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
Nataly [62]
3 years ago
9

Karl Yates needs ​$24,000 to pay for the remodeling work on his house. A contractor agrees to do the work in 10 months. How much

should Karl deposit at 7.4​% in order to accumulate the ​$24,000 by that​ time?
Business
1 answer:
vlabodo [156]3 years ago
7 0

Answer:

$22614 needs to be deposited today.

Explanation:

Let x be the amount we will initially invest. The investment will be made for 10 months while the interest rate given here as 7.4% is the annual interest rate.

So,

  • 24000 = x * ( 1 + 0.074 )^10/12
  • 24000 / ( 1 + 0.074)^10/12 = x
  • x = $22613.84 rounded off to $22614

Thus if Karl makes an initial investment of $22614  at 7.4% annual interest rate, then he will be able to withdraw a combined Principal + Interest of $24000 after 10 months.

You might be interested in
1. A manufacturer of industrial motors has identified ten new prospective customers for its products and estimated each customer
Bess [88]

Answer:

a. the assigned sales potential to each person is 210

d. the total minimum over/above potential is 20

Explanation:

took it out from Spreadsheet Modeling and Decisions Analysis. hope this helps.

4 0
2 years ago
If the exchange rate for Mexican pesos has changed from 10 pesos to 9 pesos per dollar, _____.
cestrela7 [59]
When the exchange rate for the Mexican peso changes from 10 pesos to the U.S dollar to 9 pesos to the U.S. dollar, then the Mexican peso has appreciated and the U.S. dollar has depreciated.

When a currency appreciates<span>, it means it has increased in value relative to any other currency; </span>depreciate means<span> it has been weakened or fell in value relative to any other currency.</span>
5 0
3 years ago
Read 2 more answers
This leadership style can be seen by some employees to be lazy.Immersive Reader
Flura [38]

Answer:

Free-Rein Leadership Style

Explanation:

Check

4 0
2 years ago
Which of the following terms is a general description for a group of crimes?
s344n2d4d5 [400]

Which of the following terms is a general description for a group of crimes?  

A) Robbery

B) Larceny

C) Burglary

<u>D) Theft</u>

8 0
3 years ago
What item can a consumer expect to find in a retail store
Annette [7]
It would be "Meat to cook for dinner at home" that a consumer expect to find in a retail store since retail stores market to individuals and families, not large-scale projects. 
5 0
3 years ago
Read 2 more answers
Other questions:
  • The stock valuation model that determines the current stock price by dividing the next annual dividend amount by the excess of t
    14·2 answers
  • What percentage of american employees work for an employer that does not offer a traditional pension or retirement plan?
    11·1 answer
  • Industries is calculating its Cost of Goods Manufactured at​ year-end. Sharpland's accounting records show the​ following:
    7·1 answer
  • On July 10, 2020, Carla Music sold CDs to retailers on account and recorded sales revenue of $686,000 (cost $528,220). Carla gra
    12·1 answer
  • Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $8. Merchandise transactions fo
    12·1 answer
  • Which of the following scenarios will shift the investment demand curve right? Instructions: You may select more than one answer
    6·1 answer
  • Following are account balances (in millions of dollars) from a recent State annual report, followed by several typical transacti
    6·1 answer
  • Select all the correct answers.
    14·1 answer
  • DS Unlimited has the following transactions during August.
    14·1 answer
  • What is the financial impact on a company when a customer returns a product for a refund?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!