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julsineya [31]
3 years ago
11

Leon and Heidi decided to invest ​$3,500 annually for only the first seven years of their marriage. The first payment was made a

t age 20. If the annual interest rate is 9​%, how much accumulated interest and principal will they have at age 70​?
Business
1 answer:
raketka [301]3 years ago
8 0

Answer:

FV= $1,309,832.57

Explanation:

Giving the following information:

Annual investment (1 to 7)= $3,500

Interest rate= 9%

<u>First, we need to calculate the future value of the annual deposit using the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {3,500*[(1.09^7) - 1]} / 0.09

FV= $32,201.52

<u>Now, the value when they are 70:</u>

Number of periods= 70 - 27= 43

FV= PV*(1+i)^n

FV= 32,201.52*(1.09^43)

FV= $1,309,832.57

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Under conditions of imperfect competition, the mrp for the twelfth worker is calculated by
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When is the acquisition program baseline prepared?
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4 years ago
Leas Corporation staffs a helpline to answer questions from customers. The costs of operating the helpline are variable with res
elena-14-01-66 [18.8K]

Answer:

d. $432,590

Explanation:

In this scenario cost varies with volume of calls. This is called variable cost and is defined as cost that changes as the quantity of goods and services changes. Variable cost is a summation of all the marginal costs of units produced. They rise as production increases and vice versa.

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Answer:

B. Are the performance measures fair?

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