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
Pani-rosa [81]
3 years ago
13

16. Suppose you decided to place $2,500 in a savings account at First Foremost Savings and Loan. If the account pays 7% compound

ed continuously, how much money will you have in the account after 15 years
Business
1 answer:
nlexa [21]3 years ago
3 0

Answer:

Final Value= $7,144.13

Explanation:

Giving the following information:

Suppose you decided to place $2,500 in a savings account at First Foremost Savings and Loan. The account pays 7% compounded continuously.

Number of years= 15

<u>Because it is compound continuously, we need to use the mathematical constant e.</u>

To calculate the final value, we need to use the following formula:

FV= PV*[e^(i*n)]

FV= 2,500*[e^(0.07*15)]

FV= 2,500*(e^1.05)

FV= $7,144.13

You might be interested in
The crisis experienced in the workplace.
erik [133]

Answer:

were is tha picture i can answer that if don't have pictures

5 0
2 years ago
Read 2 more answers
Describe an example of your leadership experience in which you have positively influenced others, helped resolve disputes or con
just olya [345]

An example of a leadership experience where I positively influenced others was when I inspired my friends to have better grades.

Leadership simply means the ability of an individual to be able to guide and motivate the members of an organization. A good leader brings out the best in others.

An example of a leadership experience where I positively influenced others was when I inspired my friends to have better grades.

My friends were having trouble with Mathematics. They always complained that it was tough. I told them that they should believe in themselves. I motivated them and they achieved higher grades.

Read related link on:

brainly.com/question/25773902

6 0
3 years ago
A(n) _______ is an arrangement in which a third party promises to be secondarily liable for the payment of another's debt.
Gre4nikov [31]
A. guaranty arrangement
The third party is providing a guarantee that the lender will recover the debt regardless of the borrower's reputation to pay.
3 0
3 years ago
Which is the best strategy for improving an essay that contains too many short sentences?
Airida [17]
By using words like "and, but, and or" you can connect two sentences or thoughts.
8 0
3 years ago
Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2021. Information for 2021 and 2022 is as follows,
Minchanka [31]

The LIFO method is used to calculate the precent of retail and Current cost to retail % is 67 percent.

<u>Explanation:</u>

Ending inventory at retail as on 12/31/2022 converted to cost = 50600 by1.1 = 46000

Inventory as on 12/31/2021 converted to cost = 42400 by 1.06 = 40000

Inventory added during 2021 = 40,000 minus 30,000 = 10,000

Inventory added during 2022 = 46000  minus 40000= 6000

Inventory layers at base year retail prices:

Beginning inventory = 30000 into 1 into 70% = 21000

Layers added during 2021 = 10000 into 1.06 into 80% = 8480

Layers added during 2022 =6000 into 1.1 into 67% = 4422

Inventory as on 31/12/2022 at cost = 21000 plus 8480 plus 4422 = 33902

Therefore, Current cost to retail % = 66330 by 99000 = 67%

4 0
4 years ago
Other questions:
  • The WorldLight Company produces two light fixtures (products 1 and 2) that require both metal frame parts and electrical compone
    15·1 answer
  • The competitive strategy model formulated by porter states that firms respond to the analysis of their industry by selecting one
    15·1 answer
  • Your company, Johnson Farm Products, has decided to expand its traditional business serving farm owners in order to include home
    11·1 answer
  • What is a major difference between retail banks and credit unions?
    6·2 answers
  • Christopher is looking at a lighted sign on which a rapid succession of a row of lit bulbs appears as a "moving" arrow pointing
    12·1 answer
  • In a repo transaction (or repurchase agreement), the one "buying" the collateral asset (with the promise of selling it back soon
    7·1 answer
  • Explain time and space
    8·2 answers
  • Macroeconomics is best defined as the study of
    5·1 answer
  • Which of these events would indicate a movement along a supply curve for batteries? (SSEMI22
    15·1 answer
  • The process of identifying individuals or companies who may need the selling firm's products or services is known as?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!