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2 years ago

If $1,000 was deposited today at a rate of 15%, its future value in one year would be

Business

1 answer:

aleksley [76]2 years ago

6 0

Answer:

$1,150.

Explanation:

First, we find what that 15% is by setting an equation:

$\frac{15}{100} \times \frac{1000}{1}$

This gives us: $150

Now, we just add that to the deposited money.

$1000 + $150 = $1,150

Hope this helps!

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Frank purchased his house 16 years ago by taking out a 25-year mortgage for $150,000. the mortgage has a fixed interest rate of

Andrej [43]

The current value of the mortgage will be given by:
A=P(1+r/100)^n
where:
P=$150,000
r=5%
n=16 years
therefore:
A=150000(1+5/100)^16
A=150000(1.05)^16
A=$201,014.35
If He wants to pay off his mortgage now, he needs $201,014.35

4 0

3 years ago

Read 2 more answers

You currently own 100 shares of stock in Beverly Brothers Inc. The stock currently trades at $120 a share. The company is contem

Gwar [14]

Answer:

No option is correct, since you will have 200 shares and each share should be worth around $60.

Explanation:

If the 2-for-1 stock split takes place then you will have 200 shares instead of 100. For every 1 share that you currently own, the corporation will issue another share.

Since the price of the shares was $120 before the stock split, after the stock split the price will be divided by two (the same proportion). So each new share will cost approximately $60.

In order for option 2 to be correct, the stock spit should have been 3-for-1.

8 0

3 years ago

Bull'sEye sells gift cards redeemable for Bull'sEye products either in-store or online. During 2016, Bull'sEye sold $2,000,000 o

alekssr [168]

Answer:

b) $1,950,000

Explanation:

Value of gift cards redeemed with those whose date of redemption has passed, will both have the amount to revenue out of $2,000,000 of the gift cards sold.

Total gift card revenue to be recognized in 2016 = $1,800,000 + $150,000

Total gift card revenue to be recognized in 2016 = $1,950,000

4 0

3 years ago

Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calcula

Tamiku [17]

Answer:

Unitary elastic

Elasticity of demand is unitary elastic because the absolute value of elasticity is equal to 1.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price

Percentage change in quantity demanded = (25 - 15) / 25 = 0.4 × 100 = 40%

Percentage change in price = ($5 - $7) / $5 = 0.4 × 100 = 40%

Elasticity of demand = 40% / 40% = 1

If coefficient of elasticity is equal to 1, demand is unit elastic. It means that a change in price has an equal efect on the quantity demanded. Quantity demanded has an equal and proportional change to changes in price.

I hope my answer helps you

3 0

3 years ago

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business,

Flauer [41]

Answer:

Ayala Architects

Journal Entries:

Apr. 1 Debit Cash $22,770

Credit Common Stock $22,770

To record common stock for cash.

Apr. 2 Debit Rent Expense $1,138

Credit Cash $1,138

To record rent expense paid for cash.

Apr. 3 Debit Supplies $1,644

Credit Cash $1,644

To record Supplies paid for cash.

Apr. 10 Debit Accounts Receivable $2,403

Credit Service Revenue $2,403

To record services rendered on account.

Apr. 11 Debit Cash $885

Credit Deferred Revenue $885

To record cash receipt for services not yet rendered.

Apr. 20 Debit Cash $3,542

Credit Service Revenue $3,542

To record cash received for services rendered.

Apr. 30 Debit Salaries $1,896

Credit Cash $1,896

To record payment of salary.

Apr. 30 Debit Accounts Payable $379

Credit Cash $379

To record payment on account.

Explanation:

a) Data and Analysis:

Apr. 1 Cash $22,770 Common Stock $22,770

Apr. 2 Rent Expense $1,138 Cash $1,138

Apr. 3 Supplies $1,644 Cash $1,644

Apr. 10 Accounts Receivable $2,403 Service Revenue $2,403

Apr. 11 Cash $885 Deferred Revenue $885

Apr. 20 Cash $3,542 Service Revenue $3,542

Apr. 30 Salaries $1,896 Cash $1,896

Apr. 30 Accounts Payable $379 Cash $379

6 0

3 years ago