1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jeka94
4 years ago
15

Your parents want to place money in an account so that you can withdraw $200 a week for the next four years while you finish col

lege and graduate school. If they place the money in an account that earns 4% interest, compounded weekly, how much do they need to place in the account so that the funds will be depleted in four years? (Assume that you will make the first withdrawal one week from today.)
Business
1 answer:
professor190 [17]4 years ago
4 0

Answer:

The answer is: $38,429

Explanation:

You need to withdraw 208 payments (52 weeks x 4 years)

Each payment is $200

Discount interest is 0.0769% (4% yearly interest / 52 weeks)

So the present value of the cash flow is: PV = $38,429

The best way to calculate the PV is to use an excel spreadsheet and the NPV formula:

=PV(0.0769%,L1:L208) where L1 to L208 all equal 200

You might be interested in
When a negative externality exists, the private market produces?
mart [117]
The private market will produce more than the economically efficient output level. Also when there is a negative externality then the cost to producers will be less than the cost to society. Remember that a negative externality is a cost that is suffered by a third party as a result of an economic transaction. Also have in mins that externalities lead to market failure<span> because the price equilibrium </span>does<span> not reflect the true costs and benefits of a product.</span>
4 0
4 years ago
On October 15, 2021, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $31.4
Ira Lisetskai [31]

Answer:

Prepare journal entries for each transaction wherever necessary.

Explanation:

October 15,2021

Retained Earnings 11.6*5*5%  Dr.$2,900,000

Cash                                          Cr.$2,900,000

Treasury Stock 100,000*31.4  Dr.$3,140,000

Cash                                          Cr.$3,140,000

7 0
3 years ago
ILL MARK BRANLEST
Andrew [12]
This correct answer is True
5 0
2 years ago
Read 2 more answers
. Unique Games, a not-for-profit entity organized to provide athletic competition opportunities for high school students, utiliz
eimsori [14]

Answer:

The answer is $0.

Explanation:

Contributed service revenue or contributed revenue can be defined as the service or goods received with no payment or any other kind of exchange.

So in this question, the work from the volunteers and the film from CPA can be all accounted for contributed service revenue.

If we calculate them;

  • The movie costs $60 per hour so at 60 hours, it would cost $3600.
  • The 50 volunteers worked a total of 1000 hours, at $6 per hour, the total cost is $6000.

But since Unique Games are a non-profit entity, the amount they should recognize as contributed service revenue is $0.

I hope this answer helps.

8 0
4 years ago
When the businesses within an organization share some resources and technologies and each business generates less than 40 percen
igor_vitrenko [27]

Answer:

A. related-constrained

Explanation:

From our question, it is observed that businesses within an organization share some resources and technology. However, each business generates less than 40 percent of the sales revenue of the organization. This means that there is no dominant business within the organization.

The businesses operate on a scale of <em>Operational Relatedness</em>. This is the use of a related constrained diversification strategy to share activities among businesses.

Therefore, the firm is using the related-constrained diversification multiproduct strategy.

6 0
3 years ago
Other questions:
  • A city government imposes a proportional income tax on all people who earn income within its city limits. In​ 2004, the​ city's
    14·1 answer
  • Refer to the table above for a certain product's market in econland. if the world price of the product were $6 and an import quo
    15·1 answer
  • Direct materials $ 74,000 Direct labor $ 37,500 Variable manufacturing overhead $ 17,000 Fixed manufacturing overhead 29,500 Tot
    5·1 answer
  • Production estimates for August are as follows:
    5·1 answer
  • The balance of the Cost of Goods Sold account at the end of the year represents:(A) The cost of inventory not sold in the curren
    15·1 answer
  • Many accounting professionals are skilled in financial analysis, but most are not skilled in manufacturing. This is especially t
    5·1 answer
  • Nate purchased an​ interest-bearing security last​ year, planning to hold it until maturity. He received interest​ payments, and
    12·2 answers
  • King, CPA, is auditing the financial statements of Cycle company, a client that has receivables from customers arising from the
    13·1 answer
  • Solve the problem.
    15·1 answer
  • You are replacing a team’s leader and have noticed a number of team norms. If you are wondering how certain behaviors got establ
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!