1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gelneren [198K]
3 years ago
13

If you need $20,000 in your bank account in 6 years, how much must be deposited now? The interest rate is 10%, compounded contin

uously.
Business
1 answer:
denpristay [2]3 years ago
5 0

Answer:

$11,289.48

Explanation:

The computation is shown below:

Given that

Amount = $20,000

Time period = 6 years

Interest rate = 10%

For this question, we use the formula that is presented below:

A = P × (1 + r)^n

where,

A = Amount

P = Principal

r = rate

t = time period

So,

$20,000 = P × (1 + 0.10)^6

$20,000 = P × 1.771561

So, P equal to

= $11,289.48

You might be interested in
You are a business loan has a variable interest rate next month the annual rate will jump from 6.3% to 7.8%. Your balance is 1,6
sweet [91]

Answer: $‭2,025‬

Explanation:

Your monthly payment based on the rate of 6.3% per annum is:

= (6.3% * 1,620,000 ) / 12 months

= 102,060‬ / 12

= $‭8,505‬

Now that the rate has gone up to 7.8% per annum, the payment is:

=  (7.8% * 1,620,000 ) / 12 months

= ‭126,360‬ / 12

= $‭10,530‬

Payment went up by:

= ‭10,530‬ - 8,505

= $‭2,025‬

3 0
3 years ago
Which function(s) of money informs the consumer what currency to use to obtain a good or service?
inna [77]
The third function explains that money is a medium of exchange. It means that it is better to use the money used in the country itself to gain better service because it would provide better protection. Costumers would be more satisfied if the business would accept the money they have and it would be safer and mutually good for both if the customer would transact using the currency country's currency.


Source: https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-9-functions-of-money
4 0
3 years ago
Read 2 more answers
Research indicates that the efficiencies of managing through centralized control may be when operating environments of divisions
weqwewe [10]

To complete the statement above, research indicates that the efficiencies of managing through centralized control may be ‘greater’ when operating the environments of divisions in multidivisional organizations are relatively ‘stable and predictable’. It is because when there is a presence of stable and predictable in operating the environments of division in multidivisional organization, there will likely be a result of their managing to be more effective because it is not destructive but stable.

8 0
3 years ago
Carol has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company. Her
levacccp [35]

Answer:

controlling, organizing, planning, and leading

Explanation:

From the question we are informed that Carol's manager is retiring and she will take over. And she will take over management position. Carol needs to have a general understanding of what it takes to be a manager. Therefore in this case, She will need to have knowledge about ✓controlling

✓organizing

✓planning

✓ leading

And all of these are managerial function which are managerial job role as regards to task-based perspective.

Organizing can be regarded as function of management which requires development of organizational structure as well as allocation of human resources so that objective of organization can be met

Planning which requires the manager to create plans so that goals and objectives can be achieved. It involves

delegation of responsibilities, allocation of employee resources

7 0
3 years ago
1.Describe the role that workers play in the game of economics.
antoniya [11.8K]
In the game of economics, workers play a double role, functioning as both consumers and producers. The workers role is unique in the game of economics since they are directly involved. They are the ones who will manufacture, market, sell the products in an economy.
8 0
3 years ago
Other questions:
  • According to the job characteristics model, _____ refers to the job characteristic that reflects the degree to which a job allow
    15·1 answer
  • Why might the federal government decide to intervene in the housing market to promote home​ ownership?
    7·1 answer
  • Robin Baker, a top manager at Westinghouse, has recently been put in charge of a new multi-million dollar project. She selects s
    9·1 answer
  • The major disadvantage of a trust is
    10·2 answers
  • An aircraft factory manufactures airplane engines. The unit cost (the cost in dollars to make each airplane engine) depends on t
    7·1 answer
  • The option of sticking with the current business lineup makes sense when
    10·1 answer
  • One line for mother. ​
    6·1 answer
  • ECONOMICS!! PLEASE HELP ME!!
    13·2 answers
  • identify the early developments in europe as having either contributed or not contributed to the rise of industrial wage labor.
    14·1 answer
  • Advances in technology like the creation of cheap, lightweight laptops has allowed workers to work from almost anywhere. Please
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!