Answer:
Second National Bank
Present value (PV) = $5,400
Future value (FV) = $13,900
Interest rate (r) = 10% = 0.10
FV = PV(1 + r)n
$13,900 = $5,400(1 + 0.10)n
<u>$13,900</u> = (1.10)n
$5,400
2.574074074 = (1.10)n
Log 2.574074074 = n log 1.10
<u>Log 2.574074074</u> = n
Log 1.10
n = 9.9 years
None of the answers is correct
Explanation:
In this case, we will apply the formula of future value of a lump sum. The present value, interest rate and future value were provided with the exception of number of years. Thus, the number of years becomes the subject of the formula. The future value equals present value, multiplied by 1 plus interest rate, raised to power number of years.
Answer: Secondary data
Explanation: In simple words, the data that is collected by someone and is used by someone else is called secondary data. Government reports and surveys by other such organisation are two of the many examples of secondary data.
In the given case, Sandra collected information for her future business from the published research reports. She did not collected data from a census conducted by herself.
Hence, from the above we can conclude that the correct option is B.
Answer:
APY is when interest is added to an account that is earning the money so I belive that is the answer
Answer:
Since there is not enough room here, I prepared the general ledger, the accounts receivable ledger and the schedule of accounts receivable in an excel spreadsheet (attached).
Explanation:
The formula to calculate p/e ratio is: price/earnings.
So, the price of the stock would be
p/e ratio = price/earnings
18 = price / 2.4
Price= 2.4 x 18
Price = 43.2