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lawyer [7]
3 years ago
7

If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years

assuming a 12% annual return and quarterly compounding?
Business
1 answer:
Basile [38]3 years ago
7 0

Answer:

The Final Value is $40,305.56

Explanation:

Giving the following information:

Gerry deposits $1,500 at the end of each quarter for five years.

Interest rate= 12% quarterly compounding

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit= 1,500

i= 0.12/4= 0.03

n= 5*4= 20

FV= {1,500*[(1.03^20)-1]} / 0.03

FV= $40,305.56

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9. What do you understand by the term financial futures?
Ede4ka [16]

Answer:

Explanation:

It's A and that's a very good definition, except I believe you lost a word. I think it should be a specific commodity or stock or bond at a specified date ...

6 0
2 years ago
Alden Trucking Company is replacing part of its fleet of trucks by purchasing them under a note agreement with Kenworthy on Janu
Romashka [77]

Answer:

D) $32,624,514.

Explanation:

Installments (A) = $10,070,000

Principal due (B) = $39,169,279

Interest Payment (C) =B x 9% = $39,169,279*9%

Interest Payment (C) = $3,525,235

Principal Payment (D) = A - C

Principal Payment (D) = $10,070,000 - $3,525,235

Principal Payment (D) = $6,544,765

Total Due (E) = B - D

Total Due (E) = $39,169,279 - $6,544,765

Total Due (E) = $32,624,514

So, after the first payment was made, the note payable liability on December 31, 2016 is closest to $32,624,514

7 0
2 years ago
Company Pea owns 90 percent of Company Essone which in turn owns 80 percent of Company Esstwo. Company Esstwo owns 100 percent o
ankoles [38]

Answer:

Company Pea

Consolidated financial statements should be prepared to report the financial status and results of operations for:

Essone - 90%

Esstwo = 72% (90% x 80%)

Essthree = 72% (90% x 80% x 100%)

Explanation:

Company Pea is described as the holding or parent company of Company Essone.  This means that Essone is Company Pea's subsidiary.  In preparing consolidated financial statements to report the financial status and results of operations for Company Essone, Company Pea will consolidate 100% of Company Essone while accounting for noncontrolling interest of 10% (effectively 90%).

When Company Essone is consolidating its financial statements, it should consolidate 80% of Company Esstwo while Esstwo consolidates 100% of Company Essthree.

But since Essthree is also a subsidiary of Company Pea, Company Pea will consolidate Esstwo and Essthree's financials to the tune of 72% respectively, while consolidating 90% of Essone's.

8 0
3 years ago
From 1970 to 1998 the U.S. dollar a. gained value compared to the German mark because inflation was higher in the U.S. b. gained
yawa3891 [41]

Answer:

lost value compared to the German mark because inflation was lower in Germany

Explanation:

Inflation is a persistent rise in the general price levels

Types of inflation

1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise

2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect  

If inflation of the currency of a country increases relative to that of another country, the value of that currency decreases

8 0
2 years ago
An attendant at a car wash is paid according to the number of cars that pass through. Suppose the probabilities are 1/12, 1/12,
Paladinen [302]

Answer: The attendant’s expected earn- ings for the period between 4:00 P.M and 5:00 P.M is <u>$12,67.</u>

Explanation: <u>The discrete random variable X</u> represent attendant’s earnings.

The expected value of the discrete random variable X is

<h2>= E (x) = ∑× f(x)</h2><h2>= 7 × 1/12 + 9 × 1/12 + 11 × 1/4 + 13 × 1/4 + 15 × 1/6 + 17 × 1/6 = <u>12,67.</u></h2><h2><u /></h2>
5 0
3 years ago
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