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
andre [41]
3 years ago
6

Your cousin is currently 10 years old. She will be going to college in 8 years. Your aunt and uncle would like to have $ 105 com

ma 000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.1 % per​ year, how much money do they need to put into the account today to ensure that they will have $ 105 comma 000 in 8 ​years?
Business
1 answer:
telo118 [61]3 years ago
6 0

Answer:

$76,134.84

Explanation:

Data provided in the given question

Future value = $105,000

Fixed interest rate = 4.1%

Number of years = 8

The calculation of present value is given below:-

= Future value ÷ (1 + rate of return)^number of years

= $105,000 ÷ (1 + 4.1%)^8

= $105,000 ÷ 1.379132002

= $76,134.84

Therefore, we simply applied the present value formula.

You might be interested in
Solving for dominant strategies and the Nash equilibrium Suppose Clancy and Eileen are playing a game in which both must simulta
jarptica [38.1K]

Answer:

See attached file

Explanation:

6 0
3 years ago
Prairie, Inc. produces a single product. It has an annual capacity of 10,000 units, but currently uses only 80% of it. Each unit
ivanzaharov [21]

Answer:

Variable cost= $42

Explanation:

Giving the following information:

Each unit is sold for $50

Direct material worth $30

Direct labor worth $5.

Manufacturing overhead cost is $10 per unit of which 70% is variable.

The incremental cost is the variable cost (there is available capacity)

Variable cost= direct material + direct labor + variable manufacturing overhead = 30 + 5 + (10*0.7)= $42

3 0
3 years ago
In general, you will receive higher rates of interest on your certificate of deposit the ____ the maturity and the ____ the doll
ladessa [460]

Answer:

The answer is:

In general, you will receive higher rates of interest on your certificate of deposit the longer the maturity and the higher the dollar amount invested.

Explanation:

Interest rates are returns that an investor receive from their investment (under this situation - investment in certificate of deposit (CD)).

The higher the risk, the higher the return is required to compensate for the risk-taking of investor.

As long time commitment, that is long maturity, gives the investor higher exposure to risk and higher invested amount resulting to higher loss given default; investors will require higher return, that is - interest rate on CD, to compensate for their risk-taking.

Thus, longer and higher should be the correct choice to fill in the blank.

7 0
3 years ago
When distributing a third party research report to its clients, an investment adviser (IA) must:
alexira [117]

Answer:

D.

Explanation:

When distributing a third party research report to its clients, an investment adviser (IA) must disclose that there was a third party involved that prepared the report. This is because disclosing the reports origin is absolutely necessary and required by law when the person that prepared the report is anyone but the investment adviser. Mostly due to the fact that the clients place their trust in the investment adviser and are trusting him/her with their money.

8 0
3 years ago
When Auditing the i._____________ area on the financial statements sending out confirmations is required, unless the following t
stiv31 [10]

Answer:

The missing answer is Accounts Receivable.

Explanation:

If a company (say Sender Limited) provides goods and or services to a customer and that customer is yet to pay, the amount due is entered under the Accounts Receivable (AR) portion of Sender Limiteds financial records. In order words Accounts Receivable (AR) is simply money owned to Sender LImited by clients or other debtors.

In a company's balance sheet, the AR is recognized as Current Assets. That is, it is expected that such monies will come in within a year.

When Auditing the accounts receivable area on the financial statements sending out confirmations is required.

It is normal at this point for auditors to requests (electronically or via traditional mail) to

a. customers to verify accounts receivable and

b.  to financial institutions to confirm outstanding promissory notes.

The following are financial areas that may be investigated:

i. cash transactions,

ii. inventory records, and consigned merchandise

iii. long-term contracts,

iv. accounts payable and contingent liabilities, and

v. any transaction that looks suspicious

Cheers

4 0
3 years ago
Other questions:
  • Which of the following is the principle of management dedicated to the structuring of resources to support the accomplishment of
    8·1 answer
  • Stocks A and B have the following data. Assuming the stock market is efficient and the stocks are in equilibrium, which of the f
    6·1 answer
  • In a long-run equilibrium,
    14·1 answer
  • During the ________ stage of group development, work behaviors evolve into a sharing of information, acceptance of different opi
    11·2 answers
  • A CPA firm evaluates its personnel advancement experience to ascertain whether individuals assigned to increased degrees of resp
    11·1 answer
  • In a 1998 episode of The Simpsons, mogul Monty Burns and Homer Simpson try to buy protec u s. tax evasion and a small island in
    14·1 answer
  • What happen during periods of hyperinfation?
    8·1 answer
  • Grand River Corporation reported taxable income of $600,000 in year 1 and paid federal income taxes of $155,000. Not included in
    9·1 answer
  • Two firms, Boomburgs and ABC X-Plode, both sell the same fireworks bundle. If they sell their fireworks at the manufacturer's su
    11·1 answer
  • Supervisors are apt to be directly involved in which activities related to human resources? (Select all that apply) Multiple sel
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!