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Likurg_2 [28]
3 years ago
9

a) Sixteen years ago your parents opened a saving account in your name and made a lump sum deposit, today the balance of this ac

count is $260,000. If the account has been earning 6% compounded annually, how much did your parents initially deposit
Business
1 answer:
Sonbull [250]3 years ago
8 0

Answer:

$102,348.034

Explanation:

It is a simple problem of Compound Interest, we have to find the Principle amount invested.

Given:

Future value (F) = $260,000

Rate(R) = 6% = 6/100 = 0.06

Number of years (n) = 16 years

Initial deposit (C) = ?

Calculation:

Future value (F) = C\times (1+R)^n\\Future value (F) = C (1+0.06)^{16}\\260,000 = C(2.54035168)

$260,000/2.54035168 = C

$102,348.034 = C

So, Initial cash Deposit = $102,348.034

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According to Orlando:_____.
Novay_Z [31]

Answer:

According to Orlando:_____.

(a) workers have obligations to, but are owed consideration by, their employers.

Explanation:

Workers are employed by their employers to carry out their obligations as per instruction.  They owe the duty of reasonable care to their employers.    They are supposed to be honest in their dealings with their employers.  Workers are also required to take safety and health measures to protect themselves and others from harm at the workplace.  For all these obligations, the employers of labor must pay adequate consideration to their workers and ensure their safety at work.

3 0
3 years ago
A person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount each
lisov135 [29]

Answer:

The correct answer is C: $4300

Explanation:

Giving the following information:

They will invest an equal amount each month for 5 years.

This account will earn 6% per year(0.5% per month)and will have $300,000 at the end of the 5-year term

We need to use the following formula:

final value= {A[(1+i)^n-1]}/r

A= cuota

i= monthly interest

n= 60 months

Isolating A:

A= (FV*i)/[(1+i)^n-1]

A= (300000*0.005)/[(1.005^60)-1]

A= 1500/0.34885= 4300

3 0
3 years ago
If you could make an online clothing business, what would be your mission and vission staement?
Papessa [141]

A mission statement defines the company vision and objectives.

A vision statement focuses more on the future goals and is usually longer than a mission statement because it covers things company purpose, goals, how it will be achieved, etc.

3 0
3 years ago
A milestone is a typical measuring point used when establishing cost control. Which of the following DOES NOT accurately describ
KiRa [710]

Answer:

d. Milestones are developed during risk planning.

Explanation:

A milestone is a typical measuring point used when establishing cost control. Which of the following does NOT accurately describes the use of cost control milestones?Select one:a. Project managers and sponsors often decide the number of milestones jointly.b. Milestones are often identified in the project charter.c. Project managers can use their cash flow projections to determine the funding needed to reach each milestone.d. Milestones are developed during risk planning.

<u>ANSWER</u>

It is not correct that milestones are developed during risk planning but rather they are developed during Project budgeting where the deliverables are identified in terms of the cost to achieve them. Truly as stated in the scenario's options, Project managers can use their cash flow projections to determine the funding needed to reach each milestone. It is in the project planning phase that these milestones are established by Project managers and sponsors jointly.

5 0
3 years ago
Choose the appropriate stage of the venture life cycle in which the following activities would occur.
Aleksandr [31]

Answer:

  • Transition from one-person leadership to team management leadership  - Growth
  • New-product development  - Innovation or decline
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7 0
3 years ago
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