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Mama L [17]
3 years ago
13

Frances loves shopping for clothes, but considering the state of the economy, she has decided to start saving. At the end of eac

h year, she will deposit $700 in her local bank, which pays her 9% annual interest. Frances decides that she will continue to do this for the next 5 years. Frances’s savings are an example of an annuity. How much will she save by the end of 5 years, rounded to the nearest whole dollar?
Business
1 answer:
Shtirlitz [24]3 years ago
7 0

Answer:

Future Value= $4,189.30

Explanation:

Giving the following information:

Investment= $700 annual

Interest rate= 9%

Frances decides that she will continue to do this for the next 5 years.

To calculate the final value, we need to use the following formula:

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

A= annual deposit

FV= {700*[(1.09^5)-1]} / 0.09

FV= $4,189.30

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taurus [48]

Answer:

Typical of a cross section of the population

Explanation:

Each state in the U.S have state legislators who are elected by the citizens of the states who are eligible to vote therefore most state legislators are a typical cross section of the population in the state that they are serving as  a legislator in the state legislative arm of Government.

The state legislature helps in approving the budget, initiating impeachment processes and also deliberate issues brought to it by the Governor. the legislature initiates tax legislation in the states hence one can say the most state legislators represents the cross section of the population.

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How does working capital impact a firm’s value?
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Answer:

Explanation:

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Chavin Company had the following results during August: net operating income, $350,000; turnover, 2; and return on investment (R
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Answer:

$1,458,333.33

Explanation:

Chavin company has a net operating income of $350,000

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= 24/100

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Therefore, the average operating assets can be calculated as follows

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Average assets= $350,000/0.24

= $1,458,333.33

Hence the Chavin's company average operating assets were $1,458,333.33

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Ingrid is single with no dependents. She has been in the hospital with a coma for the last 2 weeks. Her bills are piling up and
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A Durable Power of Attorney can be used to allow another person to sign contracts, pay bills and take care of the banking on behalf of Ingrid. The Durable Power of Attorney remains effective even in circumstances when Ingrid becomes incapacitated. However, Ingrid needs to be mentally competent by the time of signing the Durable Power of Attorney.

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In a traditional economy , what are the economic decisions based largely on?
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