Answer:
The rate that Bank B must pay Derek to have have the same amount in both accounts after 10 years is:
= 22.611%
Explanation:
a) Data and Calculations:
Monthly deposit in Bank A= $279
Period of deposit = 120 (10 * 12) months
Interest rate = 14% compounded monthly
Using an online finance calculator, the future value =
Sum of all periodic payments = $33,480.00
Total Interest = $38,800.23
Future value of funds = $72,280.23
Annual deposit in Bank B = $2,447
Period of deposit = 10 years
Future value = $72, 280.23
Therefore, the Interest rate = 22.611%
Answer: See explanation
Explanation:
• Natural resources occur in the environment.
This is true. In our environments, we can see natural resources. They include coal, tin, limestone, iron ore etc.
• Example of services are teaching, banking, insurance, tailoring etc. In an economy, services are regarded as the intangible parts as they can't be touched. It is an important part of every nation.
• Example of goods are clothes, pens, cars etc.
Goods are physical and tangible items. They include laptops, chairs, phones etc.
• A renewable resource cannot be exhausted.
This is true. A renewable resource cannot be exhausted e.g. sunlight.
Answer:
It will take 11 years and 124 days.
Explanation:
Giving the following information:
Isaac only has $1,090 today but needs $1,979 to buy a new computer. Interest rate= 5.4 percent compounded annually
To calculate the number of years, we need to use an alternative formula of the future value formula.:
FV= PV*(1+i)^n
Isolating n:
n=[ln(FV/PV)]/ln(1+r)
n= [ln(1,979/1,090)] / ln(1.054)
n= 11.34 years
<u>To be more accurate:</u>
0.34*365= 124
It will take 11 years and 124 days.
Answer:
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2) conduct field research
3) determine your job target
4) Build your credentialsand resume
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Answer:
- a. Proceeds from Condemnation of Land
- c. Cash paid for unexpected major equipment repairs
Explanation:
The Cash Flow statement records only activities that affect the cashflow of the company. The Investing Activity section of the Cashflow statement deals with capital goods (PPE) and investments in other company securities.
The proceeds from land condemnation will go to the Investing activities section as it has to do with capital goods and the cash paid for unexpected major equipment repairs will see the equipment being used in the long term so it goes to Investing as well.
