1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
HACTEHA [7]
3 years ago
12

fowler credit bank is offering 6.7 percent compounded dailyon its savings accounts. If you deposit $7000 today, how much will yo

u have in the account value in 5 years? value In 10 years? value In 20 years?
Business
1 answer:
goblinko [34]3 years ago
3 0

Answer and Explanation:

The computation of the future value in each case is shown below:

a. For 5 years, its is

Future value = Present value × (1 + interest rate)^number of years

= $7,000 × (1 + 0.067 ÷ 365 days)^ 5 × 365 days

= $7,000 × 1.397897

= $9,785.28

b. For 10 years, its is

Future value = Present value × (1 + interest rate)^number of years

= $7,000 × (1 + 0.067 ÷ 365 days)^ 10 × 365 days

= $7,000 × 1.954117

= $13,678.82

c. For 20 years, its is

Future value = Present value × (1 + interest rate)^number of years

= $7,000 × (1 + 0.067 ÷ 365 days)^ 20 × 365 days

= $7,000 × 3.818574

= $26,730.02

You might be interested in
A running shoe company wants to reach "avid marathon runners" instead of just "sports fans". which targeting method should this
fiasKO [112]
The correct answer:
Custom affinity audiences

Source, explanation and more answers: https://goo.gl/LkZN6c
3 0
3 years ago
¿Qué nuevos productos puede incluir un restaurante en su oferta? ¿Por qué?
PtichkaEL [24]

Answer:it is d

Explanation:

5 0
3 years ago
Consider a portfolio consisting of only Duke Energy and Microsoft. The percentage of your investment (portfolio weight) that you
Leokris [45]

Answer:

(2) 4%

Explanation:

The portfolio is considered to be less risky if its volatility is low. The higher standard deviation the more risky is the project. For Duke Energy and Microsoft the investment portfolio required is risk free investment. To calculate the risk free rate we calculate using the formula;

Var Rp = x1 2Var R1 + x2 2Var R2 +2 x1 x2 Corr (R1, R2) SD1 SD2

Var Rp = 0.14 + 0.44 + 2 (1) * (-1) * 6% * 24%

Solving for this we get the risk free investment at 4%.

3 0
3 years ago
Janet is planning to purchase the stock of Mortensen Petro, Inc. She expects the stock to pay a $1.98 dividend next year, and sh
Arada [10]

Answer: Current Price $26.65

Explanation:

Rate of return = 12.5%

dividends = $1.98

Expected Price (in a year from now) Pe= $28

Current price = Pc

R = (Pe - Pc + D)/Pa

0.1250 = (28 - Pc + 1.98)/Pc

28 - Pc + 1.98 = 0.1250Pc

-Pc - 0.1250Pc = - 28 - 1.98

- 1.125Pc = -29.98

 Pc = -29.98/(-1.1250Pc) = 26.64888889

 Pc = $ 26.65

7 0
3 years ago
A couple has decided to increase their income from investments for when they retire in twenty years. Which is the best way they
algol13

Answer:

to enroll in a 401k and investing in the stock market.

Explanation:

According to my research on investment strategies, I can say that based on the information provided within the question their best options to accomplish their goal would be to enroll in a 401k and investing in the stock market. The 401K is a retirement fund that grows over years and the stock market also provides a decent ROI for your money, especially stocks like the S&P 500 which are the safest options and grow steadily over years.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
3 years ago
Read 2 more answers
Other questions:
  • How do communist and socialist political theories differ from each other?
    14·1 answer
  • A 10-year bond of a firm in severe financial distress has a coupon rate of 14% and sells for $900. The firm is currently renegot
    15·1 answer
  • MARKING BRAINLIST!!! THE NAMES HAVE TO BE REALLY GOOD!
    11·2 answers
  • Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annua
    11·1 answer
  • Brookman Inc.’s latest EPS was $2.75, its book value per share was $22.75, it had 315,000 shares outstanding, and its debt/total
    13·1 answer
  • On January 1, Year 1 Missouri Co. purchased a truck that cost $49,000. The truck had an expected useful life of 10 years and a $
    15·1 answer
  • Explain the meaning of “strong” currency and “weak” currency. what are the advantages and disadvantages of each?
    9·1 answer
  • What term describes the execution of business transactions in a paperless environment, primarily through the Internet
    5·1 answer
  • Exotic Roses, owned by Margarita Rameriz, provides a variety of rare rose bushes to local nurseries that sell Rameriz's roses to
    12·1 answer
  • The differences between actual and standard costs are called __________ variances. cost profit quantity volume 2. A favorable co
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!