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Gre4nikov [31]
3 years ago
5

Rodney invests​ $2,400 today, compounded​ monthly, with an annual interest rate of​ 6.25%. What is​ Rodney's investment worth in

one​ year?A.​$2,515.66B.​$2,554.37C.​$2,503.57D.​$2,532.00
Business
1 answer:
Zina [86]3 years ago
7 0

Answer:

B. $2,554.37

Explanation:

In this question we use the Future value formula which is shown below:

Future value = Present value × (1 + rate)^number of years

where,

Present value = $2,400

Rate = 0.625 ÷ 12 = 0.0052083333

Number of years = 1 month × 12 months = 12

So, the future value

= $2,400 × (1 + 0.0052083333 )^12

= $,2,400 × 1.0643218146  

= $2,554.37

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4 years ago
Real per capita GDP in Taiwan in 1961 was about $500, but it doubled to about $1000.00 by 1981. a. What was the average annual e
aliya0001 [1]

Answer:

the average annual economic growth rate in Taiwan from 1961 to 1981 was 41.42%

Explanation:

Hi, we need to use the following formula.

FV=PV(1+r)^{t}

Where:

FV = GDP in 1981 ($1,000)

PV = GDP in 1961 ($500)

r = growth rate

t = years from 1981 to 1961 (20 years)

So, it should look like this:

1,000=500(1+r)^{20}

Now, we solve for "r"

\frac{1,000}{500} =(1+r)^{20}

2=(1+r)^{20}

\sqrt[20]{2} -1=r

r=0.4142

So, the growth rate of Taiwan´s GDP is 41.42%

Best of luck.

5 0
3 years ago
Suppose a common resourcelong dash—wood in a public forestlong dash—is being overused because residents consider the benefits of
sdas [7]

the answer is: the community could establish norms or even common laws that limits deforestation.

Most people would not fear of conducting a certain thing if there is not negative impact that they can feel after doing it. Establishing social pressure or common laws for people who conducting deforestation could make them either feel guilty or fear. Both can be effective in limiting the number of deforestation.

8 0
4 years ago
The Beckham Company has the following information about their activity cost pools: Activity Cost Pools Total Overhead Cost Total
LenaWriter [7]

Answer:

$25 per setup

Explanation:

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5 0
3 years ago
Product bundling refers to:
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Product bundling refers to: a complete package of related products.
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3 years ago
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