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
Assume that the reserve requirement for demand deposits is 20 percent, that banks hold no excess reserves, and that the public h
Slav-nsk [51]

Answer:

The right solution is "decrease by $50,000". A further explanation is description if provided below.

Explanation:

The given values:

Sell amount,

= 10,000

Reserve ratio,

= 20%

i.e.,

= 0.2

Now,

The decrease in money supply will be:

=  \frac{Sell \ amount}{Reserve \ ratio}

On substituting the values, we get

=  \frac{10000}{0.2}

=  50,000 ($)

8 0
3 years ago
Which of the following statements is correct? Marginal utility is the sum of total utility. Total utility is the sum of marginal
klemol [59]

Answer:

Total utility is the sum of marginal utilities .

Explanation:

In the economy, utility is a measure of relative satisfaction. In other terms, it is a term that refers to the total satisfaction that a consumer experiences when consuming a good or service. Given this measure, one can speak of increasing or decreasing utility in a meaningful way and thus explain economic behavior in terms of attempts by the economic agent to increase his or her utility. Utility is often modeled as a unit influenced by the consumption of various goods and services, the possession of wealth and the enjoyment of free time.  Total utility, therefore, is the sum of all the marginal utilities that compose the total accumulation of consumption of the individual.

8 0
3 years ago
Read 2 more answers
Maria Peron's company treats the world, including the home market in Spain, as one market. Market segmentation decisions no long
Veseljchak [2.6K]

Answer:

The correct answer is letter "E": Global marketing.

Explanation:

Global marketing refers to all the efforts a company males to promote its goods or services across its original borders. It allows firms to widen their possibilities of making more profits and reduces the risk of relying on domestic consumption only. Businesses with global marketing view tend to adapt their products to the different regions of operations or provide the most standardized version of their original good.

5 0
4 years ago
when comparing two alternative concepts to provide needed warfighting capabilities you discover that the life cycle cost of both
Kipish [7]

Answer:

Alternative 1

Explanation:

We will choose the alternative one because it takes only five years to demonstrate the draft capability development document, and it uses advanced technology demonstrations. On the other hand, we can not choose alternative two because it will take three more years from alternative one to demonstrate the draft CDD.

7 0
4 years ago
Shopeazy inc. operates a chain of supermarkets. the managers and employees of the company have been on strike for months due to
BartSMP [9]

Answer:

In this scenario, Zeltro Investments can be best categorized a "corporate raider".

Explanation:

A corporate raider refers to a person who is an investor and purchases an expansive number of offers in any organization or corporation and the value of the assets of that corporation is not high. Corporate raiders can use different methods to take on changes, for example they can use their power to cast a vote.

5 0
3 years ago
Other questions:
  • Start a conversation with me and you get points plus brainliest
    8·2 answers
  • What problem will result from even slightly higher global temperatures?
    6·1 answer
  • Select all the guidelines you should follow when changing the format of a spreadsheet.
    6·2 answers
  • Excerpts from Dowling Company's December 31, 2018 and 2017, financial statements and key ratios are presented below (all numbers
    8·1 answer
  • Which of the following would be an example of direct finance? Group of answer choices A saver deposits money into a credit union
    7·1 answer
  • XYZ Company recorded the following information related to their inventory accounts for 2020: January 1, 2020 December 31, 2020 D
    14·1 answer
  • Suppose compensation is given by W = 512,000 + 217π + 10.08S, where W = total compensation of the CEO, π = company profits (in m
    14·1 answer
  • Bruce is a single father with 1 child. He can work as a bagger at the local grocery store for $7 per hour up to 1,200 hours per
    10·1 answer
  • PLEASE HELP ASAP!! CORRECT ANSWER ONLY PLEASE!!!
    12·1 answer
  • Which examples best demonstrate likely tasks for Manufacturing Production Process Development workers? Check all that apply.
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!