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
swat32
3 years ago
6

Use the compound interest formula,     . kelly opened a savings account with $500 she received at eighth grade graduation 4 year

s ago. the account pays 2.5 percent compounded daily. how much should be in the account now? round to the nearest dollar.
Business
2 answers:
PolarNik [594]3 years ago
7 0

The answer is “$553”.

Kelly’s account pays = 2.5 percent compounded daily = 2.5/100 = 0.025

There are 365 days in one year, so 

<span>
i = .025/365 </span>

so number of days = n = 4(365) = 1460 

Amount = 500(1 + .025/365)^1460 

<span>=552.59 = $553</span>

Alik [6]3 years ago
7 0
<span>The formula for calculating annual compound interest, including principal sum, is: A = P (1 + r/n)^(nt) Where: A = the future value of the investment P = the principal investment amout or the initial deposit r = the annual interest rate n = the number of times that interest is compounded per year t = the number of years the money is invested or borrowed. So we have that P = $500 r = 2.5% = 0.025, t = 4 years and n = 365 (since the interest is compounded daily). Plugging into the eqn we have A = 500 ( 1 + (0.025)/(365))^(365*4) A = $552.58</span>
You might be interested in
Online Analytical Processing (OLAP) is included in many Business Intelligence (BI) software applications. We use this OLAP for a
Mumz [18]
Yes I think is b hope it’s works
6 0
3 years ago
Many people have argued that the skills needed to be successful in today's workforce have changed. What skills do you feel an in
inysia [295]
<h2>Technical skills are really essential. But upon technical skill, soft skills are mandatory to have a successful career.</h2>

Explanation:

Communication: The most important to covey from low level to high level and vice-versa.

Leadership skill: The see the growth visibly. An essential skill for both employer and employee.

Crisis management: Employee should possess this skill to handle challenging situation

Negotiation: Which is really important both for work life and personal life. This is required in all the levels of hierarchy.

Collaboration: Required to work as a team

Problem-solving: The skill which would be tested in various interviews in all the levels.

5 0
4 years ago
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods
SIZIF [17.4K]

Answer:

LIFO ending inventory $   544.00

Weighted average:      $    565.44‬

FIFO ending invetory:  $   590.00

Explanation:

weighted-average:

1,449 / 41 = 35,34

Ending Inventory

16 x 35.34

LIFo we pick the first 16 units as the latest were sold:

8 units at $ 33  =  $ 264

8 units at $ 35  =  $ 280

Total ending inventory $ 544

FIFo we pick the last as the first one are the first being sold

15 units at 37 = 555

1 unit at 35 =       35

total ending      590

7 0
3 years ago
Read 2 more answers
You are choosing between these four investments and you want to be​ 95% certain that you do not lose more than 8.00 % on your in
MakcuM [25]

Answer:

option B

Explanation:

In other to know how return fluctuation can be predicted with for instance, x%, predictability, one has to look at the normal distribution curve of return (average returns) to standard deviation of those returns. (check the attached file for additional details).

Hence, to be 95% sure that investment losses are less than 8% one needs to look at 95% of all returns which infact Mean return plos or minus 20. If the lower bound of this interval is less than 8% then the investment needs to be selected

check attached file for additional details

8 0
3 years ago
Why do companies ask for resume now instead of an application?
xenn [34]

Answer:

A resume includes all your special skills and extracurriculars, whereas an application only includes basic information. Resumes are people's "chance to shine," possibly impressing employers to increase the chances of hiring.

3 0
3 years ago
Other questions:
  • Big Walnut Nut Company has the right to buy back its preferred stock from its preferred stockholders; however, the company will
    10·1 answer
  • Astro Co. sold 20,500 units of its only product and incurred a $67,750 loss (ignoring taxes) for the current year as shown here.
    12·1 answer
  • The standards of conduct are issued by the __________ and supplemented by the ____________.
    12·1 answer
  • In a response to public outcry over the Internal Revenue Service’s (IRS) extent and abuse of power, the Federal government has d
    8·1 answer
  • What action is most likely to result in an increase in the money supply
    13·1 answer
  • Derrick delivers messages on his bike all over the busy, hilly streets of downtown san francisco. he is engaging in which type o
    14·1 answer
  • The map above shows air release, or emissions, sites across the United States. These sites include locations such as smokestacks
    11·1 answer
  • Which ones go in which box
    15·1 answer
  • Jeff wants to ship a small order to his friend he places to order by phone and his package is delivered the same day which wareh
    5·1 answer
  • Lusk Corporation produces and sells 15,800 units of Product X each month.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!