You are considering investing $4.500 at an interest rate of 8.5% compounded annually for five years or
Question:
You are considering investing $4.500 at an interest rate of 8.5% compounded annually for five years or investing the $4500 at 9% per year simple interest for five years. Which option is better?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Option 1 Compound interes...View the full answer
Answered By
Grace Igiamoh-Livingwater
I am a qualified statistics lecturer and researcher with an excellent interpersonal writing and communication skills. I have seven years tutoring and lecturing experience in statistics. I am an expert in the use of computer software tools and statistical packages like Microsoft Office Word, Advanced Excel, SQL, Power Point, SPSS, STATA and Epi-Info.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
You are considering investing $3,000 at an interest rate of 8% compounded annually for five years or investing the $3,000 at 9% per year simple interest for five years. Which option is better?
-
You are considering investing in two securities, X and Y. The following data are available for the two securities: a. If you invest 40 percent of your funds in Security X and 60 percent in Security Y...
-
You are considering investing in a company that cultivates abalone for sale to local restaurants. Use the following information: The discount rate for the company is 13 percent, the initial...
-
1 points Question 11 Your 91-year-old great-aunt has terminal cancer. You and shehave had many conversations regarding what she would want done ifshe were incapacitated and could not make choices...
-
If each of the following measurements were to be taken on a group of 50 college students (once only for each student), it is unlikely that all 50 of them would yield the same value. In other words,...
-
In international business, marketing is concerned with_ A) Maintaining a steady flow of product-based innovations B) Identifying, measuring, and pursuing customer needs and market opportunities...
-
The school board in Boulder, Colorado, created a hubbub when it announced that 28% of Boulder school children were reading below grade level and hence concluded that methods of teaching reading...
-
Healthy Living Foods, Inc., is authorized to issue 4,250,000 shares of $1.00 par common stock . In its initial public offering during 2012, Healthy Living issued 390,000 shares of its $1.00 par...
-
Select Three ( 3 ) reflective tasks from the book of Dale Carnegie ( How to stop worrying and start living ) , that you feel best evidence your development on the module.
-
Read the given description of a CSP and write solution as per the given questions: [20] YCPS@GIFT is going to arrange a gaming competition at campus. They are considering using seven games for this...
-
You are about to borrow $15000 from a bank at an interest rate of 8% compounded annually. You are required to make three equal annual repayments the amount of $5,820.50 per year, with the first...
-
It always makes the papers when a well-known sports star signs a multi-million dollar contract. (such as the payment schedule for a football player who has signed a 10-year, $130 million contract...
-
An elevator travels at a nearly constant speed from the ground to an observation deck at 160 m. This trip takes 40 s. The trip back down is also at this same constant speed. a. What is the elevator's...
-
If the length of the pendulum is increased four times, a. the time-period will increase by four times b. decrease by four times increase by two times c. decrease by two times d. no change.
-
What strategies can organizations employ to institutionalize inspirational leadership principles and embed them within their organizational DNA?
-
Discuss and identify barriers to implementing each goal and what actions could be taken to reduce those barriers: Achieve 100% compliance with state health and safety regulations for retirement homes...
-
How could Philips increase the flexibility of its supply chains? How could the company reduce the complexity of its supply chains? What are the potential advantages and disadvantages of different...
-
discuss the ethical considerations associated with leveraging inspiration as a motivational tool, particularly in terms of avoiding manipulation or exploitation of emotions?
-
How do manufacturer and retailer cooperative advertising goals overlap? How do they differ?
-
Dawson Companys balance sheet information at the end of 2019 and 2020 is as follows: Additional information: The company did not issue any common stock during 2020. Required : Next Level Fill in the...
-
Suppose you are in the market for a new car worth $22,000. You are offered a deal to make a $2,000 down payment now and to pay the balance in equal end-of-month payments of $505.33 over a 48-month...
-
Clay Harden borrowed $25,000 from a bank at an interest rate of 9% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. Immediately after his 20th payment....
-
You plan to buy a $250,000 home with a 20% down payment. The bank you want to finance the loan suggests two options: a 15-year mortgage at 4.25% APR and a 30-year mortgage at 5% APR. What is the...
-
1: [2.3 #5] Determine if the following matrix is invertible. Use as few calculations as possible. 0 3 1 0 2 -9 7
-
You are looking at two 1 0 - year cash flow projections ( in millions, including resale ) for the same property. The top row shows the estimates the seller of the property is presenting. The bottom...
-
Let A = 50 T(u) = T(v) = a Tofu = [ 1 ] and [8] -4 v = and define T: R2 R by T(x) = Ax. Find the images under T of u = 05
Study smarter with the SolutionInn App