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
Gnesinka [82]
3 years ago
6

Your savings account is currently worth $1,200. The account pays 5 percent interest compounded annually. How much will your acco

unt be worth 6 years from now?
Business
1 answer:
Flura [38]3 years ago
7 0

Answer:

$2,010  

Explanation:

The future value of the savings account in 6 years can be computed using the below future value formula:

FV=PV*(1+r)^n

FV=unknown future amount

PV=current worth of the savings account=$1,200

r=annual interest rate=5%

n=number of years envisaged=6

FV=$1,500*(1+5%)^6

FV=$1,500*(1.05)^6

FV=$1,500*1.3400956  

FV=$2,010  

You might be interested in
Pink cheques, an insurance company, recently came under close scrutiny after its top management was involved in a major scam. Th
IgorLugansk [536]

I believe the answer is: high magnitude of consequences.

Event with high magnitude of consequences refers to the type of event which resulted in negative impact for a large number of people (such as loss of many jobs, destruction of health, etc) . Such event usually ignited by immoral actions that conducted for small group of people to obtain certain level of profit or desire.


4 0
3 years ago
Sigma Corporation owns 80% of the stock of Epsilon Corporation, which pays it a dividend of $100,000. Sigma Corporation also own
kvv77 [185]

Answer:

d. $132,000

Explanation:

Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.

$100,000 + $40,000 * 80% = $132,000

6 0
3 years ago
The understatement of the ending inventory balance causes:
Nina [5.8K]

Answer: The correct answer is "E. Cost of goods sold to be overstated and net income to be understated.".

Explanation: The understatement of the ending inventory balance causes:  

<u>Cost of goods sold to be overstated and net income to be understated.</u>

8 0
3 years ago
Which of the statement(s) is correct? i. Corporations rarely pay tax on the interest income. ii. Higher tax bracket people tend
Doss [256]

Answer:

E. All the statements are correct

Explanation:

i. Corporations rarely pay tax on the interest income.

This statement is correct. Some companies do not even pay any income taxes.

ii. Higher tax bracket people tend to buy municipal bond because it is federal tax exempt.

Correct, people who have high incomes, and are subject to a high federal income tax rate often buy municipal bonds because these bonds are exempt from federal income tax.

iii. Short term capital gain and long-term capital gain are treated differently for individuals.

Correct. Short-term capital gains are those obtained from the sale of property that was owned for less than one year. This gains are often treated with the highest tax rate.

Long-term capital gains are those obtained from the sale of property that was owned for more than one year, and are treated with more favorable tax rates.

iv. The corporate tax rates in the U.S. is one of the lowest among the developed nations.

This statement is correct. The corporate tax rate in the U.S. is a nominal 21% (the effective rate can be as low as 0% for some companies). This is one of the lowest rates among developed nations, whose rates hover around 25 to 30% on average.

5 0
3 years ago
A(n) ________ includes how employees should react to security problems, whom they should contact, the reports they should make,
Alona [7]
An "Incident Response Plan". :)
6 0
3 years ago
Read 2 more answers
Other questions:
  • Treasury Stock Transactions SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On M
    9·1 answer
  • Using positive self-talk is a great way to
    14·2 answers
  • The U.S. Treasury offers to sell you a bond for $715.00. No payments will be made until the bond matures 15 years from now, at w
    14·1 answer
  • When a product has gained a certain level of brand awareness, firms use __________ advertising to motivate consumers to want to
    9·1 answer
  • When you compose a message, you want your audience to find the information it needs quickly and to understand it. Your message s
    11·1 answer
  • Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel ma
    7·1 answer
  • An​ avant-garde clothing manufacturer runs a series of​ high-profile, risque ads on a billboard on highway 101 and regularly col
    11·1 answer
  • 32. How many significant accounting policies are listed under its Summary of Significant Accounting Policies
    11·1 answer
  • Say you own an asset that had a total return last year of 11.7 percent. If the inflation rate last year was 6.9 percent, what wa
    13·1 answer
  • To determine if the bank's Web site is secure, look at the web site address.<br><br> True<br> False
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!