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
lidiya [134]
3 years ago
7

At the end of a full year mary garber had $6248.95 in her saving account. If the rate of interest was 12.253%, how much money di

d Mary have in the bank at the beginning of the year?
Business
1 answer:
allochka39001 [22]3 years ago
4 0

Answer:

$5,566.84

Explanation:

to determine the amount of money that Mary had in her account at the beginning of the year we can use the resent value formula:

present value (PV) = future value (FV) / (1 + interest rate)ⁿ

where:

  • FV = $6,248.95
  • interest rate = 12.253%
  • n = 1

PV = $6,248.95 / (1 + 12.253%) = $6,248.95 / 1.12253 = $5,566.84

You might be interested in
Rule-of-thumb budgeting is budgeting that's popular with the hospitality and tourism industry because it's so effective.
a_sh-v [17]
I think the answer is false

:):):):):):):)
7 0
2 years ago
Which of the following is NOT one of the four characteristics of IPOs that puzzle financial economists? Select one: a. The long-
Serhud [2]

Answer:

A

Explanation:

IPO , a synonym for initial public offering is a process of offering to the public new stock issuance through an underwriter.

IPO comes with a lot of benefit , nevertheless financial economist  have some concern about it .

Of all the options given in the question , the long run of a new public company , (three to five years from the date of issue) being superior to the overall market returns is the only exception

7 0
3 years ago
g Depreciation refers to which one of the following? The amount of money that is lost over a period when services are underutili
Ganezh [65]

Answer:

The answer is D

Explanation:

Depreciation is best described as An estimate of how much of a tangible asset has been used during an accounting period: considered an expense that does not require any cash outflow under the accrual basis accounting.

Depreciation reduces the value of an asset and it reduces it over the life span of an asset. Depreciation is a non cash reduction. Depreciation tells us how much the value of an asset has reduced.

The formula is (cost of the asset - any residual value) ÷ the number of useful life span

6 0
3 years ago
When do many companies expect to have a net loss
Korolek [52]
When outflow exceeds income.
6 0
3 years ago
What is the interest rate for initial investment of $100,000 to grow $300,000 in 10 years
dybincka [34]

Answer:

r=20% or 0.2 %

Calculation:

Solving equation:

r = (1/10)((300000/100000) - 1) = 0.2

r = 0.2

Converting r decimal to R a percentage

R = 0.2 * 100 = 20%/year

The interest rate required to get a total amount, principal plus interest, of $300,000.00 from simple interest on a principal of $100,000.00 over 10 years is 20% per year.

6 0
3 years ago
Read 2 more answers
Other questions:
  • Your financial institution can’t help you if there is a mistake on your bank account statement ?
    5·2 answers
  • Jessica spends all her income on two goods, A and B. The price of A is $5, and the price of B is $7. At the current consumption
    7·1 answer
  • For which persons may a taxpayer deduct medical expenses?
    13·1 answer
  • Suppose that Xtel is currently selling at $50/share. You buy 700 shares using $28,000 of your own money, borrowing the remainder
    7·2 answers
  • Vertical integration is a strategy in which a company expands backwards into an industry that provides outputs for its products.
    11·1 answer
  • Harding Company expected sales to be 50,000 units in February, 45,000 in March, and 55,000 units in April. Each unit sells for $
    13·1 answer
  • Accounting practice in the United States follows the generally accepted accounting principles (GAAP) developed by the Financial
    6·1 answer
  • Suppose a bank has​ $100 million in checking account deposits with no excess reserves and the required reserve ratio is 10 perce
    14·1 answer
  • The financial statements for Castile Products, Inc., are given below:
    8·1 answer
  • "Jack owns a local trucking company. With fuel costs being expensive, Jack wants to evaluate how much fuel, on average, he shoul
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!