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Eddi Din [679]
2 years ago
8

Paul Springer plans to save for a down payment for a house in 10 years. He will be able to invest $12,000 today in a money marke

t account that will pay him an interest of 5.50 percent on a monthly basis. How much will he have at the end of 10 years?
Business
1 answer:
Bad White [126]2 years ago
8 0

Answer:

The correct answer is $20,772.92.

Explanation:

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

Payment (pmt) = $12,000

Rate of interest = 5.50%

Rate of interest per month (r) = 5.50 / 12 months = 0.46%

Time = 10 years (n) = 120 months

So, the future value can be calculated by using following formula:

Future value =  PMT ×(1+r)^n

= $12,000 × ( 1 + 0.46% )^120

= $20,772.92

Hence, the future value at the end of 10 years will be $20,772.92.

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It is specially allocated to the manufacturing process so that the product could be carried forward to the next level of the process and at the end the finished product is ready

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What is the most important type of decision that the financial manager makes?
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In applying fiscal policy Conservatives will normally seek to limit government and will be inclined to ________ taxes (T) during
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Answer:

Decrease

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3 years ago
Several years ago, Castles in the Sand Inc. issued bonds at face value of $1,000 at a yield to maturity of 8%. Now, with 7 years
maxonik [38]

Answer:

$814.10

Explanation:

Calculation to determine what the price of the bond now

Using this formula

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Let plug in the formula

Bond price= [(.080 ×$1,000) / 2] ×[[1 / (.12 / 2)] – (1 / {(.12 / 2)[1 + (.12 / 2)](7 ×2)})] + $1,000 / [1 + (.12 / 2)](7 ×2)

Bond price= $814.10

Therefore the price of the bond now is $814.10

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During the "design" step of appreciative inquiry, participants ________.A) find a common vision of how the organization will loo
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The correct answer is A) find a common vision of how the organization will look in the future

Explanation:

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