you want to buy a new ski boat 2 years from now, and you plan to save $7,000 per year, beginning one year from today. you will deposit your savings in an account that pays 6.2% interest. how much will you have just after you make your second deposit, 2 years from now

$14429

Explanation:

For this question, we will use the annuity formula to solve. The future value of an annuity is given as:

= C × ([(1+i)^n - 1] / i)

where,

C = The Cash flow per period

= $7000

i = the interest rate

= 6.2%

n = number of years

= 2

Future value of annuity will now be:

= 7000 × ([(1+0.062)²- 1]/0.062)

= 7000 × ([1.062)² - 1]/0.062)

= 7000 × [(1.1278 - 1)/0.062)]

= 7000 × (0.1278/ 0.062)

= 7000 × 2.0613

= $14429

The answer is $14429

answer; specific performance;

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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