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Semmy [17]
3 years ago
15

How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?

Business
1 answer:
Sav [38]3 years ago
4 0

Answer:

Interest earn= $80.14

Explanation:

Giving the following information:

PV= $1,000

i= 7%

n= 3

<u>First, we will calculate the future value at the second year:</u>

FV= PV*(1+i)^n

FV= 1,000*(1.07^2)

FV= 1,144.9

<u>Now, for the third year:</u>

FV= 1,144.9*1.07= 1,225.04

Interest earn= 1,225.04 - 1,144.9= $80.14

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It could be that you type the numbers accidentally and that should have made the numbers appear. Well if you want to get rid of it you just need to remove that on the soft copy and then print the resume again. Doing so should have eliminate those 0`s printed on the resume. 


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3 years ago
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NDS Industries is evaluating a project with an initial investment at Time 0 of $640,000. The present value of the levered cash f
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Answer: $67600

Explanation:

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3 years ago
Which of the following is a characteristic of a management control​ system? A. It deals with coordinating planning across the or
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Answer:

D. Helps managers to act rapidly and with autonomy

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3 0
3 years ago
Sixty years ago, your mother invested $3,800. Today, that investment is worth $430,065.11. What is the average annual rate of re
LuckyWell [14K]

Answer:

8.2%

Explanation:

As we know that:

r = (Future Value / Present Value)^(1/Time)   - 1

Here

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Present Value is $3,800

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3 0
3 years ago
William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2019 AGI before the IRA
Paul [167]

Answer:

The maximum contribution is $3,850

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The contribution eliminate isn't pertinent if the single citizen under age 50 doesn't take an interest in the business supported arrangement and most extreme measure of $5,500 can be asserted for charge year 2019.  

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