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scoundrel [369]
3 years ago
8

Kyler isn't getting any younger! He decides it's time to start saving for his future and deposits $225 each month at 6.2% annual

interest for 25 years. At the end of 25 years, he has an account balance of $160,811.43. How much of this did Kyler contribute and how much of this is interest?
Social Studies
1 answer:
yanalaym [24]3 years ago
7 0

Answer:

The best answer to the question: How much if this did Kyler contribute and how much of this is interest, would be: 93.311.43 would be the total amount accrued by Kyler at the end of the 25 years of saving if the annual compound rate is maintained at 6.2%, and the rest would be the net savings done by Kyler if he maintains the rate of savings at 225 per month for all of the 25 years.

Explanation:

The good thing about savings on an account with compound interest rate is that at the end of the saving period, the total amount gained will be much larger than without it. This compound interest rate is simply the extra money that a person may get for literally investing his/her money in this case on a bank account that offers that rate of interest every year. Give or take a bit from taxes, at the end of the day, Kyler got a lot more money from just compound annual interest, than from his own hand.

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The contemporary theory of cognitive development that focuses on encoding, storage, and retrieval is called the ______ approach.
DanielleElmas [232]

The contemporary theory of cognitive development that focuses on encoding, storage, and retrieval is called the information processing approach.

<h3>What is the information processing approach?</h3>

Information processing approach is the theory that was gotten from the traditional American idea on psychology. This approach is one that has to do with the focus on encoding and storage as well as retrieval.

This theory was done as an approach to cognitive development. It helps to teach how information is encoded in the memory.

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2 years ago
Victor is a senator from Kansas who wants to help farmers. He has worked to encourage the passage of a law that would impose a b
Airida [17]

Answer:

The binding price floor will cause a surplus of wheat that farmers will be unable to sell.

Explanation:

The price floor is the lowest price that can be paid for goods, by binding price floor the senator requires by law a price for the goods above the equilibrium. The critics would say that since the wheat is binded price floor and cannot drop below the price stated by the senator, when the government inflate the price for the market the consumers will deny to pay the price stated and by that the consumption of wheat would fall creating a surplus of wheat, since the goods won’t be sold.  

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3 years ago
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3 0
3 years ago
When planning a trip to Spain, Brett and his wife, both Americans, were concerned about how much they could afford to spend in E
Snezhnost [94]

The correct answer would be option C, Exchange Rate.

When planning a trip to Spain, Brett and his wife, both Americans, were concerned about how much they could afford to spend in Europe because sometimes the U.S. dollar will buy more goods and sometimes it will buy less, based on changing economic conditions. The Exchange rate is the rate at which the currency of one area or country can be exchanged for the currency of another’s.

Explanation:

When one currency of a country is exchanged with the currency of another country, the rate at which the currencies are exchanged is called as the exchange rate.

For example while planning a trip to Europe from America, the couple have US dollars which they need to exchange in Euros to be able to use the currency in Europe.

Roughly, a Euro is equivalent to 1.08 US Dollars, as of today. So this 1.08 dollars will be the exchange rate for US dollars to Euro.

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3 years ago
Why have so few banking executives, or any white-collar criminals, been held criminally liable for actions that cost more and ha
rosijanka [135]

<u>Answer:</u>

A very few banking executives or white-collar criminals have been held criminally liable for their actions because such criminals often possess the power to influence the decisions of the courts and at times also use their power to destroy the evidence that would work against them.

<u>Explanation:</u>

  • Though the crimes committed by white collar criminals are way too serious than the crimes committed by common people, the white-collar criminals manage to escape the clutches of the laws by putting to use the best of their resources to try to influence the judges and other systems involved.
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3 years ago
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