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aleksandr82 [10.1K]
3 years ago
10

When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I invest half of it in gold, the va

lue of which was growing by 7% per year, and the other half in certificates of deposit (CDs), which were yielding 3% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 14 years? (Round your answer to the nearest cent.)
Business
1 answer:
77julia77 [94]3 years ago
5 0

Answer: $20,478.78

Explanation:

In 14 years the investment will be,

Gold

10,000/2 = 5000

Then use the compound interest formula

5000 * (1+0.07)^ 14 = $12,892.67

For Certificates of Deposits.

Use the Compound interest formula

Rate and period are in years. Convert to semi annual basis.

3%/ 2 = 1.5%

14 * 2 = 28 periods

= 5000 ( 1+ 0.015) ^ 28

= $7,586.11

Add both

=$12,892.67 + $7,586.11

= $20,478.78

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Altogether, there is $824,900 recieved!

Explanation:

Please mark brainliest! Have a nice day!

6 0
3 years ago
For a normal​ good, a decrease in demand is represented as a
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Answer:

C. leftward shift of the demand curve. 

Explanation:

A normal good is a good whose demand increases when income increases and falls when income falls.

The demand curve is represented as downward sloping curve. It slopes downward because the higher the price, the lower the quantity demanded and the lower the price, the higher the quanirty demanded.

A fall in demand is represented by a leftward shift of the demand curve. A rise in demand is represented by a rightward shift of the demand curve.

Factors that leads to a leftward shift of the demand curve:

1. Decrease in income

2. Change in taste - if consumers prefer other products

3. Season

4. Fall in price of substitutes

I hope my answer helps you

7 0
3 years ago
Tulip Corporation purchased equipment for $ 54 comma 000on January​ 1, 2017. On December​ 31, 2019, the equipment was sold for $
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Answer:

Gain/loss= $1,000 loss

Explanation:

Giving the following information:

Original price= $54,000

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Seling price= $25,000

The gain or loss from selling an asset depends on the book value.

Book value= original price - accumulated depreciation

Book value= 54,000 - 28,000= 26,000

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6 0
3 years ago
Are these competitive markets?
ruslelena [56]
I believe it’s A I hope this helps!
5 0
3 years ago
______ ratios measure how much operating income an organization is able to generate relative to assets, owners' equity, and sale
tankabanditka [31]

According to business strategy, the <u>Profitability</u> ratios measure how much-operating income an organization can generate relative to assets, owners' equity, and sales.

<h3>What are Profitability ratios?</h3>

Profitability ratios s a form of financial method or procedure in which firms assess or evaluate the ability to generate income or revenue based on the capacity and resources.

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Hence, in this case, it is concluded that the correct answer is "<u>Profitability ratio."</u>

Learn more about the Profitability ratio here: brainly.com/question/25253887

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2 years ago
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