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
Alex17521 [72]
3 years ago
11

You put $10000 in an account earning 5%. After 3 years, you make another deposit into the same account. Four years later (7 year

s after initial $10000) the account balance is $20000. What was the amount of the deposit at the end of year 3
Business
1 answer:
ikadub [295]3 years ago
7 0

Answer:

money deposited after end of 3rd year is $4877.75  

Explanation:

given data

initial amount  = $10000

rate = 5%

time = 3 year

after 7 year account balance = $20000

solution

we consider here money deposited after end of 3rd year is = x

first we get here compounded amount after 3 years as

compounded amount = initial amount × (1+r)^{t}    ................1

compounded amount = 10000 × (1+0.05)^{3}

compounded amount = $11576.25

so at 7 year account balance is

account balance = ( compounded amount + x )  × (1+r)^{t} ....................2

$20000  = ( $11576.25 + x ) × (1+0.5)^{4}  

solve it we get

x =  $4877.75  

so money deposited after end of 3rd year is $4877.75  

You might be interested in
Why does actual group productivity never equal potential productivity?
Rama09 [41]

The answer to the question is (C) time is lost to coordinating and organizing group members.

Actual group productivity is never quite equal to the expected productivity mainly because there are other processes involved in the team that the team members must do in order to reach the set common goal. Some of these processes usually include determining how to do the work and distributing the assignments to the right person, as well as setting the roles in the team.

4 0
2 years ago
A firm seeking a growth strategy designed to increase sales of existing products to current​ customers, nonusers, and users of c
PIT_PIT [208]

Answer:

The correct answer is B Market penetration

Explanation:

Market penetration strategy is one of the four growth strategies and it involves focusing on selling your existing products or services into your existing markets to gain a higher market share.

3 0
3 years ago
A dwelling with a replacement cost of $150,000 was insured under a Homeowners 3 policy for $105,000 at the time the roof was des
Mazyrski [523]

Answer: $13125

Explanation:

The amount that the insurer will pay to settle this loss will be calculated thus:

= Insured claim × Insurance value / 80% of replacement value

= 15000 × 105,000 /80% × 150000.

= 15000 × 105,000 / 120000

= 13125

Therefore, the insurer will pay $13125

3 0
3 years ago
The ____, which said broadcasters must operate in the "public convenience, interest or necessity," became the foundation for all
Norma-Jean [14]
<span>Radio Act of 1927 The FCC still uses this standard as part of its consideration when issuing broadcast licenses.</span>
4 0
3 years ago
A production possibilities frontier identifies the dollar cost of producing a good or service in an economy. True or False
belka [17]

Answer:

A production possibilities frontier identifies the dollar cost of producing a good or service in an economy.

True

Explanation:

Cost of producing could be envisaged through budgeting where the variable cost, fixed cost and total cost is expected to be calculated either through rough estimate.

3 0
3 years ago
Other questions:
  • Bob is a project manager, and he is feeling pressure because of an impending deadline. he views time as a valuable resource and
    13·1 answer
  • Assume the price of product Y (the quantity of which is on the vertical axis) is $15 and the price of product X (the quantity of
    10·1 answer
  • Jake is in the stands at a football game with his girlfriend. He decides that he needs to ask her something very personal, so he
    8·2 answers
  • Luxury Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States includin
    15·1 answer
  • Make a list of at least three items that are important to double check before submitting a loan application to underwriting. Lis
    11·1 answer
  • Tall Guys Clothing has a 45-day collection period. Sales for the next calendar year are estimated at $2,100, $1,600, $2,500 and
    15·1 answer
  • At best buy they have a 42" TV that sells for $1250 and is on sale 15% and sales tax is 6.5%.What is the final cost?
    11·1 answer
  • So, if you find that revenue goes up when you use an elasticity of 2 to estimate the effect of changing the fee from $8 to $16,
    14·1 answer
  • Albert Inc. has both common and preferred stock outstanding. Which should be listed first in the stockholders' equity section of
    15·1 answer
  • A property has a restriction dating back to the 1920s that limits the sale of the property to persons of a particular race. The
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!