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
mr_godi [17]
2 years ago
5

On the day of a child's birth, a parent deposits $35,000 in a trust fund that pays 4% interest, compounded continuously. Determi

ne the balance in this account on the child's 24th birthday. (Round your answer to two decimal places.)
Business
2 answers:
Dmitrij [34]2 years ago
6 0

Answer:

$91,409

Explanation:

Balance = 35000*e^(0.04*24)=$91409

BlackZzzverrR [31]2 years ago
6 0

Answer:

$91,409 .32

Explanation:

the formula used to calculate continuously compounded interest:

A = Peˣⁿ

where:

  • A = future value = ?
  • P = principal = $35,000
  • e = mathematical constant = 2.71828
  • x = interest rate = 4% = 0.04
  • n = periods = 24 years

A = $35,000 x 2.71828⁰°⁰⁴ˣ²⁴ = $35,000 x 2.71828⁰°⁹⁶ = $35,000 x 2.61169 = $91,409.32

Continuously compounding interest means that your money and earned interest is earning interest all the time, i.e. it is continuously compounding infinitely many times per year.  

You might be interested in
Dr. regan was hired by the siri company to assist them with retaining their employees without lowering profits and expectations.
Anestetic [448]
Dr. Regan was hired to help retain employees by the Siri corporation without losing money and expectations. He was the one who suggested that employees could decorate their work spaces and this would help employees feel more comfortable where they have to work 8 or more hours per day. This then helped the company by people not calling in and less people quit their jobs. Dr. Regan was most likely an industrial and organizational psychologist. Many companies hires these types of psychologists to help their employees with stress at work and to put employees at ease. 
7 0
2 years ago
Suppose that an economy consists of only two individuals. Trevor has $1070 available to spend on goods. He decides to purchase $
castortr0y [4]

Answer:

<em>The question option are:</em>

<em>1. For the current quarter what is the economy's income? </em>

<em>2. For the current quarter, what is the economy's expenditure? </em>

<em>3. In an economy, how are income and expenditure related?</em>

1. The economy's income for the current year is $450 because there is only one transaction that take place in the year worth of $450

2. The economy's expenditure of the current year is $450 because each transaction has two side. One is the Income, the other is Expenditure. The income is converted to expenditure.

3. In an economy, income and expenditure are related and they are equal. Each transaction has two side. One is the Income, the other is Expenditure. The income is converted to expenditure.

4 0
3 years ago
FitterYou Inc., a company that manufactures health products, hosts an event at a local hotel to generate potential customers. Th
Nastasia [14]

By inviting over 120 prospects to the event through direct mails, then the company that manufactures the health products is using a <u>seminar</u> to  generate sales leads.

<h3 />

What is a sales seminar?

Generally, a sales seminar are organized by company to persuade clients or train its employee on how to sell its products.

In conclusion, the company that manufactures the health products is using a <u>seminar</u> to  generate sales leads.

Read more about sales seminar

<em>brainly.com/question/23714927</em>

3 0
2 years ago
Scenario​ : The average total cost to produce 100 cookies is​ $0.25 per cookie. The marginal cost is constant at​ $0.10 for all
nika2105 [10]

Answer: D. $20

Explanation:

Total cost to produce 50 cookies = Total cost to produce 100 cookies - Marginal cost to produce 50 cookies

Total cost to produce 100 cookies is:

= Average total cost * number of cookies

= 0.25 * 100

= $25

Marginal cost to produce 50 cookies is:

= Constant marginal cost * number of cookies

= 0.10 * 5

= $5.00

Total cost to produce 50 cookies = 25 - 5

= $20.00

8 0
2 years ago
Equipment costing $17,500 with an estimated salvage value of $1,180 and an estimated life of 4 years was purchased on October 31
svp [43]

Answer:

the depreciation expense recorded is $680

Explanation:

The computation of the depreciation expense under the straight-line method is shown below:

= (Purchase cost - residual value) ÷ (estimated life)

= ($17,500 - $1,180) ÷ ( 4 years)

= $4,080

Now the 2 months depreciation is i.e. from November to December

= $4,080 × 2 months ÷ 12 months

= $680

Hence, the depreciation expense recorded is $680

8 0
3 years ago
Other questions:
  • The average propensity to consume is the: ratio of consumption to income. amount consumed out of an additional dollar of income.
    14·1 answer
  • Development may be inhibited in command economies because..
    12·1 answer
  • Intuitiv Manufacturing's large plastics molding machine suddenly broke down during its day shift. When considering the purchase
    9·1 answer
  • A coupon bond that pays semiannual interest is reported in the Wall Street Journal as having an ask price of 117% of its $1,000
    13·1 answer
  • Market segmentation involves aggregating prospective buyers into groups that have common needs and will
    9·1 answer
  • (1) Quality of products available in superstore.
    15·1 answer
  • Americans spend the largest portion of their budget on _____
    13·1 answer
  • Jeanine, the operations manager of an auto dealership, has been redesigning operations. She feels there are many places where th
    9·2 answers
  • A family is the basic unit of a consumer sector.<br><br> Question 6 options:<br> True<br> False
    7·1 answer
  • cash transactions involving the purchase and sale of long-term assets and current investments are classified on the statement of
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!