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
Komok [63]
3 years ago
9

You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000

at the end of each month, how many months will it take for your account to grow to $310,000
Business
1 answer:
vlada-n [284]3 years ago
5 0

Answer: 81.1 months

Explanation:

You can use the NPER function on Excel to calculate this:

Rate = 7%/12 months = 7%/12

Pmt = -3,000 to represent the monthly deposit

FV = 310,000

Number of months should be: 81.1 months

You might be interested in
Explain whether you agree or disagree with the following statement.
butalik [34]

Answer: AGREE

Explanation:

A Monopoly faces no competition and are the only sellers of the product they sell. If firms in an industry successfully engage in collusion, the resultant effect will definitely be not unlike a Monopoly because they will set prices as a single firm, control output as a single firm and essentially run the market as a single firm.

They will sell at a rate where the Marginal Revenue curve will be below the demand curve. This will mean a higher price than a competitive market which was probably the main incentive for collusion.

A recent example would be the collusion between BMW, Daimler and Volkswagen, to hinder technological progress in improving the quality of vehicle emissions in order to reduce the cost of production and maximize profits. Thankfully this was busted by the European Commission in 2019.

7 0
3 years ago
What can you conclude about the relationship between the slope of the demand curve above and its elasticity?
NemiM [27]

Answer:

By definition, the price elasticity of demand equals the percentage changes in the quantity demanded divided by the percentage changes in the price. There is an opposite relationship between the demand elasticity and the slope of the demand curve.

6 0
3 years ago
You were planning to spend Friday working at your part-time job, but a friend asks you to go kayaking.
N76 [4]

The statement that applies are the rental of ant kayak equipment you need the wages that you forgo by going kayaking and the fee for accessing the river in a national park

Explanation:

The true cost for going to a particular place includes all that costs that are included from moving to a place that includes all the wages and the vehicle cost

Here the opportunity costs includes the fee to go to the national park by crossing the river and the amount that is needed to be spent on the equipment and the wages that must be forgo by going to kayaking all these statements best includes the true costs of going to kayaking

7 0
3 years ago
Amend Inc. debited Accounts Receivable and credited Allowance for Uncollectible Accounts to reestablish an account previously wr
goldfiish [28.3K]

Answer:

Cash; account receivable

Explanation:

The journal entry to reestablish an account previously written off is given below:

Cash Dr XXXXX

   To account receivable XXXXX

(being the reestablish an account previously written off is recorded)

Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets

5 0
3 years ago
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt make
pav-90 [236]

Answer:

c. 2.71, and supply is elastic.

Explanation:

The formula to compute the price elasticity of supply is shown below:

Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)        

where,  

Change in quantity supplied is

= Q2 - Q1

= 100 t-shirts - 75 t-shirts

= 25 t-shirts

And, an average of quantity supplied is

= (100 + 75) ÷ 2

= 87.5

Change in price is

= P2 - P1

= $20 - $18

= $2

And, the average of price is

= ($20 + $18) ÷ 2

= 19

So, after solving this, the price  elasticity of supply  is 2.71

3 0
3 years ago
Other questions:
  • As an exporter, Horizon Trading wants to be paid before a consignment is shipped. Correspondingly, its importer in Italy, Friggo
    11·1 answer
  • A company issues $50 million of bonds at par on January 1, 2018. The bonds pay 10% interest semi-annually on 12/31 and 6/30 and
    5·1 answer
  • The financial statement effects of the budgeting process are summarized on the cash budget and the capital expenditures budget.
    9·1 answer
  • ​Finishing the construction of a home two days after the contract called for completion (no injury occurs) most likely will be c
    10·1 answer
  • In year 8, Mondo Magazines began selling one- and two-year subscriptions to its publications. Subscriptions are collected in adv
    12·1 answer
  • Mercantilists wanted a favorable balance of trade, by which they meant a. exports = imports. b. exports > imports. c. exports
    14·1 answer
  • Vernon Corporation offered detachable 5-year warrants to buy one share of common stock (par value $5) at $20. The price paid for
    10·1 answer
  • alculating Net Float [LO1] Each business day, on average, a company writes checks totaling $17,000 to pay its suppliers. The usu
    14·1 answer
  • A contract in which an owner provides a user the right to use an asset in return for periodic cash payments over a period of tim
    6·1 answer
  • You are Maria Herrera and have recently been promoted… Where are you going to do to address the issue?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!