Answer:
a. 7,000 years
b. 2,333 years
c. 875 years
Explanation:
Based on rule of 70, we can have the following formula to do the calculation:
Number of years to double = 70 ÷ Interest rate per year .................... (1)
We can now calculate as follows:
a. A savings account earning 1% interest per year.
Number of years to double = 70 ÷ 1% = 7,000 years
b. A U.S. Treasury bond mutual fund earning 3% interest per year.
Number of years to double = 70 ÷ 3% = 2,333 years
c. A stock market mutual fund earning 8% interest per year.
Number of years to double = 70 ÷ 8% = 875 years
Note:
It can be observed that the higher the interest rate, the lower the number of years it will take the investment to double.
Answer:
D. $42,000 should be debited to Land Improvements
Explanation:
The cost of the land housing the parking is recorded in the land account. Other costs such as paving cost and lights are improvements and as such are added and recorded in the Land Improvements accounts.
Total Land improvements = $30,000 + $12,000
= $42,000
The right answer is D. $42,000 should be debited to Land Improvements.
Answer:
Option (B) is correct.
Explanation:
Open market operations is a monetary policy instrument that is used by the Federal reserve for controlling the money supply in an economy. If there is a need to decrease the money supply in an economy then fed sells the government securities to the public and on the other hand if there is a need to increase the money supply in an economy then fed purchases the government securities from the public.
So, here the expansionary policy is to purchases the treasury bills from the public.
The best answer for this question would be:
d. The 5 string bass guitar
This innovation is not a dominant design
because it has already been done, and that the attempt of this 5-string would
result in a musical failure.
Answer:
Total liabilities is $170,500
Explanation:
Warren's total liabilities at end of April comprises of the beginning balance of liabilities of $77,000 plus the notes payable signed in respect of the building acquired in the course of the year,the computation is shown below:
Beginning balance of liabilities $77,000
Notes payable $93,500
Total liabilities $170,500
The notes signed by employee of $11,700 is notes receivable as the employee is owing the company and should be classified as notes payable ,but notes receivable instead, an asset.
