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andreev551 [17]
3 years ago
9

You have just made your first $4,400 contribution to your retirement account. Assume you earn a return of 13 percent per year an

d make no additional contributions. a. What will your account be worth when you retire in 29 years
Business
1 answer:
DENIUS [597]3 years ago
4 0

Answer: $152,309.69

Explanation:

You are looking for the future value of this amount in 29 years assuming it will be compounded annually.

Future value = Amount * (1 + rate)^ number of years

= 4,400 * ( 1 + 13%)²⁹

= $152,309.69

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George is trying to teach his two-year old son to gently caress their cat. George softly strokes the animal and every time his s
harkovskaia [24]

Letter C is correct. Retention processes.

The failure in the social learning process is in the retention process. This process occurs when the behavior is not remembered after observation. This is what happens when George's son does not repeat proper behavior with the cat when not being observed, because he does not remember. To avoid this failure it is necessary to reproduce the learning process until a memory is formed to identify the expected behavior.

3 0
3 years ago
You plan to borrow $40,000 at a 6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year pay
STALIN [3.7K]

Answer:

Interest for second year $2,114.08

Explanation:

given data

loan Amount = $40,000.00  

Interest rate r = 6.00%  

time period t = 7  

solution

we get here first Equal Monthly Payment EMI that is express as

EMI = \frac{P \times r \times (1+r)^t}{(1+r)^t-1}      ................1

here P is Loan Amount and r is rate and t is time period  

put here value and we get  

EMI = \frac{40000 \times 0.06 \times (1+0.06)^7}{(1+0.06)^7-1}    

EMI = $7165.40  

now

we get here interest for second year that is

Closing balance at year 1 = opening balance + Interest - EMI Payment

Closing balance at year 1 =  $40,000  + $2400 - $7165.40  

Closing balance at year 1 =   $35234.60

so Interest for second year $2,114.08

8 0
3 years ago
Whispering Winds Corp. purchased a delivery van with a $52000 list price. The company was given a $4200 cash discount by the dea
Alex777 [14]

Answer:

$50,500

Explanation:

Calculation for by how much will Whispering Winds Corp. increase its van account

Using this formula

Increase in Van account =List price- Cash discount + Sales tax paid

Let plug in the formula

Increase in Van account=$52,000-$4,200+2,700

Increase in Van account=$50,500

Therefore by how much will Whispering Winds Corp. increase its van account will be $50,500

4 0
3 years ago
What are the five primary factors of production?
Lina20 [59]
Land, labor, capital, and entrepreneurship
7 0
3 years ago
Consider the following simplified balance sheet of a commercial bank: ASSETS LIABILITIES Vault cash $200 $3500 Deposits Deposits
andrezito [222]

Answer:

Check the following calculations

Explanation:

(a)

Actual Reserves = Vault cash + Deposits at the Federal Reserve

Actual Reserves = $200 + $300

Actual Reserves = $500

The actual reserves are $500.

Calculate Required Reserves -

Required Reserves = Deposits * Required reserve ratio

Required Reserves = $3500 * 0.10 = $350

The required reserves are $350.

Calculate Excess Reserves -

Excess reserves = Actual reserves - Required Reserves

Excess reserves = $500 - $350 = $150

The Excess reserves are $150.

(b)

A bank can increase the amount of its loan by the amount of excess reserves it held.

This bank has excess reserves of $150.

So, this bank can increase its loans by $150.

(c)

Calculate Money multiplier -

Money multiplier = 1/Required reserve ratio = 1/0.10 = 10

The money multiplier is equal to 10.

(d)

Calculate total expansion of loan by entire banking system -

Total expansion = Increase in loan by individual bank * Money multiplier

Total expansion = $150 * 10 = $1,500

The entire banking system can expand their loans by $1,500.

(e)

The new wealth directly created from this expansion of deposits is equal to the quantum of expansion in deposits.

The deposits has expanded by $1,500.

So, new wealth directly created from this expansion of deposits is $1,500.

5 0
3 years ago
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