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
Serjik [45]
2 years ago
12

To save money for his daughter's college tuition, Dan invests every quarter in an annuity that pays interest, compounded quarter

ly. Payments will be made at the end of each quarter. Find the total value of the annuity in years.
Business
1 answer:
meriva2 years ago
7 0

The question is incomplete. The complete question is :

To save money for his daughter's college tuition, Dan invests $269 every quarter in an annuity that pays 6.9% interest, compounded quarterly. Payments will be made at the end of each quarter. Find the total value of the annuity in 20 years.

Solution :

Given :

Annuity = $ 269

Compounded quarterly for 20 years, so N = 4 x 20 = 80

Rate of interest = $\frac{6.90 \%}{4}$

                          = 1.725 %

We know Future value of the annuity is given by :

$FV= \text{Annuity} \times \frac{(1+R)^{N-1}}{R}$

$FV= \text{269} \times \frac{(1+1.725\%)^{80-1}}{1.725\%}$

     $=269 \times 169.762413$

     = 45666.09

So the total value of he annuity is $45,666.09

You might be interested in
The chi-square goodness-of-fit test for multinomial probabilities with 5 categories has _____ degrees of freedom.
bija089 [108]

Answer:

4

Explanation:

The chi-squared test tests whether distribution of a population of something (such as people, traits etc) into categories deviates significantly from expected values.

The degrees of freedom represents the number of independent ways by which a system can change. The degree of freedom is always the number of categories being analyzed minus 1.

Therefore, the degrees of freedom in this example is 5-1 = 4

3 0
3 years ago
Newspaper vending machines are often built so that customers can pay to lift a door and take a paper off a pile of daily newspap
worty [1.4K]
Newspaper distributors are not concerned because the second copy that is taken will be of less value to the customer or thief since they would contain the same information. Thus, acquiring more than one copy is not a loss of revenue to the distributors.
8 0
3 years ago
Most of the time it is quite difficult to separate the three functions of money. Money performs its three functions at all​ time
PtichkaEL [24]

Answer:

Explanation:

a. Money is being used as a medium of exchange because Brooke is accepting money in exchange for doing her daily tasks at the office. Money facilitates transactions:  Brooke will use some of that money to buy food, if money wouldn´t exist, the company will have to pay her in food, but for the company is difficult to measure how much apples, rice, coffee and other does Brooke´s work represent.

b. Money is being used as a unit of account because it provides a common measure of the value of goods or services, in this case oranges and apples.

c. Money is being used as a store of value. Even though money loses value because of inflation is the most liquid asset a person can have.

8 0
3 years ago
A new operating system for an existing machine is expected to cost $570,000 and have a useful life of six years. The system yiel
gulaghasi [49]
Which of the following items determine your preference for a ticket
7 0
3 years ago
Under the Securities Act of 1933, if damages were incurred and there was a material misstatement or omission in the financial st
dedylja [7]

Answer:

The CPA rebuts the allegations

Explanation:

The Securities Act of 1933 requires that investors receive financial and other significant information regarding any and all securities being sold publicly and prohibits deceit, misrepresentations, and other fraud in the sale of securities. Therefore, since there was material misstatement or omission in the financial statements, the only chance the CPA has is if they rebut the allegations. Meaning that they provide actual evidence, such as physical statements or witnesses that contradict or nullify the evidence that is being presented against them regarding the material misstatement or omission

3 0
3 years ago
Other questions:
  • Which statement describes a benefit of international trade
    8·2 answers
  • In quality control applications, bar charts are used to identify the most important causes of problems. When the bars are arrang
    13·1 answer
  • On January 1, 2018, Warren Corporation had 950,000 shares of common stock outstanding. On March 1, the corporation issued 150,00
    13·1 answer
  • 1. A company acquires all of the assets and liabilities of another company. Which statement is false? A. The acquired company no
    14·1 answer
  • An example of an asset-producing debt is a _____.
    8·1 answer
  • What are the five key things you must know in order to identify opportunities in your area of work?
    9·1 answer
  • Allure Company manufactures and distributes two products, M and XY. Overhead costs are currently allocated using the number of u
    8·1 answer
  • 13. A firm hires its labor in a perfectly competitive factor (or resource) market and sells its product in a perfectly competiti
    11·1 answer
  • Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son Total Gifts to Daughter 2014 $
    7·1 answer
  • Is/are also called factors of production since they are transformed into output during the production process?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!