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
kkurt [141]
3 years ago
11

George Bennet wants to give his son $20,000 upon completion of his college education. If he invests $5,500 now in an account ear

ning 9% annual interest, approximately how many years will it take for him to achieve his goal
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
6 0

Answer:

It will take 16.09 years.

Explanation:

Giving the following information:

Future value= $20,000

Present value= $5,000

Interest rate= 9%

<u>To calculate the number of years required to reach the objective, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)  

n= ln(20,000 / 5,000) / ln(1.09)

n= 16.09

It will take 16.09 years.

You might be interested in
When scrutinizing a statement of cash flows in an attempt to gain a better understanding of the client, which would be of most a
Fynjy0 [20]

Answers;

In scrutinizing a statement of cash flows in an attempt to gain a better understanding of the client, the auditor should evaluate to check if the client is meeting interest payments when they are due. The auditor may use information about the client's industry. This is done to evaluate whether significant changes is made in the company from prior periods, including changes in its internal control over financial reporting, affect the risks of material misstatement.

4 0
3 years ago
What strategy did president roosevelt use to restore america's confidence in government and the private banking system?
Klio2033 [76]

The strategy used by president Roosevelt to restore America's confidence in government and the private banking system was that, he reassured fireside talks on the radio.

Roosevelt fought to expand the role of the federal government in the nation's economy, and also embraced Keynesian economic policies. He also implemented a series of projects and programs called the New Deal to stabilize the economy.

Roosevelt called his radio talks about issues of public concern as fireside talks. These talks made Americans feel as if President Roosevelt was talking directly to them. He continued to use fireside talks throughout his presidency to address the fears and concerns of the Americans

Hence, these talks gave confidence to the American people to overcome their fears.

To learn more about Roosevelt here:

brainly.com/question/1000563

#SPJ4

5 0
2 years ago
Which situation best describes the role of businesse in the circular flow of goods
Lyrx [107]
I think is 475848 because I just timed by 48 so I got 475848
3 0
4 years ago
The entry to record a payment on $600 account within the 2% discount period would include
natta225 [31]
Debit to Accounts Payable for $588
3 0
3 years ago
Read 2 more answers
Data shows that the audience for a client's running shoe store is women ages 35 to 50. how can you optimize this client's displa
tatuchka [14]
<span>Women in this age range are most likely mothers to one or more children, so the display network should focus on the messaging moms want to hear, like how these shoes can help them complete their exercise in less time so they can focus on providing for children, working, or maintain their bodies after child birth.</span>
7 0
3 years ago
Other questions:
  • Janet, a manager at hollyoak systems, is known for her passionate and people-friendly ways. janet knows all her employees well a
    9·2 answers
  • McDonald's conducts a value chain analysis of Burger King and discovers that Burger King's logistics and procurement of inputs a
    15·1 answer
  • Smoltz company had $375,000 of current assets and $135,000 of current liabilities before borrowing $90,000 from the bank with a
    11·1 answer
  • What is a stock split and when does it usually occurs?<br>​
    6·1 answer
  • Which view filter(s) would you apply if you wanted to include only users from brazil or argentina?
    13·1 answer
  • The S&amp;R index spot price is 1100, the risk-free rate is 5%, and the continuous dividend yield on the index is 2%. a. Suppose
    10·1 answer
  • To raise operating funds, National Distribution Center sold its office building to an insurance company on January 1, 2018, for
    8·1 answer
  • One year ago, you purchased 500 shares of stock for $22 a share. The stock pays $0.32 a share in dividends each year. Today, you
    13·1 answer
  • Calculate working capital based on the following:
    11·1 answer
  • . what are boyce’s 4 strategies for ""natural asset building"". provide a new example of each strategy (it can be historical or
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!