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
evablogger [386]
3 years ago
10

Suppose you invest semiannually for 25 years in an annuity that pays 5% interest, compounded semiannually. At the end of the 25

years, you have $500,000. How much of this total is interest? Enter your answer rounded to the nearest hundred dollars.
Business
1 answer:
bonufazy [111]3 years ago
7 0

Answer:

$354,500

Explanation:

First find the amount invested ie the Present Value as follows :

n = 25 × 2 = 50

i = 5%

P/yr = 2

Pmt = $0

Fv = $500,000

Pv = ?

Using a Financial Calculator to enter the amounts as above, the Present Value is $145,471

Total Interest = Future Value - Present Value

                      = $500,000 - $145,471

                      = $354,529

Thus interest is $354,500 (nearest hundred dollars).

You might be interested in
A company's Cash account shows a balance of $5,600 at the end of the month. Comparing the company's Cash account with the monthl
Likurg_2 [28]

Answer:

cash               750 debit

     note receivable         510 credit

    NSF check                 240 credit

-- to record increases of cash from reconciliation --

bank fees expense    44 debit

                       cash                    44 credit

-- to record decreases of cash from reconciliation --

Explanation:

cash account     5,600

bank fees               (44)

NSF                        240

bank collected      510

adjusted cash:   6,306

We adjust based on the unknow information for the company like fees, collection and NFS found. we could also adjust for mistake but for this time, there isn't any.

5 0
3 years ago
Bo Borg is the vice president of purchasing for Crater Corp. He has authority to enter into purchase contracts on behalf of Crat
g100num [7]

Answer: Crater will be bound because of Borg's apparent authority.

Explanation:

Crater Corp. will be bound to the contract since Bo Borg has the apparent authority as the acting Vice President of purchasing. Even though he went over the agreed amount that was over 2 million in the contract. Since the Shady company was unaware that he had exceeded his authority the contract will stay in place. If Shady company had of known that he did not have the final say and needed approval the result of the transaction would of been different.

7 0
3 years ago
Corn refiners buy shelled corn and convert it into a variety of products, including high-fructose corn syrup. the refiners then
Karo-lina-s [1.5K]

Refiners are in the secondary sector of the market because they are taking inputs and making them into products for consumption.

7 0
3 years ago
Why are brand names and advertising important features of monopolistic​ competition? A. Both of these techniques are needed to c
GenaCL600 [577]

Answer:

B. Both of these techniques can be used to increase the demand for the product.

Explanation:

A catchy brand name and adequate marketing of a product plays a vital role in the relative demand of that product. Coca cola for example has properly advertised its products for decades now and when one thinks of beverage, you think Coke. It's been embedded in ones mind and that is the advantage of proper advertising and proper brand naming.

7 0
3 years ago
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni
Degger [83]

Answer:

510,000 units

Explanation:

Note: The data in the questions are merged together and they are first separated before answering the question as follows:

                                  Beginning Inventory        Ending Inventory

Raw material                      52,000                            62,000

Finished goods                  92,000                           62,000

The explanation to the answer is as follows:

Beginning inventory of finished goods + Units of finished goods manufactured = Ending inventory of finished goods  + Units of finished goods sold

Units of finished goods manufactured = Ending inventory of finished goods  + Units of finished goods sold  - Beginning inventory of finished goods

Therefore, we have:

Units of finished goods manufactured = 62,000 + 540,000 - 92,000 = 510,000

7 0
3 years ago
Other questions:
  • The federal government uses the revenue from the fica (federal insurance contribution act) tax to pay for
    5·1 answer
  • For banquets, meals are placed on plates using a "plating belt" that moves plates past staff who place food on each plate. If pl
    11·1 answer
  • Which two factors explain why Great Britain’s economy experienced a period of stagnation after World War I?
    5·2 answers
  • In 2019, Alliant Corporation acquired Centerpoint Inc. for $352 million, of which $62 million was allocated to goodwill. At the
    14·1 answer
  • On January 1, 2020, Piper Corp. purchased 40% of the voting common stock for of Betz, Inc. for $2,000,000 and appropriately acco
    15·1 answer
  • Assume that there are four consumers A, B, C, and D, and the prices that each of them is willing to pay for a glass of lemonade
    6·1 answer
  • If GDP is expected to increase at a steady rate of 3% per year, how many years would it take for living standards to double
    12·1 answer
  • 1. The following headline appeared in the London Times, "England's sheep population nearly destroyed by famine!" How will this a
    13·1 answer
  • Amy currently volunteers at her local hospital. She would like to one day
    13·2 answers
  • Larue buys an ipod for $150 and a new laptop for $1,200, and signs a one-year employment contract for a $4,800 monthly salary to
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!