Tory invested $600 a year for three years, then $700 a year for an additional four years. In year 9, she withdrew $1,500. She wi
1 answer:
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Answer:
14 Troy Ounces of Gold is Worth
U.S. dollars (USD) 24,984
Euros (EUR) 22,105
British pounds (GBP) 18,756
Explanation:
How much is an ounce of 14 gold?
Image result for price of gold 14oz
The current stock price for pure gold (. 999 gold) per ounce is $1786.69. That means that one ounce of 14K gold is worth $1046.26.
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Is Gold a Good Store of Value?
For long periods of time, yes, gold is an excellent store of value.
Until 1971, the U.S. was on the gold standard. This meant that the price of gold was fixed at $35 per troy ounce. Since that time however, the price of gold has increased by about 8% per year, more than twice the rate of inflation, and much more than bank interest rates.
This doesn't mean that there haven't been ups and downs. Between 1980–2000, the price of gold declined considerably.
However, with governments printing more and more money due to the coronavirus and pension crises, it seems likely that gold will continue to hold its value well.
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Troy Ounces USD Value
14.00 $24,984
14.01 $25,001
14.02 $25,019
14.03 $25,037
14.04 $25,055
14.05 $25,073
14.06 $25,091
14.07 $25,108
14.08 $25,126
14.09 $25,144
14.10 $25,162
14.11 $25,180
14.12 $25,198
14.13 $25,216
14.14 $25,233
14.15 $25,251
14.16 $25,269
14.17 $25,287
14.18 $25,305
14.19 $25,323
14.20 $25,340
14.21 $25,358
14.22 $25,376
14.23 $25,394
14.24 $25,412
Troy Ounces USD Value
14.25 $25,430
14.26 $25,448
14.27 $25,465
14.28 $25,483
14.29 $25,501
14.30 $25,519
14.31 $25,537
14.32 $25,555
14.33 $25,572
14.34 $25,590
14.35 $25,608
14.36 $25,626
14.37 $25,644
14.38 $25,662
14.39 $25,680
14.40 $25,697
14.41 $25,715
14.42 $25,733
14.43 $25,751
14.44 $25,769
14.45 $25,787
14.46 $25,804
14.47 $25,822
14.48 $25,840
14.49 $25,858
Troy Ounces USD Value
14.50 $25,876
14.51 $25,894
14.52 $25,912
14.53 $25,929
14.54 $25,947
14.55 $25,965
14.56 $25,983
14.57 $26,001
14.58 $26,019
14.59 $26,036
14.60 $26,054
14.61 $26,072
14.62 $26,090
14.63 $26,108
14.64 $26,126
14.65 $26,144
14.66 $26,161
14.67 $26,179
14.68 $26,197
14.69 $26,215
14.70 $26,233
14.71 $26,251
14.72 $26,268
14.73 $26,286
14.74 $26,304
Troy Ounces USD Value
14.75 $26,322
14.76 $26,340
14.77 $26,358
14.78 $26,376
14.79 $26,393
14.80 $26,411
14.81 $26,429
14.82 $26,447
14.83 $26,465
14.84 $26,483
14.85 $26,500
14.86 $26,518
14.87 $26,536
14.88 $26,554
14.89 $26,572
14.90 $26,590
14.91 $26,607
14.92 $26,625
14.93 $26,643
14.94 $26,661
14.95 $26,679
14.96 $26,697
14.97 $26,715
14.98 $26,732
14.99 $26,750
Answer:
Ans. The annuity that will be equivalent to the publisher´s advance would be $26.40 per year, for 9 years at 7% interest rate.
Explanation:
Hi, first, let´s bring that $500 to be paid in 9 years to present value, we need to use the following formula.
Where: r is our discount rate (7%) and n the periods from now when she will receive that $500 amount. This should look like this.
Ok, so the equivalent amount of money today of those $500 in nine years is $271.97, but the author wants $100 today so the remaining amount has to be used to find the equal annual payments to be made in order to be equivalent to re remaining balance ($171.97). We now need to use the following equation.
And we solve for "A" like this
Therefore, the equivalent amount of money of $500 in 9 years is $100 today and $26.40 every year, at the end of the year, for nine years.
Best of luck.