Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 04, 2024

When Carly was born, her parents deposited $12000 in a bank account for her. Using the rule of 70, which one of the following is

When Carly was born, her parents deposited $12000 in a bank account for her. Using the rule of 70, which one of the following is the amount that will be in the bank account when Carly is 28 years old, if the deposit earns 5 percent per year?

$24 000

$96 000

$192 000

$48 000

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

Local Disaster Resilience Administrative And Political Perspectives

Authors: Ellen Russell, Ashley D Ross

1st Edition

1135910618, 9781135910617

More Books

Students also viewed these Economics questions

Question

★★★★★

Frank Frausto delivered newspapers under a renew-able six- month contract called a Delivery Agent Agreement. The agreement identified Frausto as an independent contractor. The company collected...

Answered: 1 week ago

Question

★★★★★

10. Filaments in lightbulbs usually fail just after the bulbs are turned on rather than when they have already been on for a while. Can you explain why?

Answered: 1 week ago

Question

★★★★★

If A and B are two events on a sample space with P(B) Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★

As a prospective owner of a club known as the Red Rose, you are interested in determining the volume of sales dollars necessary for the coming year to reach the break-even point. You have decided to...

Answered: 1 week ago

Question

★★★★★

Bohrer Mining, Inc., is trying to evaluate a project with the following cash flows: Year Cash Flow 0 $ 39,100,000 1 63,100,000 2 12,100,000 a-1. What is the NPV for the project if the company...

Answered: 1 week ago

Question

★★★★★

Assume the date is 30 April 2023. Described below are situations which have arisen in four unrelated external audit clients of your firm. The year end in each case is 31 March 2023. Milford Ltd...

Answered: 1 week ago

Question

★★★★★

Skysong needs to calculate the company's expected cash receipts for the upcoming month to determine whether additional financing is needed. Typically, the company's sales consist of 40% cash sales...

Answered: 1 week ago

Question

★★★★★

The charter for ASAP - TV, Inc. authorizes the company to issue 100,000 shares of $5, no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, ASAP - TV...

Answered: 1 week ago

Question

★★★★★

Which of the following statements regarding the completed contract method is NOT true? a) The company makes different entries to recognize revenue than under percentage-of-completion method. b) The...

Answered: 1 week ago

Question

★★★★★

4. Mr. Buyer bought a car from Mr. Seller, a dealer of cars under the following terms: (1) down payment of P500,000; (ii) entire balance is to be paid on December 24, 2004; (iii) a chattel mortgage...

Answered: 1 week ago

Question

★★★★★

00:19:58 Question #15 of 25 Qu A client who is primarily concerned that inflation might erode the purchasing power of his annuity income would NOT be a good candidate for ik NR han Pleas such surrel...

Answered: 1 week ago

Question

★★★★★

Do not pay him, wait until I come

Answered: 1 week ago

Question

★★★★★

Do not get married, wait until I come, etc.

Answered: 1 week ago

Question

★★★★★

Do not come to the conclusion too quickly

Answered: 1 week ago

Previous Question Next Question