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tia_tia [17]
2 years ago
7

Assume that the future value of an ordinary annuity is $3,246, the annual payment is $1,000, and the interest rate is 8 percent.

How many years will it take the $1,000 annual payments to grow to $3,246?
a. 1 year
b. 3 years
c. 5 years
d. 7 years
Business
1 answer:
olga_2 [115]2 years ago
5 0

Answer: b. 3 years

Explanation:

Based on the future value of $3,246 and the annual payment of $1,000, one can guess that the number of payments (years) till the future value is reached will be 3 years.

Plug 3 years in to find out if you are right;

= Annuity * (( (1 + r)^n - 1) / r)

= 1,000 * (( ( 1 + 8%)³ - 1) / 8%)

= $3,246

<em>Answer is proven to be 3 years. </em>

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Kisachek [45]
That statment is true
Telepresence is a tool that allow each team members to communicate with one another even though they're located far apart.
Actually,  if this tool is used correctly, it enhance team's capability to pay attention to a certain individual when he/he is talking about their ideas for the group
8 0
3 years ago
Gell Corporation manufactures computers. Assume that Gell​:
kkurt [141]

Answer:

$83,000

Explanation:

The computation of the actual manufacturing overhead cost is shown below:

= Indirect labor + depreciation on plant + machinery repair + plant supplies + plant utilities

= $11,000 + $48,000 + $11,000 + $6,000 + $7,000

= $83,000

Only these five items would be considered as a actual manufacturing cost. The rest of the items would be ignored

5 0
3 years ago
If $800 is borrowed at 8% interest, find the amounts due at the end of 4 years if the interest is compounded as follows. (Round
Alisiya [41]

Answer:

(i) $133.12

(ii) $297.6

(iii) $300.8

(iv) $301.6

Explanation:

From the compounding formula;

Future value = Present value (1+\frac{r}{m}) ^{mn}

where r is the rate, m is the number of payment per year, and n is the number of years.

Interest = future value - present value

Given that present value = $800, r = 8%, n = 4 years.

(i) annually,

m = 1, so that;

Future value = 800(1.08)^{4}

                     = $933.12

Interest = $933.12 - $800

             = $133.12

(ii) quarterly,

m = 3, so that;

Future value = 800(1+\frac{0.08}{3}) ^{(4x3)}

                      = 800(1.372)

                      = $1097.6

Interest = $1097.6 - $800

             = $297.6

(iii) monthly,

m = 12, so that;

Future value = 800(1+\frac{0.08}{12}) ^{(4x12)}

                     = 800(1.376)

                     = $1100.8

Interest = $1100.8 - $800

             = $300.8

(iv) weekly,

m = 54, so that;

Future value = 800(1+\frac{0.08}{54}) ^{(4x54)}

                     = 800(1.377)

                     = $1101.6

Interest = $1101.6 - $800

             = $301.6

4 0
3 years ago
Choose the best answer to complete the statement.
Grace [21]

Answer:

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A router, also a home network, allows you to connect several computers and other devices to a single Internet connection.

Hope this helps!

3 0
3 years ago
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Sidana [21]

Answer:

have greater marginal utility than existing substitute products

Explanation:

Utility is the satisfaction derived from consuming a good or service.  Products or services that meet or exceed customers' expectations are deemed to have a high utility value. Goods that do not adequately address customers' needs are considered to be of low utility value.

Goods and services deemed to be of high utility value are always in high demand. Consumers will be willing to pay more for such commodities. A product with high utility value will outsell its competitors in the market.

8 0
3 years ago
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