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kari74 [83]
3 years ago
15

David saves money from his teaching job to buy a new boat when he retires in 20 years. The boat will cost $30,000. He has $12,00

0 in his simple interest savings account. To reach his goal by retirement, David should ________.
Business
1 answer:
Aliun [14]3 years ago
6 0

Answer:

Invest at a minimum of 7.5% annual simple interest

Explanation:

Given the goal of purchasing a boat that will cost $30,000 in 20 years, David needs to earn an interest computed below on his investment in the savings account.

Interest required = 30,000 - 12,000

= 18,000

Therefore the minimum rate of interest that will achieve this goal,

= Principal * rate * time = target amount

= 12,000 * R * 20 years = 18,000

= R = 18,000/(12,000*20) = 0.075 = 7.5%.

In addition, David could also continue his saving from his teaching job. This will reduce the minimum investment return required to achieve the goal.

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The  answer is $120.

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1 year ago
When shopping for the best buy in a home theater system the sales representative informs Siddhartha that the more expensive mode
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boost frequencies below 80 Hz

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The frequency of a repeated event is its number of instances per unit of time. In some cases, it is also referred to as temporal frequency or ordinary frequency to underline differences with spatial and angular frequencies, respectively. One (event) per second is equal to one hertz (Hz), which is how frequency is stated. The period is the reciprocal of the frequency since it is the length of time for one cycle in a repeating occurrence. For instance, the period, T—the space between beats—of a heart beating at a frequency of 120 beats per minute (2 hertz), is equal to 0.5 seconds (60 seconds divided by 120 beats).

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The Two Sisters has a return on assets of 9 percent and a dividend payout ratio of 75 percent. What is the internal growth rate
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hope this helps.

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3 years ago
After making a sale, a seller may have customers that return goods. The seller uses the perpetual inventory system. This require
anyanavicka [17]

Answer:

D. All of the statements are correct.

Explanation:

The Seller requires to

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After the estimation of values record the adjusting transaction for the estimated return liability and the inventory to be returna as well.

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2 years ago
For a given company, total assets are $260,000, current liabilities are $10,000, long-term liabilities are $60,000, common stock
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