Trevor's starting salary at his new job is $40,000. His company gives a performance raise of 5% each year. If Trevor continues in the same position and always receives the performance raise, in how many years will he double his salary?

What type of interest is the capital invested in a transaction is principal and at any time after the investment of the principal, the sum of the principal and the interest due is future amount?

Draw the cash flow diagram with your solution.In a certain department store, the monthly salary of a saleslady is partly constant and partly varies with her sales for the month. When the value of her sales for the month is P10,000, her salary for the month is P900. When her salary for the month goes up to P12,000, her monthly salary becomes P1,000. What must be the value of her sales for the month so that her salary for the month will be P2,000?

please answer

Why is it essential to keep a close eye on fixed expenses?

If you had $1,000 now and invested it at 6%, how much would it be worth 12 years from now?

Q2

James has been working as a Mechanical Engineer ever since he graduated five years ago. Two years ago, he bought and financed a new $25,000 Jeep Compass and still owes $15,750 on his car loan. He has never been late with a car payment. James has one major credit card, with a $1,000 limit. He has had it since his senior year of college and was two months late with a payment one time during that first year. He is currently carrying a balance of $600 on this card. In the last year, James applied for six store credit cards at places that he shops a lot so that he can earn points and get discounts. He carries no balances Part 1: Calculate James’ credit score. Recalculate his credit score if he had not opened the six store credit cards.   Part 2: James is tired of paying rent and would like to purchase a condo so that he can start building equity in his home. He is looking for a 30-year mortgage to purchase a $240,000 condo. What interest rate does James qualify for on a mortgage with his…

Interest inflation and purchasing power

It is likely that airplane tickets will increase 5% in each of the next 4 years. The cost of a plane ticket at the end of the first year will be $10571. How much money would need to be placed in a savings account now to have money to pay for a trip at the end of each year for the next 4 years? Assume the savings account pays 2% annual interest. Round your answer to 2 decimal places. Add your answer