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Black_prince [1.1K]
2 years ago
15

Item 11Item 11 You are going to deposit $24,500 today. You will earn an annual rate of 5.5 percent for 8 years, and then earn an

annual rate of 4.9 percent for 11 years. How much will you have in your account in 19 years
Business
1 answer:
eduard2 years ago
8 0

Answer:

$63,637.94

Explanation:

$24,500 is deposited in the bank

5.5% annual rate will be earned in 8 years

= 5.5/100

= 0.055

4.9% annual rate will be earned in 11 years

= 4.9/100

= 0.049

The first step is to calculate the future value of the amount after 8 years

= amount deposited×(1+r)^n

r is the annual rate, n is the number of years

= $24,500×(1+0.055)^8

= $24,500×1.055^8

= $24,500×1.534686515

= $37,599.8196

Therefore, the amount that would be present in the account in 19 years can be calculated as follows

= amount at the end of year 8×(1+r)^n

where r = 0.049, n= 11

= $37,599.8196×(1+0.049)^11

= $37,599.8196×1.049^11

= $37,599.8196×1.692506597

= $63,637.94

Hence the amount present in the account in 19 years is $63,637.94

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Answer:

C

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Liono4ka [1.6K]

Answer and Explanation:

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1.

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$0.50 - $0.20

= $0.30

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= $215 ÷ $0.30

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2.

Revenue for 4,200 miles is

= $0.50 × 4,200

= $2,100

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= $2,100 - $840

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3.

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Answer:

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So, after solving this, the present value is $427,011.92

8 0
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