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
Riverside Manufacturing designs and manufactures bathtubs for home and commercial applications. Riverside recorded the following
Gnoma [55]

Answer:

Explanation:

Variable MOH rate variance = Actual Hours × (Actual Rate - Standard Rate)

= 4050 × ($7.50 - $4.50)

= 12150

4 0
3 years ago
The introduction of ________ has greatly simplified trans-shipment between various modes of transportation. Group of answer choi
ozzi

Answer:

a. containerization

Explanation:

The containerization is defined as the system which uses intermodel containers for freight transport. By this methods, each container is considered an unit of product instead of smaller parts. The transport between shipment methods would be facilitated without affecting to commodities inside each containers. In addition, when many products are in the containers, the quantity of parcel can be easily controller. The standardized dimensions of containers used can help the exporter, importer or transporter easily make plan about shipment by different means.

4 0
3 years ago
n investor has $100,000 invested in an account that earns 5% annually. The investor wishes to withdraw $12,000 per year. If the
lawyer [7]

Answer:

11 years

Explanation:

For computing, the number of years or the account will be fully depleted we need to apply the NPER formula i.e to be shown in the attachment below:

Given that,  

Present value = $100,000

Future value = $0

PMT = $12,000

Rate of interest = 5%

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after applying the above formula, the number of years in which the account is depleted is 11 years

3 0
3 years ago
Why is the leaf washed with distilled water​
Aliun [14]
To remove almost all of the sodium and minerals
3 0
3 years ago
Aim higher college has deployed an open source blog package. this package uses a database backend and allows users to create use
Svetradugi [14.3K]
The application administrator should tighten measures on the external application used in the database backend especially when it comes to creating user IDs in order to prevent unauthorized users - any off-campus or even non-affiliated users to indiscriminately post links, especially malware and malicious ones. This can be done by selecting a viable verification method in order to only allow on-campus students to sign-up to the service. 
4 0
3 years ago
Other questions:
  • If you think that your bill is wrong, you should first: A. contact the local credit bureau and inform it of the billing error. B
    5·1 answer
  • Countries A and B both produce bicycles. Country B has a comparative
    15·1 answer
  • Which of the following activities should be expensed currently as R&amp;D costs? (a) Testing in search for or evaluation of prod
    13·1 answer
  • Suppose toyota manufacturing plant employs a total of 100 workers and pays a mean monthly salary of $ 5,000 to the employees in
    11·1 answer
  • When marketing managers looks for a relationship between past sales and one or more independent variables, such as population, p
    8·1 answer
  • Dodge, Incorporated acquires 15% of Gates Corporation on January 1, 2011, for $105,000 when the book value of Gates was $600,000
    7·1 answer
  • PDQ Repairs has 200 auto-maintenance service outlets nationwide. It performsprimarily two lines of service: oil changes and brak
    11·1 answer
  • Last night 45,000 people bought 6,000 shirts. The shirts cost $8.00 dollars each. How much did they spend all togther?
    12·2 answers
  • The differences between small data and big data for companies
    15·1 answer
  • 1.the profit maximizing monopolist would achieve loss minimization when... a.total cost equals total revenue. b.price is below a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!