Answer: $3,580.30 (converted to 2decimal places).
Antwone need to deposit " $3,580.30008” into the account each semi-annual period in order to take his vacation in 2 years
Explanation:
By using compound interest formula below to solve the question
A = p ( 1 + r/n)^nt
A = amount (future value)= $3,800
P = principal (present value) ?
r = annual nominal rate = 3%= 0.03
n = today number of compounding years = semiannually (2 interest payments period in a year) = 2
t = time in years =2
3,800 = p ( 1 + 0.03/2)^2(2)
3,800 = p ( 1 + 0.015 )^4
3,800 = p ( 1.015 ) ^4
3,800 = 1.06136355 p
divide both sides by 1.06136355
p = 3,800 / 1.06136355
p = $3,580.30008
≈$3,580.30 ( rounded off to 2d.p)
Answer:
true
Explanation:
it can actually be attached to the portfolio without scanning
Answer:
Cash balance is $652,440
Explanation:
The cash balance is computed as:
Cash balance = Checking account balance + Cash Advance
= $651,600 + $840
= $652,440
Future plant expansion would not be included in cash balance because it is restricted to use as it is kept for future expansion.
Advance to executive will not be included in the cash balance because it is an advance which is receivable in future.
Refundable deposit will also not be included as it is refundable in nature and act as receivable.
Treasury bill is not included as it represent temporary investment.