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AysviL [449]
4 years ago
14

The rickerts decided to set up an account for their daughter to pay for her college education. the day their daughter was born,

they deposited $1000 in an account that pays 1.8% compounded annually. beginning with her first birthday, they deposit an additional $750 into the account on each of her birthdays. which expression correctly represents the amount of money in the account n years after their daughter was born?
Business
1 answer:
Free_Kalibri [48]4 years ago
7 0
After n years, the deposit made at birth will have a value equal to;

FV1 = C(1+r)^n = 1000(1+0.018)^n = 1000(1.018)^n

After n years, the  yearly deposits made at every birthday will have a value equal to;

FV2 = P{(1+r)^n-1}/r = 750{(1+0.018)^n-1}/0.018 = 41666.67 {(1.018)^n-1} = 41666.67 (1.018)^n -41666.67

Total FV = FV1+FV2 = 1000(1.018)^n+41666.67(1.018)^n-41666.67 = 42666.67 (1.018)^n - 41666.67
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Freet Inc. is preparing its cash budget for November. The budgeted beginning cash balance is $21,000. Budgeted cash receipts tot
Bezzdna [24]

Answer and Explanation:

The Preparation of company's cash budget is shown below:-

Beginning cash balance     $21,000

Add: Cash receipt                $100,000

Total cash available             $121,000

Less: Cash disbursement    $99,000

Excess of cash available

over disbursement               $22,000

Add: Borrowings                   $33,000

Cash balance, ending          $55,000

7 0
3 years ago
Anne Lockwood, manager of Oaks Mall Jewelry, wants to sell on credit, giving customers 3 months to pay. However, Anne will have
Alja [10]

Answer:

15.18%

Explanation:

Calculation for the nominal annual rate

First step is to find EFF% using this formula

EFF%=[1+(Nominal rate percentage/Numbers of months in a year )]^Numbers of months in a year

Let plug in the formula

EFF%=[1+(15%/12)^12

EFF%=(1+0.0125)^12

EFF%=(1.0125)^12

EFF%=1.1608×100%

EFF%=116.08%

Second step is to find Rnom compounding quarterly of 116.08% using this formula

Rnom compounding quarterly = (1+(R/4)^4

Let plug in the formula

Rnom compounding quarterly= (116.08%)^(1/4) Rnom compounding quarterly= 1+ R/4

Hence,

Rnom compounding quarterly = 15.18%

Therefore Anne Lockwood should quote her customers with Rnom compounding quarterly of 15.18%

6 0
3 years ago
Which of the following statements concerning risk are correct? I. Nondiversifiable risk is measured by beta. II. The risk premiu
Arturiano [62]

Answer:

i and iii

Explanation:

Nondiversifiable risk or systemic risk is risk that cannot be eliminated by diversifying investments in a portfolio. It is the risk inherent in the industry. it is measured by beta in the CAPM.

Diversifiable risks are risks that can be avoided by diversifying investments in a portfolio. It is also known as business risk

4 0
3 years ago
Caleb owns a small business in houston. What should caleb do to encourage creativity among his employ?
avanturin [10]

Caleb should put as many promising ideas to test and encourage creativity among his employ.

<h3>Does encourage mean support?</h3>

Encourage is defined as to give someone hope, confidence or support.

<h3>What makes a person encouraging?</h3>

Once we understand what the issue is, an important part of encouraging someone is to validate their feelings, and try to understand why they feel that way. I personally find that one of the least effective ways to encourage someone is to just say something like 'it'll be fine' or 'don't worry, you'll be great'.

Learn more about encourage creativity here:

<h3>brainly.com/question/12702673</h3><h3 /><h3>#SPJ4</h3>
7 0
2 years ago
16. Probett's Auto Body Repair Shop had revenues that averaged $90,000 per week in April and $80,000 per week in May. During bot
Advocard [28]

Answer:

productivity of labor increased by 16.24% in May respect to April

Which means the company was experimenting diminished return in their labor facot as reducing their quantity increase the marginal revenue generated

Explanation:

April productivity:

revenue $90,000

labor used: 40 x 6 + 25 x 4 = 340

productivity of labor:

90,000 / 340 = 264,70 each hour of labor generate 264.70 dollar of revenue

May productivity:

revenue 80,000

labor used: 40 x 6  +  2 x 10 = 260

productivity:

80,000 / 260 = 307,6923 = 307.69

each hour of labor gneerated $307.69 dollar of revenue

<em><u /></em>

<em><u>percentage change</u></em>

307.69/264.70 - 1 = 0,16241

3 0
3 years ago
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