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]
3 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]3 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
Large data units are broken into smaller pieces by a process called
dsp73

The answer in the description above is segmentation. This is the process of which large data undergone into having their properties to be broken into small pieces in which will help in having them to fit with a specific TCP segment.

6 0
3 years ago
Bubba is a shrimp farmer. In an ironic​ twist, Bubba is allergic to​ shellfish, so he cannot eat shrimp. Each day he has a​ one-
attashe74 [19]

Answer and Explanation:

In the absence of sufficient information about the expenses and other factors, which related to money, we have to consider market price as the value of shrimp.

The value of Shrimp is $10,700 per ton because, In this scenario, we have only market rate to consider the value of shrimp.

Therefore $10,700 is the price of 1-ton shrimp.

6 0
3 years ago
Adam Fleeman, a skilled carpenter, started a home improvement business with Tom Collins, a master plumber. Adam and Tom are conc
makkiz [27]

Answer:

on average medicare tax is 1.45 % tax and social security is 6.25 % so simply multiply by those numbers their net income and go from there

Explanation:

8 0
4 years ago
At the beginning of 2009, Little Company bought a bond with a $18 million face value and an annual coupon rate of 7.4%. It has a
aliya0001 [1]
Coño coño means coño coño
5 0
3 years ago
Which of the following statements about minimum payments is incorrect
zhuklara [117]
Is this the whole question?
6 0
3 years ago
Other questions:
  • Monique has a balance of $5440 on a credit card with an apr of 17.7%. paying off her balance in which of these lengths of time w
    7·2 answers
  • A process in which different individuals and units perform different tasks is known as:
    14·1 answer
  • produces class rings. Its​ best-selling model has a direct materials standard of grams of a special alloy per ring. This special
    8·1 answer
  • Which statement is correct? a. Producers are "Kings" in a market economy because they determine what is produced. b. Freedom of
    9·1 answer
  • If an account is collected after having been previously written off:
    10·2 answers
  • Suppose you are considering the purchase of an apartment building that has 12 units that can be rented out at $1,050 per month.
    7·2 answers
  • Niles Industries is a merchandising company. It currently holds $6,000 in consignment goods for Martin Corporation. In addition,
    15·1 answer
  • Conducting a thorough assessment to document what sensitive information an organization is collecting, where it is stored, how l
    13·2 answers
  • An administrative (office) employee earns an annual salary which, when divided by total hours worked during the year, is the equ
    9·1 answer
  • ________ exists when a large number of firms produce goods that are similar but customers believe there is a difference.
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!