Round 23,748.3753 to the nearest hundredths.

You just opened a brokerage account, depositing $4,500. You expect the account to earn an interest rate of 8.57%. You also plan

Mariulka [41]

Answer:

$74108

Explanation:

Solution

Given that:

Deposit = $4,500

Interest rate =8.57%

Plan to deposit =$3000 at the end of 5 years through 1

n= 20 years

Now

We apply the formula given below:

A=P(1+r/100)^n

Here

A=future value

P=present value

r=rate of interest

n=time period.

Thus

=4500(1.0857)^20+3000(1.0857)^15+3000(1.0857)^14+3000(1.0857)^13+3000(1.0857)^12+3000(1.0857)^11+3000(1.0857)^10

=$74108

Therefore the account value at 20 years (ending) is $74108

5 0

2 years ago

Within the context of Jennifer Aaker's analysis, identify the brand personality that can be associated with a new product whose

Vilka [71]

Answer:

The correct answer is letter "C": competence.

Explanation:

American writer, educator, and psychologist Jennifer Aaker (born in 1967) is the author of the Brand Dimensions model in which she describes five (5) dimensions companies used for the marketing of their products that are related to individuals' personalities. Those personalities are:

Sincerity: characterized by honesty and cheer.
Excitement: characterized by dare, spirit, and imagination.
Competence: characterized by reliability, intelligence, and success.
Sophistication: characterized by the upper class, charm.
Ruggedness: characterized by being outdoorsy and tough.

5 0

2 years ago

You have $55,000 in a savings account that pays 2% interest per year. The inflation rate that year is 3.24%. To calculate simple

Len [333]

Answer:

How much do you make in interest in a year?

$ 1100

How much would you need to have made for your spending power to keep up with inflation in that year?

$ 1782

How much buying power did you lose in that year because of inflation?

$ 682

Explanation:

Your interest formula is given to you.

Interest in a year = principal (the amount invested) * rate (the interest rate) * period (the time you're measuring)

Interest = 55,000 * 2% * 1 year = 55,000 * 0.02 * 1 = $1,100

How much would you need to have made for your spending power to keep with inflation? Your interest rate would have needed to match the inflation rate, otherwise prices are going up faster than you're saving.

Required interest = 55,000 * 3.24% * 1 year = 55,000 * 0.0324 * 1 = $1,782

How much buying power did you lose? The difference between your required interest and your actual interest.

Buying power lost = 1,782 - 1,100 = $682. You lost this much in buying power.

Hope that helped :)

6 0

1 year ago

On January 1, Year 1, Sayers Company issued $280,000 of five-year, 6 percent bonds at 102. Interest is payable semiannually on J

mel-nik [20]

Answer:

The cash received from bond issuance is journalized as follows:

Dr Cash $285,600

Cr Bonds payable $280,000

Cr Premium on Bonds payable $5,600

The June 30 and 31 December Year 1 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

31 December

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

The June 30 and 31 December Year 2 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

31 December

Dr Interest expense(bal fig) $7,840

Dr Premium on bonds $560

Cr Cash $8400

Explanation:

The amount realized from the bond is calculated thus:

$280,000*102%=$285,600

Premium on bond=Bonds proceeds-par value

=$285,600-$280,000

=$5,600

Semi-annual amortization of bond premium=$5,600/5*6/12

=$560

Semi-annual interest payment=$280,000*6%*6/12

=$8,400

5 0

1 year ago

The market interest rate related to a bond is also called the a.stated interest rate b.contract interest rate c.effective intere

never [62]

Answer:

The market interest rate related to a bond is also called the

c.effective interest rate.

Explanation:

Another name for the market interest rate is the current interest rate, the yield-to-maturity, or the effective interest rate. One distinguishing factor is that the market interest rate is always changing whereas the stated interest rate does not change. The stated interest rate is the interest rate actually designated on the face of a bond, which determines the amount of interest that the bondholder receives. This means that the market interest rate is just the rate that investors demand to earn for lending their money to the company.

4 0

1 year ago

Round 23,748.3753 to the nearest hundredths.​

Round 23,748.3753 to the nearest hundredths.