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
Kipish [7]
3 years ago
11

You decide to save a uniform amount at the end of each month for 12 months so you will have $1000 at the end of 1 yr. The bank w

here you have a savings account pays 6% interest per annum compounded monthly. How much money do you need to deposit each month
Business
1 answer:
vitfil [10]3 years ago
5 0

Answer:

$81.13

Explanation:

first we must calculate the effective monthly interest rate:

1.06 = (1 + i)¹²

1.004868 = 1 + i

i = 0.4868%

the future value of this annuity is given, but we need the monthly contribution:

monthly contribution = future value / FV annuity factor

future value = $1,000

FV annuity factor, 0.4868%, 12 periods = 12.32656

monthly contribution = $1,000 / 12.32656 = $81.13

You might be interested in
What is compounding interest?
Svetlanka [38]

Answer:

d

Explanation:

the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

4 0
2 years ago
The character of a company's corporate culture is a product of:A. the shared values and core business principles and beliefs tha
natta225 [31]

Answer: Option E

               

Explanation: Corporate culture refers to the values and beliefs of an organisation that originates from its several different factors like strategy, customers and investors etc. The corporate culture of an organisation affects the attitude and behavior of all its members.

It sometimes works as a guide when the organisation faces an ethical dilemma. In a healthy corporate culture every employee in the organisation is treated with respect regardless of his or her status.

Thus, from the above we can conclude that the correct option is E.

5 0
3 years ago
25 points
drek231 [11]

Answer:

transition color

Explanation:

i just finished the test

6 0
3 years ago
The best way to ensure the accuracy and safety of your accounts is to:
Elden [556K]
The best way to ensure the accuracy and safety of your accounts is to : monitor your online accounts regularly
You can never now if somehow your connection is monitored and compromised. Checking your accounts regularly will help you to be prepared for unexpected occurrences

hope this helps
7 0
3 years ago
A company delivers packages by truck and would like to minimize the length of the route that each driver must travel in order to
Dovator [93]

Answer:

Algorithm II uses a heuristic approach to provide an approximate solution in reasonable time.

Explanation:

6 0
2 years ago
Other questions:
  • The production possibilities curve:
    13·1 answer
  • On average, the largest portion of the cost of living during retirement goes to
    13·1 answer
  • Erkkila Inc. reports that at an activity level of 6,600 machine-hours in a month, its total variable inspection cost is $423,980
    13·1 answer
  • Casello Mowing & Landscaping year-end 2018 balance sheet lists current assets of $437,200, fixed assets of $552,800, current
    11·1 answer
  • Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One afternoon while she was preparing the bank deposit, a customer
    14·1 answer
  • g Explain the traditional interest-rate channel for expansionary monetary policy. Explain how a tight monetary policy affects th
    11·1 answer
  • Determine which moral standard of social responsibility the business is observing.
    6·1 answer
  • What does the phrase high risk = High reward mean when it comes to investing?
    12·1 answer
  • Who are some of the key athletes in participating in basketball sport?
    7·1 answer
  • Which of the following refers to the practice of paying to have a product appear favorably in a TV show or movie
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!