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
Yanka [14]
3 years ago
11

On January 1, 1980 Moses deposit $1850 into a savings account paying 5.6% interest compounded quarterly if he hasn’t made any ad

ditional deposits are with drawl since then and if the interest rate has stayed the same and what year did his balance hit 3700 according to the rule of 72
Business
2 answers:
Svetradugi [14.3K]3 years ago
5 0

Answer:

1992

Explanation:

Give a <3 ?

artcher [175]3 years ago
4 0

Answer: 12.86 years.

Explanation: Rule of 72 says that to know in how many years the amount can double can be done by using the interest rate. The rule of 72 says that 72 divided by the annual interest rate will give the number of years it will take to double the amount.

Rule of 72:

Rate of interest = 5.60%/4

Number of years to double the investment = 72 ÷ 1.4

Number of years to double the investment = 51.43/4 = 12.86 years

Therefore, it will take 12.86 years for the $1850 to get double to $3700.

You might be interested in
Analysis reveals that a company had a net increase in cash of $22.420 for the current year. Net cash provided by operating activ
antoniya [11.8K]

Answer: 4,840

Explanation: Analysis reveals that a company had a net increase in cash of $22,310 for the current year.

Therefore,

The year-end cash balance -  the beginning cash balance = $22,310

The beginning cash balance = The year-end cash balance - $22,310

The year-end cash balance is $27,150

The beginning cash balance =  $27,150 - $22,310 = $4,840

8 0
2 years ago
Rachel sells 100 shares short at $43. The sale requires a margin deposit equal to 60 percent of the proceeds of the sale. If the
andrew11 [14]

Answer:

23.25%; 62.01%

Explanation:

(a) Amount received:

= No. of shares × selling price

= 100 × $43

= $4,300

Sales deposit = 60% of Amount received

                        = 0.6 × $4,300

                        = $2,580

Amount paid = No. of shares × Purchase price

                      = 100 × $49

                      = $4,900

Therefore, Loss = $4,900 - $4,300

                           = $600

(b) If buys at $27, then

Amount paid = $27 × 100

                     = $2,700

Profit = $4,300 - $2,700

         = $1,600

Loss on investment:

= ($600 ÷ $2,580) × 100

= 23.25%

Profit on investment:

= ($1,600 ÷ $2,580) × 100

= 62.01%

7 0
3 years ago
In 2003 the presidents of the african countries of mali and burkina faso requested that rich countries apply free trade rules to
777dan777 [17]
In 2003 the presidents of the African countries of Mali and Burkina Faso <span>requested that rich countries apply free trade rules to those products where poor countries have a proven competitive advantage.</span><span>
</span>
5 0
3 years ago
For each of the six basic tactics, select the set of action steps (a to f) that describe the tactic. tactics action steps - repo
polet [3.4K]

1 ABCDEF- Reposition a product 2 ABCDEF- Marketing a product 3 ABCDEF- Scheduling production 4 ABCDEF- Modifying plant and equipment 5 ABCDEF- Raising money and paying debt 6 ABCDEF- Inventing a new product

5 0
3 years ago
Read 2 more answers
Find the area of a rectangle with the length measuring 8 km and the width measuring 5 km.
Gnoma [55]

Answer:

The answer is <em><u>C. 40 km^2</u></em>

<em><u>8km*5km = 40</u></em>

A = L*W

L = 8 km

W = 5 km

7 0
3 years ago
Other questions:
  • During 2016, Ayayai Corporation spent $144,000 in research and development costs. As a result, a new product called the New Age
    15·2 answers
  • Choose the option that best matches the description given.
    10·2 answers
  • Mike Samson is a college football coach making a base salary of $646,800 a year ($53,900 per month). Employers are required to w
    12·1 answer
  • Investing in a global stock fund is a good idea to
    11·1 answer
  • Employees at Between the Rounds believe that the company is fair to all employees, regardless of their age, gender, race, ethnic
    14·1 answer
  • What is a potential disadvantage of direct selling? A. Consumers must go out of their way. B. Some customers view direct selling
    12·1 answer
  • Using the continuous-debt method of setting your debt limit, you should be able get completely out of debt (other than your mort
    14·1 answer
  • Economists use the term inflation to describe a situation in which a. some prices are rising faster than others. b. the economy'
    9·1 answer
  • Several years ago, The Wall Street Journal reported that the winner of the Massachusetts State Lottery prize had the misfortune
    12·1 answer
  • Profit is only a liability for the business. Can you justify this?​
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!