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
Setler [38]
2 years ago
9

Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has ​$8 comma 000 for h

is CD investment. If the bank is offering a 6 ​% interest​ rate, compounded​ annually, how much will the CD be worth at maturity if Jonathan picks a a. two ​-year investment​ period? b.  six ​-year investment​ period? c.  ten ​-year investment​ period? d.  fifteen ​-year investment​ period?
Business
1 answer:
Marizza181 [45]2 years ago
3 0

Answer:

A = P * (1 + r/n)^nt. Where A = Maturity amount = ? P = Principal amount = $8,000, r = Rate of interest = 6%, n = Number of compounding per year = 1, t = Number of year

a. t = 2

A = $8,000 * (1 + 0.06/1)^1*2

A = $8,000 * (1.06)^2

A = $8,000 * 1.1236

A = $8,988.80

b. t = 6

A = $8,000 * (1 + 0.06/1)^1*6

A = $8,000 * (1.06)^6

A = $8,000 * 1.418519

A = 11348.152

A = $11,348.15

c. t = 10

A = $8,000 * (1 + 0.06/1)^1*10

A = $8,000 * (1.06)^10

A = $8,000 * 1.7908477

A = 14326.7816

A = $14,326.78

d. t = 15

A = $8,000 * (1 + 0.06/1)^1*15

A = $8,000 * (1.06)^15

A = $8,000 * 2.3965581931

A = 19172.4655448

A = $19,172.47

You might be interested in
If Chester Corp. were to buy all of it's shares outstanding at its current price, how much would it cost Chester Corp, excluding
Anvisha [2.4K]

Answer:

$82, 727, 931

Explanation:

At a present stock price of $24.40 , the cost of buying all outstanding 3,390, 489 shares is calculated by multiplying the present stock price by the total outstanding shares 24.40 * 3, 390, 489 = 82, 727, 931

6 0
3 years ago
2. What are mortgage brokers?
kondor19780726 [428]
A mortgage broker acts as a middleman between you and potential lenders. The broker's job is to compare mortgage lenders on your behalf and find interest rates that fit your needs. ... Mortgage brokers are licensed
7 0
2 years ago
Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31,
Soloha48 [4]

Answer:

Answer for the question:

Crane Company uses the LCNRV method, on an individual item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D Item E Item F Item G Item H Item I Estimated selling price $122 $112 $97 $92 $112 $92 Cost 77 82 82 82 51 37 Cost to complete 31 31 26 36 31 31 Selling costs 10 18 10 20 10 20 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above.

is given in the attachment.

Explanation:

Download pdf
3 0
3 years ago
Shay is preparing to go into her meeting with her supervisor, Jill, to discuss her annual evaluation. She knows that there have
Rzqust [24]

Shay is preparing to go into her meeting with her supervisor, Jill, to discuss her annual evaluation. She knows that there have been a few times this year where she could have performed better and she does not want to get angry in the meeting. Last night and on the ride in this morning, she rehearsed what she anticipated Jill would tell her and what her response would be. Shay was trying to  resist being defensive - True

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

The word Resist refers to the act of  withstanding  the action or effect of something. An act that is done with an  intention to protect oneself or defend from the challenge or avoiding criticism is defensive. When we do something wrong or when we are in a situation to avoid criticism by others who may be our co workers we tend to defend our self.

When we are having confidence in  the things that we do then we will try top resist what others says by explaining them the actual thing. In the given scenario, Shay is preparing how to answer the questions that Jill shoots in the meeting because he has the confidence in the work she performed. Thus, Shay is trying to resist Jill than being defensive.

4 0
3 years ago
ABC Corporation distributes property to its sole shareholder, Andre. The property has a fair market value of $350,000, an adjust
saul85 [17]

Answer:

ABC has a gain of $145,000 and Andre's dividend income is $130,000

Explanation:

Property ABC issued, has the following:

fair market value = $350,000

Adjusted basis = $205,000

Liability = $220,000

Calculate ABC's Corporation gain:

Gain = market value - Adjusted basis

= $350,000 - $205,000

= $145,000

ABC has a gain of $145,000

Calculate Andre's dividend income since he is the sole shareholder:

Dividend earnings = fair market value - liability

= $350,000 - $220,000

= $130,000

Andre's dividend income is $130,000

Correct option is D.

With respect to distribution, ABC has a gain of $145,000 and Andre's dividend income is $130,000

8 0
3 years ago
Other questions:
  • Which businesses make up the extractive industry
    14·1 answer
  • What form of intellectual property is a formula, practice, process, design, instrument, pattern, commercial method, or compilati
    12·1 answer
  • During the introduction stage of the product life cycle, a(n __________ pricing strategy may be used. this pricing strategy char
    7·1 answer
  • 1. The field of management science a. concentrates on the use of quantitative methods to assist in decision making. b. approache
    13·1 answer
  • Suppose General Electric paid its line workers $12 per hour in 2015 when the Consumer Price Index was 100. Suppose that deflatio
    5·1 answer
  • For years, Company A has made a line of high-quality power tools. They plan to introduce a revolutionary new tool made entirely
    13·1 answer
  • To persuade your boss to hire additional customer support​ staff, you might point to industry surveys that show how crucial cust
    14·1 answer
  • A company is deciding between two options: (1) purchase a piece of equipment for $10,000 or (2) lease the same piece of equipmen
    5·1 answer
  • The market structure of pure competition is distinctive because —
    8·1 answer
  • How many patents have been issued in the united states?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!