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
stealth61 [152]
3 years ago
13

Your grandparents put $10,200 into an account so that you would have spending money in college. You put the money into an accoun

t that will earn an APR of 4.19 percent compounded monthly. If you expect that you will be in college for 4 years, how much can you withdraw each month?
Business
1 answer:
expeople1 [14]3 years ago
5 0

Answer:

Monthly withdrawal = $ 231.17 per month

Explanation:

Below is the calculation:

Deposit amount in the bank = $10200

Interest rate earned by the deposit = 4.19%

Monthly interest rate = 4.19% / 12 = 0.34917%

Number of periods = 4 years x 12 = 48

Amount in the account = Monthly withdrawal x (P/A, 0.34917%, 48)

10200 = Monthly withdrawal x 44.12246

Monthly withdrawal = 10200/44.12246

Monthly withdrawal = $ 231.17 per month

You might be interested in
Alex paid $600 to Rita, his ex-wife, for child support. Under the terms of the divorce decree, Alex claims the dependency exempt
dsp73

Answer:

$0

Explanation:

Since Alex's child does not live with him for at least 6 months plus one day, he doesn't qualify for any income credit.

Alex himself cannot claim the earned income credit for an individual without a qualifying child because he is just 24 years old, and you must me at least 25 years old to qualify.

7 0
3 years ago
What type of loan requires you to pay the interest accumulated during college
azamat
This type of loan is called an unsubsidized loan. Hope I helped!
3 0
3 years ago
In 2012, a nation’s population was 10 million, its real GDP was 1.21 billion. By 2013, its the population had increased to 12 mi
julsineya [31]
No no it’s not going on
Yes yes I will
A
7 0
3 years ago
According to Anne Roe’s personality theory of career choice, people choose occupational fields based on their ______________, wh
Gekata [30.6K]

According to Anne Roe’s personality theory of career choice, people choose occupational fields based on their <u>need structures</u>, which were influenced by the childhood environments that they experienced.

<u>Explanation</u>:

Anne Roe’s personality theory of career choice was well explained in her book <u>“Psychology of Occupations”</u>. There are certain factors that influence in deciding the career of a person. The factors are psychology, biology and sociology of a person.

Individuals decide their field of work based on their demands and needs. The childhood experience may also influence the occupation field of the person. Need structure provides the requirement of the person according to their lifestyle and requirements.

4 0
2 years ago
Choose the term that best matches the description given.
Maksim231197 [3]
Specific Goals are goals that are specific, and example would be “I want to go to the beach and meditiate” so you would make it specific by saying in detail how you would get there like “sub” goals. Realistic Goals is when you have a goal that can be achieved. I’m not sure what a planning goal is.
4 0
2 years ago
Other questions:
  • As part of a major plant renovation project, the industrial engineering department has been asked to balance a revised assembly
    11·1 answer
  • Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. Eq
    6·1 answer
  • What advertising media offers live and interactive product demonstrations
    14·2 answers
  • 3. A characteristic of a natural monopoly is that
    12·1 answer
  • Modern Railways Co. operates a cargo railroad service between New York and Boston. A train owned by Modern Railways derails due
    9·1 answer
  • Sam's business will cost $49,500 to set up and run for the first year. Sam then expects an annual operational expense total of $
    6·1 answer
  • Which of the following is an example of deregulation​? A. The price of cable TV has risen to​ $40 a month in November 2013. B. B
    14·1 answer
  • On January 1, 2018, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that
    15·1 answer
  • ​________ is the second step in the target marketing process. in this​ step, marketers evaluate segments and decide which segmen
    5·1 answer
  • From the projects center dashboard, once you have chosen an individual project, what 2 things can be selected?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!