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Yuliya22 [10]
3 years ago
7

Katie had a high monthly food bill before she decided to cook at home every day in order to reduce her expenses. She starts to s

ave $1,410 every year and plans to renovate her kitchen. She deposits the money in her savings account at the end of each year and earns 5% annual interest. Katie’s savings are an example of an annuity. If Katie decides to renovate her kitchen, how much would she have in her savings account at the end of eight years? $13,464.24 $14,137.46 $11,444.60 $9,113.13
Business
1 answer:
Orlov [11]3 years ago
4 0

Answer:

The c orrect answer is A.

Explanation:

Giving the following information:

Annual deposit= 1,410

Annual interest rate= 5%

Number of years= 8 years

To calculate the future value of her investment, we need to use the following formula:

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

A= annual deposit

FV= {1,410*[(1.05^8)-1]}/ 0.05

FV= $13,464.24

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andrezito [222]

Answer:

The recommended actions for success in informational interviews are;

1. Dress neatly and arrive on time

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Explanation:

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3. Ask elaborate questions about the career

This is the point where one needs to ask challenging questions that has been thoroughly researched so that you sound interested and committed towards the career path. The interviewee will feel respected.

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Answer:

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When the money market is drawn with the value of money on the vertical axis, the price level increases if money demand shifts left and decreases if money supply shifts left.

Also, when the money market is drawn with the value of money on the vertical axis, the value of money decreases, as price level  increases; causing quantity of money demanded to increase and to move rightward on the money demand curve.

However, there would be an increase in the demand of money, if the price level is above the equilibrium rate; thereby making the price level to fall when the money market is drawn with the value of money on the vertical axis.

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