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
STatiana [176]
3 years ago
13

Judith puts $5000 into an investment account with interest compounded continuously. which approximate annual rate is needed for

the account to grow to $9110 after 30 years?
Business
1 answer:
Oxana [17]3 years ago
3 0
In the question, continuously should be annually.

Solution:
Applicable formula is;
A = P(1+r)^n

Where;
A = Total amount after 30 years = $9,110
P = Amount invested = $5,000
r = Annual interest rate in decimals
n = Number of years = 30

Substituting;
9110 = 5000(1+r)^30
9110/5000 = (1+r)^30
1.822 = (1+r)^30
Taking natural logs on both sides;
ln (1.822) = 30 ln (1+r)
0.5999 = 30 ln (1+r)
0.5999/30 = ln (1+r)
0.019998 = ln (1+r)
Taking exponents on both sides
e^0.019998 = 1+r
1.0202 = 1+r
r = 1.0202 -1 = 0.0202 =2.02%

Therefore, annual interest rate should be 2.02%.
You might be interested in
Opportunity costs at a manufacturing company are not part of manufacturing overhead. True or false?.
Bess [88]

It is true that Opportunity costs at a manufacturing company are not part of manufacturing overhead.

<h3>What is Opportunity costs ?</h3>

Opportunity costs can be described as the term that represent the potential benefits which  individual, investor, misses out in the process of choosing one alternative over another.

Because opportunity costs are unseen  can be easily overlooked, therefore, in this case, It is true that Opportunity costs at a manufacturing company are not part of manufacturing overhead.

Learn more on Opportunity costs at:

brainly.com/question/1549591

#SPJ1

6 0
1 year ago
Planning: Assessing Audience Needs [LO-2] For each communication task that follows, write brief answers to three questions: Who
Mice21 [21]

Answer:

a. Audience’s: Appliance producer  

Audience’s general mentality towards subject: The apparatus maker must treat this on need, as lawful results are related with it  

Audience’s has to know: The objective that has occurred in the installment procedure and the purpose for the postponement  

b. Audience’s: Smartphone shoppers and devotees  

Audience’s general mentality towards subject: The customers will pay attention to the promotion on the off chance that they have a prerequisite for a cell phone. The general fans will be worried about the one of a kind highlights of the contribution  

Audience’s has to know: The highlights offered and the cost at which the item will be accessible  

c. Audience’s: Top administration  

Audience’s general disposition towards subject: The top administration must be interested to comprehend the target behind the proposition of combining 4 deals locales into 2  

Audience’s has to know: The target of the proposition and the advantages that the organization may procure from it  

d. Audience’s: Citizens in the area  

Audience’s general demeanor towards subject: The individuals needing such administrations will be energized with the decreased rates. The individuals not having any such prerequisite, won't give it much thought  

Audience’s has to know: The rate in decrease of cost just as the rundown of administrations offered in that cost  

e. Audience’s: Hiring supervisor of organization  

Audience’s general mentality towards subject: The enlisting supervisor will show intrigue on the off chance that he has an opportunity for comparable profile  

Audience’s has to know: The ranges of abilities and skills of the candidate and the properties, which makes him not the same as the others  

f. Audience’: Accounting directors  

Audience’s general demeanor towards subject: The bookkeeping supervisors will esteem the correspondence, as it is very basic for their work  

Audience’ has to know: The administrations offered by the counseling firm and the value charged by them

8 0
3 years ago
2. Damaged batteries need to be placed in an acld-resistant container or tub Immediately.
katrin2010 [14]
The answer is B. Batteries contain sulphuric acid, of the battery is damaged the acid can be corrosive but it’s not toxic too rich, simply dispose of it.
6 0
2 years ago
Read 2 more answers
Macroeconomics, as opposed to microeconomics, includes the study of what determines the level of
yanalaym [24]
It includes the study of <span>employment in the economy.  


A macroeconomic factor is a factor that is relevant to an expansive economy at the provincial or national level and influences a huge populace instead of a couple of select people. Macroeconomic factors, for example, financial yield, joblessness, expansion, reserve funds, and speculation are key pointers of monetary execution and are nearly checked by governments, organizations, and customers.
</span>
4 0
2 years ago
On september 1, knack company signed a $50,000, 90-day, 5% note payable with central savings bank. what is the journal entry tha
shepuryov [24]
<span>The Journal entry upon the 90 days (1/4 using 360 days a year) maturity at 5% rate should be $50,000 plus the Interest (I). Let Journal Entry upon Maturity be J Where J = Initial Signed Note + Initial Signed Note * Rate * Time Which is also written as J = Initial signed Note (1 + Rate * Time) Therefore J = 50,000 (1+5/100*1/4) = 50,625</span>
5 0
3 years ago
Other questions:
  • A machine that costs $20,000 today has annual operating costs of $1,500, $1,600, $1,700 and $1,800 in each of the next four year
    15·1 answer
  • ​a manager is about to make a decision regarding work schedules. he has been with the company for 20 years and has all of the in
    8·1 answer
  • The graph shows a point of equilibrium.
    15·2 answers
  • In the movie 9 to 5​, Maria Delgado worked mornings and her​ sister, who came in a few minutes before Maria​ left, worked the sa
    9·2 answers
  • If 10,000 units which were 50% completed are in process at November 1, 90,000 units were completed during November, and 20,000 w
    5·1 answer
  • Which of the following are true regarding profits, revenues, and costs? Choose one or more: A. total costs = implicit costs + ex
    8·1 answer
  • You are working as a manager of a financial planning office where you require your employees to have a presence on social media.
    13·1 answer
  • g CVP analyses (18 points) MusicWizard, Inc. manufactures and sells trombones with the following price and cost characteristics:
    8·1 answer
  • Imagine that in 2019 the economy is in long-run equilibrium. Then stock prices rise more than expected and stay high for some ti
    5·1 answer
  • Determining who the buyers of subdivision homes are, the market niche to target, and whether to have different price points for
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!