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3 years ago

5

Martha's grandfather put $2000 in a savings account for Martha's college fund when she was born. If the account pays three perce

nt interest, compounded quarterly, how much will Martha have for college when she is 18?

1 answer:

seraphim [82]3 years ago

8 0

Answer: $3,425

Explanation: Quarterly compounding periods for 18 years is 4 x 18 = 72 and the payment amount is $2,000.

2000 (1+.03/4)^72 = 3425.11

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Sandra waterman purchased a 52-week, $1,000 t-bill issued by the u.s. treasury. the purchase price was $996. (a) what is the amo

Darina [25.2K]

(a) Discount amount = Face value - Price of t-bills = $1,000-$996 = $4

(b) Amount received at maturity = Face value = $1,000 (Note: T-bills are guaranteed and thus one of the safest investment).

(c) Current yield, R = Discount amount/Face value * 360/t, where t = 52 weeks = 360 days.

Then,

R = (4/1000)*(360/360)*100 = 0.4%

6 0

2 years ago

Cal Lury owes $25,000 now. A lender will carry the debt for four more years at 10 percent interest. That is, in this particular

vitfil [10]

Answer:

$6,185.31

Explanation:

Value of debt at end of 4 years = $25,000 * (1 + 10%)^4

Value of debt at end of 4 years = $25,000 * (1.10^4)

Value of debt at end of 4 years = $25,000 * 1.4641

Value of debt at end of 4 years = $36,602.50

Let x be the annual payments

x * [1 - (1 + 13%)^-12] / 13% = $36,602.50

x * [1 - (1.13)^-12] / 13% = $36,602.50

x * [1 - 0.2307059] / 13% = $36,602.50

x * 0.7692941/0.13 = $36,602.50

x * 5.91764692 = $36,602.50

x = $36,602.50/5.91764692

x = 6185.313266375142

x = $6,185.31

So therefore, his annual payment will be $6,185.31.

4 0

3 years ago

What is bank interest

Fynjy0 [20]

Bank interest is when you leave money in the bank for saving purposes. Then the money stays in the bank and you get money for keeping your money in the bank.

3 0

2 years ago

Read 2 more answers

Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with

vekshin1

Answer:

59,700 units

Explanation:

The computation of the equivalent units for the conversion cost is shown below:

= Opening work in process units × completion percentage + units started and completed × completion percentage + ending work in process units × completion percentage

= 4,600 units × 100% + 36,500 units × 100% + 31,000 units × 60%

= 4,600 units + 36,500 units + 18,600 units

= 59,700 units

6 0

3 years ago

Some years ago, chemists at 3M Corporation were trying to create a super-strong glue. Somehow they got their molecules twisted a

scoray [572]

Answer: An entrepreneur

Explanation:

The 3M corporation in the process of creating a new product from a fresh idea are acting as an entrepreneur. An entrepreneur is an individual or organization that is actively involved in creating a new product and investing in that product, with the aim of gaining a profit in return from their investment.

7 0

3 years ago