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Alja [10]
3 years ago
12

Suppose that $ 5 000 is invested at 3.9 % annual interest​ rate, compounded monthly. How much money will be in the account in​ (

A) 8 ​months? (B) 24 ​years?
Business
2 answers:
abruzzese [7]3 years ago
6 0

Answer:

A. $6,333.85

B.  $10,163.97

Explanation:

A= P (1+r/n)^nt

Where:

A     = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

Therefore in 8 months

P = $5000

r = 3.9%

n = 1

t = 8 months

A= P (1+r/n)^nt = 5000 x (1+(0.03/1)^1 x 8 = $6,333.85

Therefore in 24 months

P = $5000

r = 3.9%

n = 1

t = 24 months

A= P (1+r/n)^nt = 5000 x (1+(0.03/1)^1 x 24 = $10,163.97

BlackZzzverrR [31]3 years ago
4 0

Answer:

(A) $5,131.5

(B) $12,729.5

Explanation:

The interest earned on the value of interest earned before is the compounded interest. Compounding is the reinvestment of the amount earned before and take return over it too.

As per given data

Invested amount = $5,000

Interest rate = 3.9%

Interest is compounded monthly

Monthly rate = 3.9% / 12 = 0.325%

Formula for the accumulated amount of investment

A = P ( 1 + r )^n

Accumulated Money when $5,000 is

(A) Invested for 8 months

A =  $5,000 ( 1 + 0.325% ) ^8

A = $5,131.5

(b) Invested for 24 years or 288 months (24 x 12)

A =  $5,000 ( 1 + 0.325% ) ^288

A = $12,729.5

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Requirement 1

<em>High Point = March</em>

<em>Low Point = January</em>

Requirement 2

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<em>Fixed cost per month $1,457</em>

Requirement 3

<em>Total Cost = $1,457 + $0.41 × Activity Level</em>

Requirement 4

<em>Total predicted cost for September $ 2,482</em>

<em>Total fixed cost for September $1,457</em>

<em>Total predicted variable cost for September $1,025</em>

Explanation:

Requirement 1

High Point = March

Low Point = January

Requirement 2

<em>Variable Cost = Difference in Overhead Cost (High - Low)/ Difference in Activity (High - Low)</em>

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<em>Fixed Cost Component = Total Overhead Cost - Variable Cost × Selected Activity.</em>

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Total Cost = $1,457 + $0.41 × Activity Level

Requirement 4

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brainly.com/question/28500740

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