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3241004551 [841]
3 years ago
12

You want to have $66,000 in your savings account 9 years from now, and you're prepared to make equal annual deposits into the ac

count at the end of each year. If the account pays 6.9 percent interest, what amount must you deposit each year
Business
1 answer:
mixer [17]3 years ago
5 0

Answer:

the amount that need to be deposited each year is $7,166.28

Explanation:

The computation of the amount that should be deposited each year is shown below:

Given that

FV is $66,000

NPER is 9

RATE is 6.9% ÷ 12 = 0.575%

PV is 0

The formula is shown below:

= PMT(RATE,NPER,PV,-FV,TYPE)

AFter applying the above formula, the amount that need to be deposited each year is $7,166.28

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a boy is three years younger than his sister. two years ago he was two-thirds of his sister's age. what are their present ages ​
padilas [110]

Answer:

The boy: 8 years old

The sister: 11 years old

Explanation:

We assume that the age at present of the boy is x (years old).

As he is younger than his sister 3 years, so that his sister's present age is great than x 3 years

=> Her present age is: x + 3 (years old)

Two years ago, the boy is younger than present two years

=> The boy's age two years ago is: x - 2 (years old)

Similarly, the sister's age two years ago is: (x+3)-2 = x + 1 (years old)

As given, two years ago he was two-thirds of his sister's age, so that we have:

<em>The boy's age two years ago = </em>\frac{2}{3}<em> × the sister's age two years ago</em>

⇒ x - 2 = \frac{2}{3}(x+1)

⇒ x - 2 = \frac{2}{3}x + \frac{2}{3}

⇒ x - \frac{2}{3}x =  \frac{2}{3} + 2

⇒ \frac{1}{3} x = \frac{8}{3}

⇒ x = \frac{8}{3}. 3 = 8

=> x + 3 = 8 + 3 = 11

So the present age of the boy is 8 years old, of the sister is 11 years old

5 0
3 years ago
The government is trying to maintain the infrastructure of the country, provide Social Security benefits to citizens, and regula
likoan [24]

The government will be able to improve the road system, encouraging more people to drive on vacations. Social Security benefits will provide income for the elderly and disabled, allowing them to spend money, thus boosting the economy. Airline security might be slightly improved because of the ability to hire, but there will not be enough money to provide the latest equipment.

3 0
3 years ago
Read 2 more answers
100 points &amp; brainliest!!
GrogVix [38]

Answer:

i believe its b

Explanation:

8 0
3 years ago
Read 2 more answers
The balance sheet for the partnership of Nina, Pinta, and Santa Maria at January 1, 2017 follows. The partners share profits and
ANTONII [103]

Answer:

$115,714

Explanation:

If the partnership's assets were $540,000, and if we assume that there are no liabilities, then:

Nina's capital account should have been 3/10 x $540,000 = $162,000

Pinta's capital account should have been 2/10 x $540,000 = $108,000

Santa Maria's capital account should have been 5/10 x $540,000 = $270,000

If they decided to pay Nina only $135,000 for her partnership stake, then the remaining partnership's assets were $405,000. This means that the partnership's capital account should be divided as follows:

Pinta's capital account should have been 2/7 x $405,000 = $115,714

Santa Maria's capital account should have been 5/7 x $405,000 = $289,286

3 0
3 years ago
On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature in 5 years. The contract rat
Ivahew [28]

Answer:

Debit interest expense - - - - $15,351.72

Credit cash - - - - - - - $14,000

Discount payable on bond - - - - - $1,351.72

Explanation:

Parker value =$400,000

contract rate = 7% = 0.07

Market rate = 8%

Discounted bond = $383,793

First interest payment using straight lime amortization;

Debit interest expense :

8% of $383,793

0.08 × $383,793 = $30,703.44

$30,703.44 ÷ 2 = $15,351.72(semi annually)

Credit cash;

7% of $400,000

0.07 × $400,000 = $28,000

$28,000÷2 = $14,000(semi annually)

Discount on bond payable ;

Debit interest expense - Credit cash

$15,351.72 - $14,000 =$1,351.72= Discount amortization

4 0
3 years ago
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