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3 years ago

How much must be deposited at the beginning of each year to accumulate to $25,000 in two years if interest is at 9%?

Business

1 answer:

Alika [10]3 years ago

7 0

Answer:

$10,974.05

Explanation:

Given that,

Amount to accumulated = $25,000 in two years

Interest rate = 9%

Let the amount be X,

Total amount after two years:

= Year 1 + Year 2

= X(1.09)^2 + X(1.09)

= 1.1881 X + 1.09X

= 2.2781 X

SO, Total amount after two years:

2.2781 X = 25,000

X = 25,000 ÷ 2.2781

= $10,974.05

Hence, the amount deposited at the beginning of each year is $10,974.

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3 years ago

When individuals use all available information about an economic variable to make a decision, expectations are?

monitta

when individuals use all available information about an economic variable to make a decision, expectations are -rational

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1 year ago

What are the costs of “freebie” items?

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4 years ago

Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 14,000 Selling price per un

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Answer:

Results are below.

Explanation:

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COGS= 10,000 + 86,000 - 23,000

COGS= $73,000

Sales= 14,000*17= 238,000

COGS= (73,000)

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3 years ago