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stepladder [879]
3 years ago
5

Sharon Lee wants to accumulate $10,000 by the end of 12 years. If the annual interest rate is 8.00 percent and interest compound

s semiannually, how much will she have to invest today to achieve her goal?
Business
1 answer:
nataly862011 [7]3 years ago
3 0

Answer:

Amount invested that is principal amount will be $3971.137

Explanation:

We have given that Sharon Lee wants to accumulate $10000 by the end of 12 years

Future value A = $10000 after 12 years

Rate of interest is given  r = 8%

Time period n = 12 year ( which is required to accumulate the future value $10000)

We have to fond the amount invested, that is principal amount

We know that future value is given by

A=P(1+\frac{r}{100})^n

10000=P(1+\frac{8}{100})^{12}

10000=P\times 1.08^{12}

10000=P\times 2.5181

P = $3971.137

So the amount invested that is principal amount will be $3971.137

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According to this, the answer is that based on its customers, ABC should try to dominate the market in quality because its products meet the expectations of professional chefs and that should be market to focus on as the company can have an important advantage by providing exactly what they need.

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