answer.
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
Zina [86]
2 years ago
11

You are going to deposit $21,000 today. You will earn an annual rate of 4.1 percent for 15 years, and then earn an annual rate o

f 3.5 percent for 18 years. How much will you have in your account in 33 years?
Business
1 answer:
Dafna11 [192]2 years ago
3 0

Answer:

$71,720.

Explanation:

We can find the answer by finding the future value for the two periods (the 15 years under 4.1% interest rate, and the 18 years under 3.5% interest rate) using the future value of an investment formula:

FV = PV (1 + i)^n

Where:

  • FV = Future value
  • PV = Present value
  • i = interest rate
  • n = number of compounding periods

Now, for the first period of time, we plug the amounts into the formula:

FV = $21,000 (1 + 0.041)^15

FV = $38,369

Now, we take that result, and apply the same formula:

FV = $38,369 (1 + 0.035)^18

FV = $71,270

So, the total amount you will have in your account after 33 years is $71,720.

You might be interested in
Drew Cane Products, Inc., processes sugar cane in batches. The company buys a batch of sugar cane from farmers for $90 which is
KatRina [158]

Answer:

The financial advantages from further processing the batch into two end products is $44.

Explanation:

- The financial advantages from further process can fiber into industrial fiber is calculated as:

  + Price of industrial fiber - price of can fiber - cost of further process into industrial fiber = 45 - 21 - 13 = $11.

- The financial advantages from further process can juice into molasses is calculated as:

  + Price of molasses - price of molasses - cost of further process into molasses = 103 - 29 - 41 = $33.

The total financial advantages from further processing the batch into two end products is calculated as: The financial advantages from further process can fiber into industrial fiber + The financial advantages from further process can juice into molasses = 11 + 33 = $44.

7 0
2 years ago
Staff ____________ offers one of the brightest hopes for internal change in state corrections, and staff development has become
Sav [38]

Answer:

The correct answer is "staff training"

Explanation:

Staff training is a program designed to improve the technical skills, knowledge, performance, efficiency, and value creation of the employees.

7 0
2 years ago
Dogs R US uses the perpetual inventory system to account for its merchandise. On May 1, it returned $50 of merchandise due to a
nataly862011 [7]

Answer:

F. Debit Accounts Payable $50.

B. Credit Merchandise Inventory $50.

Explanation:

As the company uses perpetual Inventory System, the journal entry to record the purchase return will be -

Debit           Accounts Payable             $50

Credit          Merchandise Inventory    $50

As the purchase was on credit, cash would not be either debit or credit. As the Merchandise Inventory returned to the suppliers, inventory was decreased. Hence, inventory will not be debit. Accounts payable was reduced too. Therefore, accounts payable will not be credit. Purchase returns are used in the periodic inventory system.

3 0
2 years ago
Calculate the net income earned during the year. Assume that the change to stockholder's equity results only from net income ear
Nutka1998 [239]

Answer:

The net income earned during the year is $ 5,000

Explanation:

The first point to kn ow is the accounting equation is A=L+SE

So to calculate the opening stockholders equity we can rearrange the accounting equation to be:

A-L = SE

so opening SE is

Assets $ 50,000 - Liabilities $ 40,000 =  Stockholders Equity $ 10,000

Ending Stockholders equity is:

Assets $ 35,000 - Liabilities $ 20,000 = Stockholders Equity $ 15,000

Since the question mentions that the change in stockholders equity is only due to net income, the increase of $ 5,000 represents the net income for 2019.

7 0
2 years ago
Which of the following statements concerning service guarantees is FALSE? A service guarantee is a mechanism to build customer l
Serhud [2]

Answer:

A service guarantee is a way to avoid compensating customers for a service failure.

Explanation:

4 0
1 year ago
Other questions:
  • What order will result in a final output of 131 065 when the first input is 64?
    6·1 answer
  • According to the definitions given in the text, if Stock A has a standard deviation of 4% and expected returns of 9%, and Stock
    13·1 answer
  • Which of the following pairs of accounts could not appear in the same adjusting entry? a. Interest Income and Interest Expense b
    5·1 answer
  • Dawn Corp. uses a standard cost system. During the year, both the labor rate variance and the labor efficiency variance were unf
    8·1 answer
  • Suppose the demand curve for a product is represented by a typical downward-sloping curve. Now suppose that the demand for this
    5·1 answer
  • Explain how each of the following events changes the demand for or supply of jeans. A. Upper A new technology becomes available
    9·1 answer
  • Kay owns two annuities that will each pay $500 a month for the next 12 years. One payment is received at the beginning of each m
    10·1 answer
  • Livingston Fabrication has created the following aggregate plan for the next 5 months (see PDF): Assume that Livingston will hav
    12·1 answer
  • A Calculate inventory amounts when costs are rising (LO6-3)
    15·1 answer
  • A company rents office space for $10,000. The company hasn’t yet recorded payment as an expense in the financial statements beca
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!