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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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Lena [83]

Answer:

20 million gallons

Explanation

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When price is $1.5, tucker supplies 3 million gallons

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I hope my answer helps you

5 0
3 years ago
A small business produces a single product and reports the following​ data: Sales price ​$8.50 per unit Variable cost ​$5.25 per
ozzi

Answer:

The correct answer is Decrease by $5,500.

Explanation:

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

First we calculate the previous operating income, by using following formula:

Previous operating income = ($8.5 - $5.25) × 10,000 units - $22,000

= $10,500

Now, we will calculate the current operating income by using following formula:

New operating income = ($7.5 - $5.25) 12,000  units - $22,000

= $5,000

So, the change in operating income can be calculated as

Change in operating income = New operating income - Previous operating income

= $5,000 - $10,500

= -$5,500 ( Negative shows Decrease)

= Decrease by $5,500.

8 0
2 years ago
In an economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input.
Tresset [83]

Answer:

Correct answer is False for economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input

Since, both input and output are fixed, the input can’t be decreased. Each of them has to be fixed in directive to vary the association among them. (It can be fixed contribution, or fixed production or neither one of them is fixed)

3 0
3 years ago
Read 2 more answers
Alice is trying to save money, so she decides she’ll only buy renters insurance if and when something bad happens at her apartme
ahrayia [7]

Answer:

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Explanation:

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3 years ago
"A registered representative who has passed the Series 63 examination wishes to sell managed accounts to customers in differing
Anastaziya [24]

Answer:

The remaining part of the question is:

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B. The registered representative must pass either the Series 65 or Series 66 examination to sell managed accounts

C. The registered representative must post a surety bond prior to selling managed accounts

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<u>Correct Answer:</u>

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5 0
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