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
VladimirAG [237]
3 years ago
15

David saves money from his teaching job to buy a new boat when he retires in 20 years. The boat will cost $30,000. He has $12,00

0 in his simple interest savings account. To reach his goal by retirement, David should
move his money to a compound interest account ( T/F)
Business
1 answer:
LuckyWell [14K]3 years ago
7 0

Answer:

True

Explanation:

The main advantage of a compound interest account is that the interest that you earn also earns interest, so the total amount of earned interest increases.

For example, a $10,000 account earning simple interest at a 4% rate will earn $4,000 in ten years. While the same amount in a compound interest account will earn $4,802.

You might be interested in
How many dollars does Johnson & Johnson make every 20 seconds?
Alex Ar [27]

Answer:

Johnson & Johnson make $51,433.28 every 20 seconds

Explanation:

<u><em>The complete question is</em></u>

I'm playing a riddle game thing and one of the questions is

"How many dollars does Johnson & Johnson make every 20 seconds?"

I found that they make 81.1 billion dollars yearly, but I have no clue how to get it to 20 seconds.

Remember that

1 year=365 days

1 day=24 hours

1 hour=60 minutes

1 minute=60 seconds

so

Convert year to seconds  

(365)(24)(60)(60)=31,536,000\ sec

1 billion=1,000 millions

1 billion=1*10^9

81.1 billion dollars=81.1*10^9 dollars

we have

81.1*10^{9} \frac{\$}{year}

Convert to $/sec

81.1*10^{9}\frac{\$}{year}=81.1*10^{9}/31,536,000=2,571.66\frac{\$}{sec}

Multiply by 20 sec

2,571.66(20)=\$51,433.28

therefore

Johnson & Johnson make $51,433.28 every 20 seconds

3 0
3 years ago
Which of the following statements explains what information bank customers will most typically receive when securing loans?
SIZIF [17.4K]

Answer:

<u><em>A.</em></u>

<u><em>The loan will be set for a given range, and the bank will establish a rigid payment plan</em></u>

Explanation:

Hope this helps:)

7 0
2 years ago
A division has the following data: Sales $320,000, Variable costs $200,000, and Fixed costs $140,000. If the division were elimi
pashok25 [27]

Answer:

Effect on income= $120,000 loss

Explanation:

Giving the following information:

Sales $320,000

Variable costs $200,000

Fixed costs $140,000.

None of the fixed costs are avoidable. Therefore, they shouldn't be taken into account to make the decision.

Effect on income= Sales - varaible cost

Effect on income= 320,000 - 200,000= $120,000 loss

4 0
3 years ago
Which of the following refers to the percentage of an individual​ customer's purchase of a product over time within a single​ br
Sergio [31]

Answer:

c. Share of customer

Explanation:

Share of customer is the percentage which a company gets from the customer when he/she continually purchase the products. it helps in retaining customer which helps in customer relationship management and can help marketers increase the percentage which they get from the customer.

5 0
3 years ago
Suppose Clampett, Inc. terminated its S election on August 28, 2018. At the end of the S corporation's short tax year ending on
charle [14.2K]

Answer:

correct option is $5,750

Explanation:

given data

amounts were both zero

suspended loss = $20,750

additional capital contributions = $5,750

to find out

How much loss may J. D. deduct in 2019

solution

loss may J. D. deduct in 2019 is $5,750

we know that post transmination period end of 15 September

it is extended here due date of final tax return

it is standardize so that J.D. only deduct loss to extend of his contribution on march

so 2nd contribution make on 15 September

so correct option is $5,750

6 0
3 years ago
Other questions:
  • Supply curves tend to be
    12·1 answer
  • The production team of Widget Corp., a furniture manufacturer, has determined the amount of wood, metal, fabric, labor hours, ca
    12·1 answer
  • For homeowners in upper-income brackets whose gains exceed $500,000 ($250,000 for a single taxpayer), the capital gains tax rate
    14·1 answer
  • Which department manages the process of converting or transforming resources into goods or services?
    13·1 answer
  • A company is about to begin production of a new product. The manager of the department that will produce one of the components f
    8·1 answer
  • Suppose VS's stock price is currently $20. A six-month call option on VS's stock with an exercise price of $15 has a value of $7
    8·1 answer
  • For 115 consecutive days, a process engineer has measured the temperature of champagne bottles as they are made ready for servin
    14·1 answer
  • Free here are someee brainly
    6·2 answers
  • When price increases, quantity supplied
    5·1 answer
  • Supports the incident action planning process by tracking resources, collecting/analyzing information, and maintaining documenta
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!