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Soloha48 [4]
3 years ago
12

An individual is planning to set-up an education fund for her daughter. She plans to invest $7,700 annually at the end of each y

ear. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years
Business
1 answer:
daser333 [38]3 years ago
4 0

Answer:

$96,154.20

Explanation:

We are to find the future value of the annuity

The formula for calculating future value = A (B / r)

B = [(1 + r)^n] - 1  

A = Amount

R = interest rate  

N = number of years

[(1.08)^9 - 1 ] / 0.08 = 12.487558

12.487558 x $7,700 = $96,154.20

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It can help you to make your products, services and marketing stand out. You can use this knowledge to create marketing strategies that take advantage of your competitors' weaknesses, and improve your own business performance.

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2 years ago
Many times when working with a new manager, Amy, a successful small-business owner, asks the manager, "What management method do
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False

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3 0
3 years ago
A tyre manufacturer wants to set a minimum mileage guarantee on its new MX100 tyre. Tests reveal the mean mileage is 47,900 with
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Answer:

51,487.5

Explanation:

Calculation to determine the minimum guaranteed mileage should the manufacturer announce

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x = 51,487.5

Therefore the minimum guaranteed mileage that the manufacturer should announce is 51,487

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For a film studio to make a profit, it has to be able to earn enough to offset expensive initial costs. a large portion of the p
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Explain how a manager at a Subway or any fast food restaurant restaurant can use feedforward control to get the best customer sa
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Customer satisfaction is increased as a result of quality management, which also enables businesses to meet customer expectations. One of the key areas where businesses need to be knowledgeable enough is in the service quality.

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One of the top brands on the global market is Subway, which places a high priority on maintaining the quality of its products and providing excellent customer service.

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  • To remain competitive in the marketplace and achieve its goal of being the healthiest alternative in the fast food sector, the company must maintain the quality of the items.

To know more about the subway, here

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