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leva [86]
2 years ago
12

Mary makes monthly deposits of $450 at the end of each month over 25 consecutive years to support her retirement. If the account

earns an interest rate of 7.5%, which amount comes closest to the value of the deposits at the end?
a. $120,938
b. $343,343
c. $382,667
d. $394,767
e. $367,100

Business
1 answer:
Arte-miy333 [17]2 years ago
8 0

Answer:

d. $394,767

Explanation:

For computing the amount of deposit at the end we need to apply the future value formula i.e to be shown in the attachment

Given that,  

Present value = $0

Rate of interest = 7.5% ÷ 12 months = 0.625%

NPER = 25 years × 12 months = 300 months  

PMT = $450

The formula is shown below:

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

So, after applying the above formula, the future value is $394,767

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On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during
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Answer:

Algerian Delivery's basic earnings per share for the year ended December 31, 2021 is $3.01

Explanation:

In order to calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2021 we would have to make first the following calculations:

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Let S(x) denote "x obeys the speed limit," where the domain is the set of all drivers. Express the negation of the proposition "
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