1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mr Goodwill [35]
3 years ago
11

Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee de

posits an additional $40,000 at 9% interest compounded semiannually. At the end of 6 years, what is the balance in Lee’s account?
Business
1 answer:
zhuklara [117]3 years ago
6 0

Answer:

Total sum at te end of 6 years=$ 73,138.97

Explanation:

<em>The total sum in Lee's account at the end of year would be determined as follows:</em>

FV= A × (1+r)^n

FV- Future sum?,

A- deposit amount ,

r- interest rate - 9%/2 = 4.5% per 6 months

n- number of years is 6

First deposit for  6 years

FV =  15,000× 1.045^(2×6)

 =  $25,438.22

Last 40,000 for 2 years

FV = 40,000 1.045^(2×2)

   =47,700.74403

Total sum at the end of 6 years

= $25,438.22 + $47,700.74

=$ 73,138.97

You might be interested in
2.1: A debit is A : a decrease to an account. B : an entry on the left side of an account. C : an entry on the right side of an
Luba_88 [7]

Answer:

B : an entry on the left side of an account.

Explanation:

There are two terms i.e debit and credit.  

The accounts that reported as an expense, losses, assets are recorded in the left-hand side of an account as it contains the debit balance.

While the account reported as a revenue, gains, liabilities & stockholder equity are recorded in the right-hand side of an account as it contains the credit balance.

7 0
3 years ago
If the Fed increases the discount rate, which of the following accurately describes the sequence of events that will follow in t
AnnZ [28]

Answer: A. Reserves ↓: Excess reserves ↓; Loans ↓; Deposits ↓; Money supply ↓

Explanation:

The discount rate is the rate at which the Fed lends money to banks and other depository type institutions. Normally banks have a reserve requirement that the Fed requires of them which states how much they are to leave with the Fed as a reserve. Banks tend to fall short of this reserve sometimes and so can borrow from the Fed to balance it off.

If the Fed increase the rate at which these banks can borrow, they will not want to do so thus leaving their Reserves at the Fed lower than it should be. They will then use their excess reserves which is money kept in reserve more than the Fed requires, to balance off their reserve at the Fed.

As a result of this reduction in their Excess reserve, they will have less money to give out as loans. With less loans being made, people will not have as much money to deposit after taking the loans. Money supply will then fall as a whole.

4 0
3 years ago
If the variable costs of producing two books are $100, what is the marginal cost of producing one more book?
Ierofanga [76]

Answer:Hi Martina, okie anyway Im taking the test rn too I just answered Tanya, its $25

Explanation:

1 book= 50

2 books= 100

100-50=50

Then 50/2=25

3 0
3 years ago
The additional income from selling one more unit of a good, sometimes equal to price, is _____.
Alecsey [184]
Marginal Revenue.......
7 0
3 years ago
Read 2 more answers
In a simple economy in which prices are constant and with no income taxes or imports, the marginal propensity to consume is 0.8.
lutik1710 [3]

Answer: Increase by $250

Explanation: As per the general rule of economics when there is an increase in income, that increase will eventually lead to increase in expenditure.

As, there is an increase in investment in the given case so it will result in increase in income for the economy.

We can compute it  as :-

change\:in\:income=\frac{change\:in\:investment}{1-MPC}

change\:in\:income=\frac{\$50}{1-0.8}

                                        = $250

Therefore, the expenditure would increase by $250

5 0
3 years ago
Other questions:
  • Sarah's company encourages her to tolerate ambiguity and reward her employees for taking risk. In​ addition, she often has descr
    15·1 answer
  • For a recent year L’Oreal reported operating profit of €3,385 (in millions) for its Cosmetics division. Total assets were €12,88
    5·1 answer
  • A store manager must decide how many rug cleaners to rent to customers. The manager estimates that the first would yield $200 a
    14·1 answer
  • For the current year, Gina Hestopolis had adjusted gross income of $100,000. During the year, she contributed $6,000 to her chur
    12·1 answer
  • Which kind of stock is most affected by changes in risk aversion? (In other words, which stocks see the biggest change in their
    5·1 answer
  • Ramirez Company is completing the information processing cycle at its fiscal year-end on December 31. Following are the correct
    11·1 answer
  • What is the longest period of time that a forbearance may be placed on your account at one time?
    7·1 answer
  • In marketing, promotion usually involves a company or organization
    11·1 answer
  • Define demand and supply​
    14·1 answer
  • Compared to working without a buyer agency agreement, a buyer who works under a buyer agency agreement ____________.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!