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Luba_88 [7]
3 years ago
15

A student deposits $1,642 in the bank that pays 6.2% interest yearly (using yearly compounding). After 5 years he withdraws the

money from the account and deposits it in perpetual annuity with interest rate 7.5%, that pays X amount yearly. Find X.
Business
1 answer:
tamaranim1 [39]3 years ago
6 0

Answer:

the perpetuity will pay the student 166.36 dollar per years

Explanation:

First, we solve for the amount of the original investment after 5 years:

Principal \: (1+ r)^{time} = Amount

Principal 1,642.00

time 5.00

rate 0.06200

1642 \: (1+ 0.062)^{5} = Amount

Amount 2,218.17

<u>Then, this goes into a perpetual annuity at 7.5%</u>

2,218.17 x 0.075 = 166.3630983 = 166.36

the perpetuity will pay the student 166.36 dollar per years

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Answer:

Explanation:

The following reasons are all examples of financial obstacles to a career plan...

  • I was unable to save enough money to pay for college.
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All of these examples, make it difficult for the individual to pursue the career that they want due to a lack of finances. This includes both going to college to pursue learn and enter the job world that you want as a career as well as forming a company and entering the market that you want as a career as an entrepreneur.

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anyanavicka [17]

Hakim Goals

Explanation:

Hakim set goals for his store that included satisfying his customers while making enough money to open a second store. Which component of a goal did Hakim leave out :

1.Hakim didn't leave anything out.

2. Hakim forgot to include the overall strategy or course of action he would use to fulfill his mission.

3. Hakim forgot to include a time frame in which the goal is to be achieved.

4. Hakim forgot to include exactly how much profit he wanted to make.

5. Hakim forgot to include what his store's purpose and basic philosophy are.

4 0
3 years ago
For the year, Peggy Grey's Cookies had net income of $8,110. The firm paid out 30 percent of the net income to its shareholders
slamgirl [31]

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$2,933

Explanation:

The company had a net income of $8,110, and paid 30% of it to its shareholders, therefore:

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But it also repurchased $500 worth of common stock, and this is to be distributed among the sharedholders as well, thus:

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8 0
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If you put $50 in a savings account that paid 10% compounded yearly, how much interest would you earn in 3 years?
stepladder [879]

Answer:

$66.55

Explanation:

10% of 50 = 5

55 in one year

10% of 55 = 5.5

60.5 in two years

10% of 60.5 = 6.05

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Hope this helped

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