Business, 20.09.2020 15:01 runninglovexoxo

Suppose an individual wants to have exactly $300,000 available for her child's education. (a) Find the amount that would have to be invested at 13% compounded continuously, if the number of years until college is 8 years. (Round your answer to the nearest cent.)
(b) Find the amount that would have to be invested at 13% compounded continuously, if the number of years until college is 16 years. (Round your answer to the nearest cent.)
(c) Does leaving the money invested twice as long mean that half as much is needed initially? Explain.
Yes, at the given rate and amounts of time, investing half the amount for twice as long will result in an amount equal to the stated goal.
No, at the given rate and amounts of time, investing half the amount for twice as long will result in an amount greater than the stated goal.
No, at the given rate and amounts of time, investing half the amount for twice as long will result in an amount less than the stated goal.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 07:30, yzafer3971

An instance where sellers should work to keep relationships with customers is when they instance where selllars should work to keep relationships with customers is when they feel that the product

Answers: 1

continue

Business, 22.06.2019 11:00, samwamooo

Specialization—the division of labor—enhances productivity and efficiency by a) allowing workers to take advantage of existing differences in their abilities and skills. b) avoiding the time loss involved in shifting from one production task to another. c) allowing workers to develop skills by working on one, or a limited number, of tasks. d)all of the means identified in the other answers.

Answers: 2

continue

Business, 22.06.2019 12:40, gldven7636

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

Answers: 3

continue

Business, 22.06.2019 19:30, brianna218208

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31

Answers: 2

continue

You know the right answer?

Suppose an individual wants to have exactly $300,000 available for her child's education. (a) Find...