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spayn [35]
3 years ago
10

An investor who was not as astute as he believed invested $276,500 into an account 9 years ago. Today, that account is worth $21

3,600. What was the annual rate of return on this account
Business
2 answers:
marissa [1.9K]3 years ago
7 0

Answer:

-2.83%

Explanation:

Given that

n = 9 years

Present value = 276500

Future value = 213600

Since

FV = PV (1 + r) ^n

213600 = 276500 (1 + r)^9

Therefore

r = (213600/276500)^1/9 - 1

r = (0.7725)^1/9 - 1

r = 0.9717 - 1

r = - 0.0283 or -2.83%

Dimas [21]3 years ago
6 0

Answer:

The annual rate of return is -2.83%

Explanation:

The annual rate can be calculated from the formula FV=PV*(1+r)^N

Where FV is the future value of the investment

PV is the amount invested which is $276,500

N is 9 years

213600=276,500*(1+r)^9

213600/276500=(1+r)^9

divide index on both sides by 9

(213600/276500)^1/9=1+r

(213600/276500)^1/9-1=r

r=-0.02827109

r=-2.83%

Hence the annual rate of return on the investment is -2.83%, which means the investment depleted by 2.83% from initial invested amount of $276,5000 to $213,600 after nine years

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Floors n’ More, Inc., hires Gordon to renovate Floors n’ Mores showroom. Gordon submits plans that Floors n’ More approves. Gord
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Answer:

Yes Gordon can sue Floors n' Mores for the settlement of the contract keeping in mind that Gordon has made partial completion of the contract. Full payment would be determined based on the completion of the total work in line withe the plans submitted when the contract was signed

Explanation:

In order to understand the scenario in case if Gordon wants to sue Floors n Mores they can only be compensated for the amount of project completion in line to the expectations that matches to Floors n More.

For Example if 75% of the work is in line with the expectation of Floors N More then Gordon should be paid total amount payable multiply by 75%.

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3 years ago
How do I delete my acount
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5 0
3 years ago
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In preparing a sales forecast, it is desirable to have forecasts covering the "most likely", "best case" and "_____ case" scenar
zlopas [31]
The answer for this should be letter D
4 0
3 years ago
If a fee of $2,850 earned from a client was debited to Accounts Receivable for $2,580 and credited to Fees Earned for $2,850, wh
Natalka [10]

Answer:

Explanation:

given data

fee = $2850

receive = $2580

credit fees = $2850

to find out

which statement true

solution

we know here that fee earn by client is here  $2850

and        

$2580 receive as debit account  so

$2850 fee earn credit

so we can say here

credit balance will be high ( 2850 - 2580)

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so option A is correct          

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