Answer:
$28,121
Explanation:
The formula for compound interest is A=P(1+r/100)t, (t) is in the exponent.
P=25,000
r=4
t=3
Once we input the values it will be: A=25000(1+4/100)3
And so our answer is $28,121
P.S The reason we are using compound interest formula is bcz the said (<u>compounded </u>monthly)
A cover letter refers to the letter that one usually send along with one's curriculum vitae or resume to a potential employer. It is usually a single page letter that gives employer more information about the applicant, the information in the letter are not usually find in the resume.
After introducing one self in a cover letter, the body of the letter should highlights one's qualifications and shows how one stand out from the rest of the other applicants.The body of the letter should highlight the reasons why you are the perfect candidate for the position you are applying for.
Answer:
The adjusted bank and book balance is shown below:-
Explanation:
The computation of the adjusted bank and book balance is given below:-
Bank statement balance Book balance
Opening balance $26,960 $26,620
Add: Transit Deposit $3,000 Earned Interest $150
Less: Outstanding check 4000 Error on check $810
($4,900 - $4,090)
Adjusted Balance $25,960 $25,960
Answer:
- <u><em>No, he will not have enough money to buy his delivery truck at the end of 6 years.</em></u>
Explanation:
To find how much<em> money Earl Mille</em>r, <em>owner of Papa Gino's franchise</em>, will have in <em>6 years</em>, you must calculate the value of the <em>$20,000</em> that he <em>invests</em> at the <em>5% compounded semiannually:</em>
- Semianual compounded interest: 5% / 2 = 0.05/2 = 0.025
Equation:
Where r/n was already calculated: r/n = 0.05/2 = 0.025; and t is the number of years: 6.
Hence the value of the money invested is less than the value of the truck, and <em>he will not have enough money to buy his delivery truck at the end of 6 years.</em>
