chegg bobby needs $90000, or 2 times this amount to make a deposit on his dream house. assuming that all of the account is invested to earn an interest rate of 6.00%, how long, in years, will it take bobby to accumulate the amount he needs for his down payment?
Answers
It will take Bobby approximately 9.03 years to accumulate the amount he needs for his down payment.
To calculate the time it will take Bobby to accumulate the amount he needs, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the amount accumulated after time t
P = the initial amount (principal)
r = the interest rate (in decimal form)
n = the number of times interest is compounded per year
t = the time in years
In this case, Bobby needs $90,000, or 2 times this amount, which is $180,000. The principal (P) is $90,000 and the interest rate (r) is 6.00% or 0.06. The interest is compounded annually, so n = 1. We need to solve for t.
180,000 = 90,000(1 + 0.06/1)^(1t)
Divide both sides by 90,000:
2 = (1.06)^t
Take the natural logarithm of both sides:
ln(2) = t * ln(1.06)
Divide both sides by ln(1.06):
t ≈ ln(2) / ln(1.06)
Using a calculator, we find that t ≈ 9.03 years. Therefore, it will take Bobby approximately 9.03 years to accumulate the amount he needs for his down payment.
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Related Questions
pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 5.5%. The probability distributions of the risky funds are: Expected Return Standard Deviation Stock fund (S) 15 % 32 % Bond fund (B) 9 % 23 % The correlation between the fund returns is 0.15. Suppose now that your portfolio must yield an expected return of 12% and be efficient, that is, on the best feasible CAL. a. What is the standard deviation of your portfolio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answers
The standard deviation of the portfolio is 7.09%.
What is the proportion of stock in minimum risky portfolio?= [(0.23)² - (0.32*0.23*0.15)] / [(0.32)² + (0.23)² - (2*0.32*0.23*0.15)]
= 0.31421708452
= 31.42%
What is proportion of bond fund in minimum risky portfolio?= 1 - 0.31421708452
= 0.68578291548
= 68.58%
What is the expected return of minimum risky portfolio?= 0.3142*15% + 0.6858*9%
= 0.04713 + 0.061722
= 0.108852
What is the standard deviation of your portfolio?= ((0.6858)² * (0.23)² * (0.3142)² * (0.33)²) + ((2 * 0.6858 * 0.3142 * 0.32 * 0.23 * 0.15))^0.5
= (0.00026747972 + 0.00475776218)^0.5
= 0.0050252419^0.5
= 0.0708889406
= 7.09%
Therefore, the standard deviation of the portfolio is 7.09%.
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When a customer needs any product to buy, a customer goes to the website and chooses the product they want to buy. After the selection of the product, a customer will select the mode of payment, whether it is online or offline and after that product will checkout and ordered. The ordered products information has been exchanged with customer and delivery logistics. This process is being done in just a matter of minutes only. For e-commerce enablement, getting an internet merchant bank account, web hosting, obtaining the digital certificate provider for online transactions, purchasing, or creating the shopping cart software
Answers
The process of purchasing products through an e-commerce website involves several important steps. The customer will select the desired product and then proceed to choose the mode of payment, which can be online or offline.
Once the payment is made, the product is checked out and ordered. This process typically takes just a matter of minutes.For an e-commerce website to be enabled, certain key components are required.
These include getting an internet merchant bank account, web hosting, and obtaining a digital certificate provider for online transactions.
In addition, purchasing or creating a shopping cart software is necessary to facilitate the checkout process and manage the products.
Overall, the process of e-commerce enablement can be complex, but it is essential for businesses that want to sell their products online.
By investing in the necessary components and tools, businesses can streamline the purchasing process for customers and increase their online sales.
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is it cool when you have friends at school
Answers
Answer:
Well yes I would suppose…unless you’re the loner type. I don’t have any friends so I wouldn’t really know—
._.
Answer:
yes, i guess you could say that its cool to have friends at school. but it is important to make sure that they dont get in the way of schoolwork or influence you to do anything bad
Explanation:
A home improvement store has an assembled kids playset on display. There
are no signs waming parents not to let their kids play on it. When a child
climbs on the playset, it collapses and the child breaks her wrist. The playset
was not assembled properly for use because it was only for display. Is the
home improvement store negligent?
A. Yes. The store has a duty of care to provide a safe environment
and not assembling the playset correctly or putting up warning
signs is a breach of duty. The breach caused the playset to
collapse and resulted in harm to the child.
O B. Yes. Home improvement stores are held to a higher standard of
care than other stores because they sell some dangerous items.
Even though a reasonable person wouldn't climb the playset, the
store is still negligent.
O C. No. Home improvement stores do not have a duty to ensure the
safety of their customers because they sell some dangerous
items. Without duty to the customer, the store cannot be negligent.
OD. No. The store is not in violation of a breach of duty because
customers should know never to climb on or use anything on
display in a store. Without breach of duty, the store is not
negligent
Answers
Answer:
a. yes. the store has a duty of care to provide a safe environment and not assembling the playset correctly or putting up a sign is a breach of duty. and it resulted in harm.
Explanation:
a p e x
what is a positive indicator that agile may be appropriate to an organization as a new project methodology?
Answers
A positive indicator that agile may be appropriate to an organization as a new project methodology that the adopting organization values trust, collective ownership, and adaptability.
What is the project methodology?
A project management methodology can be defined as the set of principles, techniques, and procedures used by those who work in a discipline. These are usually structurally organised, along with workflows and software development. It should include proper research methodology, awareness, facts and analysed data. Designing framework, qualitative research coupled with raw and clear facts are important for methodology.
There are usually three methods waterfall, agile, and scrum.
Hence , A positive indicator that agile may be appropriate to an organization as a new project methodology that the adopting organization values trust, collective ownership, and adaptability.
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Recall the required information in a financial statement heading. rearrange the following line items as they would appear in a heading.
Name of financial statement
Name of business
Period of time the financial statement covers
Answers
The required information for a financial statement heading is, in order: Name of business, Name of financial statement, and Period of time the financial statement covers.
The Name of the business is essential to know in order to identify which business is being discussed in the financial statement.
This is followed by the Name of the financial statement, which is needed to provide more context as to what type of financial statement is being discussed.
Finally, the Period of time the financial statement covers is important in order to understand which time period is being discussed in the financial statement.
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John has $10,000 in debt with discover, $4,000 in debt with chase, $9,000 in debt with citi bank, and $3,000 in debt with wells fargo, giving him a total debt of $26,000. what percentage of john's total debt is with discover
Answers
The percentage of John's debts with discover is \(38.46%\), by using percentage calculation.
Given,
John's total debt:
$10,000 with discover$4,000 with chase $9,000 with Citi bank$3,000 with wells FargoTotal debt of John is $26,000, to calculate his Percentage of debt with discover, we need to add all the debts and then calculate how much percentage is 10,000 of 26000.
Calculation is as follows:
\(10000/26000*100=38.46\)
Hence, The percentage of John's debts with discover is \(38.46%\)\(%\), by using percentage calculation.
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To perform a typical backtesting of a quantitative signal in the Russell 3000 stock Universe over the last 20 years ones does not need to have data from stocks that are not currently part of the Russell 3000 index.
A. True
B. False
Answers
B. False. To perform a typical backtesting of a quantitative signal in the Russell 3000 stock universe over the last 20 years, it is necessary to have data from stocks that are not currently part of the Russell 3000 index.
The Russell 3000 index is dynamic, as it is updated annually to reflect changes in market capitalization, new stock listings, and delistings. As a result, the composition of the index changes over time, and to properly backtest a strategy over a 20-year period, you need to account for these changes in the stock universe.
Ignoring stocks that were once part of the index but are no longer included could lead to biased results, as it may overlook potential investment opportunities or risks that were present in the past. Moreover, it is essential to use survivorship bias-free data to ensure the backtesting results accurately represent the performance of the quantitative signal.
In conclusion, to perform a robust backtesting of a quantitative signal in the Russell 3000 stock universe over the last 20 years, it is crucial to include data from stocks that are not currently part of the index to accurately account for historical changes and avoid biases in the results.
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Timor rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20. His fixed costs are $100,000 and his target profit is $20,000. For Timor, to earn his target profit, he will need to rent out ________ rooms.
Answers
For Timor, to earn his target profit, he will need to rent out 1,200 rooms.
Profit = (Revenue - Variable Costs) - Fixed Costs
Where revenue is the total amount earned from renting out rooms, variable costs are the costs directly associated with renting out rooms (such as cleaning and maintenance), and fixed costs are the costs that Timor incurs regardless of how many rooms he rents out (such as rent, utilities, and salaries).
Using the information given in the question, we can plug in the values:
$20,000 = (Revenue - $20 per room) - $100,000
$20,000 + $100,000 = Revenue - $20 per room
$120,000 = Revenue - $20 per room
$100 per room = Revenue / Number of rooms
Number of rooms = Revenue / $100 per room
Number of rooms = $120,000 / $100 per room
Number of rooms = 1,200
Therefore, Timor needs to rent out 1,200 rooms to earn his target profit of $20,000.
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The price, which may be in the form of money, a promise, or a performed act, is known as a(n)?
Answers
The price, which may be in the form of money, a promise, or a performed act, is known as a consideration.
What is consideration?Consideration is the exchange of a promise for anything of value, usually in the form of commodities, cash, or an act, from the promisor to the promisee.Consideration is defined as giving someone or something careful thought, attention, or a sympathetic regard.A person choosing between two supper alternatives is an illustration of deliberation.Another illustration of consideration is when a friend of yours who recently had a baby is invited to dinner.The term "consideration" refers to anything of value that is promised by one party to the other when entering into a contract. For instance, if A forms a contract with B to purchase a car from B for $5,000, A's consideration is the $5,000, and B's consideration is the car.
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what will happen to trade if business is flourishing?
Answers
Answer:
if the business is florishing, as an example Medical sectors during pandemic they are going to grow till they are in a high demand
Which of the following best describes the purpose of an Egyptian pyramid?
A. the pharaoh's home
B. a monument to honor the gods
C. the pharaoh's burial chamber
D. a storage place for the pharaoh's treasures
Answers
Answer:
C. The pharaoh's burial chamber
Explanation:
The purpose of the Pyramids where for when the Pharaoh were to die they would be wrapped and put in a coffin and placed in the BURIAL CHAMBER will lots of treasures for the afterlife.
Real GDP, unemployment, and ____ are the main statistics used by economists to assess the health of the economy.
Answers
Real GDP, unemployment, and inflation are the main statistics used by economists to assess the health of the economy.
What are the three measures of a healthy economy?
Once upon a time, the inflation rate, unemployment rate, and growth rate of the gross domestic product were the three main indicators of economic health that could be used to determine the state of the economy.
Why does inflation occur?
The rate of price growth over an extended period of time is known as inflation. The cost of living in a nation has increased, or prices have generally increased.
These are examples of broad measures of inflation. As household incomes improve as a result of more jobs and higher earnings and an increase in consumer spending, the potential for price increases by businesses to raise the cost of their goods and services increases.
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What type of account is sales returns and allowances?.
Answers
Answer:
contra revenue account
4. Many opponents of free trade use the following example to illustrate its negative effects:
Joe Smith started the day early having set his alarm clock (MADE IN JAPAN) for 6 AM. While his coffee pot (MADE IN CHINA) was perking, he shaved with his electric razor (MADE IN HONG KONG). He put on a dress shirt (MADE IN SRI LANKA), designer jeans (MADE IN SINGAPORE), and tennis shoes (MADE IN KOREA). After cooking his breakfast in his new electric skillet (MADE IN INDIA) he sat down with his calculator (MADE IN MEXICO) to see how much he could spend today. After setting his watch (MADE IN TAIWAN) to the radio (MADE IN INDIA) he got in his car (MADE IN GERMANY) filled it with gas from SAUDI ARABIA and continued his search for a good paying AMERICAN JOB. At the end of yet another discouraging and fruitless day, he checked email on his computer (MADE IN MALAYSIA) then decided to relax for a while. He put on his sandals (MADE IN BRAZIL) poured himself a glass of wine (MADE IN FRANCE) and turned on his TV (MADE IN INDONESIA), and then wondered WHY he can’t find a good-paying job in America.
Should America encourage free trade with its trading partners or seek a more protectionist approach? Take a stand on this issue. It is not enough to argue BOTH sides of the issue. Support your opinion with good economic reasoning. Who benefits from your approach and who loses? Why? Include impacts on both American citizens and the citizens of the other countries with whom we (U.S.) trade.
Answers
America must note that Free trade affords countries the opportunity to specialize in the production of goods and services that they are most efficient at producing, leading to lower prices and increased access to a variety of goods and services for consumers.
Protectionism, on the other hand, can lead to higher prices and reduced access to goods and services for consumers.
What is the rationale behind the above answer?Note that protectionism can only work under certain factors. China explored this briefly to build capacity then later opened its borders albeit strategically.
Economic protectionism is a policy that limits or controls international trade in order to protect domestic industries. One danger of protectionism is that it can lead to higher prices for consumers.
This is because protectionist measures, such as tariffs, can make imported goods more expensive, which may be passed on to consumers in the form of higher prices.
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Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $15,000,000 of 20-year, 9% callable bonds on May 1, 20Y1, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.
Answers
Answer and Explanation:
The Journal entry is shown below:-
1. Cash Dr, $15,000,000
To Bonds payable $15,000,000
(Being issue of bonds is recorded)
2. Interest expense on bonds Dr, $675,000
To cash $675,000 ($15,000,000 × 9% × 6 ÷ 12)
(Being payment of interest is recorded)
3. Bonds payable Dr, $15,000,000
To Gain on redemption of bonds $600,000
To Cash ($15,000,000 × 0.96) $14,400,000
(Being redemption on bonds is recorded)
Johnston, Inc., engaged in the following transactions involving treasury stock.
Feb. 10 Purchased for cash 17,000 shares of treasury stock at a price of $31 per share.
June 4 Reissued 6,000 shares of treasury stock at a price of $34 per share.
Dec. 22 Reissued 4,000 shares of treasury stock at a price of $22 per share.
a. Prepare general journal entries to record these transactions.
Answers
Answer and Explanation:
The journal entries are shown below
On Feb 10
Treasury stock Dr (17,000 shares × $31) $527,000
To cash $527,000
(Being the treasury stock purchased for cash is recorded)
On June 4
Cash (6,000 shares × $34) $204,000
To Treasury stock (6,000 shares × $31) $186,000
To Additional paid in capital - Treasury stock (6,000 shares × $3) $18,000
(being the reissuance of the treasury stock is recorded)
On Dec 22
Cash (4,000 shares × $22) $88,000
Additional paid in capital - Treasury stock (4,000 shares × $9) $36,000
To Treasury stock (4,000 shares × $31) $124,000
(being the reissuance of the treasury stock is recorded)
Atkins, Inc. produces a product requiring 8 pounds of material at $1.50 per pound. Atkins produced 10,000 units of this product during 2016 resulting in a $30,000 unfavorable materials quantity variance. How many pounds of direct material did Atkins use during 2016? A) 100,000 pounds B)80,000 pounds C)160,000 pounds D)125,000 pounds
Answers
the pounds of direct material used during 2016, we can use the materials quantity variance formula
To determine the pounds of direct material used during 2016, we need to calculate the materials quantity variance using the given information. Materials Quantity Variance = (Actual Quantity - Standard Quantity) x Standard Price Given: Materials Quantity Variance = $30,000 (unfavorable)Standard Price = $1.50 per pound Let's assume the actual quantity of material used is represented by "X" pounds. $30,000 = (X - (10,000 * 8)) * $1.50
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The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
Answers
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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Think of a futuristic business. Then identify the level and type of production that it would undertake. W/ all relevant information.
Give a description of the business.
Answers
The futuristic business would be a robot selling business, the business would produce robots that will help the individuals in their household work.
What is Business?A business is an idea of trade, the individual starts a business to earn profits by investing capital. The business have major four heads, capital, assets, liabilities and income.
The futuristic business idea would be the production of robots which will be produced by robots itself that is machines in a factory, however the robots will be customized as per the customer requirements and the actions required will be embedded in the robot system.
The robots will help the individuals in their household work, it will cook, clean the house, take out trash and more. The robots will be made at a large scale and the customization will be required on the system only.
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asset w has an expected return of 15.7 percent and a beta of 1.75. if the risk-free rate is 3.3 percent, what is the market risk premium?
Answers
The market risk premium is 14.12. A market risk premium in finance and economic is used to measure how much the level of risk.
A risk premium means a measure of excess return that is used by an individual to compensate being subjected to an improved degree of risk. A risk premium is the common definition being the expected risky return less the risk-free return.
To find the amount of risk premium, we can calculate it use beta of the stock formula:
Beta of the stock = (expected return - risk-free rate) ÷ risk premium
Because we need the amount of risk premium, then it will be:
Risk premium = Beta of the stock/(expected return - risk-free rate)
Risk premium = 1.75/(15.7% - 3.3 percent)
Risk premium = 1.75/(0.157 - 0.033)
Risk premium = 1.75/0.124
Risk premium = 14.12
Thus, the market risk premium is 14.12.
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What is one way people can reduce the amount of taxes they owe in a year?
A. Give money to charity
B. Earn a higher income
C. Purchase luxury goods
D. Work longer hours
Answers
Answer:
A
Explanation:
Donating money to charity is one method people might lower their annual tax burden. Therefore, (A) is the correct option.
What is Tax?Taxes are required payments made to individuals or enterprises by a government agency, whether local, regional, or federal. Income, capital gains, or the estate are all subject to taxes.
One of the ways to reduce the amount of tax payable is to donate money to a charity.
Therefore, (A) is the correct option.
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Which of the following would be considered a
job in Law Enforcement?
A. a detective
B. a corporate lawyer
C. a pathologist
Answers
(because it has the word law in it)
Question 2(Multiple Choice Worth 5 points)
(02.06 MC)
In general, what kind of people earn the most money?
O People with skills that are in high demand and high in supply
O People with skills that are in high demand but low in supply
O People with skills that are in low demand and low in supply
People with skills that are in low demand but high in supply
Answers
They earn the most money since skills also follow the law of supply and demand, so consumers are willing to pay more due to low supply
A firm has four different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the end of two years, and $10 million at the end of three years. Option B will give the firm $5 million at the end of one year, $10 million at the end of two years, and $15 million at the end of three years. Option C will give the firm $15 million at the end of one year, $10 million at the end of two years, and $5 million at the end of three years. Option D will give the firm $21 million at the end of one year, nothing at the end of two years, and $9 million at the end of three years. Which of these options has the highest present value if the rate of interest is 5 percent
Answers
Answer:
The answer is "Option D".
Explanation:
Using the formula for calculating present value:
\(= \frac{Future \ value}{(1+r)^n}\\\\\)
that's why "Option D" is correct.
One benefit of a savings account is that you can earn interest on your deposits
O True
O False
Answers
Answer:
O True
Explanation:
A savings account offers a safe and secure platform for firms and households to save money. Savings accounts are offered by financial institutions such as banks and credit unions. When customers open savings accounts, they save by depositing money in their savings accounts.
Banks and credit unions require customer deposits to create loans for other customers. They encourage customers to save by offering interest on savings or deposits. It is true that banks pay interest on customer savings.
Imagine you buy five burgers, two books, and a pair of jeans each period. In period 1,
burgers are $5, books are $12, and jeans are $30. In period 2, burgers are $6, books are
$14, and jeans are $28. What is the CPI based on your consumption?
Answers
Answer:
To find the answer, we use the Consumer Price Index (CPI) formula:
CPI = ( Cost of Market Basket in a Given Year / Cost of Market Basket in Base Year ) * 100
In this case, we will assume that the base year is period 1, and the given year is obviously period two.
Now, we simply plug the amounts into the formula:
CPI = ( 6 + 14 + 28 / 5 + 12 + 30 ) * 100
CPI = ( 48 / 47 ) * 100
CPI = 102.13
In other words, the inflation rate for this CPI was 2.13%
What is the primary reason for us government bond yields.
Answers
Answer: Government bonds form a large proportion of investor holdings, and corporate bonds are often priced relative to corporate bonds.
Explanation:
A drop in which of the following measures would typically send a government bond price down? U.S. government bonds offer higher returns than corporate bonds, so investors find government bonds a more attractive investment. All governments mandate interest rates as part of their economic policy. Non-government borrowers are slightly less safe and therefore must offer slightly lower yields.
Who owns the factors of production?
Answers
Answer: factors of production, such as land and capital, is owned by workers.
hope this helped ;)
how much of the actual trucking department cost should not be charged to the plants at the end of the year for performance evaluation purposes?.
Answers
The actual cost incurred by a service department that is not assigned to other departments for performance evaluation.
what is evaluation?
Evaluation is the methodical determination of a subject's validity, worth, and relevance using standards-based criteria.It can help an organization, program, design, project, or any other intervention or initiative evaluate any goal, realizable concept or proposal, or any alternative, to aid in decision-making; or to determine the level of achievement or value in relation to the goal and objectives, as well as the outcomes of any such action that has been taken.In addition to providing insight into past or current projects, evaluation's main goal is to promote introspection and help identify potential areas for future improvement.Evaluation is the methodical interpretation and ascription of significance to the anticipated or actual effects of proposals or outcomes.To learn more about evaluation refer to:
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