Michael perez deposited a total of $2000 with two savings institutions. one pays interest at a rate of 6%/year, whereas the other pays interest at a rate of 7%/year. if michael earned a total of $136 in interest during a single year, how much did he deposit in each institution? (let x and y denote the amount of money, in dollars, invested at 6% and 7%, respectively.)
Answer:
He invested $400 in the account with interest at 6%, while investing $1600 in the account with interest at 7%.
Explanation:
Given that Michael Perez deposited $ 2000 in two different accounts that granted an interest of 6% and 7% per year respectively, and that at the end of the year he obtained $ 136 in interest, to determine how much money he invested in each account it is necessary to perform the following calculation:
2000 = 100
136 = X
((136 x 100) / 2000) = X
13600/2000 = X
6.8 = X
Thus, the benefits obtained were 6.8% per year. Thus, the annual 7% of the account with the highest interest rate must subtract a 0.2% yield, with which Michael Perez invested 2/10 parts of his money in the account with interest at 6% and 8/10 in the account with interest at 7%.
Thus, in the account with interest at 6% he invested $ 400, while in the account with interest at 7% he invested $ 1600.
People are living paycheck to paycheck why is that a problem
Imagine you know someone starting off in his or her first career. Based on what you learned in the module, what financial advice would you give this person and what challenges might he or she face?
Answer:
The most important and basic financial advice we can give to a person starting his career is to only spend as much as the person earns.
Explanation:
Because starting salaries tend to be lower than average, it is not very likely that this person will be able to save, but keeping a balanced personal budget will be very helpful anyway.
A second advice is to avoid debt on consumer goods, and only use debt for long-term investments like a house or a graduate degree. Credit card debt should be specially avoided because of the very high interest rates.
Finally, a third advice is that once this person earns enough to save, to look for safe financial instruments to put his or her money, like a mutual fund or a money market fund.
TexMex Food Company is considering a new salsa whose data are shown below. The equipment to be used would be depreciated by the straight-line method over its 3-year life and would have a zero salvage value, and no change in net operating working capital would be required. Revenues and other operating costs are expected to be constant over the project's 3-year life. However, this project would compete with other TexMex products and would reduce their pre-tax annual cash flows. What is the project's NPV? (Hint: Cash flows are constant in Years 1-3.)WACC 10.0%Pre-tax cash flow reduction for other products (cannibalization) -$5,000Investment cost (depreciable basis) $80,000Straight-line depreciation rate 33.333%Annual sales revenues $67,500Annual operating costs (excl. depreciation) -$25,000Tax rate 35.0%a. $3,636b. $3,828c. $4,019d. $4,220e. $4,431
Answer:
b. $3,828
Explanation:
initial outlay = $80,000
net cash flows years 1 - 3 = [(revenue - operating expense - depreciation - cannibalization) x (1 - tax rate)] + depreciation = [($67,500 - $25,000 - $26,666.67 - $5,000) x 0.65] + $26,666.67 = $33,708.33
NPV = -$80,000 + $33,708.33/1.1 + $33,708.33/1.1² + $33,708.33/1.1³ = -$80,000 + $30,643.94 + $27,858.12 + $25,325.57 = $3,827.63 ≈ $3,828
Based on the information given, the project's NPV will be $3,828.
The net present value is simply used in the estimation of the current value of the future cash flows that are generated by a project.
Based on the information given, the net cash flows from the first to the third year will be:
= [($67,500 - $25,000 - $26,666.67 - $5,000) x 0.65] + $26,666.67
= $33,708.33
Therefore, the NPV will be:
= -$80,000 + $33,708.33/1.1 + $33,708.33/1.1² + $33,708.33/1.1³
= -$80,000 + $30,643.94 + $27,858.12 + $25,325.57
= $3,827.63 ≈ $3,828
Therefore, the NPV is $3,828.
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Choose the four diversity in the workplace issues from the list below. Remember to choose four!
Ethnic groups
Role of women
Older workers
Physically challenged
Increase advertising
Raise the profit margin
Answer:
Ethnic groups
Physically challenged
Role of women
Older workers
Explanation:
Diversity in the workplace refers to the employers' deliberate efforts to employ individuals with varying traits. A workplace that embraces diversity will have employees of different religions, races, gender, sexual orientations, educational backgrounds, and other attributes.
Employees with different backgrounds bring on-board different experiences and perspectives, which enhance the quality of decisions. Having a variety of views and opinions results in higher creativity.
4. If your checking account's balance is
$3,678.89 and you withdraw $1,514, what
is the remaining balance?
A $2,164.89
B $5,192.89
C$2,614.89
D $3,678.89
(Step by step ) please
Acompany with a high level of productivity is able to:
A. avoid high opportunity costs.
B. expand without taking on debt.
C. produce goods and s bbbervices efficiently.
D. operate without much Investment.
As Jane was setting up her projector, she realized that the images on the screen appeared blurred. How would Jane sort out the issue by herself?
A.
check that the monitor is connected properly with the projector
B.
adjust the distance between the screen and the projector
C.
make changes in the system settings
D.
adjust the focus
D.
adjust the focus
make it not blury