« previous next »

Author Question: Jenna deposits 1,000 in a bank at an interest rate of 6 compounded annually. What is the future ... (Read 361 times)

mspears3

  • Hero Member
  • *****
  • Posts: 586
on: Jun 29, 2018
Jenna deposits 1,000 in a bank at an interest rate of 6 compounded annually. What is the future value of the sum deposited after: a) two years. b) four years.
 
  What will be an ideal response?

Question 2

The price chosen by a monopolist:
 
  A) maximizes social surplus.
  B) maximizes consumer surplus.
  C) is dependent on the production of other firms.
  D) is independent of the production of other firms.


mrphibs

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jun 29, 2018
Answer to Question 1

a) The future value after two years = (1.06 )2  1,000 = 1,123.60.
b) The future value after four years = (1.06 )4  1,000 = 1,262.48.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Feedforward control of breathing rate in an animal trained for athletic exercise. Feedforward control of breathing rate in an animal trained for athletic exercise.
Tree species richness in North America is correlated with evapotranspiration rate. Tree species richness in North America is correlated with evapotranspiration rate.
Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif
Acceptable ranges of respiratory rate Acceptable ranges of respiratory rate
Determine m​, ​n, and i for money invested at 3.6​% compounded semi-annually for 3.5 ... Determine m​, ​n, and i for money invested at 3.6​% compounded semi-annually for 3.5 ...
Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ... Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ...
Video: Functional zones in a mitochondrion

For a complete list of videos, visit our video library