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seropon [69]
3 years ago
10

A person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount each

month for 5 years. This account will earn 6% per year(.5% per month)and will have $300,000 at the end of 5 year term. What is the amount of the monthly investment?
A. 4169

B. 4435

C. 4300

D. 5296
Business
1 answer:
lisov135 [29]3 years ago
3 0

Answer:

The correct answer is C: $4300

Explanation:

Giving the following information:

They will invest an equal amount each month for 5 years.

This account will earn 6% per year(0.5% per month)and will have $300,000 at the end of the 5-year term

We need to use the following formula:

final value= {A[(1+i)^n-1]}/r

A= cuota

i= monthly interest

n= 60 months

Isolating A:

A= (FV*i)/[(1+i)^n-1]

A= (300000*0.005)/[(1.005^60)-1]

A= 1500/0.34885= 4300

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Natasha_Volkova [10]

Answer:

i believe its C

HOPE ITS RIGHT!

7 0
2 years ago
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g A contractionary fiscal policy is a policy that: reduces aggregate demand by decreasing government purchases. reduces aggregat
AlladinOne [14]

Answer:

reduces aggregate demand by decreasing government purchases.

Explanation:

Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.

A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.

Generally, the national government of a country might use a contractionary policy to slow down the economy when inflation is high and gross domestic product (GDP) is growing too.

Hence, a contractionary fiscal policy is a policy that is typically used by the government to reduce aggregate demand by decreasing government purchases.

Aggregate demand (AD) can be defined as the total quantity of output (final goods and services) that is demanded by consumers at all possible price levels in an economy at a particular time.

An aggregate demand curve gives a negative relationship between the aggregate price level for goods or services and the quantity of aggregate output demanded in an economy at a specific period of time.

4 0
2 years ago
The primary focus for financial accounting information is to provide information useful for: Investing decisions Credit decision
matrenka [14]

Answer:

The correct answer is letter "A": Investing decisions (Yes); Credit decisions (Yes).

Explanation:

Financial Accounting refers to gathering, recording, summarizing and reporting financial data related to a company. The ultimate objective is to accurately report the financial picture and results of a company at a certain point in time and over a certain point in time.

<em>The information gathered is helpful for investors so they can make decisions over what course the firm should follow moreover when a company might need credit to finance its operations.</em>

6 0
3 years ago
SDJ, Inc., has net working capital of $2,170, current liabilities of $4,590, and inventory of $3,860. a. What is the current rat
Feliz [49]

Answer:

1.47 times ; 0.63 times

Explanation:

Given that,

Net working capital = $2,170,

current liabilities = $4,590

Inventory = $3,860

Current assets = net working capital + current liabilities

                         = $2,170 + $4,590

                         = $6,760

Current ratio = current assets ÷ current liabilities

                     = $6,760 ÷ $4,590

                     = 1.47 times

Quick ratio = (current assets - inventory) ÷ current liabilities

                   = ($6,760 - $3,860) ÷ $4,590  

                   = 0.63 times

8 0
3 years ago
Specifically, what kind of product is a buyer considering purchasing when the item is expensive and for personal use, and the bu
butalik [34]

Answer:

Shopping product

Explanation:

Shopping product is one of the four types of consumer products. Others convenience product, unsought product and specialty product.

Shopping products are products bought occasionally by buyers. Before consumers buys any products, they often times compare price, quality and brands with other products.

In shopping product, consumers spend much of their time comparing products of different brands which is aimed at getting value for their money.

Examples of shopping products are electronics, airline tickets, phones, etc.

6 0
3 years ago
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