nakedkats7656
10.11.2020 •
Business
Scott is saving for a down payment to buy a house. The account earns 7.7% interest compounded semi-annually, and he wants to have $10,000 in 5 years. What must his principal be
Solved
Show answers
More tips
- S Style and Beauty How to Sew a Balloon Skirt: Detailed Tutorial and Tips on Choosing the Right Fabric...
- P Philosophy Agnosticism: Opinion or Belief?...
- S Style and Beauty How to choose the best mascara for your eyelashes...
- F Food and Cooking Discover Delicious Recipes You Can Make with Ground Meat...
- C Computers and Internet Google Search Tips and Tricks: Everything You Need to Know...
- S Science and Technology Why is there no gravity on other planets?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
Answers on questions: Business
- C Chemistry During a redox reaction, the term reduction refers to the gain of electrons. the loss of electrons. the gain of protons. the loss of protons....
- E English Kumpletuhin ang pangungusap; Bilang isang mag-aaral,natutuhan ko na mahalagang nakapagpapahayag ng damdamin sa iba t-ibang paraan upang at mahalaga ring naiuugnay ito sa kaganapan...
- H History Why did massachusetts believe that the state government should have more power than the federal government...
- M Mathematics Solve the proportion 5/y-2=15/2...
Ответ:
$6,853.86 ≈ $6,854
Explanation:
we need to determine the present value of Scott's account:
present value = future value / (1 + i)ⁿ
future value = $10,000i = 3.85%n = 5 x 2 = 10 periodspresent value = $10,000 / (1 + 0.0385)¹⁰ = $10,000 / 1.459 = $6,853.86
the present value formula allows us to calculate how much a future cash flow is in today's dollars
Ответ: