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
Artist 52 [7]
3 years ago
9

You plan to go to Asia to visit friends in three years. The trip is expected to cost a total of $10,000 at that time. Your paren

ts have deposited $5,000 for you in a Certificate of Deposit paying 6% interest annually,maturing three years from now. Uncle Lee has agreed to pay for all remaining expenses. If you are going to put Uncle Lee's gift in an investment earning 10% over the next three years, how much must he deposit today, so you can visit your friends three years from today?
A. $3,039
B. $3,345
C. $5,801
D. $3,757
Business
1 answer:
zloy xaker [14]3 years ago
8 0

Answer:

A) $3,039

Explanation:

Total cost of trip= $10,000

Parent deposited $5,000 at 6% maturing 3 years.

Find the future value of parents deposit.

FV= PV×(1+i)^n

FV=future value

PV= present value= $5,000

I= interest rate=6%

n= no.of years = 3

FV= PV×(1+i)^n

= $5,000×(1+0.06)^3

=$5,000×(1.06)^3

= $5,000×1.191016

=$5,955.08

Balance=$10,000-$5,955.08

=$4,044.92

Uncle Lee agreed to pay for the remaining which is $4,044.92

Calculate uncle Lee's gift of 10% investment for 3 years

FV=PV×(1+i)^n

PV=FV/(1+i)^n

PV=$4,044.92/(1+0.10)^3

=$4,044.92/(1.10)^3

=$4,044.92/1.331

=$3,039.00826

Approximately $3,039

You might be interested in
Roger wants to show the chronological steps in the process of applying for college grant. which type of visual aid would work be
stira [4]
I believe it would be a numbered list
5 0
3 years ago
At the best answer for the question
Alex Ar [27]

Answer:

The correct answer is D. Retail.

Explanation:

Retail is the sale to the final consumer of goods and services. It is a sector formed by different branches (such as the food industry, the fashion industry, the home industry, etc.), which constitutes the last link in the supply chain that goes from the manufacturer to the consumer, it is In other words, it is the culmination of the process of production of goods and services, when they reach the consumer. This sale is usually carried out in stores, supermarkets, pharmacies, internet platforms and any other place where goods and services can be offered to final recipients.

5 0
2 years ago
What is the value today of $4,400 per year, at a discount rate of 8.3 percent, if the first payment is received 6 years from tod
Pepsi [2]

Answer:

Present Value = $290.20

Explanation:

The present value of a future payment can be calculated with the following formula:

PV = FV / (1 + i)N

Where i is the annual interest rate or discount rate, and t is the number of years until the payment will be received.

PV = Present Value = ?

FV = Payment = $4,400

i = 8.3% = 0.083

N = 20 - 6 = 14

PV = $4400 / (1 + 0.083)(20 - 6)

PV = $4400 / (1.083 * 14)

PV = $4400 / 15.162

PV = $290.1992

Present Value = $290.20 (Approximated)

4 0
3 years ago
Ocean sediment cores provide a climate record for the past ________ years.
MrMuchimi

Ocean sediment core provides a climate record of the past 70 million years.

1880 is the reliable global record which we can say the climate began. Proxies(climate) helps the scientists to determine the climatic patterns even before starting record-keeping.

Some examples of proxies are sub-fossil pollen, lake and ocean sediments, tree rings, and ice cores. Climatic of the time influenced the growth rate of proxies material. It is from proxies where we can recover quantities of particular isotopes from climatic changes.

The combination of proxies can produce temperature reconstruction which is longer the instrumental temperature.

5 0
3 years ago
Read 2 more answers
David is a drug rep for a pharmaceutical company. He is in the process of prospecting at various medical offices to see who migh
xenn [34]

Answer:

determine purchase authority

Explanation:

Based on the scenario being described within the question it can be said that David was not successful because he forgot to determine purchase authority. In other words he gave the presentation to someone (the receptionist) that does not have any authority to make purchases for the company and is why he was unsuccessful. David needed to find the individual in charge of buying the pharmaceuticals for the company and give him the presentation.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Ron shaich and his management team decided that after a period of expansion, perhaps some of the companies they had acquired or
    5·2 answers
  • The _____ serves as the jfc's principal organization to draft the commander's information dissemination policy and coordinates i
    13·1 answer
  • Dawn grew up helping her father work on cars in his auto repair shop and developed into an excellent auto technician. Because of
    14·1 answer
  • If a business hires employees to perform different, highly specialized jobs,
    8·1 answer
  • Sherry is known for being very task oriented in her approach to manage subordinates. Which at the following statement is noot li
    10·1 answer
  • Comfy Fit Company manufactures two types of university sweatshirts, the Swoop and the Rufus, with unit contribution margins of $
    6·1 answer
  • Suppose the market for hamburgers is unregulated. That is, hamburger prices are free to adjust based on the forces of supply and
    11·1 answer
  • Enith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts P
    7·1 answer
  • What was the growth rate of per capita income in india on the eve of independence.
    13·1 answer
  • What happens to the equilibrium price and quantity when demand increases and at the same time supply decreases, but the demand s
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!