Answer:
$521,444
Explanation:
PMT (Monthly deposit) = $458
i/r = 6.3% / year = 0.525% / month (Since the interest is compounded monthly, the interest should be calculated in monthly)
n = 31 years = 372 months. Since the first deposit will be made one month from now, n = 371 should be input into financial calculator.
PV (Present Value) = 0
FV = $521,444
Answer:
You can put this solution on YOUR website!
A 1987 advertisement in the New Yorker solicited offers on a 1967 Mercury Cougar XR7 (Motor Trend's 1967 car of the year) that had been stored undriven in a climate controlled environment for 20 years.
If the original owner paid $4000 for this car in 1967, what price would he have to receive in 1987 to obtain a 10 percent annual return on his investment?
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If the 10% is compounded yearly the price is as followed.
A(10) = 4000(1+(0.10/1))^(10*1)
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A(10) = 4000(1.1)^10
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A(10) = $10,374.97
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Cheers,
Stan H.
Answer:
Cash Over and Short
Explanation:
An income statement account that is used to record cash overages and cash shortages arising from petty cash transactions or from errors in making change is titled Cash Over and Short.
By definition, 'Cash Over and Short' is an account within the general ledger of a company in the income statement in which shortages or overages of cash is posted.
At the end of the period, the balance in the account (whether debit or credit) will determine what side of the income statement it will appear.
Answer:
the correct answer is a) Fast
Explanation:
can you guess to reason behind it? it's simple. mainly because people value their money are mostly risk aversive. this means they tend not to take risks and avoid them.
although an opportunity to make more money, more profits, more publicity seems lucrative at first, all of these premium opportunities carries an unavoidable risk with them and there is a chance that the opportunity might not turn out to be as we expect it.
so it is because of this it is difficult to raise funds fast!