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
svp [43]
3 years ago
14

You have just deposited $10,500 into an account that promises to pay you an annual interest rate of 6.4 percent each year for th

e next 5 years. You will leave the money invested in the account and 15 years from today, you need to have $29,750 in the account. What annual interest rate must you earn over the last 10 years to accomplish this goal?
Business
1 answer:
forsale [732]3 years ago
7 0

Answer:

7.59%

Explanation:

Calculation for What annual interest rate must you earn over the last 10 years to accomplish this goal

Future value required=[Amount of deposit*(1+6.4%)^5]*(1+I)^10

$29,750=[$10,500*(1+6.4%)^5]*(1+I)^10

$29,750=[$10,500*(1+0.064)^5]*(1+I)^10

$29,750=[$10,500*(1.064)^5]*(1+I)^10

$29,750=[$14,318.497198]*(1+I)^10

(1+I)^10=[$29,750/$14,318.497198]

(1+I)^10=2.077732013

(1+I)=2.077732013^(1/10)

(1+I)=1.07586791

Hence, annual interest rate will be:

Interest rate, I=(1.07586791-1)*100

Interest rate=0.07586791*100

Interest rate=7.586791%

Interest rate=7.59% (Approximately)

Therefore the annual interest rate that you must earn over the last 10 years to accomplish this goal is 7.59%

You might be interested in
Roe's Renovations utilizes the direct write-off method of accounting for uncollectible receivables. On September 15 the company
Nady [450]

Answer:

The correct options are C and A

Explanation:

Under the method of direct write off of the accounting for uncollectible receivables, the journal entry should be recorded in the books is as follows:

On September 15

Bad debt expense A/c.................................... Dr      $675

     Accounts receivable- Jacob Marley A/c........Cr    $675

When the company is notified of the bankruptcy of the Jacob Marley, then the above following entry is to be recorded as the bad debt expense, got increases and any increase is debited. Therefore, the account of bad debt expense is debited. And the balance of the accounts receivable of Jacob Marley has been reduced because the amount is unrecoverable so any decrease is credited. Therefore, the account of accounts receivable of Jacob Marley is credited.

7 0
3 years ago
Give examples if operational conflicts that could occur in a cross- cultural context because of different attitudes towards:1) t
DanielleElmas [232]

The correct answer to this open question is the following.

Give examples of operational conflicts that could occur in a cross-cultural context because of different attitudes towards:1) time, 2) individualism.

Well, let's start with time. In the United States, time is of the utmost importance. There we have the old saying: "Time is money."

In the workplace, everything is based on the smart and efficient use of time. No time must be wasted in the workplace.

Individual effort is important in the American culture, but the team effort, the concept of being a good team player is very important under the following premise: teams can accomplish more than individuals.

What most Americans desire is individual recognition through team effort.

That is why team sports are so good in the United States because they exemplify the way teams function and what they can accomplish. For instance, college and pro football, basketball, and baseball.

The region that has a different approach, is Latin America. This does not mean that is better than the other, just that there are major differences between the two.

The management of time is very different in Latin American countries. It is not as important as the US. People in Latin America approach the concept of time in a more relaxed way. In Latin America, there is a more relaxed approach to time. Nothing is urgent, Things take time. Things are made at a different pace compared to the US.

And regarding individualism, Latin American people tend to prefer to be more individualistic to do things trying to get some recognition, The team concept is not as developed as in the US.

5 0
3 years ago
Encouraging customers to switch brands is most likely the objective of
noname [10]
An advertisement. Advertisements are always trying to get you to switch brands.
8 0
3 years ago
Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report (Choos
Lana71 [14]
I’m sorry I just need points
5 0
3 years ago
What two key values are identified for each performance parameter in the capability development?
Taya2010 [7]

Key Performance Parameters (KPP) and Key System Attributes (KSA) are the two key values identified for each performance parameter in the capability development.

Skill development refers to creating new skills or improving existing skills. Skill development, skill growth, skill expansion, and skill maturity are often used interchangeably with this concept. A number of theoretical lenses, such as knowledge-based approaches, resource-based perspectives, and evolutionary theory, provide insight into organizational skills development in firms.

Various authors highlight different factors as predictors of ability to influence skill development, including B. In-house knowledge, experience, organizational learning, routine and non-routine actions (eg, semi-continuous asset orchestration or routine redesign).

Scalability, Growth Capacity, Dynamic Capacity, and Investment in LearningThese keywords were added by the machine, not the author. This process is experimental and keywords may be updated as the learning algorithm improves.

Learn more about Capability Development here : brainly.com/question/25594630

#SPJ4

4 0
2 years ago
Other questions:
  • Your boss would like your help on a marketing research project he is conducting on the relationship between the price of soup an
    10·1 answer
  • My Work Ramon works for a large company that is considering starting a new business unit to sell personalized coffee mugs. He ha
    5·1 answer
  • 8) Which of the following may be a feature of some credit cards?
    14·2 answers
  • An increase in the quantity supplied can result from
    5·1 answer
  • A project is expected to generate annual revenues of $129,300, with variable costs of $72,400, and fixed costs of $18,900. The a
    5·1 answer
  • Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor
    5·1 answer
  • The Molding Department of Boswell Company has the following production data: beginning work process 40,000 units (60% complete),
    7·1 answer
  • Based on the passage, who might be interested in your credit report, and why? Check all that apply.
    6·2 answers
  • Suppose 17 pesos can be exchanged for $1. A Mexican businessman is interested in buying a home in Texas. If the price of the hom
    12·1 answer
  • Paula has completed a mortgage application and provided evidence of employment, income, assets owned, and existing debt to the p
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!