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djyliett [7]
3 years ago
11

Suppose you can afford to invest $1,000 each month into an account that pays 15% per year. How many years will you need to make

this monthly investment for your account to be worth $2,000,000?
Business
1 answer:
myrzilka [38]3 years ago
6 0

Answer:

Explanation:

Rate per period =15% = 15/12 monthly

Payment(PMT)=$1,000

Future amaount(FV)=$2,000,000

N(years)=?

If input this data into fin calculator, n= 262.27months=262.27/12years=21.86years

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mote1985 [20]

Answer:

Chronic pain

Explanation:

4 0
3 years ago
Interest earned on both the initial principal and the interest reinvested from prior periods is called _______.
scZoUnD [109]

Answer:

<em> </em><em>interest </em><em>earned</em><em> </em><em>on </em><em>both</em><em> </em><em>the </em><em>initial</em><em> </em><em>principal</em><em> </em><em>and </em><em>the </em><em>interest </em><em>reinvested </em><em>from </em><em>prior </em><em>periods </em><em>is </em><em>called </em><em><u>compound</u></em><em><u> </u></em><em><u>interest</u></em><em><u>.</u></em>

________________________________

<em>Compound </em><em>interest</em><em>.</em><em> </em><em>The </em><em>interest</em><em> </em><em>which </em><em>is </em><em>added </em><em>on </em><em>to </em><em>the </em><em>initial</em><em> </em><em>investment</em><em>,</em><em> </em><em>so </em><em>that</em><em> </em><em>this </em><em>will </em><em>itself</em><em> </em><em>gain </em><em>interest </em><em>in </em><em>subsequent</em><em> </em><em>perio</em><em>d</em><em>s.</em>

7 0
2 years ago
What does CPI stand for and what is it used to measure?​
aleksklad [387]

Answer:

please give me brainlist and follow

Explanation:

Consumer Price Index

The Consumer Price Index (CPI) is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services.

8 0
2 years ago
Switching costs, the number of buyers, and if the items represent a relatively small portion of the cost of finished products ar
Murrr4er [49]

Switching costs, number of buyers, and if the items represent a relatively small portion of the cost of finished products are key considerations regarding the bargaining power of buyers.

Switching costs are the costs which are paid by a consumer as a result of switching brands, suppliers, or products. Some companies may employ high switching costs in order to prevent customers from moving to another brand.

Suppose if the customer purchases large volumes of standardized products from the seller, then the buyer's bargaining power is quite high.  Also, when substitute of a product is available in the market, the buyer power increases.

Hence, most prevailing switching costs are monetary in nature.

To learn more about switching costs here:

brainly.com/question/15561738

#SPJ4

7 0
1 year ago
The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: Inventory that had cost $15,000 w
finlep [7]

Answer: See explanation

Explanation:

a. Sales = $27000

Less: sales returned = -$660

Less: discount at 2% = ($27000 - $660) × 2% = -$526.8

Net sales = $25813.2

b. Net sales = $25813.2

Less: cost of goods sold = $15000 - $400 = -$14600

Gross profit = $11213.2

Operating expense:

Less: Selling and administrative expenses = -$2835

Operating income = $8378.2

Non-operating items:

Less: Interest expense = ($200

Add: Gain on land Sales = $900

Net Income= $9078.2

c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.

d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.

Option B is the correct answer.

4 0
3 years ago
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