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tatuchka [14]
3 years ago
6

Katie had a high monthly food bill before she decided to cook at home every day in order to reduce her expenses. She starts to s

ave $1,410 every year and plans to renovate her kitchen. She deposits the money in her savings account at the end of each year and earns 5% annual interest. Katie’s savings are an example of an annuity. If Katie decides to renovate her kitchen, how much would she have in her savings account at the end of eight years?

Business
1 answer:
LekaFEV [45]3 years ago
3 0

Answer: $13,464.23‬

Explanation:

Kate is saving a constant amount of $1,410 per year so indeed it is an annuity.

The amount she will have in the account after 8 years is the future value of the annuity after 8 years.

The formula is;

Future Value of Annuity = Annuity * (future value factor of annuity, 8 years, 5%)

= 1,410 * 9.5491

= 13,464.231‬

= $13,464.23‬

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Complete question is:

which of the following intermediaries are included in indirect marketing channels? (check all that apply.)

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7 0
1 year ago
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eimsori [14]

The Correct Response is Option B.

Inflation: can obscure relative price changes.

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8 0
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What factors , other than tax incentives, should companies evaluate before deciding to invest in a particular country ?
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Political risk: This risk refers to the political decisions made within a country that might result in an unanticipated loss to investors. While economic risk is often referred to as a country's ability to pay back its debts, political risk is sometimes referred to as the willingness of a country to pay debts or maintain a hospitable climate for outside investment. Even if a country's economy is strong, if the political climate is unfriendly (or becomes unfriendly) to outside investors, the country may not be a good candidate for investment.</span></span><span>


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