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
Marrrta [24]
3 years ago
9

You want to save $98,000 to buy an boat by making an equal, end of year payment into a brokerage account for the next 9 years. I

f you expect to earn an annual interest rate of 7.75% on your account, how much do you need to deposit each year into your account?
Business
2 answers:
algol [13]3 years ago
7 0

Answer: $7,930

Explanation:

The payments are to be equal so this is an annuity. The expected value is to be $98,000 in 9 years so this is a future value of an Annuity.

The formula is;

FV = P * \frac{[1 + i]^n-1}{i}

98,000 = P * \frac{[1 + 0.075]^9-1}{0.075}

98,000 = P * 12.3581

P = 98,000/12.3581

P = $7,930

malfutka [58]3 years ago
6 0

Answer:

Annual deposit= $7,930.11

Explanation:

Giving the following information:

FV= $98,000

n= 9 years

i= 0.0775

<u>To calculate the annual deposit, we need to use the following formula:</u>

<u></u>

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

A= annual deposit

Isolating A:

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

A= (98,000*0.0775) / [(1.0775^9) - 1]

A= $7,930.11

You might be interested in
Ram Company's after-tax net income was $120. Their interest paid was $50. Assuming the corporate tax is 40%, what is Ram Company
Nataliya [291]

Answer:

5

Explanation:

The formula to compute the interest coverage ratio is shown below:

= (Earning before tax + interest expense) ÷ (interest expense)

where,

Earning before tax equal to

= Net income ÷ (1 - tax rate)

= $120 ÷ (1 - 0.40)

= $200

And interest expense is $50

So, the interest coverage ratio equal to

= ($200 + $50) ÷ ($50)

= 5

4 0
3 years ago
Describe how you would use any five entrepreneurial qualities to make sure that your business is a success
sukhopar [10]
Passion
being open minded
desire to become the best at what you do
having a positive attitude and outlook 
constantly keep your ideas flowing
 
5 0
3 years ago
Assume you had determined that John Firestone, vice president of Pierce Chemicals, was a prospect for your paper and metal conta
Nuetrik [128]

Answer: Please refer to Explanation.

Explanation:

1. Honesty.

State the purpose of your call to the secretary and sell your product. For instance, " Hello, my name is Mr. Petal and I represent a fast rising Paper and Metal Container company. After researching about your company, I felt it most expedient to get in touch with Mr. Firestone as I believe this is business he will be interested in. We offer perks that are unmatched in the industry".

2. Persistence.

You can be persistent on the phone if you detect deceit in the secretary's tone.

For instance,

" Having been in the chemical industry myself, I know such an opportunity does not come often and I really do guarantee that we give the best benefits in the industry. If you can, just let me talk to Mr. Firestone, I promise that neither of you will regret it".

If it still doesn't work, ask for a convenient time you can call back.

4 0
2 years ago
Which part of the business plan is an analysis of your competition and the strategies you will use to earn and maintain a compet
gizmo_the_mogwai [7]

A competitive analysis.

A competitive analysis examines the strengths and weaknesses of your competition in relation you your business.

5 0
3 years ago
Three weeks ago, you purchased a July 45 put option on RPJ stock at an option price of $3.20. The market price of RPJ stock thre
Anton [14]

Answer:

$25

Explanation:

We can calculate intrinsic value by intrinsic formula

Formula : intrinsic Value = (purchased price- current price) x 100

intrinsic Value = (45-44.75) x 100

intrinsic  Value =  $25

5 0
3 years ago
Other questions:
  • Jim holds a commercial lease. Last year his rent went up 4% based on a 4% increase in the wholesale price index. What type of le
    9·1 answer
  • This is the person or persons who offers a good or service.
    6·1 answer
  • What's going on here? As soon as Dewey Cheatum and Howe Motors increase the prices on their SUVs, then so does their only compet
    11·1 answer
  • On April 1, 2020, Vaughn Company assigns $524,600 of its accounts receivable to the Third National Bank as collateral for a $336
    15·1 answer
  • Susan picked up a package of potato chips and noticed on the front of the package the words, "0 grams of trans fat." She looked
    8·1 answer
  • How do a sole proprietorship and a corporation differ?
    6·1 answer
  • A task has an optimistic completion time of 4 days, a most likely time of 10 days, and a pessimistic time of 13 days. The expect
    9·1 answer
  • Example of business proposal​
    10·1 answer
  • Suppose you would like to make a global change to the font type and font color for all slides with the comparison layout. Which
    9·1 answer
  • There are 10,000 shares of $20 par value cumulative 7 percent preferred stock outstanding, and 90,000 shares of common stock out
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!