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]
2 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]2 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
Which of the following is true about checks?
tankabanditka [31]

Incomplete question. Here's the remaining question;

A. It is a two-party instrument.

B. It necessitates that the seller has to be both the drawer and the payee.

C. It is always payable on demand.

D. It requires that the drawer is holding the drawee's money.

Answer:

C

Explanation:

Note that, to be always paid on demand implies that any time a request is made (demanded) to the bank will be fulfilled.

Therefore, an individual has a sense of security using checks to receive payments.

4 0
3 years ago
Gaining knowledge and skills is an
34kurt
Interpretation is correct answer
8 0
2 years ago
Fruitlicious is a fruit juice manufacturing company. The company ensures that all the raw materials are used well and minimal wa
Semmy [17]

It can be said that Fruitlicious demonstrates Efficiency

<h3><u>Explanation:</u></h3>

Efficiency correlates to the quality of your profession, which might involve building manufacturing with more limited waste, utilizing fewer resources or consuming smaller money. Improved efficiency can impede productivity and vice versa. Obtaining the correct sequence of productivity and efficiency assists you optimize your yield while reducing losses.

Added means to look at efficiency is the amount of gained hours of great quality productive product sorted by the number of work hours possible in a day. Essentially to expand manufacturing efficiency you want to create added output in the equivalent amount of time

5 0
2 years ago
Does fat and soap have the same density?and why?
umka21 [38]

Answer:

Soap is soluble in water, but fat is not. Fat has a melting point above 47C and soap has a melting point above 100C. Fat has a density of 0.92 g/cm3 and soap has a density of 0.84 g/cm3. These are all properties that make fat and soap different substances.

Explanation:

6 0
3 years ago
The major work elements defined in the statement of work (SOW) section along with the detailed list of deliverables provide the
Natali5045456 [20]

Answer:

Work Breakdown Structure (WBS)

Explanation:

Note that, <em>the statement of work (SOW</em>)  is usually used in project management to define project-specific activities, deliverables etc.

The Work Breakdown Structure (WBS)<em> finally breaks down the project into smaller components</em> as found in the image below. The image shows the case of a project breakdown to design and build a custom bicycle.

3 0
3 years ago
Other questions:
  • Robert Sampson owns a townhouse valued at $185,000 and still has an unpaid mortgage of $150,000. In addition to his mortgage, he
    5·1 answer
  • What business machine/equipment can you operate?
    6·1 answer
  • Mordred had been sued by a former business partner. the partner was seeking $1,000,000 in damages. mordred felt that this claim
    11·1 answer
  • George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and w
    5·1 answer
  • on holiday weekends thousands of people picnic in state parks. some picnic areas become so overcrowded the benefit or value of p
    8·2 answers
  • Which best describes a way people can use personal loans? to buy a house to buy a bicycle to pay for college to pay for grocerie
    5·2 answers
  • . As you start consuming potato chips, your marginal utility is very high, but it begins to fall slowly until you've eaten 10 ch
    13·1 answer
  • The SBA is a source of assistance that provides small businesses with the following
    11·1 answer
  • Manufacturing cycle time is best defined as the: length of the work shift, expressed in minutes per day. time it takes a unit to
    13·1 answer
  • A service business may have some additional operating expenses like rent, insurance, commissions, and so on. Most of these expen
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!