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
SOVA2 [1]
3 years ago
5

b. Assuming that college costs continue to increase at 4% per year and that all her college savings are invested in an account p

aying 7% interest, what would be the amount of money that she will need to have available at age 18 to pay for all four years of her undergraduate education? (1.5 pt)
Business
1 answer:
irinina [24]3 years ago
8 0

Answer:

savings is  $97107.29

Explanation:

given data

college costs increase = 4% per year

invested paying r = 7%

available age g =  18

solution

we consider here Current Fees per year = $12500

we get here future value for 18 year that is

future value = 12500 × (1+0.04)^{18}     ...............1

future value FV = $25322.71

and

present value of growing annuity find the four years college fee

so here

Total Money =  (\frac{FV}{r-g})\times (1-(\frac{1+g}{1+r})^t)\times  (1+r)     ................2

so put here value

Total Money = (\frac{25322}{0.07-0.04})\times (1-(\frac{1+0.04}{1+0.07})^4)\times (1+0.07)

Total Money = 97107.288177

so that savings is  $97107.29

You might be interested in
TB MC Qu. 3-73 The following accounts are from last year's books ... The following accounts are from last year's books of Sharp
Katen [24]

Answer:

Answer is $ 132,200        

Explanation:        

Direct material used is amount debited to Work in Process account lesser than 154,400.

As the Total material issued is 154,400 which includes the direct and indirect material both.

5 0
3 years ago
Read 2 more answers
Which is not a major advantage of a sole proprietorship?
krek1111 [17]

Answer:

The correct answer would be option D, Unlimited Personal Liability.

Explanation:

When a person sets up a new business on his own, without having any other person's involvement, or without any partnership, then he is solely responsible for all the profits he earns and all the losses he bears. He is completely responsible for all the liabilities, which is no doubt not a major advantage of being a sole proprietor. He has the full control over the business, he is the only decision maker, he also enjoys the profits solely, but besides all of these advantages, when it comes to debts or any damages, he is the one solely responsible for these debts and damages. This means he has the unlimited personal liability.

7 0
3 years ago
Every society faces​ trade-offs because we live in a world of scarcity. Suppose a​ student-athlete has the opportunity to earn ​
MrRa [10]

Answer:

The opportunity cost of the student-athlete returning to college next year is $1,000,000

Explanation:

Opportunity costs is the benefit that the student-athlete misses out  when choosing one alternative over another.

In this case,  the opportunity costs is playing for a minor league baseball​ team (​$1,000,000) because is the higher offer between the alternatives.  

6 0
3 years ago
An individual operating on the reality principle seeks ________.
butalik [34]
<span>This individual seeks a rational way to achieve personal gratification. In this Freudian principle it is generally thought that the ego is able to control the pleasure seeking part of the human component (known as the id). This control enables the human to live within reality in a rational way; to meet the needs and demands of the surrounding world.</span>
3 0
4 years ago
Similar to other not-for-profits, government healthcare organizations are able to raise funds through equity investments and the
erik [133]

Answer:

False

Explanation:

Non-profit organisation are exempted by the government from any sort of taxes to improve their operations and effectiveness. Government health organisation sometimes raise funds through equity investments, and any funds generated thought equity financing comes under tax bracket. In this regard, government healthcare organisations which raise funds by using equity financing are not exempted from income or property tax.

5 0
3 years ago
Other questions:
  • If you had a bank account, which two methods of completing transactions do you think you would use most frequent?
    7·2 answers
  • If short-run marginal cost and average variable cost curves for a competitive firm are given by SMC = 2 + 4Q, and AVC = 2 + 2Q,
    9·1 answer
  • Marigold’s Pest Control Products has the following information available: net income, $15800; cash provided by operations, $2170
    10·1 answer
  • What is the introduction of management ?​
    7·1 answer
  • Which of the following is an example of a sunk​ cost? A. The amount a company pays for labor to produce its product. B. The oppo
    6·1 answer
  • Which one of the following could not be called income?
    8·1 answer
  • Bruce was driving to work yesterday when he was nearly run off the road by a speeding furniture delivery truck. On the back of t
    7·1 answer
  • Employment law is the large body of laws, administrative rulings, and precedents that encompass all areas of the employer/employ
    14·1 answer
  • Your store sells four varieties of 20 oz. sodas costing $1.25, $1.45, $1.10 and 1
    15·1 answer
  • assume the price of a product sold by a purely competitive firm is $5. given the data in the accompanying table, at what output
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!