Answer:
$1,149,847.955
Explanation:
Given:
- n = 30 years
- Annuity(C) : $95,000 per year
- Rate (r) : 7.25% = 0.0725
The formula we need to use to find the cost your aunt needs to pay is:
PV =
=
= $1,149,847.955
Hope it will find you well.
Unless you're using it to buy a different home, you're reversing the equity-building process and increasing your debt. It's also important to remember that when you tap equity, your home is the collateral: the lender has the right to foreclose if you fall behind on your payments
For traditional retailers selling physical goods, SHELF SPACE <span>is the biggest constraint limiting a firm's ability to offer customers what they want when they want it.
Let's say that you're opening a physical book retailer. The amount of books that you could put in store is very limited to the size of your store.
This type of problems wouldn't be faced by online-based book store, which could store unlimited amount of books because they do not need any space to store their goods
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Well there are basically three types of budgets such as balanced budget, surplus budget and deficit budget
Explanation:
Answer:
Dr Accounts Payable 9200 Cr Cash 9016 Cr Inventory 184
Explanation:
The payment terms of 2/10, n/45 mean that if paid within 10 days the company is entitled to a 2% discount. Otherwise full payment is required within 45 days.
Since we're settling the account within 10 days ( 7 days after purchase ) we are entitled to a 2% discount.
Originally the inventory was recorded at 9200 Dr and a Cr to Accounts payable of 9200.
The day the invetory is paid we will record the following (August 10)
Dr Accounts Payable $9200
Cr Cash/Bank $9016
Cr Inventory $184
Since we're using the perpetual inventory system the actual cost of inventory is 9016 and not 9200. Thus inventory is now recorded at 9016. The cast amount is the actual amount used to settle the account after the 2% discount was applied.