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victus00 [196]
2 years ago
6

explain three steps an eighth grader should take to create a college savings plan if she is interested in attending a two year t

raining program
Business
2 answers:
yan [13]2 years ago
7 0

Answer:

Sample Response: First, the student should estimate the cost of attending a two-year program. Then she should plan to save part of that cost. Finally, she should determine how much to budget for periodic deposits.

DedPeter [7]2 years ago
4 0

1. Determine the total cost of the program (tuition, fees, books, cost of living, etc)

2. Determine how much of this they will have to save up for (aka the amount not covered by taking out student loans)

3. Break down that total amount into periodic savings deposits. So if you need $10,000 and you have 4 years, make a plan to save $2,500 a year.

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Jane Smith has $20,000 in a brokerage account, and she plans to contribute an additional $7,500 to the account at the end of eve
belka [17]

Answer:

how many years will it take for Jane to reach her goal?

19 years

Explanation:

Years Investm % Int. Int.     capital

1 20.000,00 8% 1.600 21.600

2 29.100,00 8% 2.328 31.428

3 38.928,00 8% 3.114 42.042

4 49.542,24 8% 3.963 53.506

5 61.005,62 8% 4.880 65.886

6 73.386,07 8% 5.871 79.257

7 86.756,95 8% 6.941 93.698

8 101.197,51 8% 8.096 109.293

9 116.793,31 8% 9.343 126.137

10 133.636,78 8% 10.691 144.328

11 151.827,72 8% 12.146 163.974

12 171.473,94 8% 13.718 185.192

13 192.691,85 8% 15.415 208.107

14 215.607,20 8% 17.249 232.856

15 240.355,77 8% 19.228 259.584

16 267.084,24 8% 21.367 288.451

17 295.950,98 8% 23.676 319.627

18 327.127,05 8% 26.170 353.297

19 360.797,22 8% 28.864 389.661

6 0
2 years ago
Bill O’Brien would like to take his wife, Mary, on a trip three years from now to Europe to celebrate their 40th anniversary. He
Maurinko [17]

Answer:

10%

Explanation:

Use future value formula

Future Value =  Present Value ((1+r)^n)

26,600 =  20,000 ((1+r)^3

26,600/20,000 = (1+r)^3

1.33 = (1+r)^3

1.33^1/3 = 1+r

1.0997 = 1+r

1.0997 - 1 = r

r = 0.997 = 9.97% = 10% (rounded of to the nearest whole percentage)

8 0
2 years ago
6-19. Six sites have been identified for a parking lot in downtown Blacksburg. Because the sites are plots of land, their salvag
Lemur [1.5K]

Answer:

Site B should be chosen based on the IRR criterion

Explanation:

Please check the attached image for the complete question

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

When comparing projects, the project with the highest IRR should be chosen.

I hope my answer helps you

3 0
2 years ago
You owe $8,000 in student loans and would like to pay it all off with your commissions. Use Goal Seek to determine the amount yo
shutvik [7]

Answer:

If we select G3 cell in the spreadsheet the limit will be set to $10,000

Explanation:

Goal seeking is technique used in Excel to calculate the input value that will give out the current output value. It can be used for trial or logical means. This can be referred to as what if analysis or back solving technique. In the current problem the cell G3 has the value of $8,000 that is owed as a student loan. We select the Goal seek in excel, set cell as G3 and set limit as $10,000.

3 0
2 years ago
Method A assumes simple interest over final fractional periods, while Method B assumes simple discount over final fractional per
Marina86 [1]

Answer:

The answer is "1.1"

Explanation:

In the case of a single Interest, the principal value is determined as follows:

\ I = Prt \\\ A = P + I\\A = P(1+rt) \\\\A = amount \\P= principle\\r = rate\\t= time

In case of discount:

D = Mrt \\P = M - D \\P = M(1-rt)\\\\Where,  D= discount \\M =\  Maturity  \ value \\

Let income amount = 100, time = 1.5 years, and rate =20 %.

Formula:

A = P(1+rt)  

A =P+I

by putting vale in the above formula we get the value that is = 76.92, thus method A will give 76.92  value.

If we calculate discount then the formula is:

P = M(1-rt)

M = 100  rate and time is same as above.

P = 100(1-0.2 \times 1.5) \\P = 100 \times \frac{70}{100} \\P = 70

Thus Method B will give the value that is 70  

calculating ratio value:

ratio = \frac{\ method\  A \ value} {\ method \ B \ value}\\\\\Rightarrow ratio = \frac{76.92}{70}\\\\\Rightarrow ratio = \frac{7692}{7000}\\\\\Rightarrow ratio = 1.098 \ \ \ \  or \ \ \ \  1.

4 0
2 years ago
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