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
Vilka [71]
2 years ago
8

Suppose you want to save in order to purchase a new boat. Take the APR to be 4.8%. You want to have $13,000 toward the purchase

of a boat in three years. How much do you need to deposit each month
Business
1 answer:
yan [13]2 years ago
5 0

Answer:

Monthly deposit= $336.46

Explanation:

Giving the following information:

Future Value (FV)= $13,000

Number of periods= 12*3= 36 months

Interest rate= 0.048/12= 0.004

<u>To calculate the monthly deposit, we need to use the following formula:</u>

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

A= monthly deposit

Isolating A:

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

A= (13,000*0.004) / [(1.004^36) - 1]

A= $336.46

You might be interested in
Energizer emphasizes the importance of a relationship marketing. Why?
bearhunter [10]
Energizer emphasizes the importance of a relationship marketing. Why? Relationship marketing builds brand loyalty, interaction and long-term engagement from consumers. Energizer used this method from the beginning wanting to connect with their audience and build one-on-one relationships. The Energizer Bunny came about to promote their brand and customers connected and now recognize the Bunny as part of Energizer. 
4 0
3 years ago
traci budgeted $770 for fixed expenses and $530 for living expenses per month. She has no annual expenses. Her annual net income
Nuetrik [128]

ANSWER: Surplus by $1,152

EXPLANATION: Traci had a budget of $770 for fixed expense and $530 for living expenses per month which adds up to $1,300 expenses per month. Since she has no annual expense, her yearly total expense would be $15,600.

Traci earns $16,752 so by subtracting her expense from income, we get $16,752 - $15,600 = $1,152

7 0
3 years ago
Read 2 more answers
With the Likert scale, it is best to use "flat" or plain statements and let the respondent indicate the intensity of his or her
Basile [38]

Answer:

A

Explanation:

This is because it allows the respondent indicate the intensity of his or her feelings by using the agree-disagree response continuum position according to the Likert survey rating scale.

5 0
3 years ago
_____ helps us understand the different ways that children think differently from adults.
ASHA 777 [7]

Answer:

lets

Explanation:

that the messing

part

8 0
1 year ago
Read 2 more answers
10 points
mars1129 [50]
$4225 here’s how I got the answer so he purchased 13 shares but each share cost $325 so 13 times 325 is 4225
7 0
2 years ago
Other questions:
  • Kevin is maximizing his utility consumption of almond butter sandwiches and sushi. There is a boom in fish in the summer and the
    6·1 answer
  • If you received a constant annual rate of return of 7% on an investment of $10,000, how many years will it take before you have
    10·1 answer
  • Promotion tends to a. overemphasize physiological and safety needs. b. capitalize on existing needs. c. avoid focusing on people
    6·1 answer
  • In the new department she is setting up, Shondra decides that top managers will report to her and that everyone else will report
    10·1 answer
  • What are three locations where you can view your Focused Review for a practice or proctored assessment?
    5·1 answer
  • Identify the accounting assumption or principle that is described below.
    7·1 answer
  • The fares received by taxi drivers working for the City Taxi line are normally distributed with a mean of $12.50 and a standard
    6·1 answer
  • If a monopolist is able to increase the amount of product she sells from 400 to 420 units by lowering the price of that product
    13·1 answer
  • The amount of profit you receive from your investments is usually measured as a percentage of your investment. which of the foll
    9·1 answer
  • How Do A+ on any test
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!