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Natali5045456 [20]
3 years ago
14

In an attempt to have funds for a down payment, Jan Carlson plans to save $3,700 a year for the next five years. With an interes

t rate of 6 percent, what amount will Jan have available for a down payment after the five years?
Business
1 answer:
Sveta_85 [38]3 years ago
7 0

Answer:

$20,857.24

Explanation:

This is an ordinary annuity question which can be solved using a financial calculator. The inputs are as follows;

Total duration of investment; N = 5

Interest rate per year; I/Y = 6%

Recurring annual payment;  PMT = 3,700

One time cashflow; PV = 0

then compute the future value of the annuity; CPT FV = 20,857.244

Therefore, Jan will have $20,857.24 as down payment in 5 years.

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Why does Staples participate in Anti-Money Laundering Compliance?
Temka [501]

The main reason why Staples participates in <em>Anti-Money Laundering Compliance </em>is to prevent illegal activity and terrorism

Based on the given question, we can see that money laundering is a federal offense which is punishable by law and is aimed at preventing money fraud whereby large sums of (illegal) money are <em>moved </em>from one place to another, usually to finance other illegal activities.

With this in mind, Staples which is a US Online Store which sells business essentials such as computers, printing services, etc engage in the <em>Anti-Money Laundering Compliance</em> so as to prevent illegal activity and terrorism

Therefore, the correct answer is option B

Read more about money laundering here:

brainly.com/question/2588568

4 0
3 years ago
What is one characteristic of a hybrid ARM loan?
marta [7]

Answer:

Hybrid ARMs

A hybrid ARM features an interest rate that is fixed for an initial period of time, then floats thereafter. The "hybrid" refers to the ARM's blend of fixed-rate and adjustable-rate characteristics.

Explanation:

3 0
3 years ago
How many start-up businesses are created each year
Lyrx [107]
About 543,000 businesses start each month
So, 543,000x12
About 6,516,000 businesses start each year
3 0
4 years ago
Read 2 more answers
What is the difference between financial and managerial accounting ?
horrorfan [7]

Answer:

Financial accounting refer to the financial statement while, managerial is more focus into internal reports

In details, the most difference are as follows:

Aggregation.

Financing reports on the complete firm. While Managerial; at product, division or customer level.

Proven information.

Financing require certain criteria to ensure precision. It need to prove correct to third parties. While Managerial uses budget, forecast and estimated values.

Reporting focus.

Financial accounting is oriented toward outside

Managerial accounting analysis stays within a company.

Legislation:

Financial accounting faces the GAAP, IFRS and heavy legislation.

Managerial accounting doesn't

Time period.

Financial accounting has a historical orientation their reports are resumes of past transactions and operations.

Managerial accounting has a future orientation.

Timing.

Financial Statement are done at end of an accounting period.

Managerial accounting issues on demand of the board or supervisor.

8 0
4 years ago
Alejandro Yago leased a Jeep for $209.00 per month for 60 months.He paid a deposit of $850.00, a title fee of $45.00, and a lice
kenny6666 [7]

Answer:

$ 14,267.88  

Explanation:

The total cost of leasing the jeep will be

Title fee :  = $45.00

License fee:  =$60.00

Monthly fees:  $209.00 x 60 = $12,540

charges for miles above 60,000 miles (73,524 -60,000)

=$0.12 x  13524

=$1,622.88  

Total cost = $45 +$60 + $12,540, + $1,622.88

Total cost = $ 14,267.88  

3 0
3 years ago
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