You have the choice of receiving $80,000 now or $40,000 now and another $56,000 six years from now. In terms of today's dollar, which choice is better and by how much? Money is worth 6.3%compounded annually.KWhich choice is better?OA. The choice of $80,000 now is better.OB. The choice of $40,000 now and $56,000 in six years is better.OC. They are equal in value.ew an example80F3Get more help.000F4F5MacBook AirF6F7DIIF8DDF9F10Clear allF11Final checkF12

Answered: Image /qna-images/answer/e50338ee-1dd1-457d-b334-c3b72fc9c342.jpg

Answered: You have the choice of receiving…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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You invest $49,010 in an account earning 5.26% APR, compounded daily. How much total interest is earned on the account after 235 days? Round your answer to the nearest cent. The total interest earned on the account is $ after 235 days.
Nicolas deposited $800 into an account that pays 3.48% annual interest compounded quarterly. The balance in the account after 15 years was $1345.28? What was the overall percent increase in the account balance from the initial deposit at the end of 15 years? Input the number followed by the percent sign. Do not put a space between the number and the percent sign. Round to the nearest hundredth of a percent if necessary? Example: 43.57%
Ashley lives in a condominium in downtown Toronto and works as a business analyst. He earns an annual take-home salary of $61,200, and every month he spends $1,500 on rent, $500 on car expenses, $200 on a line-of-credit interest payment, $400 on miscellaneous expenses, and saves $2,500. a. What percent of his monthly take-home salary are his monthly expenses? %= Round to two decimal places. b. His financial advisor suggested he invest 27% of his take-home salary in a mutual fund. What percent of his current savings would this amount be? %E Round to two decimal places.
You have the choice of receiving $80,000 now or $40,000 now and another $56,000 six years from now. In terms of today's dollar, which choice is better and by how much? Money is worth 6.3% compounded annually. K Which choice is better? A. The choice of $80,000 now is better. OB. The choice of $40,000 now and $56,000 in six years is better. OC. They are equal in value. The better choice is greater than the alternative choice by $ in terms of today's dollar. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) ew an example Get more help. 80 F3 DOD 000 F4 F5 1 ➡ MacBook Air F6 C F7 √i Vi DII F8 1, (1,0) More F9 F10 Clear all F11 Check answer F12 X
I have $30,000 to put into an account. Explain which account would be better for me to choose. Account A: pays 2% interest, compounded monthly, for 10 years. OR Account B: pays 3% interest, compounded quarterly, for 8 years.
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You deposit $1000 into an investment account. 8 years later, the amount in the account has doubled. What is the percent growth (as a decimal) of the account?

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