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
What was one part of Mawi’s story that stood out to you from his videos? Why did it stand out?
maria [59]
One of the part of Mawi's story that stood up for me is the one he said that people should try and succeed for themselves.
It stand out because it is common belief in people that we tend to try to do things to gain acceptance of others
7 0
3 years ago
Read 2 more answers
A nation's GDP is______________.
Stels [109]

Answer:

A nation's GDP is______D________.

A) The sum of value added at some stage of the production process

B) The total amount of money in circulation

C) The total market value of all intermediate goods and services

D) C+I+G+(X-M)

Explanation:

A nation's GDP( Gross Domestic Product)  can be explained in such that if a nation produces goods and services at a given period of time the nation's GDP is the market value of the goods and service produced at the given time.GDP of a nation is measred in two ways either expenditure approach or income approach. based on the question the Expenditure approach is used in the definition C+I+G+(X-M)

C ....... CONSUMPTION

I............INVESTMENT

G........... GOVERMENT PURCHASE

X-M............ NET EXPORT

7 0
4 years ago
_____ is collected by outside organizations such as federal and state governments, trade associations, nonprofit organizations,
Zepler [3.9K]

Answer: External secondary data

Explanation:

External secondary data are data gathered and saved by someone or a body that is not part of one's organization. Sources of External secondary data includes published materials, computerised databases and syndicated services.

Note that how difficult or easier it will be getting a secondary data will depend on the methods used in storing and indexing it.

6 0
4 years ago
A situation in which the design or operation of a control does not allow management or employees, in the normal course of perfor
Helen [10]

Answer: (A) Control deficiency

Explanation:

 The control deficiency is the type of situation in which the operation and the designing of the control are not allowing the management and an employee performing the various type of assigned function.

The control deficiency process occur when the person are involving with the authority in the transaction cycle.

This situation is usually occur in an larger type of an organization. The deficiency may be on the financial report that control internally.  

Therefore, Option (A) is correct.

3 0
4 years ago
Firms with the most profitable investment opportunities are willing and able to pay the most for capital, so they tend to attrac
natali 33 [55]

Answer:

True

Explanation:

It is true because capital, such as any other resource, has a cost. More established and profitable companies have a lower risk in the market and can afford possible losses with more sustainability than small business, hence they are usually the main target of capital investment. To counterpoint this market behavior, governments usually develop programs of capital support to small businesses, especially those that meet the necessity of minorities or areas with a high unemployment rate.

6 0
3 years ago
Other questions:
  • Which term describes a list of all ledger accounts that businesses maintain?
    8·1 answer
  • Division A reported income from operations of $975,000 and total service department charges of $675,000. As a result, a.consolid
    11·1 answer
  • Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2013. On that date t
    9·1 answer
  • Nancy needed a new induction cooker as the one she had was not in working condition. with the intention of buying purchasing the
    12·1 answer
  • "In a mid-size company, the distribution of the number of phone calls answered each day by each of the 12 receptionists is bell-
    11·1 answer
  • You invest $1,800 in a complete portfolio. The complete portfolio is composed of a risky asset with an expected rate of return o
    15·1 answer
  • Scotsman Company prepares monthly financial statements. Below are listed some selected accounts and their balances in the Septem
    12·1 answer
  • A Registered Investment Adviser (RIA) is formed as a partnership. The RIA intends to charge an incentive fee that is based on in
    10·2 answers
  • Most employees who use flextime prefer to work independently of others. In order to accommodate this preference, businesses perm
    9·1 answer
  • Freedom Company had 450,000 shares of common stock issued as of December 31, 2020. 350,000 had been issued and outstanding as of
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!