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
nadya68 [22]
3 years ago
9

Your parents invested $1000 into an account when you were born. The account has an interest rate of 6% and compounds monthly (12

times per year). Calculate how much the account would be worth on your 20th birthday if no other activity took place.
Business
1 answer:
Gelneren [198K]3 years ago
8 0

Answer:

$3,310.20

Explanation:

The applicable formula in this case is

A = P x ( 1 + r )^ n

Where A= amount after 20 years

P is principle amount= $1000

r is interest rate = 6 % or 0.06 per year: monthly interest = 0.06/12

n is number of periods = 12 months x 20 years

A = $1000 x ( 1 + 0.005) ^240

A = $1000x (1.005) ^ 240

A =$1000 x 3.31020447580

A =$3,310.2044

You might be interested in
Page(s) 13-14 1.2. What are five foundations of economics? Arshad is trying to choose his college major. His options are physics
Marizza181 [45]

Answer:

Physics

Explanation:

Opportunity Cost

When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice.

Since Arshad is concerned about his mid-career salary, Physics has the highest mid-career salary among the options, therefore opportunity cost of choosing to major in communications would be Physics

7 0
3 years ago
1. Over the past year, a customer has surrendered, in whole or in part, three life insurance policies. If part of a money launde
Thepotemich [5.8K]

Answer:

It represents the Integration stage

Explanation:

Money laundering is an illegal chain of activities done by individuals or corporate bodies to change the status of money gotten through a criminal activity into legitimate money. This chain of activities starts with the Placement stage then transforms into the Layering stage, then ends when it is already integrated into the legitimate financial system through the Integration stage.

After the money launderer conceals the illegal money through bank deposits or purchasing a life insurance policy at the Placement stage, the launderer then proceeds to further break the money into smaller amounts to evade suspicion by numerous transactions and bank deposits at the Layering stage, which is then ended by partial or whole surrenders of life insurance policies to make it now legitimate money.

3 0
2 years ago
Veronica offers to sell Rowena her luxury sedan and says that it has never been in an accident. Rowena hires Laszlo, a mechanic,
PilotLPTM [1.2K]

Answer:

not rescind the contract

Explanation:

According to the given situation, Veronica offers to Rowena to purchase his luxurious sedan by saying that it has been into an accident. After that Rowena hires Laszlo who is a mechanic to repair the sedan. Here Laszlo told Rowena that this sedan is mostly into an accident, after knowing these details Rowena is decided to purchase a car. After some time, Rowena faces a mechanical problem, here she can not break the contract as she already knew that car is have been into an accident mostly.

Therefore, the right answer is she cannot rescind the contract.

4 0
3 years ago
PLZ HELP!!!! what is a benefit of job shadowing?
Hoochie [10]

Answer:

It allows you to get an insight into the working life of the profession. It allows you to get an insight into the employer and organisational culture. It gives you a different perspective on your work by learning from others' experiences. It expands your network and helps you make professional contacts

Explanation:

7 0
3 years ago
Read 2 more answers
The 2005 boston globe article discussing ticket scalping points out that the price people will pay for tickets will rise when se
natta225 [31]

Answer: c). supply is limited and demand is not limited

Explanation: When supply of a good is limited while its demand is not limited as rise in the price of the good, will not lead to a substantial decline in the quantity. The 2005 boston globe article discussing ticket scalping points out that the price people will pay for tickets will rise when supply is limited and demand is not limited. This limited supply will induce consumers to compete among themselves and pay a higher price in order to get the limited supply.

4 0
3 years ago
Other questions:
  • Ben works at a top accounting firm in Salt Lake City and his responsibilities include developing reports for each salesperson, p
    11·1 answer
  • Policy analysts can estimate the value of a human life through ____.
    8·1 answer
  • Ashley Inc.’s total value is $950 million. Its balance sheet shows $100 million of accounts payable, $100 million of notes payab
    10·1 answer
  • One measure of the importance of a publicly traded asset class in the U.S. economy can be calculated by multiplying the number o
    11·1 answer
  • Professional auditing standards identify the principal "management assertions" that underlie a set of financial statements. The
    8·1 answer
  • I have an idea that might address all of these issues. What if none of us have any of these donuts but instead we break up into
    9·1 answer
  • Job A offers you the following financial package: base salary of $35,000, 2 weeks paid vacation, full coverage health insurance
    12·1 answer
  • Discretionary fiscal policy that might occur is​ ______. Automatic fiscal policy that might occur is​ ______. A. a decrease in t
    6·1 answer
  • Gabbe Industries is a division of a major corporation. Last year the division had total sales of $23,826,400, net operating inco
    13·1 answer
  • Kent and julie are recruiters for sunspree inc. when both of them interview the same applicant, they often find that they have d
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!