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Gekata [30.6K]
3 years ago
15

Juan Garza invested $112,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? Use Appendix A for an

approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Business
1 answer:
jasenka [17]3 years ago
3 0

Answer:

$247,300

Explanation:

Given that

Invested amount = Present value = $11,2000

Time = 10 years × 4 quarter = 40

The rate = 8% ÷ 4 = 2%

So, we have to applying the future value formula which is presented below:

Future value = Present value × (1 + interest rate)^ time period

                      = $112,000 × (1 + 0.02)^40

                      = $112,000 × 1.02^40

                      = $112,000 ×2.2080396636

                      = $247,300

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Mest Company has 9 employees. FICA Social Security taxes are 6.2% of the first $118,500 paid to each employee, and FICA Medicare
bulgar [2K]

Answer:

Following are the solution to this question:

Explanation:

Please find the complete question and its solution in the attached file.  

7 0
3 years ago
Equipment purchased at the beginning of the fiscal year for $150,000 is expected to have a useful life of 5 years, or 15,000 ope
CaHeK987 [17]

Answer:

(a). Depreciation for 1st year= $24,000

Depreciation for 2nd year= $24,000

(b). 1st Year Depreciation = $20,000

for 2nd year depreciation = $26,000

(c) 1st year Depreciation= $60,000

2nd year Depreciation = $36,000

Explanation:

a).

Annual Depreciation of Equipment = (Cost of Equipment - Residual Value) ÷ Useful Life of Equipment

= ($150,000 - $30,000) ÷ 5

= $24,000

Rate of Straight Line Depreciation = Annual Depreciation of Equipment ÷ (Cost of Equipment - Residual Value) × 100

= 24,000 ÷ ( $150,000 - 30,000) × 100

= $24,000 ÷ $120,000 × 100 = 20%

Depreciation for 1st year= $24,000

Depreciation for 2nd year= $24,000

b). Unit Of Production For 1st Year Depreciation= (Cost Of Equipment -Residual Value) × Annual Production Units ÷ Total Operating Hours

= ($150,000 - $30,000) × 2,500 ÷ 15,000 = $20,000

Unit of Production for 2nd year depreciation = ( $150,000 - $30,000) × 32,50 ÷ 15,000

= $26,000

c). Declining Balance Depreciation Rate = Straight Line Depreciation Rate × 2

= 20% × 2 = 40%   (Because Declining Balance at Twice the Straight Line Rate)

1st year Depreciation= $150,000 × 40÷100 = $60,000

2nd year Depreciation = ($150,000 - $60,000) × 40÷100 =$36,000

8 0
3 years ago
As societies become larger humans devised new cultural systems to ____
Aloiza [94]
<span>Group Cohesion This can be termed as a bond that pulls individuals toward enrollment in a specific gathering and opposes separation from that gathering.</span>
3 0
3 years ago
One advantage of a fixed interest rate over a variable rate is that a fixed rate
koban [17]

Fixed rates have the advantage over variable rates in that debt may be readily repaid within the allotted time. Hence, choice B

<h3>What is a fixed and variable rate?</h3>

Loans with fixed interest rates have an interest rate that will not change throughout the loan's term, regardless of changes in market interest rates. A loan with a variable interest rate is one in which the interest rate imposed on the outstanding balance changes in accordance with changes in the market interest rates.

Therefore, the benefit of fixed rate versus variable rate is that it enables speedier debt repayment.

Learn more about interest rates:

brainly.com/question/14445709

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6 0
2 years ago
M9.5 Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand f
Dahasolnce [82]

Answer:

26 packages

Explanation:

Given that:

The demand D = 186 packages in a week

Standard deviation  = 13packages

The lead time L = 1.5 weeks

Order quantity Q = 750 packages

The Confidence service Level = 0.95

At the service level (SL) if we find the P(Z) of the SL using Excel, we have:

P(Z) = NORMSINV(0.95)

P(Z) = 1.64

Thus;

the safety stock = Z × SD√L

= 1.64 \times 13 \sqrt{1.5} \\ \\

= 1.64 \times 13 (1.224745)

= 1.64\times15.92

= 26.11156

≅ 26 packages

7 0
2 years ago
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