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
mash [69]
3 years ago
14

You deposit $100 in an account that pays 6 percent annual interest, compounded quarterly. What will your deposit grow to in 3 ye

ars? $119.56 $134.69 $ 170.91 $ 192.53 $ 216.89
Business
1 answer:
Burka [1]3 years ago
3 0

Answer:

$119.56

Explanation:

We will use compound interest formula to solve this problem.

The formula is:

F=P(1+r)^t

Where

F is the future value

P is the present amount

r is the rate of interest per period

t is the number of periods

Here,

F is the value we want, after 3 years

P is the present amount, $100

r is the rate of interest per quarter (per period)

Given r = 6% annually, so that would make:

6%/4 = 1.5% per quarter, or 1.5/100 = 0.015

Also, t is the number of quarters in 3 years, that would be 4*3 = 12

Now, substituting, we get our answer:

F=P(1+r)^t\\F=100(1+0.015)^{12}\\F=100(1.015)^{12}\\F=119.56

The first answer choice is right, $119.56

You might be interested in
Timothy is looking for suppliers for his cheese-making business. He examines a list of suppliers whom he can contact with a busi
elixir [45]

Answer: Supplier selection process

Explanation:

Supplier selection process is the scenario where an individual or a company wants to purchase an item and they contact various vendors who do such business, and asking them for prices, details; generally the requirements for the items they want, they now choose out of the various vendors options, that which matches what they want.

Timothy is in the supplier selection process, where he's evaluating every detail from the vendors based on his request, with an option to request from any of them that matches his request.

7 0
3 years ago
We typically hear of the gains from trade coming through specialization wherein each nation produces more of and exports that go
Brut [27]

Answer:

Generally theoretical models work only in theory. E.g. perfect competition models exist in theory but no market is really a perfect competition market.

The Ricardian model or the H-O model, or other trade models make the mistake of assuming that resources can be allocated at will and almost immediately, e.g. a fisherman can immediately become an engineer and start developing apps. Or a farmer that produces corn or rye (very popular examples) can suddenly start working at a factory producing bluejeans.

In real life, it doesn't happen. Also, trade models never consider natural trade barriers and extra costs related to trade. E.g. it is not the same to sell $10,000 worth of corn (you need a very large truck) than selling $10,000 worth of jeans (all you need is a small delivery van). In real life, trade is not simple, it is actually extremely complicated.

E.g. everyone knows that manufacturing goods in America is not efficient, at best companies can be less inefficient, but no manufacturing company in America is really efficient if we compare them to foreign companies. Even people who work in manufacturing industries know this, but they want to continue working in them. They want the companies to keep producing in America and they want to keep their jobs. Not everyone in America has a college degree in computer programming, finances, is able to design robots, or is a doctor, etc.

In real life, efficient industries have to exist alongside inefficient industries, and the whole economy suffers from it. But it is unavoidable. In the long run, the economy will eventually shift resources to more efficient industries,  but it takes a long time, and a lot of people and companies will be against it. E.g. every year there are less shoe manufacturers in America, and eventually sometime in the future there will be none.

7 0
3 years ago
Direct finance is a transaction between two parties where one party lends directly to the other​ party, whereas indirect finance
mamaluj [8]

Direct financing involves the financial market and indirect financing involves intermediaries. In the financial market, companies put their shares for sale and investors buy them. This is a direct financing mechanism for companies, which raise funds by sharing their own capital in traded shares.

On the contrary, if a company seeks bank financing, there will necessarily be intermediation by third parties, such as banks. In the middle market, economic agents deposit their money with the bank, and the bank uses it to lend to companies. This is intermediating a financing. Both types of financing are widely used, all will depend on the structure and purpose of each company in the search for financing.

8 0
3 years ago
A registered representative says in a conversation with a prospect that a certain mutual fund "has no initial sales load." The f
slava [35]

Answer:

C. The RR must explain the contingent deferred sales load to the prospect

Explanation:

7 0
3 years ago
Kohlman Company began its operations on March 31 of the current year. Projected purchases for the first three months of business
bulgar [2K]

Answer:

c. $146,400 and 206,560.

Explanation:

Monthly Purchases are as follows;

April =$156,800

May= $195,200

June= $217,600

Since Admin expenses are paid every month,

April =$28,800

May = $28,800

June =$28,800

75% of April purchases will be paid in April . Use these to calculate the payments;

Pmts

April = 75%* $156,800 = $117,600

add Admin expenses to find total cash payments;

APRIL = $117,600+ $28,800 = $146,400

In May,20% of April purchases will be paid ,  75% of  May purchases will also be paid plus admin expenses. Use these to calculate the payments;

May= (20%* $156,800) + (75% * $195,200) + $28,800

MAY = 31360 +146400 +28800 = $206,560

7 0
3 years ago
Other questions:
  • Traditionally, if sam, who is 17 years old, purchases a television from a store, signs a 11-month contract, and then drops it on
    9·1 answer
  • Lisa changed her filing status on last year's tax return, and her standard deduction went up. Which of these could have been the
    15·1 answer
  • 1. an activity which seeks to earn a profit by providing a good or service is known as a(n): a. industry. b. corporation. c. bus
    5·1 answer
  • Effie company uses a periodic inventory system. details for the inventory account for the month of january, 2013 are as follows:
    8·1 answer
  • With a​ downward-sloping demand​ curve, average revenue is equal to price A. because the firm must lower its price to sell addit
    14·1 answer
  • Omega.com sold 25 jet skis for $7000.which cost$5000 The entry to record the sale would be
    7·1 answer
  • An economic principle states that the lower the price of a product, the greater the quantity consumers will wish to purchase. Th
    14·1 answer
  • Black Company's unadjusted and adjusted trial balances on December 31 of the current year are as follows
    11·1 answer
  • A customer owns an ABC Call option. ABC declares a dividend for shareholders on record July 5th. The last day to exercise the op
    7·1 answer
  • If a business decides to act outside of the prevailing ethical norms of that community.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!