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
motikmotik
3 years ago
13

Megan Brink is offered the possibility of investing $6,651 today at 6% interest per year in a desire to accumulate $10,000.

Business
1 answer:
lapo4ka [179]3 years ago
5 0

Answer:

7 years.

Explanation:

We know,

Future value = Present Value × (1 + i)^{n}

Given,

Future Value, FV = $10,000

Present Value, PV = $6,651

Interest rate, i = 6% = 0.06

We have to determine how many years to acquire $10,000 in the future.

Now, $10,000 = $6,651 × (1 + 0.06)^{n}

or, $(10,000 ÷ 6,651) = 1.06^{n}

or, 1.5035 = 1.06^{n}

or, Log 1.5035 = n log 1.06

Using the calculator to find the value of log.

0.1771 = n × 0.0253

or, n = 0.1771 ÷ 0.0253

or, n = 7 years

7 years will be needed to acquire $10,000 in the future.

You might be interested in
A department head at a university resigned on the first day of the spring semester. It was subsequently determined that the depa
aliya0001 [1]

Answer:

Off boarding

Explanation:

Off boarding: It is also known as "employee exit management". It is the formal separation between an employee and a company through resignation, termination, or retirement.

It is the process in which an employee leaves the company, for which they have previously worked within the scope of a work or service contract.

Off boarding is the formal processes which revolves round an employee's exit from an organization through voluntary resignation, layoffs or termination.

It includes all decision that takes place following the exit of an employee. The off boarding process includes revoking the employees access to organization's data and finding a replacement for the employee.

7 0
3 years ago
The subject has $8,000 pool and a $2,000 chimney but no porch. a comparable that sold for $199,000 has a $3,000 porch but no poo
Pavel [41]
<span>If the comp sold for $199,000 but includes a $3000 porch and the subject has no porch, then we subtract the value of the porch to yield a base for the comparable of $196,000. Then, since the comparable has no pool or chimney, we add these values - $8,000 and $2,000, respectively - to that base value to yield an adjusted value of $196,000 + $8,000 + $2,000 = $206,000.</span>
5 0
4 years ago
Which of the following is not an economic goal that influences how societies answer the three key economic questions?
Nadya [2.5K]

I believe the answer is: D. patriotism


Patriotism is the act of showing vigorous support to our own country . The support that shown in patriotism does not revolve around financial decision, but more to how our country is perceived in its foreign nation relative to the other countries.

5 0
3 years ago
Read 2 more answers
You own a portfolio that is 34 percent invested in Stock X, 22 percent invested in Stock Y, and 44 percent invested in Stock Z.
Sonja [21]

Answer:

13.86%

Explanation:

34% was invested into stock X with an expected return of 11%

22% was invested into stock Y with an expected return of 18%

44% was invested into stock Z with an expected return of 14%

The expected return on the portfolio can be calculated using the formula below

Expected return= Sum of ( weight of stock×return of stock)

= (0.34×11%)+(0.22×18%)+(0.44×14%)

= 3.74+3.96+6.16

= 13.86%

Hence the expected return on the portfolio is 13.86%

5 0
3 years ago
Consider the market for portable air conditioners in equilibrium. A summer of unseasonably cool weather would cause:
RSB [31]
C.

First consider the effects on demand and supply. What will occr is that demand will decrease and the curve will shift to the left. As a result, if you draw the diagram out, equilibrium price and quantity will decrease.
4 0
4 years ago
Read 2 more answers
Other questions:
  • Aide Industries is a division of a major corporation. Data concerning the most recent year appears below: Sales $17,810,000 Net
    11·1 answer
  • Managerial accounting information is generally prepared for
    7·1 answer
  • Lori, a self-employed pediatrician, currently earns $200,000 annually. Lori has been able to save 15%of her annual Schedule C ne
    10·1 answer
  • The likelihood of a risk event occurring during the implementation of a project goes up as the project progresses. The cost impa
    13·1 answer
  • g"Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, a
    9·1 answer
  • Judy Billows, owner of Billows Manufacturing has called a meeting with her department heads. She presents last year's contributi
    9·2 answers
  • When modeling the right to develop an oil property as a real option, and in the presence of fixed costs, using oil price volatil
    15·1 answer
  • Norwall Company’s budgeted variable manufacturing overhead cost is $3.00 per machine-hour and its budgeted fixed manufacturing o
    7·1 answer
  • Being around positive people will tend to make you more positive. Please select the best answer from the choices provided T F
    10·2 answers
  • explain the social and psychological factors that influence the buying patterns of customers in business
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!