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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

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dolphi86 [110]

Answer:

$1,500,000

Explanation:

Data provided in the question:

contribution margin of the company = $1,000,000

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Now,

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thus,

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Unlike tangible goods,virtually all services are susceptible to inconsistency and variations in quality.Why is this so?A) Becaus
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A) Because services depend on people for their delivery.

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