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shusha [124]
2 years ago
13

You're prepared to make monthly payments of $310, beginning at the end of this month, into an account that pays 4 percent intere

st compounded monthly. How many payments will you have made when your account balance reaches $20,175
Business
1 answer:
umka2103 [35]2 years ago
8 0

Answer:

59 Payments

Explanation:

Future value = $20,175

Monthly payment= $310

Interest rate= 4%/12 = 0.3333% per month

How many payments will you have made when your account balance reaches $20,175?

Now we use Ms Excel to calculate the number of payment

Number of payment = N(FV, -PMT, I/Y)

Number of payment = N(20,175 , -310 , 0.3333%)

Number of payment = 58.9989

Number of payment = 59.

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Suppose that firm a dislikes hiring black accountants, while firm b is happy to hire them. so ted ends up working at firm b rath
egoroff_w [7]
<span>Regardless of the firm, most companies will do at least a bi-annual audit if not quarterly. In this case Ted would do the same amount of audits for either company, two to four depending on the companies frequency.</span>
6 0
3 years ago
A furniture company is producing two type of furniture. Product A requires 8 board feet of wood and 2 Ibs of wicker. Product B r
Blizzard [7]

Answer:

Maximize 30A + 40B.

Explanation:

Given that

Profit margin of product A = $30 per unit

And, the Profit margin of product B = $40 per unit

And, let us assume that

Number of product A produced is A

And, the Number of product A produced is B

So, the total profit is

= 30A + 40B

And, this reflects the maximum profit

All other information which is not given is not relevant. Hence ignored it

7 0
3 years ago
If the lowest-paid employee earned $15,000 a year, what would the maximum salary be for the highest-paid manager under the 7-to-
romanna [79]

Under the 7-to-1 rule, the maximum salary that would be paid to the highest-paid manager is $105,000.

Data and Calculations:

Lowest-paid employee's annual earnings =$15,000

Maximum-Minimum Salary Rule = 7-to-1

The maximum salary paid to the highest-paid manager = $105,000 ($15,000 x 7).

Thus, the maximum salary paid to the highest-paid manager under the company's 7-to-1 rule is $105,000.

Learn more: brainly.com/question/3854368

4 0
2 years ago
Approximately how much interest will Karen owe on her credit card next month if the balance she carried over from the previous m
lord [1]

Answer:

Karen will owe an interest amount of=$36.75

Explanation:

<em>Step 1: Determine the total amount after a month </em>

The total amount compounded annually can be expressed as;

A=P(1+R/n)^(nt)

where;

A=total amount

P=principal amount

r=annual interest rate

n=number of periods the interest is compounded annually

t=number of years

In our case;

A=unknown

P=$2,450

r=18%=18/100=0.18

n=12

t=1/12

replacing;

A=2,450(1+0.18/12)^(12×1/12)

A=2,450(1+0.18/12)^1

A=2,450(1.015)

A=$2,486.75

<em>Step 2: Determine the interest amount after a month </em>

Interest amount=total amount-principal amount

where;

total amount=$2,486.75

principal amount=$2,450

replacing;

Interest amount=2,486.75-2,450=$36.75

The interest amount=$36.75

4 0
2 years ago
Which statement is an example of post-secondary education?
chubhunter [2.5K]
<span>The answer is C. Postsecondary alternatives are differed and may incorporate open or private colleges, universities, junior colleges, profession/specialized schools, professional/exchange schools, habitats for proceeding with instruction, grounds progress projects, and apprenticeship programs.</span>
3 0
3 years ago
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