"<span>A company will need 40,000 in 6 years for a new addition. To meet the goal, the company deposits money into an account today that pays 4% annual intrest compund quarterly." Let's pretend that the instructions state, "Determine the amount of money that must be deposited upfront so that you will have $40,000 in 6 years."
Use the Compound Amount formula: A = P(1 + r/n)^(nt),
where P is the principal (the amount deposited upfront), r is the interest rate as a decimal fraction, n is the number of compounding periods, and t is the time in years.
Here, $40000 = P(1 + 0.04/4)^(4*6)
$40000
So the upfront $ needed is P = -------------------------
(1+0.01)^24
This comes out to $31502.65 (answer)</span>
Answer:
I would say A but i am not sure i did not take the test
Step-by-step explanation:
<span>In the given mathematical value of 5,000 to round off this number to the nearest hundred, we can elaborate the number values using the expanded form to clearly see the order position: </span><span><span>1. </span> 5,000 = thousands
</span><span>Now we can observe the numerical value of 4,900 as the rounding number which becomes
4900 = 5000
4800 = 5000
4700 = 5000
4600 = 5000
4500 = 5000
</span><span />
Answer:
5% but not sure
Step-by-step explanation:
80+5+10
