Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 06, 2024

$53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. How much is in the account

$53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. How much is in the account after four years? Round your answer to the nearest whole number.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Technology Ventures From Idea To Enterprise From Idea To Enterprise

Authors: Richard C Dorf, Byers

3rd Global Edition

9780071289214

More Books

Students also viewed these Economics questions

Question

★★★★★

Find C in the network shown such that the total load has a power factor of 0.9 lagging. 4.6 kV rms Balanced three-phase source 60 Hz Balanc ed three-phase load 6 MVA 0.8 pf lagging

Answered: 1 week ago

Question

★★★★★

Liz Hicks Accounting Ltd.s (LHA) policy is to report all cash flows arising from interest and dividends in the operating section. LHA owns a 30% interest in an associated company, LH Bookkeeping Inc....

Answered: 1 week ago

Question

★★★★★

Determine the value of ????crit for a lower-tailed test when (a) ???? = 0.01. (b) ???? = 0.05. (c) ???? = 0.10.

Answered: 1 week ago

Question

★★★★★

On January 1, 2009, the Baker Corporation issued $100,000 of five-year bonds due December 31, 2013, for $103,604.79 less bond issue costs of $3,000. The bonds carry a face rate of interest of 13%...

Answered: 1 week ago

Question

★★★★★

1) Improved understanding of competitors' strategies is : A)Benefits of Strategic Management B)Policies c)Pitfalls in Strategic Planning D)none of all above 2) Assessing the Internal Environment by:...

Answered: 1 week ago

Question

★★★★★

The 2018 balance sheets and income statement for Netflix Inc. follow. Refer to these financial statements to answer the requirements. NETFLIX INC. Consolidated Statement of Earnings For Year Ended...

Answered: 1 week ago

Question

★★★★★

Exam Chapter 5-6 Perpetual Iventery Using LEFO Beginning Inventory, purchases, and sales dsta for prepaid cell phenes for July are as follows Ieventory July 1 Purchases 2,400 units at $21 July 10...

Answered: 1 week ago

Question

★★★★★

Search for 5 examples of Cloud-based Hotel PMS and explain its features and benefits.

Answered: 1 week ago

Question

★★★★★

Productivity gains have fueled the expansion of American business over the last 30 years including through several jobless recoveries. A) What are the only two ways to increase productivity?

Answered: 1 week ago

Question

★★★★★

Describe how control charts are drawn and used to determine if a process is out of statistical control. Explain the International Standards for quality documentation. Introduction Developing...

Answered: 1 week ago

Question

★★★★★

Select two or three of their attributes that Elon Muskshould either immolate or avoid in professional life. Define, cite, and apply these traits. Provide examples from your research, cite your...

Answered: 1 week ago

Question

★★★★★

Consider a project in which you are currently involved (or in which you have recently been involved). Describe the two different types of contracts that is available for you to use, and which one...

Answered: 1 week ago

Question

★★★★★

=+would you avoid a bank that received negative press coverage because of an ethical or CSR transgression?

Answered: 1 week ago

Question

★★★★★

=+3. How did you choose where to open your main bank account? Would you ever choose a bank based on its CSR performance? Alternatively,

Answered: 1 week ago

Question

★★★★★

=+4. Go to the Equator Principles Web site (http://www.equatorprinciples.com/). Is it naive to expect huge financial organizations to aspire and adhere to the values and principles contained within...

Answered: 1 week ago

Previous Question Next Question