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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

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Javier is currently paying ​$1 comma 200 in interest on his credit cards annually.​ If, instead of paying​ interest, he saved th
Cloud [144]

Answer:

after 9 years:

FV $15,625.2437

in 14 years:

FV $31,223.0270

last, at the nineteenth year:

FV $55,222.1501

Explanation:

We have to solve for the annuity of 1,200 dollar with a yield of 9% at the proposed times:

C \times \frac{(1+r)^{time}-1 }{rate} = FV\\

C 1,200.00

time 9

rate 0.09

1200 \times \frac{(1+0.09)^{9} -1}{0.09} = FV\\

FV $15,625.2437

time = 14

1200 \times \frac{(1+0.09)^{14}-1 }{0.09} = FV\\

FV $31,223.0270

time = 19

1200 \times \frac{(1+0.09)^{19} -1}{0.09} = FV\\

FV $55,222.1501

8 0
3 years ago
what are the consequences of poor management to: employees, customers, suppliers, government, and society?​
Llana [10]

Answer:

Poor management can affect the company's budget, employee turnover and overall profits. Finally, a decrease in productivity and morale are signs employees may be struggling with the leadership being given. If employees have an effective leader their task performance will continue to soar

Explanation:

Hope it helps

7 0
3 years ago
The price of crude oil increases 50%. This will cause a change in ( supply/ quality supplied )
Paladinen [302]

Answer:

See below

Explanation:

A price increase motivates suppliers to avail more products for sale in the markets. High prices tend to have a high margin hence more profits. Like other businesses, oil producers are profit-motivated; they will supply more quantities if there is a high probability of making more profits.

The law of supply explains the correlation between supply and price. As prices increase, supply also tends to increase.

5 0
3 years ago
Larry Bar opened a frame shop and completed these transactions:1. Larry started the shop by investing $40,800 cash and equipment
natita [175]

Answer:

$44,100

Explanation:

Larry Bar

Investment in Cash - Receptionist's salary+Sales of custom frame = Cash account balance

Investment in Cash $40,800

Paid $2,000 Receptionist's salary $2,000

Sales of custom frame $5,300

Hence:

$40,800-$2,000+$5,300

=$44,100

Cash account balance will be $44,100

6 0
3 years ago
A company that has been subject to Securities Exchange Act of 1934 reporting requirements for five years and has an aggregate wo
pickupchik [31]

accelerated filer, A company reporting requirements for five years and has an aggregate worldwide market cap of $300 million is an accelerated filer.

More about accelerated filer?

A publicly traded company that, as of the end of its fiscal year, satisfies each of the following requirements:

  • As of the final business day of the company's most recent completed second fiscal quarter, the total worldwide market value of the voting and non-voting common equity held by its non-affiliates (or public float) was $75 million or more but less than $700 million.
  • For at least 12 months, the company has been required to report in accordance with Sections 13(a) or 15(d) of the Exchange Act.
  • The business has previously submitted at least one annual report in accordance with Exchange Act Sections 13(a) or 15(d).
  • The company does not meet the revenue requirements (which include those listed below), so it is not eligible for smaller reporting company status.

Learn more about accelerated filer here: brainly.com/question/14855960

#SPJ4

7 0
2 years ago
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