Answer:
$40,133.63
Explanation:
we can use the future value formula:
future value = present value x (1 + interest rate)ⁿ
- present value = $15,555
- interest rate = 14.5%
- n = 7 years
future value = $15,555 x (1 + 14.5%)⁷ = $15,555 x 1.145⁷ = $15,555 x 2.580111097 = $40,133.63
Answer:
five years
A regular and normal architecture program would typically take up to 5 years to complete. The answer is five years. Hope it helps!
Answer:
A need is something you can live without. a want is something you would like to have. is what you give up when making a financial decision.
Explanation:
Answer
Miguel must set aside $62,745 annually
Explanation
N = Number of years till Miguel would retire = 43 years
FV = Future Value = $1,000,000
r = Interest rate = 10%
PMT = Annual payments (at the ending of the year) = ?? The question asks us to calculate this
We would use the future value ordinary annuity formula to calculate PMT
FV = PMT
1000000 = PMT
PMT ≅ $62,745
Miguel must set aside $62,745 annually
Answer:
Fund Transfers, online bill payments, customer service, financial advisory
Explanation:
1. Funds Transfer: The fund transfer activity is by far the most celebrated internet banking activity. People can send money to friends and family by accessing their accounts on the internet. The major advantage of this method is that it can be done even after banking hours.
2. Online Bill Payments: People no longer need to drive long distances and stand on intimidating queues to pay bills and renew licenses, such activities can be carried out online.
3. Customer Services: A large number of customer complaints and queries are now been resolved online without having to physically enter the banks.
4. Financial Advisory: Issues about investments types and duration are being discussed and in some cases finalized online.