Answer:
Balance after 30 years = $151,018.50
Explanation:
In order to calculate this, we will calculate the future value on an amount invested, gaining interest over the years of investment, and this is given by:
where:
FV = future value
PV = present value
r = interest rate
t = time in years.
Hence the future value is calculated as follows:
1. For the first 10 years at 7% interest:
7% interest = 7/100 = 0.07
2. For the last 20 years at 9.5%(0.095) interest:
Note that for the remaining 20 years, the present value (PV) used = 24,589.392, as ending balance after the first 10 years
Total Future value earned = $151,018.50
Answer:
From the bank statement of $23000 the needs are:
- cell phone plan = $45
- rent = $400
- car insurance = $60
- Electric bill = $60
- car payment = $250
Explanation:
A need is something needed for an individual to live a fulfilling life without adverse effect. if a need is not fulfilled it can cause an adverse effect like sickness,death or it might cause a fine or penalty.
cell phone plan is an need because without a cell phone plan a cell phone user might be unable to communicate properly with his business associates and family who might not always be with him and he might be unable to pass along proper and timely information as well
Rent is necessary because housing is one of the most important needs of a man without rent plan there would be no proper housing
car insurance: insurance helps to reduce the burden of accidents on the car owner. if he fails to pay his insurance when due. if the car is caught up with eventualities of accident, the insurance company might not respond to him
Electric bill : this is a very important need as well in America. failure to pay the electric bill results to shortage of electricity and electricity is vital to everyday living.
car payment: the regular payment of car loans helps to escape the penalty of late payment hence this is a need.
Answer:
The correct answer is False.
Explanation:
Every client expects and wishes to be treated with correction in an establishment. Feel well received, appreciate that it is important for the company, perceive that it is well valued. He also hopes that the relationship will be pleasant and that the bidder will fulfill his commitments.
These factors are valued in the customer service both face-to-face or telephone or virtual: courtesy, credibility, speed, personalization, professionalization and the tangible aspect of the service.
It is necessary to give a courteous treatment to the client. Courtesy is reflected in the consideration shown to customers. Treat them with the respect they deserve.
Answer:
Option (d) $5,549.96
Explanation:
Data provided in the question:
Annual payments = $800
Time, n = 12 years
Discount rate, r = 7% = 0.07
Now,
PV2 = Annual payments × ((1 - (1 + r)⁻ⁿ)) ÷ r ) × (1 + r)
= $800 × ( (1 - ( 1 + 0.07)¹²)) ÷ 0.07) × (1 + 0.07)
PV2 = $6,354.15
Therefore,
Present value today = PV2 ÷ (1 + r )²
= $6,354.15 ÷ (1 + .07)²
or
= $5,549.96
Hence,
Option (d) $5,549.96
