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Korolek [52]
3 years ago
7

if Alexis invest $2,000 into a fund that earns 5.5% interest compounded annually, how long will it take for her investment to gr

ow into $100,000?
Business
1 answer:
madreJ [45]3 years ago
3 0

Answer:

73 years

Explanation:

To solve this problem, we can use the formula for the annual compound interest, which is:

A=P(1+r)^t

where:

A is the final amount after time t

P is the principal

r is the rate of interest

t is the time

In this problem, we have:

P=\$2000 is the principal

r=0.055 is the interest rate (5.5%)

We want to find the time t at which the amount of money is

A = $100,000

Therefore, we can re-arrange the equation and solve for t:

(1+r)^t=\frac{A}{P}\\t=log_{1+r}(\frac{A}{P})=log_{1+0.055}(\frac{100,000}{2000})=73

So, it will take 73 years.

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D. project manager
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All of these are potential options for business information management graduates. However, perhaps the most important one is that of project manager. Project management is closely related to business information management. People in this career are able to understand how to use technology to gather data that can help them desing better projects. They are also skilled at transforming this data ito meaningful information. With this information, they are also able to analyze and propose strategies that benefit their companies and projects.
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Your friend decides that he needs to receive a retirement payment of 70,000 dollars per year from a retirement fund that is proj
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Answer:

Explanation:

This is an Ordinary Annuity question. You can solve this using a financial calculator. I'm using (TI BA II Plus)

N; duration = 20

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3 years ago
__________ is made of materials that are poor conductors, such as glass, plastic, or rubber. They are used in an attempt to keep
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Read 2 more answers
A) Depreciation on the company's equipment for 2017 is computed to be $16,000.
OleMash [197]

Answer:

Adjusting Journal Entries:

a) Debit Depreciation Expense - Equipment $16,000

   Credit Accumulated Depreciation - Equipment $16,000

To record depreciation charge for the year.

b) Debit Insurance Expense $8,100

   Credit Insurance Prepaid $8,100

To record insurance expense for the year.

c) Debit Office Supplies Expense $2,583

   Credit Office Supplies Account $2,583

To record office supplies used for the year.

d) Debit Deferred Revenue $2,750

   Credit Service Revenue $2,750

To record revenue for work done this period.

e) Debit Insurance Expense $4,200

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To record insurance expense for the year.

f) Debit Wages Expense $5,000

  Credit Wages Payable $5,000

To record unpaid wages as of December 31, 2017.

Explanation:

Adjusting journal entries are entries made in the journal to accrue expenses and revenue in line with the accrual concept and the matching principle of U.S. GAAP.  The concept and principle require that expenses and revenue are matched in the period they were incurred and not when they were actually paid for or received.

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3 years ago
The cost method that will yield an ending inventory value that is somewhere between possible high and low costs (prices) using t
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The weighted average cost of capital is the cost approach that will produce an ending inventory value that is in between probable high and low costs (prices) using classic costing methods.

The weighted average cost of capital is the average cost of attracting investors, whether bonds or shareholders.

The computation weights the cost of capital depending on the amount of debt and equity used by the firm, providing a clear barrier rate for internal initiatives or future acquisitions.

The weighted average inventory cost is one of the approaches used in inventory valuation. It is computed by dividing the cost of products for sale by the number of units for sale. i.e The cost of the items for sale and the quantity of units for sale. Because it is based on averages, the ending inventory value is generally somewhere between high and low cost.

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