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leonid [27]
3 years ago
10

If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth i

n 21 months (round to the nearest dollar)?
Business
1 answer:
aksik [14]3 years ago
8 0
<span>To find the compound interest of an investment you have to use this formula, A = P(1 + r/n)^nt, where A is the total amount you have after the investment period, P is the amount you invest or the amount you put in, r is the rate of the of the compound interest in this case 10%, n is the amount of time the interest will be compounded for example, 4 months a year(quarterly) or 6 months a year(semi annually), and t is the amount of time you invest in years. So in this case you are going to substitute everything in the formula with their given value. So P = $700, r = 10%, n = 21 (because it is the number of months we invest for), and t = 2 years (because 21 months fit perfectly in 2 years, and t must always be in years). The resulting formula will be A = $700(1 + 0.1/21)^(21 x 2), which will give you an answer of $855 rounded to the nearest dollar.</span>
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Galla Inc. needs to determine a price for a new product. Galla desires a 25% markup on the total cost of the product. Galla expe
attashe74 [19]

Answer:

Galla should charge $47

Explanation:

Data provided in the question:

Desired markup = 25% of the total cost

Units to be sold = 5,000

Variable product cost per unit = $15

Variable administrative cost per unit = 10

Total fixed overhead = $45,000

Total fixed administrative = $18,000

Now,

Total variable cost

= Variable product cost per unit × Number of units to be sold

= $15 × 5,000

= $75,000

Total variable administrative cost

= Variable administrative cost per unit × Number of units to be sold

= $10 × 5,000

= $50,000

Therefore,

Total cost

= Total variable cost  + Total variable administrative cost + Total fixed overhead + Total fixed administrative

= $75,000 + $50,000 + $45,000 + $18,000

= $188,000

Thus,

Price per unit = Total cost ÷ Number of units to be sold

= $188,000 ÷ 5,000

= $37.6

Price after markup = Price per unit + 25% of price per unit

= $37.6 + ( 0.25 × $37.6 )

= $37.6 + $9.4

= $47

Hence,

Galla should charge $47

4 0
3 years ago
Drag the tiles to the correct boxes to complete the pairs. Match the different types of communications with their descriptions.
Katarina [22]

Answer:

Matching the different types of communications with their descriptions:

Types of Communication  Descriptions

business letter                 : a formal way to communicate with people        

                                           outside your organization

business report               : a way to communicate financial information

note                                  : an informal handwritten message

memorandum                  : a formal way to communicate with people

                                           inside your office

Explanation:

a) Data:

Types of Communication:

business letter

business report

note

memorandum

Pairs

a formal way to communicate with people outside your organization

an informal handwritten message

a formal way to communicate with people inside your office

a way to communicate financial information

b) In Business, choosing the means of clear communication is very essential.  The format used to communicate internally is not the same format for communicating externally.  Even, within an organization, there are still different communication formats.  A handwritten note can be used instead of memorandum for some communications depending on the formality required.  Presenting a business report is more formalized than a handwritten note, for instance.

7 0
3 years ago
An incomplete life insurance application submitted to an insurer will result in which of these actions
Viefleur [7K]
No insurance coverage.
3 0
3 years ago
Victory Corporation sold 400 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record th
Marianna [84]

Answer:The entry to record the sale will include a Credit toPaid in Capital from  treasury stock at $4,000.

Explanation:

Journal entry to record sale of shares

Accounts and explanation          Debit                  Credit

Cash                                        $18,000

Treasury stock                                                      $14,000      

Paid in Capital from Treasury STOCK                  $4,000

Calculation

CASH = Number of  shares x Price per share

= 400 x $45=$18,000

Treasury stock = Number of  shares x Price per share

= 400 x $35=$14,000

Paid In Capital = Cash - Treasury stock= $18,000- $14,000= $4000

6 0
3 years ago
Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are i
wariber [46]

Answer and Explanation:

The computation is shown below:

a.

1. Calculation of the equivalent units

<u>Particulars         Physical units   %     Material   %      Conversion cost</u>

Units transferred

out                          900             100%    900     100%     900

Ending

work in process     600            100%     600     40%       240

Equivalent

units                                                        1,500                  1,140

2. Cost per equivalent unit is

Particulars         Material      Conversion cost

Beginning

inventory           $750               $600

Cost during

period                $2,400            $2,820

Total cost          $3,150             $3,420

Divided by

Equivalent

units                   $1,500            $1,140

Cost per

equivalent unit    $2.1              $3

3. Transferred out cost is

= (3 + 2.1) × 900

= $4,590

And, the ending work in process cost is

= (600 ×$2.1) + (240 × $3)

= $1,960

2. Now the preparation of the production report is presented below:

Beginning work in process       $1,350

Cost during period                    $5,220

Total cost accounted for           $6,570

Transferred out cost                   $4,590

Ending work in process              $1,960

Total cost accounted as             $6,570

3 0
3 years ago
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