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Vitek1552 [10]
3 years ago
13

Carrie wants to go on her family reunion in four years. The cost of the cruise they are planning to take is $5,000. She has foun

d an account with a 7% compounding interest rate, but she is unsure how much money to invest now so that she will have the money she needs in four years. How much should she invest now
Business
1 answer:
Slav-nsk [51]3 years ago
5 0

Answer:

She Should Invest $3,815 now.

Explanation:

Future value is the accumulated value of principal and compounded interest earned in specific period on an specific return rate applied to present value. It is calculated by following formula:

FV  = PV x ( 1 + r )^n

FV = Future Value = $5000

PV  = Present Value = ?

r = return rate = 7%

n = number of years = 4 years

$5000 = PV  ( 1 + 7% )^4

$5000 = PV  ( 1 + 0.07 )^4

$5000 = PV  ( 1.07 )^4

$5000 = PV  x 1.311

PV  = $5,000 / 1.311

PV  = $3,815

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Answer: The correct answer is "b. comb and sort the fibers.".

Explanation: Once these were complete, the next step would be to <u>comb and sort the fibers.</u>

The first step was to gather and clean the fibers and then comb and classify the fibers according to their nature.

8 0
3 years ago
Samantha and Bethany are purchasing their first home and reviewing the terms of a 15-year mortgage with their lender, Jim, at Fi
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Jim is doing what is<u> legally </u>right by providing this information to Samantha and Bethany.

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A federal statute known as the Truth in Lending Act (TILA) was passed in 1968 with the intention of assisting customers in their interactions with creditors and lenders. The Federal Reserve Board implemented the TILA through a number of regulations. The act's disclosure requirements for information like the annual percentage rate (APR), the length of the loan, and the overall costs to the borrower are some of its most significant features. The borrower must be made aware of this information clearly on all documents before signing them, including occasionally on periodic billing statements.

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4 0
2 years ago
Alex is starting a career in ux and wants to be able to specialize in a particular ux design role and focus on one project from
meriva

A small start-up is a good fit for Alex.

Startups are frequently internet- or technology-based firms with broad market appeal. On the other hand, you don't need a sizable market to expand into in order to run a small firm. All you need is a market, and you must be able to effectively contact and service every member of that market.

Despite their tiny size, startups can have a big impact on the expansion of the economy. Startups are the epicenters of the invention; they generate jobs, which increases employment and boosts the economy; and they have a noticeable influence on the cities in which they settle.

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8 0
2 years ago
Gail K. Company manufactures waterproof cell phone covers. During the current month, the purchasing manager purchased $26,700 of
Marianna [84]

Answer:

D : $88,800

Explanation:

<u>Cost of goods manufactured :</u>

Direct Material used in production                         $ 21,300

Indirect Material used in production                       $  3,700

Direct Labour                                                           $ 34,100

Direct Labour                                                           $  5,900

Manufacturing overhead                                       <u> $ 16,600 </u>

Total Manufacturing cost                                        $ 75100

Add:Beginning Work in process inventory            $7,200

Less: Ending Work in process inventory                <u>$ 0       </u>

Cost of Goods Manufactured                                 <u>$88,800</u>

6 0
3 years ago
If he wanted the cash award of each of the five prizes to be $45,000 and his estate could earn 7% per year, how much would he ne
Stels [109]

Answer:

The answer is $3,214,285.71

Explanation:

Price of each award is $45,000

And there are 5

Therefore, we have 5 x $45,000

=$225,000.

So, $225,000 is the future value.

Rate of return(r) in 7% and it is being assumed that it is forever.

So, so how much will be needed to fund his prizes(present value)?:

PV = FV/r

= $225,000/0.07

=$3,214,285.71

5 0
3 years ago
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