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
nirvana33 [79]
3 years ago
11

A student wants to have $30,000 at graduation 4 years from now to buy a new car. His grandfather gave him $10,000 as a high scho

ol graduation present. How much must the student save each year if he deposits the $10,000 today and can earn 12% on both the $10,000 and his earnings in a mutual fund his grandfather recommends
Business
1 answer:
kari74 [83]3 years ago
5 0

Answer:

Annual deposit= $2,984.69

Explanation:

<u>First, we need to calculate the Future Value of the lumpsum investment using the following formula:</u>

FV= PV*(1+i)^n

FV= 10,000*(1.12^4)

FV= $15,735.19

<u>Now, the annual deposit to cover the difference:</u>

Difference= 30,000 - 15,735.19= 14,264.81

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (14,264.81*0.12) / [(1.12^4) - 1]

A= $2,984.69

You might be interested in
At the end of the accounting period, a company's overhead was overapplied by $400. The Factory Overhead account was properly adj
wariber [46]

Answer:

The overapplied factory overhead results in more expense. The overapplied factory overhead results in increase in cost of good sold. Over-application means that actual overhead are less than reported expense. At the end of the accounting period the company will pass following accounting entry to adjust over application

Debit FOH account                400

Credit Cost of Good Sold       400

So after this adjustment the net income will increase by 400 dollars.

5 0
4 years ago
Which of the following are automatically withheld from paychecks?
Dimas [21]
Taxes are automatically withdrawn from paychecks.
4 0
3 years ago
A company uses a legacy on-premises analytics application that operates on gigabytes of .csv files and represents months of data
Vera_Pavlovna [14]

Answer:

The only way the company can achieve this, a solutions architect that will maintain two synchronized copies of all the .csv files on-premises and in Amazon S3 would be through:

C. Deploy an on-premises volume gateway. Configure data sources to write the .csv files to the volume gateway. Point the legacy analytics application to the volume gateway. The volume gateway should replicate data to Amazon S3.

Explanation:

6 0
3 years ago
Which of the following is used to explain the process managers go through in determining the reasons for effective or ineffectiv
inessss [21]

Answer: Attribution theory.

Explanation:

Managers most times makes use of the Attribution theory when trying interpret employees behavior. The Attribution theory is a theory that studies individual and their behavior, what makes an individual either motivated or demoralized on a job.

8 0
3 years ago
Read 2 more answers
at a small company, one person prepares the paychecks for employees and another person reviews the check amounts and signs the c
____ [38]

At a small company, one person prepares the paychecks for employees and another person reviews the check amounts and signs the checks. this is an example of creating checks and balances approach to combatting destructive leadership.

<h3>What is company?</h3>

The term "company" refers to legal entities that are lawfully registered under the Company Act. The company's major goal is to increase profits while maintaining goodwill. With the assistance of management, the organization was flawlessly run. Employees are compensated by the company.

According to the small company, one authorisation figure checks the other's work being done, and thus maintains balance. The destructive leadership is checked and balanced.

As a result, the is an example of creating checks and balances approach to combatting destructive leadership.

Learn more about on company, here;

brainly.com/question/29354835

#SPJ1

Your question is incomplete, but most probably the full question was.

a- emphasizing low power distance

b- empowering employees

c- creating checks and balances

d- establishing norms and values

4 0
1 year ago
Other questions:
  • Spalding Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company tha
    7·1 answer
  • URGENT PLEASE HELP ILL GIVE BRAINLIEST TO FIRST ANSWER find how much you need to deposit each year to have $10,000 in 5 years at
    13·1 answer
  • 1. Net Worth is equal to assets minus liabilities. Which event will have the greatest impact (positive or negative) on one's net
    13·1 answer
  • Capital Chemicals Corp. recently faced a legal hassle following which many process operators resigned voluntarily. The company f
    7·1 answer
  • Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year, the company reports th
    6·1 answer
  • A job specification is: a. a group of related activities and duties. b. a statement of the knowledge, skills, and abilities requ
    10·1 answer
  • Your grandmother tells you a dollar doesn't go as far as it used to. She says the " purchasing power" of a dollar is much less t
    11·1 answer
  • In the trial balance, all the accounts with debit balances are listed before the accounts with credit balances.
    6·1 answer
  • QUESTION 31 Denzil was one of 50,000 people defrauded of $40 in an advertising scam. His best course of action to recover his mo
    9·1 answer
  • You are looking for ways to save money when it comes to feeding your family. What is the most helpful way to cut back on food ex
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!