Your grandmother invested one lump sum 17 years ago at 4.25 percent interest. Today, she gave you the proceeds of that investmen
1 answer:
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Answer:
Marketing Mix
Explanation:
According to my research on the strategic marketing planning process, I can say that based on the information provided within the question Molly is engaged in the Marketing Mix step of this process. This step focuses on Product Development, Pricing, Promotion, and Distribution. Which the ones in bold are what Molly is doing.
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Answer:
save each year to reach their goal is $2152.48
save each year to reach their new goal is $2869.97
Explanation:
given data
amount saved = 120,000
Rate of Interest earned = 12.0 %
time = 18th birthday
solution
we consider here annual savings is = P
we use here formula for future value of annuity that is
future value of annuity = P × ................1
here r is rate and n is time period
put her value
$120,000 = P ×
solve we get P = $2152.48
save each year to reach their goal is $2152.48
and
for $160,000 at 18th Birthday
we consider here annual savings = P
so from equation 1
we put here value
future value of annuity = P ×
$160,000 = P ×
solve and we get P = $2869.97
save each year to reach their new goal is $2869.97