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pickupchik [31]
3 years ago
14

On January 1, 2016, you deposited $8,000 in a savings account. The account will earn 8 percent annual compound interest, which w

ill be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 10 years?
Business
1 answer:
Lisa [10]3 years ago
6 0

Answer:

The final value is $17,271.40

Explanation:

Giving the following information:

On January 1, 2016, you deposited $8,000 in a savings account. The account will earn an 8 percent annual compound interest, which will be added to the fund balance at the end of each year.

To calculate the final value we need to use the following formula:

Final Value= Present Value*(1+i)^n

PV= 8,000

i= 0.08

n=10

FV= 8,000*(1+0.08)^10= $17,271.40

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Which type of budget indicates more expenses than income?
Fittoniya [83]

Answer:

a deficit budget

Explanation:

A budget is a plan detailing how an individual, a firm, or a government will spend its anticipated revenue. In short, a budget is a plan of expenditure. Budgets are usually prepared at the beginning of a period to guide the use of available resources.

An ideal situation is when the planned expenditure equal to the expected income. Such a plan is called a balanced budget. However, in some circumstances, the planned expenditure exceeds the projected income. That budget is a deficit budget.

3 0
3 years ago
Describe the elements that must be present for the courts to rule that a contract is unconscionable?
Evgesh-ka [11]

The elements that would have to be in place for a contract to be unconscionable would be that

  • They were under pressure
  • They were misled
  • They did not have the right information

<h3>What is meant by a contract?</h3>

This is the term that is used to refer to the fact that two people or more have agreed to do business with themselves.

In order to be a contract, one person would have to create a bargain and the other would be the one that would agree to the terms.

It is unconscionable at the time when the contract is done and the person or one of the parties is found not to have been able to make the contract agreement at their right frame of mind. In this case, the law has the power to protect this party.

Hence they would have to rule in his favor. Therefore to be unconscionable, a contract would have to have been misled, have been made under duress and without the adequate information.

Read more on contracts here:

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7 0
1 year ago
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.
malfutka [58]
If you need to indicate the missing ammount of each letter in the grahp then it will be like follows:
 For the first case:
A = $9,600 + $5,000 + $8,000 = $22,600$22,600 + $1,000 – B = $17,000
B = $22,600 + $1,000 – $17,000 = $6,600$17,000 + C = $20,000
C = $20,000 – $17,000 = $3,000
D = $20,000 – $3,400 = $16,600
<span>E = ($24,500 – $2,500) – $16,600 = $5,400
</span><span>F = $5,400 – $2,500 = $2,900
</span>And now for the second case:
G + $8,000 + $4,000 = $16,000
G = $16,000 – $8,000 – $4,000 = $4,000$16,000 + H – $3,000 = $22,000
H = $22,000 + $3,000 – $16,000 = $9,000(I – $1,400) – K = $7,000(I – $1,400) – $22,800 = $7,000
<span>I = $1,400 + $22,800 + $7,000 = $31,200
</span>J = $22,000 + $3,300 = $25,300
K = $25,300 – $2,500 = $22,800$7,000 – L = $5,000
<span>L = $2,000</span>
8 0
3 years ago
What is productive efficiency? question 18 options:
slega [8]
<span>What is productive efficiency? A situation in which resources are allocated such that goods can be produced at their lowest possible average cost.

The resources are wanting to be used at the lowest possible average cost so that companies aren't having to give up the production of another item to produce that one. Being efficient while still maintaining good quality is the overall goal of productive efficiency. 
</span>
6 0
4 years ago
The payment made each period on an amortized loan is constant, and it consists of some interest and some principal. The closer w
qaws [65]

Answer:

The correct answer is False.

Explanation:

The amortization operation consists of regularly distributing the repayment of the principal (C0), together with the interest accrued throughout the life of the loan. The periodic payments made by the borrower are therefore intended to reimburse, extinguish or amortize the initial capital. This justifies the name of the depreciation transaction and the depreciation terms that are usually assigned to these payments.

8 0
3 years ago
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