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MAVERICK [17]
3 years ago
8

Joe wants to be able to purchase a dream car on January 1,2004, just after he graduates from college. Joe has had a part time jo

b and started making deposits of $450 each month into an account that pays 21% compounded monthly beginning with the first deposit on February 1, 1999. The last deposit is to be made on January 1, 2004. Determine how much money he would have saved to buy the car.
Business
1 answer:
Bad White [126]3 years ago
5 0

Answer:

FV= $46,031.45

Explanation:

Giving the following information:

Monthly deposit= $450

Number of months= 59

Interest rate= 0.21/12= 0.0175

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

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

FV= {450*[(1.0175^59) - 1]} / 0.0175 + 450

FV= $46,031.45

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As part of thinking about the _____, managers track the Consumer Price Index, manufacturing and retail inventory levels, and con
lana [24]

Answer:

Economic Dimension

Explanation:

Economic dimension implies that the effect of economic factors on a particular circumstance which a company faces are taking into consideration while making a decision.

In the question, the three economic factors mentioned to be considered by the company as part of the economic dimension are Consumer Price Index, manufacturing and retail inventory levels, and consumer confidence measures.

The Consumer Price Index (CPI) measures the weighted average of prices of a basket of commodities like cloth, food, transportation, etc. This is calculated as average of the changes in prices of the chosen basket of goods and services.

Manufacturing inventory are raw material or work-in-progress items kept in stock to produce goods, while retail inventory are the finished goods kept in stock to be sold.

Consumer confidence measure can also be referred to as the Consumer Confidence Index (CCI) and it is the level of assurance which consumers display about general economic condition in a country through the way they spend or save.

How a company monitor and prepare for each of the three factors will determine its success or failure.

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2 years ago
U.S. sugar import quotas have existed for more than 50 years and preserve about half of the U.S. sugar market for domestic produ
docker41 [41]

Answer:

United States continue to have quotas because it increases the price of imported Sugar and thereby reducing the quantity demanded.

Explanation:

To start with, quotas is a restriction imposed by a government. Quotas limits the quantity of a good that can be imported into a country during a specific period of time. In this question, an import license specifies the quantity of Sugar that be brought into (imported) the USA.

United States continue to have these quotas because import quotas reduces the supply of imported goods (Sugar), thereby, preventing an uncontrolled importation of Sugar. This raises the price of imported Sugar against the price of locally produced Sugar which is lower in price. Intuitively, consumers will go for lower price (locally produced Sugar) which satisfies the law of demand for normal goods.

Therefore, it helps the domestic producers to stay in the competition.

3 0
2 years ago
Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the la
harina [27]

Answer:

a. Finance Bank

Explanation:

According to Statute of Fraud, the agreement must be in writing to be within the statute and enforceable.  The oral contracts are usually enforceable but the transfer of land needs to be in writing to be enforceable according to law of Statute of Fraud. If the contract is in writing it would be adequate to be enforceable. While the contract with bank must have some written form which will make it enforceable contract by the finance bank.

8 0
2 years ago
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Constructive criticism means:
MrRissso [65]
Feedback with the intention to help by listing reasonable arguements
8 0
3 years ago
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Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. the bank has approved cassidy’s loan at a fixed
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Cassidy's approximate monthly payment stands at $1420. if Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.

<h3>What is the payment monthly?</h3>

The monthly payment is the quantity paid per month to pay off the loan in the time period of the loan. When a loan is taken out it isn't only the top amount, or the original payment loaned out, that needs to be repaid, but also the good that accumulates.

<h3>What is a loan amortization schedule?</h3>

It is described as the systematic method of representing loan payments according to the time in which the principal amount and interest exist mentioned in a list manner

It is given that:

  • Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.
  • A fixed annual interest rate of 2.7% compounded monthly for 15 years.

The formula is:

P=F_{P} (i)/1-(1+i)^{-1}

Plug all the values in the above formula:

P=210000(2.7/12)/1-(1+(2.7/12)^{-15*12}

$1420.

Hence,

Cassidy's approximate monthly payment stands at $1420.

To learn more about monthly payment, refer

brainly.com/question/2151013

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