Answer:
Instructions are below.
Explanation:
Giving the following information:
Martha receives $200 on the first of each month. Stewart receives $200 on the last day of each month. Both Martha and Stewart will receive payments for 30 years. The discount rate is 9 percent, compounded monthly.
To calculate the present value, first, we need to determine the final value.
i= 0.09/12= 0.0075
n= 30*12= 360
<u>Martha:</u>
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
A= montlhy payment
FV= {200*[(1.0075^360)-1]}/0.0075 + {[200*(1.0075^360)]-200}
FV= 366,148.70 + 2,746.12
FV= 368,894.82
Now, the present value:
PV= FV/ (1+i)^n
PV= 368,894.82/ 1.0075^360
PV= $25,042.80
<u>Stewart:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly payment
FV= {200*[(1.0075^360)-1]}/0.0075
FV= 366,148.70
PV= 366,148.70/1.0075^360
PV= $24,856.37
Martha has a higher present value because the interest gest compounded for one more time.
Mark Adler will have to work 133.59 hours of overtime per week to earn the same amount at his current job.
<h3>Word problems in algebra?</h3>
Word problems in algebra involve the use of mathematical models and variables to solve them. We use a careful and effective method to interpret the variables.
- In Mark Adler's current job, it was noted that he earns $1963.71 per month
However, his new job pays him $9.80 per hour and a half for all hours over 40 hours per week.
It implies that if he works for over 40 hours per week, he gets paid at the rate of:
For 40 hours, he will make 40 hr × $14.7 / hr = $588
Therefore, to make the same amount per week at his current job, he has to work for:
= $133.59 hours
Learn more about word problems here:
brainly.com/question/2254383
Answer:
Explanation:
I would recommend the following financial services:
- Using a debit card: this will eliminate the need for Kim to move around with cash or physical checks in order for her to make purchases directly from her savings.
- The use of mobile banking services: this is a service that her bank provides, in which Kim can carry out transactions remotely, using her phone. It is called mobile banking because transactions can be performed on the go. Kim can access her accounts anytime, and she can also be alerted via text messages about her bank account status.
- The use of online banking services: this will also be a convenient method for Kim to carry out financial transactions, because this can be conducted over the internet, and at Kim's convenience.
Answer:
None of the options is correct.
Explanation:
A spot trade could be result in higher or lower profits, the also applies to a carry trade. The factor that can make this investment more or less profitable if the current exchange rate between the US dollar and the Hungarian forint. Since the company is investing in Hungarian forints, if it depreciates against the US dollar, the company's profit may decrease or even turn into a loss. On the other hand, if the Hungarian forint appreciates against the US dollar, the company's profits will increase.
