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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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The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The compan
miss Akunina [59]

Answer:

Check the explanation

Explanation:

Particulars                                                      Amt

Opening Cash                                               51907

Add: Cash Received (13400+4500)            17900

Less: Payment to supplier                            5500

Less: Operating Expenses Paid                   48950

Closing Cash Balance                                  15357

8 0
3 years ago
"Slumming" meant:
Andru [333]

Answer:

A.

Explanation:

The word 'slumming' can be defined as an act of going to socially low-level area and spending time there either with the purpose to do charity or just out of curiosity.

Harlem is a city located in the neighbourhood of New York City after blacks migrated to the place the city became a restricted area to go.

But in the early 1920s, the whites began slumming to Harlem. They left their sophisticated ways to get a share of black life. They packed themselves in speakeasies, dancehalls, jazz clubs, etc.

So, the correct answer is option A.

8 0
3 years ago
he following information pertains to Benedict Company. Assume that all balance sheet amounts represent average balance figures.T
ra1l [238]

Answer:

b. 14.0%

Explanation:

NET INCOME  

Sales  $ 100.000

Net Income  $ 25.000

Preferred Stock  -$ 4.000

Net Income to Stockholders' equity—common $ 21.000   14%

Net Income to Stockholders         $ 21.000

                                                      ===========  =   14%

Stockholders' equity—common    $ 150,000

5 0
3 years ago
Please help me quickly
zhannawk [14.2K]

Answer:

in all my school years i never seen this and i am in 12th grade

8 0
3 years ago
The Federal Reserve mandates that banks must keep a certain percentage of money on hand at particular times. What is this referr
mars1129 [50]

Answer:

a. Reserve requirement

Explanation:

As we know that the bank must hold the money percentage of the deposits made in cash as per the federal reserve so the same we called as a reserve requirement.

It is mandatory to keep the specific percentage for particular times

Therefore as per the given situation, the option a is correct

And, all the other options are incorrect

3 0
2 years ago
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