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
Ludmilka [50]
3 years ago
5

How much money does Ted need to invest each month in order to accumulate $10,000 over a five-year period, if he expects to get a

return of 5.625% per year
Business
1 answer:
Kipish [7]3 years ago
7 0

Based on the amount to be accumulated and the return, the amount to invest per month is<u> $144.71.</u>

The amount to invest will be constant which makes it an annuity. First we need to convert the interest rate and period to periodic figures.

<h3>Periodic Interest                                      Number of periods </h3>

= 5.625% / 12 months                                            = 5 years x 12 month

= 0.46875%                                                             = 60 months

The $10,000 will be the future value of the annuity.

<h3>Amount to invest </h3>

Future value of annuity = Annuity x ( ( 1 + interest) ^ number of periods -1)/interest

10,000 = Annuity x ( ( 1 + 0.46875%)⁶⁰ - 1) / 0.46875%

10,000 = Annuity x 69.101758487

Annuity = 10,000 / 69.101758487

= $144.71

In conclusion, he should invest $144.71 each month.

Find out more on the future value of annuities at brainly.com/question/24559701.

You might be interested in
East Coast Cleaners borrows $20,000 for 120 days and pays $400 interest. What is the effective rate of interest if the loan is d
Vika [28.1K]
The answer is 4.0 because i you said get your money from
5 0
3 years ago
these students have an increase in sadness and depression question 7 options: a) elementary school b) middle school c) high scho
stealth61 [152]
 C) High school

Depression and sadness generally begin at the age of 12, which is directly in the middle of middle school (about 7th grade), but is much more common in 13-17 year olds. I would say high school is a better answer to this question. 

Hope I'm able to help!
6 0
3 years ago
The following 3 questions are based on this information. Kings Department Store has 625 rubies, 800 diamonds, and 700 emeralds f
ExtremeBDS [4]

Answer:

129 bracelets and 59 necklaces.

Explanation:

Kings departments store wants to maximize profit by making a combination of its two products necklaces and bracelets. The King store should use a strategy so that it can generate maximum profit with its available rubies, diamonds and emeralds.  

$250a + $500b = Maximum Profit

For rubies : 2a + 5b = 625

For Diamonds : 3a + 7b = 800

For Emeralds: 4a + 3b = 700

Solving the equation we get maximum profit value of $61,750.The King departments stores should make 129 bracelets and 59 necklaces which will bring maximum profit to the store.

7 0
3 years ago
Corporate blogs are easy to maintain because they do not require in-depth writing or monitoring of comments.​ True False
Hoochie [10]

The answer to this question is FALSE. Corporate blogs are not easy to maintain because in making business blogs time is always needed especially in having a schedule in posting frequently in the blog. Corporate blogs can be external or internal blogs. External blogs are blogs that are available in the public to see and interact while Internal blogs are blogs within the company organization use only. 

3 0
3 years ago
The Grind coffee shop offers drink cards to purchasers of its gourmet coffees with ten spaces. The cashier punches one space wit
Vera_Pavlovna [14]

A unilateral contract
With each cup of coffee purchased, the cashier punches a space. The card can be used to redeem a free coffee once all ten spaces have been punched. This serves as an illustration of a unilateral contract.
-Unilateral contract - A unilateral contract
explicitly states that payment will only be provided in exchange for performance by one side. A prize or a competition is another illustration of a unilateral contract. In a unilateral contract, the offeror has the right to withdraw it prior to the offeree's commencement of performance. Usually, the revocation must be made in writing. An insurance policy contract, which is typically only partially unilateral, is an illustration of a unilateral contract. The offeror is the sole party having a contractual responsibility in a unilateral contract. Most unilateral agreements are one-sided.
Learn more about the unilateral contract on brainly.com/question/3257527
#SPJ4

6 0
1 year ago
Other questions:
  • Which economic system emphasizes the private ownership of most factors of production
    8·1 answer
  • After completing the research process, writers should include their findings by
    5·1 answer
  • What refers to the amount of a product offered for sale at all possible prices in a market
    15·1 answer
  • The simple objective of financial planning is to make the best use of your resources to achieve your financial goals.
    13·1 answer
  • Sauder Corporation reports the following information: Net income $380,000 Depreciation expense 70,000 Increase in accounts recei
    5·2 answers
  • Village Corp., a calendar year corporation, began business in year 1. Village made a valid S corporation election on December 5,
    8·1 answer
  • Circular 230 requires due diligence from a practitioner in all of the following circumstances except
    15·1 answer
  • What type of account is recommended for unexpected expenses?
    10·1 answer
  • What are the 5 whys in business
    13·2 answers
  • After World War I and the Great Depression, consumers purchased far less. To address overproduction, companies relied on adverti
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!