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
Artist 52 [7]
3 years ago
13

"how long will it take to double your savings if you earn 7.2 percent interest, compounded annually?"

Business
1 answer:
Alchen [17]3 years ago
4 0
<span>Formula of Comound Interest will help you. Here is the formula : So : savings you placed Sf : savings you get after years r : rate n : years Sf = So x (1+r)^n Here we try to get "n" so that Sf = 2So. "n" is a math power, if you want to get it, you should use Logarithm and transform the equation : Sf - So = (1+r)^n Then, you isolate "n" and by doing that, every other equation's terms will be expressed in Logarythm : n = (log sf - log so) / (log 1 + r) Example : you have 10$, you want 20$ with 7.2% interest (Any other amount will match) : n = (log 20 - log 10) / (log 1.072) n = 0.301029 / 0.030195 n = 9.9696 You will need 9.9696 years. So (0.9696*365)/1 = 9 years, 11 months and 19 days.</span>
You might be interested in
A decrease in the price of domestically produced industrial robots will be reflected in a. the GDP deflator but not in the consu
JulsSmile [24]

Answer:

A decrease in the price of domestically produced industrial robots will be reflected in the GDP deflator but not in the consumer price index.

<u>Explanation:</u>

Although from the outset, CPI and GDP Deflator might measure something very similar, there are a couple of key contrasts. The first is that GDP Deflator incorporates just local merchandise and nothing that is imported. This is diverse because the CPI includes anything purchased by buyers, including remote merchandise.

The subsequent contrast is that the GDP Deflator is a proportion of the costs all things considered and benefits while the CPI is a proportion of just merchandise purchased by shoppers.

6 0
3 years ago
Select all of the true statements regarding Gary Hamel's thoughts on management:
SIZIF [17.4K]

Answer: • management innovation is essential to future organizational success

• we must look at management as a process, and then make improvements and innovation ongoing and systematic

• much of management theory is dated and doesn't fit the current realities of organizational life

Explanation:

The true statements regarding Gary Hamel's thoughts on management are:

1. management innovation is essential to future organizational success

2. we must look at management as a process, and then make improvements and innovation ongoing and systematic

3. much of management theory is dated and doesn't fit the current realities of organizational life

According to Gary Hamel, yesterday's best practices of organizations can not be creative or adaptable for the business challenges tomorrow.

7 0
3 years ago
Corporate social investment definition
IgorLugansk [536]
Definition: 

Contributions that bring benefits over and above those directly associated with the core business activities and events. These contributions can include monetary, employee time, employee resources, and gifts of any kind. 
3 0
3 years ago
Suppose you own 500,000 shares of common stock in a firm with 40 million total shares outstanding. The firm announces a plan to
Roman55 [17]

Answer:

62,500 shares

Explanation:

common stock = 500,000 shares

Total shares outstanding = 40 million

Percentage of existing holding:

= (Shares of common stock ÷ Total shares outstanding) × 100

= (500,000 ÷ 40,000,000) × 100

= 1.25%

New shares that can be purchased:

= Number of new shares sold × Percentage of existing holding

= 5 million × 1.25%

= 62,500 shares

6 0
3 years ago
Jasper Corp. has a selling price of $44, and variable costs of $25 per unit. When 14,600 units are sold, profits equaled $133,00
AURORKA [14]

Answer:

Break-even point in units= 7,600

Explanation:

Giving the following information:

Selling price= $44

Unitary variable cost= $25

When 14,600 units are sold, profits equaled $133,000.

<u>First, we need to calculate the total fixed costs:</u>

Fixed costs= Total contribution margin - net income

Fixed costs= 14,600*(44 - 25) - 133,000

Fixed costs= $144,400

<u>To calculate the break-even point in units, we need to use the following formula:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 144,400 / (44 - 25)

Break-even point in units= 7,600

5 0
3 years ago
Other questions:
  • Four grams of musk oil are required for each bottle of mink caress, a very popular perfume made by a small company in western si
    12·1 answer
  • When firms are said to be price takers, it implies that if a firm raises its price: a. buyers will go elsewhere. b. buyers will
    13·1 answer
  • John and Audrey have been married for twenty years. Throughout their marriage, John worked at ABCD Company, a corporation that m
    11·1 answer
  • The recapture of depreciation changes the character of the gain on a Section 1231 asset from a(n) _________ gain to ________ inc
    6·1 answer
  • On April 17, 2021, the Loadstone Mining Company purchased the rights to a coal mine. The purchase price plus additional costs ne
    15·1 answer
  • Mason is restoring a car and has already spent $3500 on the restoration. He could sell the car now for $2800. However, if Mason
    8·1 answer
  • Seamstresses at Rear Gear, a large maker of backpacks, have become more productive due to the firm’s recent purchase of new sewi
    12·1 answer
  • What is the award recieved after completing a four year undergrad program called?
    10·1 answer
  • For product costs associated with a particular product to be reported on the income statement: Group of answer choices The produ
    8·1 answer
  • Dollar General sells convenience items such as light bulbs, laundry detergent, and milk at a lower price than a customer pays at
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!