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madreJ [45]
3 years ago
9

If Bob and Judy combine their savings of $1,260 and $975, respectively, and deposit this amount into an account that pays 2% ann

ual interest, compounded monthly, what will the account balance be after 4 years?
Business
1 answer:
Andrew [12]3 years ago
6 0

Answer:

The account balance after 4 years will be $2,420.

Explanation:

First we need to add Bob and Judy's amount to find the total amount that will be deposited. (1260+975)=2,235.

Now we will break up the annual interest into monthly interest because it will be compounded monthly. 2/12=0.166.

Then we will break up the 4 years into months also because the interest is compounded monthly. 4*12=48

Now we use the formula for compound interest

Final amount = Principal*(1+R)^N

Principal = 2,235

R= 0.166% or 0.00166

N= 48

We put these values into our formula

2,235*(1+0.00166)^48

=2,420

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1) False

2) False

3) True

4) True

Explanation:

1) International trade did not begin in 18th century but it started in between 16th and 17th century when the barter system was shifting towards mercantilism. Therefore, answer is False.

2) Twentieth-century although marked duly rise in the female sports fans but marketing efforts were not primarily shifted towards them but included them among the male sports fan base. The female fans created a new segment of marketing which resulted in creating a new product line according to their tastes and preferences. Therefore, the answer is false.

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6 0
3 years ago
Rapid Response Security Firm, a company that provides on-site security services for malls and other retail environments, needs t
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3 years ago
3. Who was the first customer of mcdonald's and what was ordered?
valentinak56 [21]

Answer:

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Explanation:

8 0
2 years ago
The market capitalization rate for Admiral Motors Company is 8%. Its expected ROE is 10% and its expected EPS is $5. The firm's
pashok25 [27]

Answer:

(A) 6%

(B) 20

Explanation:

The market capitalization rate for Admiral motors is 8%

= 8/100

= 0.08

The expected ROE is 10%

= 10/100

= 0.1

The expected EPS is $5

The Plowback ratio is 60%

= 60/100

= 0.6

(A) The growth rate can be calculated as follows

= Plowback ratio × ROE

= 0.6 × 0.1

= 0.06×100

= 6%

Hence the growth rate is 6%

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5 0
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Macroeconomic equilibrium occurs where A. total​ production, or​ GDP, equals total planned investment. B. the unemployment rate
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4 0
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