Suppose that you would like to put money in an account today to make sure your younger sibling has enough money in 10 years to buy a car. If you would like to give your sibling $20,000 in 10 years, and you know you can get 5% interest per year from a savings account during that time, how much should you put in the account now

The amount to be deposited today = $12,278.26

Explanation:

The amount to be deposited in the account is the present value of the 20,000 future value discounted at 5%.

The formula is given below

PV = FV × (1+r)^(-n)

PV - Present Value, r- interest rate, n- number of years

PV = 20,000 × 1.05^(-10)

The amount to be deposited today = $12,278.26

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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