the customer sign a statement that he understands the risks involved prior to executing the order

Explanation:

The options to the question are:

StatusA A. Send a prospectus to the customer

StatusB B. Have the customer sign a statement that he understands the risks involved prior to executing the order

StatusC C. Have the branch manager approve the order and then fill the customer's order in the same manner as with any other security

StatusD D. Send the customer a Subscription Agreement to be signed before filling the order.

The correct answer is StatusB B. Have the customer sign a statement that he understands the risks involved prior to executing the order.

Under the penny stock rule of the Securities exchange commission, when a new customer is being solicited by a registered representative to purchase an over-the-counter stock non-NASDAQ, a detailed statement must be completed by the registered representative on behalf of the customer.

7 0
3 years ago
Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee de
zhuklara [117]

Answer:

Total sum at te end of 6 years=$ 73,138.97

Explanation:

<em>The total sum in Lee's account at the end of year would be determined as follows:</em>

FV= A × (1+r)^n

FV- Future sum?,

A- deposit amount ,

r- interest rate - 9%/2 = 4.5% per 6 months

n- number of years is 6

First deposit for  6 years

FV =  15,000× 1.045^(2×6)

 =  $25,438.22

Last 40,000 for 2 years

FV = 40,000 1.045^(2×2)

   =47,700.74403

Total sum at the end of 6 years

= $25,438.22 + $47,700.74

=$ 73,138.97

6 0
3 years ago
As little as _______ percent of privately owned businesses ever move from the start-up stage to the success stage.
melomori [17]
The answer is D: 6% of these businesses
8 0
2 years ago
Read 2 more answers
Last year, a small nation with abundant forests cut down $200 worth of trees. $100 worth of trees was then turned into $150 wort
borishaifa [10]

Answer:

$400

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Inventory grew by (200 - 100) $100

$50 of value was created

total gdp = $100 + $250 + 50 = $400

4 0
3 years ago
Other questions:
  • uppose that Sam, an economist from an AM talk radio program, and Teresa, an economist from a public television program, are argu
    7·1 answer
  • Which type of markup takes into account the total costs of running the company not just the wholesale cost of the product so tha
    6·2 answers
  • In network marketing sales people earn money from their own sales and from what?
    9·2 answers
  • What makes a checking account more conveniant than a savings account?
    11·2 answers
  • The internal rate of return : (mark all that applies) does not need a required rate to calculate. rule states that a typical inv
    9·1 answer
  • Following are selected accounts for Target Corporation. (a) Indicate whether each account appears on the balance sheet (B) or in
    6·1 answer
  • Explain the difference between a depository institution and a non-depository institution.
    7·1 answer
  • A cement manufacturer has supplied the following data:
    12·1 answer
  • Peter's Pans sells cooking pans for $30 each. The company
    14·1 answer
  • Costs are all of the costs associated with an economic exchange?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!