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
saw5 [17]
3 years ago
9

sarah Jones wants to deposit $2,000 per year into an account earning 4 percent for the next 3 years, so she can purchase a used

car at that time. What type of computation would she use to determine the amount she will have accumulated for this purchase?
Business
1 answer:
andre [41]3 years ago
5 0

Answer:

Compounding formula would be used here which is as under:

Future Value = Present value * (1+r)^n

FV = (PV is $2000) *  ( 1 + 4%)^ 3 number of years

Remember that r is the return that is 4% that Sarah Jones will receive.

So

FV = $2250

So this is the amount that she will receive after three years. I would recommend her to invest in ordinary shares (take higher risk for higher return) so that she is able to buy a better car.

You might be interested in
What type of forces is acting on an object that prevents the object from moving? (2 points) a Balanced forces b Friction forces
Otrada [13]
Friction is a force that slows or stops motion. Friction is the resistance to motion created by two objects rubbing against each other (the sled and the snow, for instance). Even air causes friction. Friction forces is your answer.
7 0
3 years ago
Read 2 more answers
The following is selected information from Pina Colada Corp. for the fiscal year ending October 31, 2022. Cash received from cus
natulia [17]

Answer:

Pina Colada's net income for the year ending October 31, 2022 is  $246,400.

Explanation:

Net income = Revenue recognized - Expenses incurred including depreciation

                    = $484,000  - $237,600

                    = $246,400

Therefore, Pina Colada's net income for the year ending October 31, 2022 is  $246,400.

7 0
3 years ago
Havermill Co. establishes a $300 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
AlekseyPX

Answer and Explanation:

The journal entry to record the establishment as follows:

On Sep 1

Petty cash Dr $300

     To Cash  $300

(being the establishment of the fund is recorded)

Here the petty cash would be debited and cash would be credited so that the proper recording could be done

4 0
3 years ago
According to the U.S. Census Bureau’s Current Population Survey, the mean and median 2014 income of people aged 25 – 34 years wh
juin [17]

Answer:

B. The mean is $51,754 and the median is $44,167. This is because economic variables are usually skewed to the right, which pulls the mean above the median.

Explanation:

The mean income of $51,754 obtained from the 2014 income of people aged 25 - 34 years with only a bachelor's degree is the average incomes.  It is obtained by adding all the incomes in the data set and then dividing by the number of values in the set. The median of $44,167 is the middle value when this data set is ordered from least to greatest while the mode is the number that occurs most often in the data set.

4 0
4 years ago
Your grandparents would like to establish a trust fund that will pay you and your heirs $130,000 per year forever with the first
posledela

Answer:

My grandparents deposit $5200000 today.

Explanation:

The annual return earned by trust fund = $2.5 percent

It is given that the trust will pay annually a certain amount for infinite period so annual pay  = $130000 per year.

Now we have to calculate the invested or deposited amount by grandparents today.

The present value of future constant annual payment over infinite period = (P/A, i%, n = infinity) or 1 / i%

The amount that should be deposited today :

= 130000 \times \frac{1}{2.5 \ percent} \\= 5200000

7 0
4 years ago
Other questions:
  • The housekeepers are expected to clean how many rooms per day in an average hotel?
    7·1 answer
  • Which one of the following is an example of the circular flow model and shows the interdependence of households and firms? a. Th
    10·1 answer
  • a. Complete an amortization schedule for a $32,000 loan to be repaid in equal installments at the end of each of the next three
    14·1 answer
  • Colorado Corporation has two classes of​ stock: common, ​$3 par​ value; and​ preferred, ​$30 par value.Requirements1.Journalize
    12·1 answer
  • Frito-Lay has developed a new line of snack foods. The company wants to place the products in as many outlets as possible; groce
    6·1 answer
  • Which of the following is not an example of an unhealthy company culture?
    11·1 answer
  • The need for change to automated sales at Bergman's most likely arises from a(n)_____ force
    9·1 answer
  • Advertising is NOT a good way to find harmful information about a product because a. it is not endorsed by the government. b. th
    6·1 answer
  • TETE
    10·1 answer
  • Which of the following is NOT one of the five groups in the diffusion of innovation curve
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!