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Bond [772]
3 years ago
6

To fund your dream vacation, you plan to save $1,475 per year for the next 15 years starting one year from now. If you can earn

an interest rate of 6.25%, how much will you have saved for your vacation?
Business
1 answer:
muminat3 years ago
3 0

Answer:

FV= $34,993.05

Explanation:

Giving the following information:

Annual deposit= $1,475

Number of periods= 15 years

Interest rate= 6.25%

<u>To calculate the future value, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {1,475*[(1.0625^15) - 1]} / 0.0625

FV= $34,993.05

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forsale [732]

Answer:

Realistic aspect

Explanation:

Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.

This is because following Cosmo making his dream come true of buying the property that his restaurant occupies, the idea that he could rent out the storefront next to the restaurant for added income is a REALISTIC Aspect of Goal Getting.

This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan

7 0
3 years ago
Suppose that a demand curve exhibits two points. Initially, at price P 0 , the quantity demanded is Q 0 . When price changes to
dsp73

Answer and Explanation:

The formula to compute the price elasticity of demand is as follows:

= Percentage change in quantity demanded ÷ percentage change in price

At Price P0, the Quantity demanded is Q0

And,

At Price P1, the Quantity Demanded is Q1

Just like this, it could be computed

\frac{Q_1 - Q_0}{(Q_1 + Q_0)/2} divided by \frac{P_1 - P_0}{(P_1 + P_0)/2}

4 0
3 years ago
Calculate the equivalent annual costs of (a) overhauling and operating the Maracas for 12 more years (with and without the new e
dangina [55]

Answer: See attachment

Explanation:

7 0
3 years ago
Prepare a bank reconciliation: ABC Enterprises gathered the following information prior to reconciling their cash balance per bo
lozanna [386]

Answer: ADJUSTED CASH BALANCE PER BOOK as of January 31, 2018 is  A) $7,950

Explanation:

ABC Enterprises reconciled cash balance per books (internal accounting records as of January 31, 2018.

Cash balance as per company book      $7,500

Add:

Notes receivable collected by bank         $1000

Deduct:

NSF check                                                    $500

Bank service charge                                    $50

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7 0
3 years ago
Harry's competitive math team has been ranked the number one team for the past 40 days. His team competes in a math competition
Ray Of Light [21]

Answer:

Answer for the question:

Harry's competitive math team has been ranked the number one team for the past 40 days. His team competes in a math competition at least once per day and competes in no more than 60 competitions in these 40 days. Show that there is some day $i$ and some day $j$ such that between $i$ and $j$, exactly 19 matches have been played.

is given in the attachment.

Explanation:

7 0
4 years ago
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