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3 years ago

1. What is the main role of financial system?

Business

1 answer:

sashaice [31]3 years ago

8 0

Answer:

it helps efficiently direct the flow of savings and investments in the economy.

Explanation:

yeah thats it

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Your son is born today and you want to make him a millionaire by the time he is 50 years old. You deposit $50,000 in an investme

mel-nik [20]

Answer:

$1000000= 50000 (1+ \frac{i}{1})^{1*50}$

$20 = (1+i)^{50}$

$20^{1/50} = 1+i$

$i = 20^{1/50} -1 = 0.0617$

And if we convert this into % we got $i = APR = 6.17 \%$

See explanation below.

Explanation:

We assume that we have compounding interest.

For this case we can use the future value formula given by:

$FV= PV (1+\frac{i}{n})^{nt}$

Where:

FV represent the future value desired = 1000000

PV= represent the present value = 50000

i = the interest rate that we desire to find in fraction

n = number of times that the interest rate is compounding in 1 year, since the rate is annual then n=1

t = represent the number of years= 50 years

So then we have everything in order to replace and we got:

$1000000= 50000 (1+ \frac{i}{1})^{1*50}$

Now we can solve for the interest rate i like this:

$20 = (1+i)^{50}$

$20^{1/50} = 1+i$

$i = 20^{1/50} -1 = 0.0617$

And if we convert this into % we got $i = APR = 6.17 \%$

7 0

3 years ago

One type of mutual fund does not endeavor to achieve the goals of a balance of bonds and stock or growth, income, and stability

jonny [76]

The correct answer is the Life Cycle Fund.

The Life Cycle Fund is a mutual fund that is automatically adjusted during the life of the fund. The fund managers work to balance the investments in the fund to match an investor's age and risk tolerance as the investor gets closer to retirement.

3 0

3 years ago

Operating costs incurred by a manufacturing company become either (1) part of the cost of inventory to be expensed as cost of go

Lana71 [14]

Sales salaries are expensed at the time they are incurred.

In 2020, the average sales representative's salary was $73,500. In 2020, the average salaries for comparable jobs were $147,580 for a sales manager, $69,100 for an insurance salesman, $62,990 for a realtor, and $30,940 for a retail salesperson yes you can be a millionaire or billionaire as a seller.

Sales salaries careers are well paid and he ranks third on this list of high-paying jobs without a degree. A salesperson's revenue is directly tied to their sales performance. This means that sales positions have excellent earning potential. Working in sales can be incredibly stressful.

Learn more about Sales salaries at

brainly.com/question/24825618

#SPJ4

4 0

2 years ago

Billy never lets money stay in his pockets, he thinks if it is there he has to spend it. Often he spends it on useless "stuff".

AleksandrR [38]

Answer:

let him put it where he won't see them until It is enough for buying his wants

4 0

3 years ago

Read 2 more answers

Aragon and Associates has found from past experience that 25% of its services are for cash. The remaining 75% are on credit. An

____ [38]

Answer:

<u>schedule of cash receipts</u>

May June July August September

$ $ $ $ $

Credit Fees (75%) 135,000 150,000 142,500 145,500 180,000

Cash Sales (25%) 45,000 40,000 47,500 48,500 60,000

Credit Receipt (10%) 13,500 15,000 14,250 14,550 18,000

Credit Receipt (60%) 0 81,000 90,000 85,500 87,300

Credit Receipt (26%) 0 0 35,100 39,000 37,050

Total Receipts 58,500 136,000 186,850 187,550 202,350

Explanation:

The schedule of cash receipts must include the cash sales and other amounts received for credit sales <u>in the respective months and amounts</u> as outlined by the question.

5 0

3 years ago

1. What is the main role of financial system?​

1. What is the main role of financial system?