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Ede4ka [16]
4 years ago
9

Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee de

posits an additional $40,000 at 9% interest compounded semiannually. What is the balance in Lee's account?
Business
2 answers:
malfutka [58]4 years ago
7 0

Answer:

The balance in Lee's account is $72,680.5

Explanation:

The formula to calculate amount for a compound interest is given as,

A = P(1+r)^n

Since the interest is compounded semiannually, at the end of year 3, the amount in Lee's account would be = 15000(1+0.09)^6 = 15000(1.09)^6 = $25,156.50

At the beginning of year 4, she deposits an additional $40,000

At the end of year 4, the amount in Lee's account would be = 40,000(1+0.09)^2 = 40,000(1.09)^2 = $47,524

Lee's balance = $25,156.50 + $47,524 = $72,680.5

myrzilka [38]4 years ago
3 0

Answer:

$77,528.75

Explanation:

we can divide this calculation into two time periods, the first one will last 3 years:

future value = present value (1 + r)ⁿ

  • n = 6
  • present value = $15,000
  • r = 9% / 2 = 4.5%

future value = $15,000 (1 + 4.5%)⁶ = $19,533.9 ≈ $19,534

the second period will also last 3 years:

future value = present value (1 + r)ⁿ

  • n = 6
  • present value = $19,534 + $40,000 = $59,534
  • r = 9% / 2 = 4.5%

future value = $59,534 (1 + 4.5%)⁶ = $77,528.75

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What does compounding interest mean??
ivolga24 [154]
Compounding interest is interest on top of interest.

For example, say you put 100 bucks in the bank.
You get 10% interest compounded daily on that 100 bucks.

That means that you get 10% interest not only on those 100 bucks, but all the money you make after.

So your interest would go from 10% on 100 bucks, to 10% on 110 bucks and so forth.

I hope this helps and please press that ❤ under my reply, it really helps!
7 0
3 years ago
Dana has standard consumer preferences over two goods: hours spent watching football (W) and hours spent playing football (P). H
Aleks [24]

Answer:

The correct option is Dana might be indifferent between C, A, and B.

Explanation:

Note: See the attached photo for the indifference curve showing points A, B and C.

The answer can be explained using an indifference curve.

An indifference curve is a graph that depicts the combination of two commodities that provide equal satisfaction or utility to the consumer. A consumer is indifferent between the two commodities at each point on an indifference curve because all points on the curve provide him with the same level of satisfaction or utility.

In the attached photo, bundles A, B and C are plotted as points on the same indifference curve (IC). Since points A, B and C are on the same IC, it therefore implies that Dana might be indifferent between C, A, and B.

Therefore, the correct option is Dana might be indifferent between C, A, and B.

4 0
3 years ago
Destiny and Enzo engage in a business transaction. When a dispute arises, Destiny initiates a lawsuit against Enzo by filing a c
WINSTONCH [101]

Answer:

The answer is: A) ​Destiny did not state a claim for which relief can be granted.

Explanation:

A motion to dismiss is a request made by a party involved a court case (usually the defendant) that seeks to make the court dismiss the case. It can be filed on a variety of grounds based on legal deficiencies. One of the common grounds for filing a motion to dismiss is:

  • Failure to State a Claim for Which Relief Can Be Granted: A plaintiff must comply with several requirements in order to file a complaint, including a valid cause of action. A motion to dismiss may be granted if the plaintiff fails to adequately allege all of the elements of the claim or if the complaint fails to allege a measurable injury.
4 0
3 years ago
Assume that interest rate parity holds and that 90-day risk-free securities yield 6% in the United States and 6.5% in Germany. I
Marianna [84]

Answer: 1.356345

Explanation:

Based on the scenario and information provided in the question, the 90-day forward rate will be calculated as:

= Spot Rate × (1 + Germany Interest Rate) / (1 + United States Interest Rate)

= 1.35 × (1 + 6.5%) / (1 + 6%)

= 1.35 × (1 + 0.065) / (1 + 0.06)

= 1.35 × 1.065/1.06

= 1.35 × 1.0047

= 1.356345

3 0
3 years ago
Paquette purchased a building and land and immediately tore down the building how should they record the expense?
hammer [34]

Paquette purchased

federalism

a building and land and immediately tore down the building

Reconstruction

.

Reconstruction

failed by most other measures: Radical Republican legislation ultimately failed to protect former slaves from white persecution and failed to engender fundamental changes to the social fabric of the South. When President Rutherford B.

federalism

debate that had been an issue since the 1790s almost mediately . Hayes removed federal troops from the South in 1877, former Confederate officials and slave returned to With the support of a conservative Supreme Court, these newly empowered white southern politicians passed black codes, voter qualifications, and other anti-progressive legislation to reverse the rights that blacks had gained during Radical Reconstruction. The U.S. Supreme Court bolstered this anti-progressive movement federalism  with decisions in the Slaughterhouse Cases, the Civil Rights Cases, and United States v.

Learn more about

Reconstruction

on:
brainly.com/question/24761999

#SPJ4

7 0
2 years ago
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