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marusya05 [52]
3 years ago
9

Your parents put $300 into an account paying 11 percent interest for you when you were ten. Ten years later they tell you that y

ou can take the money out of the account. What is the balance to the nearest penny
Business
1 answer:
Flauer [41]3 years ago
3 0

Answer:

The balance in the account = $851.8

Explanation:

The future value of a lump sum is the amount expected at a future date when a sum of money is invested today at a particular rate of interest for certain number of years

.

This implies compounding the initial amount invested ($300) at the given interest rate(11%) for 10 years.This will be done as follows:

<em />

FV = PV × (1+r)^(n)

FV-Future value

r- rate of return per period

n- Number of period

PV - 300

r-11%

DATA

FV- ?

PV - 300

n- 10

FV= 300 × 1.11^10 = 851.83

The balance in the account = $851.8

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Answer:

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Explanation:

The computation of the operating income reflected is shown below:

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Contribution Margin (Units × Per Unit) $115,000   $155,000

Less : Fixed Cost              -$40,000             -$40,000

Operating Income              $75,000             $115,000

The contribution margin per unit is come from

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= $5

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Under normal conditions, air management increases your work time, but if you are lost or trapped, it:_______
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An appraiser has assigned the following weights to three adjusted sale prices: Comparable 1: $329,500 45% weight Comparable 2: $
n200080 [17]

Answer:

$322,990

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