The future value of an investment of $700 at a nominal interest rate of 10% compounded monthly after 21 months is approximately $798 when rounded to the nearest dollar.
Explanation:In this case, we are dealing with a savings account with a nominal rate of interest of 10% compounded monthly. It's important to remember that the more frequently interest is compounded, the higher the overall return on investment. When the interest is compounded monthly, the nominal interest rate is divided by the number of compounding periods in a year (i.e., 12 months).
The formula we'll use to calculate the future value of an investment when interest is compounded monthly is as follows:
FV = P (1 + (r/n))^(nt)
Where:
FV = Future Value
P = Principal amount (initial investment)
r = annual nominal interest rate in decimal form (i.e., 10% = 0.10)
n = number of times interest is compounded per year
t = time the money is invested for in years
Since we're dealing with months rather than years, we'll adjust the formula to account for this, giving us:
FV = $700 (1 + (0.10/12))^(12*21/12) = $798 upon rounding to the nearest dollar.
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The investment will be worth $834 after 21 months, given a 10% annual interest rate compounded monthly. The calculation used the compound interest formula:
FV = P [tex](1+r/n)^{nt}[/tex] This involved substituting the principal amount, the interest rate, the number of compounding periods per year, and the time in years into the formula.
Calculating Future Value of an Investment with Monthly Compounding
To determine the future value of a $700 investment with a 10% nominal annual interest rate compounded monthly over 21 months, we use the compound interest formula:
Future Value (FV) = P[tex](1+r/n)^{nt}[/tex]
Where:
P = Principal amount ($700)
r = Annual nominal interest rate (10% or 0.10)
n = Number of times interest is compounded per year (12)
t = Time the money is invested (21 months or 21/12 years)
Substituting the values into the formula:
FV = 700 [tex](1+0.10/12)^{12*21/12}[/tex]
Simplifying inside the parentheses first:
(1 + 0.10/12) = 1 + 0.0083333 ≈ 1.0083333
Then computing the exponent:
12 * (21/12) = 21
Raising the base to the exponent:
1.0083333²¹ ≈ 1.191017
Finally, multiplying by the principal amount:
FV ≈ 700 * 1.191017 ≈ 833.71
Rounding to the nearest dollar, the investment will be worth $834 after 21 months.
________ are those that lead to new features and capabilities in existing products or to completely new products.
Final answer:
Innovations introduce new features or entirely new products, driving industry evolution through technological advances and spillover effects. The process is supported by patent laws, encouraging ongoing R&D investments.
Explanation:
Innovations are those that lead to new features and capabilities in existing products or to completely new products. This process can involve incremental changes that refine and improve current products or radical developments that introduce entirely novel items into the market. The heart of innovation often lies in the ability to recognize and respond to changes in consumer demands, technological advances, or both.
Two key aspects highlighting the impact of innovation include technological advances and spillover effects. Technological advances drive the development of new or improved products and services by providing fresh means or methods of production. Meanwhile, spillover effects refer to the beneficial outcomes of research and development initially intended for one product, but that inadvertently benefit other products or firms. This interconnectedness suggests that investments in technology and R&D can yield widespread industry benefits beyond the original intent.
Moreover, product and process innovation play crucial roles in shaping industry dynamics. They not only lead to the rise of new products but also influence competitive rivalry and the forms of competition within industries. Pertinently, such innovations are supported by patent laws, which protect inventors and encourage continuous investment in R&D by granting them exclusive rights to their creations for a certain period.
The cimarron middle school orchestra sold 8720.00 worth of candy bars in 28 days about how muck did they each make in a day
Why are desk drawers and cupboard doors kept closed unless you are taking something out or putting it away?
Keeping desk drawers and cupboard doors closed helps maintain an organized and tidy appearance, prevents accidents, protects contents from dust and potential damage, and provides security for valuable or sensitive items.
Explanation:Desk drawers and cupboard doors are typically kept closed unless someone is taking something out or putting something away for various practical and aesthetic reasons. Keeping them closed helps maintain an organized and tidy appearance within a room, ensuring that the space looks clean and is easy to navigate. From a safety perspective, it prevents accidents such as tripping over an open drawer or hitting someone with an open door. Moreover, closed drawers and doors protect against dust and potential damage to the contents inside them. It also prevents pets or small children from accessing potentially dangerous items or making a mess. Security is another aspect to consider, as closed and locked doors can keep valuable or sensitive items safe.
Compared to a Direct Unsubsidized Federal Loan, a Direct Subsidized Federal Loan provides which benefits?
Compared to Direct Unsubsidized Loans the Direct Subsidized Loans have the major advantage that the federal government is responsible to pay for the interest of Direct Subsidized Loans for the duration of a study period in college or while the loan is in postponement. While in the case of for Direct Unsubsidized Loans the interest starts as soon as the loan is issued.
A Direct Subsidized Federal Loan provides benefits compared to a Direct Unsubsidized Federal Loan including the government paying the interest, lower loan amounts based on financial need, and lower interest rates.
A Direct Subsidized Federal Loan provides several benefits compared to a Direct Unsubsidized Federal Loan:
The government pays the interest on a Direct Subsidized loan while the borrower is in school or during other eligible deferment periods.The loan is based on financial need, which means the borrower may qualify for a lower loan amount.The interest rates for Direct Subsidized loans are typically lower than those for Direct Unsubsidized loans.Learn more about Direct Subsidized Federal Loan benefits here:
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What is a "best effort" protocol well suited for streaming audio and voip?
A 6% pay increase to your current $62,900 annual salary. "thanks, i look forward to the additional __________ per month."
To calculate a 6% percentage calculation pay raise on a $62,900 salary, you multiply the salary by 0.06 to get the annual increase. When the resulting number is divided by 12, you get the monthly raise amount, which is $314.50.
Explanation:To calculate the monthly increase of a 6% pay raise on a $62,900 salary, you would first find the total annual increase and then divide by 12 for the monthly amount.
First, find what 6% of $62,900 is: 62900 x 0.06 = $3,774. This is the annual increase. To find out what this translates to on a monthly basis, divide this by 12: $3,774 ÷ 12 = $314.50.
Therefore, with a 6% pay increase, you can look forward to an additional $314.50 per month.
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A liability created when a business receives cash from customers in advance of providing services or delivering goods is called a(n) ________.'
If a particular part of the body receives frequent stimulation, the corresponding part of the somatosensory map will _________ at the expense of adjacent cortical areas, which compensate by ________.
What type of tax is this? a disposal fee for old tires that is paid when new tires are purchased?
If you receive a free ticket to a concert, what, if anything, is your opportunity cost of attending the concert?
a. the pleasure yielded by the concert cancels any costs. thus, there is no cost of any type.
b. since the ticket was a gift, there is no opportunity cost.
c. the next best activity that can't be done while attending the concert.
d. the concept of opportunity cost does not apply to intangibles like concerts.
When flying over arrowwood national wildlife refuge, a pilot should fly no lower than?
Final answer:
The deceleration experienced by World War II airmen who fell without parachutes and were stopped by trees and snow over a distance of 3.0 m is calculated to be approximately [tex]486 m/s^2[/tex].
Explanation:
The deceleration experienced by World War II airmen when they impacted the ground after falling without a parachute. Deceleration can be determined using the formula a = Δv / Δt, where Δv is the change in velocity and Δt is the time taken to stop. However, since we do not have the time (Δt), we can use another approach with the formula [tex]v^2 = u^2 + 2as[/tex], where v is the final velocity (0 m/s at the point of stopping), u is the initial velocity (54 m/s), a is the acceleration (deceleration in this context), and s is the distance over which the deceleration occurs (3.0 m).
To find the deceleration (a), we rearrange the equation to [tex]a = (v^2 - u^2) / (2s)[/tex]. Plugging in the values, we have [tex]a = (0^2 - 54^2) / (2*3) = -486 m/s^2[/tex]. The negative sign indicates deceleration. Thus, the airmen would have experienced a deceleration of approximately [tex]486 m/s^2[/tex].
Rebecca, a department manager, has been dealing with two workers in her department who do not get along. due to family problems for both employees, today they had a loud argument in the break room. rebecca is meeting with both to resolve the issues as part of which managerial role?
donna is in the _____ stage of change when she is able to reflect back over the last four years and realize how far she has come in creating a healthy new lifestyle for herself.
"when devising a classification scheme for systems components", is it more importantthat the asset identification list be comprehensive or mutually exclusive?
Name some advantages and disadvantages of the graphing method and the algebraic method when determining solutions for linear functions
How does columbus describe the role and rights of women in native american cultures?
Select examples of unpaid work that are not included in the real GDP per capita.
a) working in a clothing store
b) taking care of your parents
c) washing dishes
d) doing laundry
Answer:
The answers are B taking care of your parents,C washing dishes,D doing laundry
Explanation:
this is because these jobs are something someone is doing and usually not documenting into things like when they do their income taxes or in other words completely undocumenting.
The examples of unpaid work that are not included in the real GDP per capita are taking care of the parents, washing dishes, and doing laundry.
What is real GDP Per Capita?Real GDP per capita is defined as a mensuration of the entire or the aggregate economic turnout of a country and that is divided by the number of citizens and adjusted for inflation.
It's used to compare the standard of living between countries and over time. This is due to the fact that washing dishes and taking care of your parent jobs are typically performed without documentation, such as when filing taxes, or in other words, fully undocumented.
Therefore, options B, C, and D are correct.
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Under what conditions is the production possibilities frontier linear rather than bowed out
A production possibilities frontier (PPF) can be straight under conditions where opportunity costs are constant, meaning reallocating resources from one good to another results in a consistent trade-off, which is generally a simplification for illustrative purposes.
Explanation:The question asks under what conditions the production possibilities frontier (PPF) is linear rather than bowed out, which falls under the subject of economics. Typically, the PPF is depicted as a curve to illustrate increasing opportunity costs when reallocating resources from the production of one good to another, such as shifting resources from education to health services. However, a PPF can be a straight line if opportunity costs are constant, meaning the loss in output from reducing the production of one good and increasing the production of another remains the same regardless of the amount produced. This scenario assumes the additional workers' contribution to output does not change with the scale of production. A linear PPF is simpler for calculations and can effectively illustrate economic principles like absolute and comparative advantage, despite being less realistic.
Which statements of tacitus might you regard as reliable and which are more suspect why?
Aggregate supply is best described as the
total output of product.
point of equilibrium.
nation’s gross domestic product.
excess supply in the market.
"what is the biggest potential problem with selecting a topic at random?"
What are the major determinants of output and employment in the classical system? what role does aggregate demand have in determining output and employment?
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What are the three different campaign tags that google analytics requires for accurate campaign tracking?
The three different campaign tags in which is needed or required by Google Analytics in having a more accurate and precise campaign tracking are the following, the medium, the source and lastly, the campaign. These three are needed in order to provide a more accurate campaign tracking.
The three campaign tags necessary for G-oogle Analytics campaign tracking are utm_source, utm_medium, and utm_campaign. They're used to identify traffic sources, the medium used for the link, and specific product or strategic campaigns respectively.
The three different campaign tags that Go-ogle Analytics requires for accurate campaign tracking are: utm_source, utm_medium, and utm_campaign.
utm_source is used to identify the source of your traffic, like a search engine, newsletter, or another referral.
For instance, if you're receiving traffic from a Goo-gle search, your utm_source might be 'Go-ogle'.
utm_medium is used to identify the medium the link was used upon such as: email, CPC, or other methods of sharing.
utm_campaign is used to identify a specific product promotion or strategic campaign, for example 'spring_sale' or 'new_product_launch'.
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Functional goals and strategies should be independent of divisional and corporate goals an strategies
a. True
b. False
Identity and explain the type of adjustment raised in each transaction entered into by ABC Ltd. show how each adjustment will be reflected in the general journal for ABC Ltd for the year ended 31 December 2016
The doctrine of egalitarianism,which is professed by socialist economies is refer to by what?
Personnel forecasting is a functional area information system contained within the ________ department of an organization.
The inuit have dozens of words for what we typically call snow. this is an example of ____________.
This is an example of linguistic relativism, or sometimes also called “Sapir–Whorf hypothesis", for the reason that the theory was developed by Edward Sapir and Benjamin Lee Whorf. It states the language any particular people speak cast an influence on the people’s process of knowing something. Inuit experience a lot of snow in their environment ultimately leading to the creation of many words for snow.
The service industry represents ________ of the value of the u.s. economy.
If it is given in value of percentage, it has been found out by researchers that the service industry that has shown a representation of the value of the United States economy is about seventy percent of which is considered to be of high value.
The service industry represents seventy percent of the value of the U.S. economy.
Further Explanation:
Service industry:
The service industry refers to the type of industry which does not involve in the manufacturing process. It only involves in the process of transportation, distribution, transferring the one product into another, and packaging. This type of industry rarely involved in manufacturing, it does so in case of high demand. Services also include information technology services, tour, and travel services, housekeeping services and creches services.
The U.S. Economy:
U.S. economy is an economy that exists in the united states of America. Economy means the total production of the goods in a particular year, it shows the growth of the country and also shows the national income of the country.
The major part of the U.S. economy represents the service industry. Almost seventy percent part of the total economy represents the service industry. The manufacturing industry is less in u.s. economy. The national incomes represent the service industry instead of the manufacturing industry. Like in India, the national income represents more the manufacturing industry rather than the service industry.
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Answer details:
Grade: Middle School
Subject: Economics
Chapter: U.S. Economy
Keywords: service industry, represents, seventy percent, value, of the U.S. economy, manufacturing process, information technology services, tour, and travel services, housekeeping services and creches services.