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WITCHER [35]
3 years ago
7

Mack opened a cd 10 years ago at an interest rate of 7.8%, compounded monthly. According to the rule of 72, when did he have hal

f the amount of money that he has now?
A. about 9.2 years ago
B. about 4.6 years ago
C. about 3.9 years ago
D. about 7.8 years ago
Business
2 answers:
Yakvenalex [24]3 years ago
8 0
72 rule says
72/rate=Time
72/7.8= 9.23 years
Ivan3 years ago
8 0

Answer:

A. about 9.2 years ago

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Suppose you receive at the end of each year for the next three years. a. If the interest rate is ​, what is the present value of
Furkat [3]

Answer:

the question is missing the numbers, so I looked for a similar question:

Suppose you receive $100 at the end of each year for the next three years. a. If the interest rate is 8%, what is the present value of these cash flows? (Answer: $257) b. What is the future value in three years of the present value you computed in (a)? (Answer: $324.61) c. Suppose you deposit the cash flows in a bank account that pays 8% interest per year. What is the balance in the account at the end of each of the next three years (after your deposit is made)? How does the final bank balance compare with your answer in (b)?

a) PV = $100/1.08 + $100/1.08² + $100/1.08³ = $257.71

b) FV = $257.71 x (1 + 8%)³ = $324.64

c) FV = ($100 x 1.08²) + ($100 x 1.08) + $100 = $324.64

it is exactly the same as the answer for (b)

5 0
2 years ago
Cullumber Company has the following balances in selected accounts on December 31, 2020.
wolverine [178]

Answer and Explanation:

The adjusting entries are shown below:

1. Interest expense [$11,400 × 9% × 4 ÷ 12] $342  

    To Interest payable  $342

(being accrued interest expense is recorded)  

2. Supplies expense [$2,200 - $820] $1,380  

     To Supplies  $1,380

[Being supplies expense is recorded]  

3. Depreciation expense $1,200  

     To Accumulated depreciation-Equipment $1,200

[Being depreciation expense is recorded]  

4 Insurance expense [$3,960 × 7 ÷ 12] $2,310  

          To Prepaid insurance  $2,310

[being insurance expense is recorded]  

5  Unearned service revenue $7,000  

             To Service revenue $7,000

[Being revenue from unearned is recorded]  

6 Accounts receivable $4,200  

         To Service revenue  $4,200

[Being accrued service revenue is recorded]  

7 Salaries expense [$5,400 ×  3 ÷ 5] $3,240  

          To Salaries payable $3,240

[being accrued salaries expense is recorded]

4 0
2 years ago
At the end of the month, you have only $10 left in your checking account. You deposit your $200 pay­check from your part-time wa
Anuta_ua [19.1K]

Answer:

the money left in your account is $ 460 because you deducted $ 50

Explanation:

7 0
2 years ago
Low-income countries have cultures that value ________
victus00 [196]
Low-income countries have cultures that value economic survival. These type of countries do not have a lot of high paying jobs and the job market is very unstable, so citizens find it imperative to have enough income to survive. These types of countries do not have much in the way of entertainment culture or pop culture, due to people having so little extra money to spend on both.
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3 years ago
Intermediaries are defined as Multiple Choice companies responsible for developing products to sell to businesses. organizations
weqwewe [10]

Answer:

organizations that are in the middle of a series of organizations that distribute goods from producers to consumers.

Explanation:

Intermediaries can be described as middlemen. They enhance the flow of goods and services between the producer and the consumer.

They are organizations that are in the middle of a series of organizations that distribute goods from producers to consumers.

Types of Intermediaries

  1. agents
  2. wholesalers
  3. distributors
  4. retailers.

Advantages of Intermediaries

  1. They increase efficiency of the distribution process
  2. they provide logistics support

Disadvantage of Intermediaries

they can increase the cost of a good

6 0
2 years ago
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