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Whitepunk [10]
3 years ago
8

Jose received $400 for his birthday from his family. He wishes to buy a motorcycle and decides to use his birthday money towards

it. He'd like to have a bigger down payment so he invests his money in a saving account that pays 6% per year compounded quarterly. If Jose purchases the motorcycle in 3 years, how much will he have available towards the down payment for his motorcycle?

Business
1 answer:
arsen [322]3 years ago
4 0

Answer:

The correct answer is Future value with compound interest and $478.25.

Explanation:

According to the the scenario, the given data are as follows:

Present value (PV) = $400

Rate of interest = 6%

Rate of interest ( compounded quarterly) (rate) = 1.5%

Time period = 3 years

Time period ( compounded quarterly) ( Nper) = 12

So, we have to calculate Future value with compound interest because it is asking for a amount after 3 year.

So, we can calculate the future value by using financial calculator.

The attachment is attached below.

So, FV = $478.25

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Brad Edwards is earning $74,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost
arsen [322]

Answer:

The correct answer is $81,400.

Explanation:

According to the scenario, the given data are as follows:

Current earning = $74,000

As Brad is searching for a city which is 10% higher than current city then to maintain same living he has to earn 10% more than he earns.

So, total earning needed = $74,000 + 10% of $74,000

  =  $74,000 + $7,400

  = $81400

Hence, the total earning brad needed is $81,400.

8 0
3 years ago
Home Parties is paying an annual dividend of $1.78 every other year. The last dividend was paid last year. The firm will continu
yuradex [85]

Answer:

Home Parties is paying an annual dividend of $1.78 every other year. The last dividend was paid last year. The firm will continue this policy until two more dividend payments have been paid. Three years after the last normal dividend payment, the company plans to pay a final liquidating dividend of $32 per share. What is the current market value of this stock if the required return is 14.7 percent?

The current market value of this stock = $16.78.

Explanation:

Current market value of this stock = $1.78/1.147 + $1.78/1 .147∧3+ $32/1.147∧6

Current market value of this stock= 1.55187 + 1.78/1.509 + 132/2.27709

Current market value of this stock= 1.55187 + 1.17959 +  14.053

The current market value of this stock = $16.78.

8 0
3 years ago
The first federal retirement benefits were give to veterans of
schepotkina [342]
It's A. World War I
The United States has the most comprehensive system of assistance for Veterans of any nation in the world, with roots that can be traced back to 1636, when the Pilgrims of Plymouth Colony were at war with the Pequot Indians. The Pilgrims passed a law that stated that disabled soldiers would be supported by the colony.

Later, the Continental Congress of 1776 encouraged enlistments during the Revolutionary War, providing pensions to disabled soldiers. In the early days of the Republic, individual states and communities provided direct medical and hospital care to Veterans. In 1811, the federal government authorized the first domiciliary and medical facility for Veterans. Also in the 19th century, the nation's Veterans assistance program was expanded to include benefits and pensions not only for Veterans, but for their widows and dependents.

Following the Civil War, many state Veterans homes were established. Since domiciliary care was available at all state Veterans homes, incidental medical and hospital treatment was provided for all injuries and diseases, whether or not of service origin. Indigent and disabled Veterans of the Civil War, Indian Wars, Spanish-American War, and Mexican Border period, as well as the discharged regular members of the Armed Forces, received care at these homes.

As the U.S. entered World War I in 1917, Congress established a new system of Veterans benefits, including programs for disability compensation, insurance for service personnel and Veterans, and vocational rehabilitation for the disabled. By the 1920s, three different federal agencies administered the various benefits: the Veterans Bureau, the Bureau of Pensions of the Interior Department, and the National Home for Disabled Volunteer Soldiers.

The first consolidation of federal Veterans programs took place August 9, 1921, when Congress combined all World War I Veterans programs to create the Veterans Bureau. Public Health Service Veterans’ hospitals were transferred to the bureau, and an ambitious hospital construction program for World War I Veterans commenced.

World War I was the first fully mechanized war, and as a result, soldiers who were exposed to mustard gas, other chemicals and fumes required specialized care after the war. Tuberculosis and neuro-psychiatric hospitals opened to accommodate Veterans with respiratory or mental health problems. A majority of existing VA hospitals and medical centers began as National Home, Public Health Service, or Veterans Bureau hospitals. In 1924, Veterans benefits were liberalized to cover disabilities that were not service-related. In 1928, admission to the National Homes was extended to women, National Guard and militia Veterans.

The second consolidation of federal Veterans programs took place July 21, 1930, when President Herbert Hoover signed Executive Order 5398 and elevated the Veterans Bureau to a federal administration—creating the Veterans Administration—to "consolidate and coordinate Government activities affecting war veterans." At that time, the National Homes and Pension Bureau also joined the VA.

The three component agencies became bureaus within the Veterans Administration. Brig. Gen. Frank T. Hines, who had directed the Veterans Bureau for seven years, was named the first Administrator of Veterans Affairs, a job he held until 1945.

Dr. Charles Griffith, VA’s second Medical Director, came from the Public Health Service and Veterans Bureau. Both he and Hines were the longest serving executives in VA’s history.

Following World War II, there was a vast increase in the Veteran population, and Congress enacted large numbers of new benefits for war Veterans—the most significant of which was the World War II GI Bill, signed into law June 22, 1944. It is said the GI Bill had more impact on the American way of life than any law since the Homestead Act of 1862.

The GI Bill placed VA second to the War and Navy Departments in funding and personnel priorities. Modernizing the VA for a new generation of Veterans was crucial, and replacement of the “Old Guard” World War I leadership became a necessity.
3 0
3 years ago
Read 2 more answers
A stock you own earned: $200, $500, $100, and $700 over the last four years. What was the mean annual gain in value over the fou
Sphinxa [80]

Answer:

$375

Explanation:

A stock you own earned: $200, $500, $100, and $700 over the last four years.

We need to find the annual gain in value over the four years. We know that,

Mean = sum of observations/total no. of observations

Put all the values,

M=\dfrac{200+500+100+700}{4}\\\\M=\$ 375

So, the required mean annual gain is equal to $375.

6 0
3 years ago
You have $2,000 today in your savings account. How long must you wait for your savings to be worth $4,500 if you are earning 1.2
Alenkasestr [34]

Answer:

n= 65.27 years

Explanation:

Giving the following information:

Present value (PV)= $2,000

Future value (FV)= $4,500

Interes rate (i)= 1.25% annual compounding

<u>To calculate the number of years required to reach the objective, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)

n= ln(4,500 / 2,000) / ln(1.0125)

n= 65.27 years

3 0
3 years ago
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