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mart [117]
3 years ago
13

Your goal is to have $7,500 in your bank account by the end of six years. If the interest rate remains constant at 8% and you wa

nt to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.) $1,022.37 $1,226.84 $1,124.61 $817.90
Business
1 answer:
Sergio [31]3 years ago
8 0

Answer:

$1,022.37

Explanation:

We need to sovle for the quota which genereated a futute value of 7,500 dollars after 6 years assuming a constant 8% interest rate.

FV \div \frac{(1+r)^{time} - 1 }{rate} = C\\  

FV  $7,500.00  

time            6 years

rate            0.08

7500 \div \frac{(1+0.08)^{6} -1 }{0.08} = C\\  

<em>C  $ 1,022.365 </em>

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Antonio would like to replace his golf clubs with a​ custom-measured set. A local sporting goods megastore is advertising custom
AlexFokin [52]

Answer:

Antonio and Replacement of Golf Clubs

a. He should cash the CD and use the proceeds to finance part of the golf clubs.

b. The reason is that he would pay more in in-store financing totaling $37.06 per annum than the net interest he would generate from the CD totaling $23.18 per annum.  And Antonio would incur a net loss of $13.88 if the CD was renewed unlike the $5.74 if the CD were not renewed.

Explanation:

Option 1: Renew Certificate of Deposit (CD):

Interest earned  = $33.48 ($600 * 5.58%)

Taxes                  =   10.30 ($33.48 * 30.75%)

Net Income         = $23.18

Cost of in-store financing = $37.06 ($710 * 5.22%)

Net Loss(overall) = $13.88 ($37.06 - $23.18)

Option 2:

Sale-off of CD = $600

Net financing required = $110 ($710 - $600)

Cost of financing = $5.74 ($110 * 5.22%)

6 0
3 years ago
Because saudi arabia and australia have ____, saudi arabia can specialize in the production of crude oil and petroleum products,
Helga [31]

Because saudi arabia and australia have <u>absolute advantage</u>, saudi arabia can specialize in the production of crude oil and petroleum products, and australia can specialize in the production of wool

<h3>What is government?</h3>

Government can be defined as a group of people with the authority to govern a country.

So therefore, because saudi arabia and australia have absolute advantage, saudi arabia can specialize in the production of crude oil and petroleum products, and australia can specialize in the production of wool

Learn more about government:

brainly.com/question/18464634

#SPJ4

5 0
1 year ago
How data of new hired empployees are saved?
zaharov [31]

Answer:

<u><em>The HRM saves the data</em></u>

Explanation:

The Human resource management (HRM) department handles recruitment for most companies that have such a department. Therefore whenever a company recruits employees the employee data such as;

  1. Address,
  2. Family details,
  3. Medical records,
  4. Age etc,

is sent to the HRM and is usually kept within the organization for internal usuage only in a database or company's internal website.

7 0
3 years ago
If The Wall Street Journal lists a stock's dividend as $1, then it is most likely the case that the stock: Multiple Choice pays
REY [17]

Answer:

paid $.25 per share per quarter for the past year

Explanation:

A stock is ownership rights purchased by investors in a public company. Holders of stock are called stockholders and they are regarded as owners of the company.

Stockholders are paid dividends. Dividends are a proportion of a company's profits paid to shareholders.

If the stock's dividend is $1, it means it either paid $1 the past year or paid $.25 per share per quarter for the past year

8 0
3 years ago
The evaluation process of creative outputs is usually subjective; the advertising or brand manager relies on qualitative conside
timama [110]

Answer:

true

Explanation:

  • The process of evaluation of a creative product is usually subjective; The advertising or brand manager relies on qualitative considerations for evaluation.
  • Evaluation is the process of critically evaluating a program. It collects and analyzes information about the program's activities, characteristics and outcomes. Its purpose is to make decisions about the program, improve its effectiveness, and inform programming decisions

7 0
3 years ago
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