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
Black_prince [1.1K]
2 years ago
5

Cameron has decided to diversify his investments in the following way: $3,000 in an account earning 2.7% simple interest $5,000

in a savings account earning 1.8% interest compounded annually $5,000 in a certificate of deposit earning 3.9% interest compounded quarterly How much total interest will Cameron earn on his investments at the end of 3 years
Business
1 answer:
Lubov Fominskaja [6]2 years ago
4 0

Answer:

The amount of total interest Cameron will earn on his investments at the end of 3 years is $1,171.80.

Explanation:

Let:

P = Principal

r = interest rate

t = number of years

n = number of times the interest is compounded in a year

Therefore, we have:

Interest on the account with simple interest after 3 years = P * r * t = $3,000 * 2.7% * 3 = $243

Interest on saving account after 3 years = (P * (1 + (r/n))^(n * t)) - P = ($5,000 * (1 + (1.8%/3))^(1 * 3)) - $5,000 = $90.54

Interest on certificate of deposit after 3 years = (P * (1 + (r/n))^(n * t)) - P = ($5,000 * (1 + (3.9%/3))^(4 * 3)) - $5,000 = $838.26

Total interest earned after 3 years = Interest on the account with simple interest after 3 years + Interest on saving account after 3 years + Interest on certificate of deposit after 3 years = $243 + $90.54 + $838.26 = $1,171.80

Therefore, the amount of total interest Cameron will earn on his investments at the end of 3 years is $1,171.80.

You might be interested in
Even though Yvonne is terrible at playing tennis, she could still consider it an interest of hers.
zhuklara [117]
This is true. She can learn the rules of the game, terms used, top tennis players, types of courts played on, the various tournaments, her favorite players.
Many people cannot play sports very well but still can be avid fans of the sport! Thank goodness!
8 0
3 years ago
Read 2 more answers
In a pure market economy: Question 8 options: A) production is determined by the interaction of supply and demand. B) the prices
LenaWriter [7]

Answer:

A) production is determined by the interaction of supply and demand.

Explanation:

A  pure market economy is an economy where production decisions are made by the forces of demand and supply. there is no intervention of the government in production decisions

Characteristics of a  pure market economy

  • Private ownership of means of production
  • freedom of choice. Producers are free to produce what they desire
  • competition among producers
  • no government intervention.

4 0
3 years ago
Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied
Flura [38]

Answer:

<u>c. $2,018.00</u>

Explanation:

Lower of cost or market is the inventory valuation method which requires to record the inventory at a value lower of

  • Initial cost of inventory ( Manufacturing cost or Purchasing cost )
  • Market value of the Inventory ( Net realizable value of the market )

Product__Quantity__Cost per unit__Market per unit___ Lower ____Value

Jelly _____150 ______$2.00 ______2.15___________ $2.00____ $300

Jam _____ 370 _____ $2.65 ______2.50 __________ $2.50 ____ $925

Marmalade 260 _____ $3.10 ______3.05  __________ $3.05 ____ $793

Total Value ___________________________________________<u>$2,018</u>

6 0
3 years ago
Explain organizational culture and how it impacts individual and organizational performance.
kozerog [31]

The term "organizational culture" describes the long-standing beliefs and values of an organization, as well as the staff members' views and the anticipated value of their work, which will affect their attitudes and conduct.

<h3>How does organizational culture affect individual and organizational performance?</h3>

Employee outcomes including productivity, performance, dedication, self-confidence, and ethical behavior have been linked to company culture. One of the key factors influencing an organization's performance is its culture, which has an impact on how its employees behave at work.

The performance of a company is significantly influenced by organizational culture. Organizational culture is viewed as a means of accomplishing tasks or as shared traits of organizations influencing the actions of organizational members and enhancing (or impeding) strategy achievement and performance.

Learn more about organizational culture here:

brainly.com/question/13996722

#SPJ4

5 0
2 years ago
A budget is best described as: ?a. a formal statement of a company's future plans usually expressed in monetary terms.?b. a mast
Sav [38]
It is a because if you think about it, you would budget for your future.


5 0
3 years ago
Read 2 more answers
Other questions:
  • ______ try to influence government to produce collective goods or services that benefit the general public. Equal opportunity in
    15·1 answer
  • If the unemployment rate is equal to the natural rate of unemployment, then the economy's
    15·1 answer
  • Hardy lumber has a capital structure that includes bonds, preferred stock, and common stock. which one of the following rights i
    5·1 answer
  • What will happen to the U.S. Housing Market?
    10·1 answer
  • In the diluted earnings per share computation, the treasury stock method is used for options and warrants to reflect assumed rea
    14·1 answer
  • A proximity sensor attached to the tip of an endoscope could reduce risks during eye surgery by alerting surgeons to the locatio
    8·1 answer
  • Which of the following statements about cash basis accounting and accrual basis accounting is correct? Multiple Choice
    10·1 answer
  • Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11 percent per year, and the loan calls
    7·1 answer
  • The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished g
    12·1 answer
  • The question of how a tax change might impact U.S. economic output is most closely associated with the study of
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!