Answer:
1) The account will be worth $328,983 after 45 years.
Explanation:
If we make 9.75% annually for 45 years our account will be worth 5000 compounded at 9.75% for 45 years. So account worth after 45 years =
5000*1.0975^45=328,983
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Answer:
Project D
Explanation:
Payback period calculates the amount of time it takes to recover the amount invested in a project.
Pay back period = Cost of project / revenue from project.
For project c, its Pay back period is $30,000 / $5,000 = 6 years
For project d, the Pay back period is $120,000 / $50,000 = 2.4 years
The project with the shorter Pay back period is better
I hope my answer helps you