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
Vesnalui [34]
3 years ago
11

Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $57

,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?
Business
1 answer:
Levart [38]3 years ago
3 0

Answer:

We require 9.67% return per year to achieve 300,000 in the future

Explanation:

we need to solve for the rate at which a current value of 57,000 dollars will generate 300,000 dollars after 18 years:

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

Principal 57,000.00

time 18.00

Amount 300,000

57000 \: (1+ r)^{18} = 300,000

r=\sqrt[18]{300,000/57,000} -1

r = 0.096653034

You might be interested in
Suppose Hyperpolis’s GDP increases by 15% and its inflation rate is 12%, while Superpolis’s GDP increases by 6% and its inflatio
strojnjashka [21]

Answer: c) Both economies grew at the same rate

Explanation:

The faster growing economy would be the one that saw a greater increase in Real GDP than the other.

Real GDP growth = Nominal GDP growth - Inflation growth.

Hyperpolis Real GDP growth = 15% - 12%

Hyperpolis Real GDP growth = 3%

Superpolis Real GDP growth = 6% - 3%

Superpolis Real GDP growth = 3%

<em>Both countries grew at the same rate of 3%. </em>

7 0
3 years ago
A detailed description of the money your business makes and expends every month for the first year is called a(n) A cash-flow st
Oksana_A [137]

Hello there,

A detailed description of the money your business makes and expends every month for the first year is called a(n)

Answer: Cash-flow statement.

6 0
3 years ago
Harrold is the project manager for his organization and he has seven people on his project team. Who is responsible for executin
charle [14.2K]

Answer: D. Project team

Explanation:

The project team is responsible for executing the project plan and creating the project deliverables. They are also in charge of contributing to the success of the project by making sure that the project objectives are achieved.

Each team mate has a specific role that he or she is assigned and the team should execute the tasks assigned to them successfully.

8 0
2 years ago
How does the velocity of money affect a national economy?.
qaws [65]

Answer:

when the velocity of money is high, it means each dollar is moving fast to purchase goods and services. It reflects high demand,which generates more production. When the velocity is low, each dollar is not being used very often to buy things.

8 0
2 years ago
What are prenuptial contracts?​
Monica [59]

Answer:

A written contract created by two people before they are married.

Explanation:

A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage.  

7 0
3 years ago
Read 2 more answers
Other questions:
  • On monday, the meteorologist forecast a 20 percent chance of rain, so sheryl took her umbrella to work. on friday, he reported a
    12·1 answer
  • Seeing a brand can cause consumers to automatically think of the attributes of the firm. True or False
    8·1 answer
  • Joining a Meetup group in your area allows you to
    12·1 answer
  •  As you track your progress, you'll act, observe, adjust, and then 
    5·2 answers
  • Compare Franklin Roosevelts ( a democrat) actions concerning the economy in the 1930s with Ronald reagans (a republican) actions
    9·1 answer
  • Kevin bought 265 shares of Intel stock on January 1, 2019, for $76 per share, with a brokerage fee of $165. Then, Kevin sells al
    14·1 answer
  • The risk-free rate of return is 2% and the expected return on the market portfolio is 8%. Oklahoma Oilco has a beta of 2.0 and a
    11·1 answer
  • On January 2, 2020, Pronghorn Company sells production equipment to Fargo Inc. for $52,000. Pronghorn includes a 2-year assuranc
    10·1 answer
  • Explain other roles of quality circle as part of continuous improvement to process and systems​
    7·1 answer
  • If Inga Ingerton's property, valued at $35,000, is assessed at 40% of its value, and the mill levy is 8.3%, then what is Inga's
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!