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emmasim [6.3K]
2 years ago
10

Assume Sheryl Jenkins wants to accumulate $ 13,241.39 in two years. She currently has $ 10,621.36 to invest. What interest rate

must she earn on her investment (that is, if she deposits $ 10,621.36 today) to have $ 13,241.39 exactly two years from today?
Business
1 answer:
WITCHER [35]2 years ago
8 0

Answer: 11.65%

Explanation:

The $13,241.39 is a future value amount as it is what is to be accumulated in 2 years.

Future value formula therefore applies:

Future value = Current value * ( 1 + interest rate) ^ no. of years

13,241.39 = 10,621.36 * ( 1 + i) ²

(1 + i)² = 13,241.39 / 10,621.36

(1 + i)² = 1.24667556697

1 + i = √1.24667556697

i = 1.116546267 - 1

i = 11.65%

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D) have customers who operate in many different parts of the country.

Explanation:

A lockbox is basically a bank mailing address where a company's clients can send their payments to. It is similar to mailbox that receives letters, only that this one receives checks and cash. The bank is in charge of opening the lockbox and depositing the cash and checks to the company's account, and reporting the information.

7 0
3 years ago
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McGregor Company allows customers to pay with credit cards. The credit card company charges McGregor 3% of the sale. When a cust
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C. Debit Service Fee Expense for $6

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3 years ago
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5 0
1 year ago
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next three years, with the growth
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Answer:

The  current share price is $71.05

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P3 = D3(1 + g)/(R – g)

    = D0[(1 + g1)^3](1 + g2)/(R – g)

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    = $90.20

The price of the stock today is the PV of the first three dividends, plus the PV of the Year 3 stock price given by:  

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3 years ago
Janice and Shane are both senior software analysts. They have worked together on projects for six years and get along very well.
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Answer:option D

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