Given:
tuition: 180,000 per year
period to save: 18 years
annual rate of return : 6%
FV = PV * (1+r)^t
180,000 = PV * (1 + 0.06)¹⁸
180,000 = PV * (1.06)¹⁸
PV = 180,000 / (1.06)¹⁸ = 180,000 / 2.854 = 63,069.38
Jack and Jill will have to invest 63,069.38 in the first year to have a total of 180,000 after 18 years.
Using Future Value Annuity formula:
FV of Annuity = P [{(1+r)^n - 1} / r]
180,000 = P [{(1.06)¹⁸ - 1} / 0.06]
180,000 = P (30.906)
P = 180,000 / 30.906
P = 5,824.11
Jack and Jill will have to deposit 5,824.11 every end of the year for the total to reach 180,000 after 18 years.
Answer:
Net operating income will increase by $3664.
Explanation:
Credit card sales = $11.200
Card fees = 3% * $11.200 = $336
Cost of goods sold = $7.200
Net operating income = Sales - Cost of goods sold - card fees
Net operating income = $11.200 - $7.200 - $336 = $3664.
So, net operating income will increase by $3664.
Answer:
Price of products
Explanation:
If a cost provides production report is used to set a selling price of a product that cover manufacturing and all other costs then report is an example of profit
The answer is light line technicians as they are the ones
responsible of providing care and fixing the components of the vehicles,
whether they will diagnose it, replace and identify the faults that causes
failures and complications to the vehicles, they are the ones who are
responsible for providing the support it needs.
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