Unfortunately, Yasmin doesn't have enough money in her account right now. She needs to make additional contributions at the end of each of the next four years to be able to pay for the repairs. Her account currently has $4,000, which, along with her additional contributions, is expected to continue earning 7% annual interest. If she makes equal contributions each year, how large must each contribution be for Yasmin to have $9,000 after four years? A. $1,085 B. $487 C. $1,203 D. $846 E. $417
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Unfortunately, Yasmin doesn't have enough money in her account right now. She needs to make additional contributions at the end of each of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Initiating structure describes the following leadership behavior: A. A leader who is task-oriented and directs subordinates' work B. A leader who is sensitive to subordinates and respects their ideas, and feelings C.
Answers (1)
What are the ethical issues at stake when companies permit employees to use personal technology on the job? what are tge implications?
Answers (1)
Closing mines has no economic impact on communities. true or false
Answers (1)
Gaba Corporation uses the FIFO method in its process costing system. The Grinding Department started the month with 17,400 units in its beginning work in process inventory that were 60% complete with respect to conversion costs.
Answers (1)
Mandovia is a developing country which has access to limited resources. the total national expenditure of mandovia amounts to $200 billion annually. however, the country only generates $150 billion from taxes annually.
Answers (1)
New Questions in Business
Taylor Bank lends Guarantee Company $92,811 on January 1. Guarantee Company signs a $92,811, 12%, nine-month note. The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is
Answers (1)
Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the
Answers (2)
It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false
Answers (1)
Which of the following actions differentiates an entrepreneur from other small business owners?
Answers (1)
Mccoo Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $1.50 per direct labor-hour.
Answers (1)