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ella [17]
3 years ago
10

Your cousin is currently 9 years old. She will be going to college in 9 years. Your aunt and uncle would like to have $ 100 comm

a 000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.5 % per​ year, how much money do they need to put into the account today to ensure that they will have $ 100 comma 000 in 9 ​years?
Business
1 answer:
yawa3891 [41]3 years ago
7 0

Answer:

They need to put into the account a total of $67,290 to ensure that they will have $ 100,000 in 9 ​years.

Explanation:

We have to calculate the present value of the sum needed in 9 years ($100,000), with a annual fixed interest rate of 4.5%.

This can be calculated as:

PV=FV/(1+i)^n\\\\PV=100,000/(1.045)^9\\\\PV=100,000/1.486\\\\PV=67,290

They need to put into the account a total of $67,290 to ensure that they will have $ 100,000 in 9 ​years.

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Which career requires less education than an Auditor?

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2 years ago
A store that has very limited inventory commonly uses what type of inventory method ?
faltersainse [42]

RETAIL INVENTORY METHOD SHOULD BE USED BY A STORE .

Explanation:

The retail inventory method is an accounting method used to estimate the value of a store's merchandise. The retail method provides the ending inventory balance for a store by measuring the cost of inventory relative to the price of the merchandise. Along with sales and inventory for a period, the retail inventory method uses the cost-to-retail ratio.

Periodic counts might be once every two months or every three weeks, depending on warehouse size and company needs. This will create better visibility than yearly or seasonal options but it also requires more time and manpower. Workers must ensure they are performing inventory consistently between each count.

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3 years ago
If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most li
inessss [21]
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8 0
3 years ago
Ford produces 100,000 cars this year and only sells 95,000. The 5,000 cars that are not sold _______ listed in ________ category
Gekata [30.6K]

Answer:

Are; investment

Explanation:

Ford produces 100,000 cars this year and only sells 95,000. The 5,000 cars that are not sold are listed in investment category of GDP

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6 0
3 years ago
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Mamont248 [21]

Answer:

1) Japanese buyers of pharmaceuticals.

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8 0
3 years ago
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