Select the items from the following list that are included in financial literacy.

Samantha put $18,500 into a savings account. after one month, the savings account grew to $18,962.50. after the second month, it

Readme [11.4K]

Answer: $24,747.92

Based on the given amounts of increased in savings for the first 3 months, we have the following assumptions:

1) That the savings increase by 2.44% monthly

$18,962.50 -18,500=462.50, 462.50/18962*100=2.44%

$19,436.56--$18,962.50=$474.06, 474.06/19,436.56*100=2.44%

$19,922.48-$19,436.56=485.92, 485.92/19,922.48*100=2.44%

2) That the monthly interest for the first 3 months had an incremental of $0.30 monthly

462.50,474.06 and 485.92 has an incremental of 11.56 and 11.86 (with a difference of .30)

Continuing on with the increments gives savings of $24,747.92 in the 12th month.

4 0

4 years ago

Read 2 more answers

Here are three things you could do if you do not attend your economics class: go to a free outdoor yoga class with some friends

Elina [12.6K]

Answer:

C

Explanation:

$25 dollars because this is the highest valued alternative forfeited

4 0

3 years ago

Demand per hour for gasoline at a local station is normally distributed with a mean of 875 gallons and std deviation of 55 gallo

marusya05 [52]

The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5

<u>Given data :</u>

Mean value of gasoline per hour = 875 gallons

Standard deviation = 55 gallons

<h3>Determine the probability of demand being greater than 1800 gallons over 2 hours </h3>

Demand for gas in 1 hour = X₁

Demand for gas in 2 hours = X₁ + X₂

Therefore ; ( X₁ + X₂) ~ N ( u₁+u₂, sd₁² + sd₂² )

In order to calculate probabilities for normals apply the equation below

Z = ( X- u ) / sd

where : u = 1800, sd = √ ( 55² + 55² ) = 77.78

using the z-table

P( Y > 1800) = P( Z > ( 1800 - 1800 ) / 77.78)

= P( Z>0 ) = 0.5

Hence we can conclude that The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5.

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5 0

3 years ago

Assume that the money demand function is (M/P)d = 2,200 – 200r, where r is the interest rate in percent. The money supply M is 2

liubo4ka [24]

Answer: The nominal money supply should set at 1,600.

Explanation:

Given that,

Money demand function: (M/P)d = 2,200 – 200r

r - Interest rate

Money supply (M) = 2,000

Price level (P) = 2

If the fed wants to set the interest rate at 7% then,

Money supply = money demand

$(\frac{M}{P})^{s}$ = $(\frac{M}{P})^{d}$

$\frac{M}{P}$ = 2,200 – 200r

P = 2 and r = 7%

$\frac{M}{2}$ = 2,200 – 200 × 7

M = 800 × 2

M = 1,600

The nominal money supply should set at 1,600.

6 0

3 years ago

Afina-wow [57]

Similar to a stock split, a stock <u>dividend</u> also distributes additional shares of stock to existing stockholders on a pro rata basis at no cost to the stockholders.

A stock split is a decision made by the board of directors of a firm to issue more shares to present owners in order to increase the number of shares outstanding.

A stock split is a division of issued shares in a ratio determined by the company, whereas a stock dividend is a dividend paid in the form of extra shares. While in a stock split, already issued shares are divided in accordance with a predetermined ratio, a stock dividend gives stockholders extra shares.

To know more about Stock Split here

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6 0

2 years ago