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Ivahew [28]
2 years ago
13

Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim

deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Jim Moore's account is (use the tables in the handbook):
Business
1 answer:
hjlf2 years ago
5 0

Answer:$119,735.6

Explanation:

To calculate the total in the account,we use the compound interest formula

A= P ( 1+ ( R/2)/100)∧2n

P = $ 12,000 n = 4 R = 12%

A = 12,000 (1+(12/2/100)∧2*4

A = 12,000 ( 1+ ( 6)/100)∧2*4

A = 12,000 ( 1+0.06)∧8

A= 12,000 ( 1.06)∧8

A = 12,000 ( 1.5938)

A= 12,000* 1.5938

A= $ 19,125.6

Another deposit into the account

A = P ( 1+(R/2)/100)∧2n

A= 50,000 (1+12/2/100)∧2*6

A= 50,000 (1+6/100∧12

A = 50,000 ( 1+0.06)∧12

A = 50,000 (1.06)∧12

A= 50,000 ( 2.0122)

A = 50,000* 2.0122

A = 100,610

Therefore, the total in the account

$19,125.6 + $100,610

= $119,735.6

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2 years ago
A couple has decided to increase their income from investments for when they retire in twenty years. Which is the best way they
algol13

Answer:

to enroll in a 401k and investing in the stock market.

Explanation:

According to my research on investment strategies, I can say that based on the information provided within the question their best options to accomplish their goal would be to enroll in a 401k and investing in the stock market. The 401K is a retirement fund that grows over years and the stock market also provides a decent ROI for your money, especially stocks like the S&P 500 which are the safest options and grow steadily over years.

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2 years ago
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At Crater Valley Manufacturing, workers are encouraged to find their own solutions to problems, and to implement their solutions
pentagon [3]

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Explanation: Theory Y refers the leadership style in which the  managers have a perception that their subordinates are highly effective and motivated. These managers do not strictly monitors the performance of their subordinates and encourages self regulation and self control.

In the given case, Crater valley assumes there workers to be committed and give them liberty to make their own decisions.

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2 years ago
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods invent
weqwewe [10]

Answer:  $57,000

Explanation:

Given that,

Beginning finished goods inventory in units = 0

Units produced = 7,000

Units sold = 5,100

Sales = $663,000

Materials cost = $140,000

Variable conversion cost used = $70,000

Fixed manufacturing cost = $490,000

Indirect operating costs (fixed) = $102,000

Total Variable cost of units produced = Materials cost + Variable conversion cost used

                                                               = $140,000 + $70,000

                                                               = $210,000

Variable\ cost\ per\ unit = \frac{Total\ variable\ cost}{units\ produced}

                                               =\frac{210,000}{7,000}

                                               = $30

Units in ending inventory = Units produced - Units sold

                                          = 7,000 - 5,100

                                          = 1,900

Value of Variable costing ending inventory = Units in ending inventory × Variable cost per unit

                                                                        = 1,900 × $30

                                                                        = $57,000

5 0
2 years ago
Cheryl Adams is having trouble defining her target market for the bookstore she's opening in her town, which is home to a small
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The most viable target for her to engage will be the college students and their age group. In this way, she can also tap the tourist market without really having to do much. Hope this helps! Please put Brainliest! Have a great Day!
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