You plan on supplementing your income. you would like to withdraw a semiannual salary of $6,951.20 from an account paying 1.75%
interest, compounded semiannually. determine the amount needed in the account such that you can withdraw the needed amount at the end of each period for 15 years. round to the nearest cent.
1 answer:
We are given with the data: A = <span>$6,951.20 per semi-annum that is $13902.4 per annum, i equal to 1.75% compounded semi-annually, and asked for P or the present worth to maintain the withdrawal for 15 years.
the formula to be used is attached in the file (third one). substitute the i = 0.0175, n = 30, A = </span>$13902.4 and get P.
the formula to be used is attached in the file (third one). substitute the i = 0.0175, n = 30, A = </span>$13902.4 and get P.
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Answer: $55.20
Explanation:
The Weighted Average Cost method of valuing inventory averages the cost of the entire inventory in stock and then uses the resultant cost to value all of the inventory.
As it is an average, it works by adding up all the costs and dividing by the number of units.
1 unit of each good costing the prices listed were purchased so,
= $10 + $12 + $14 + $16 + $17
= $69
5 units were purchased so the average is,
= 69/5
= $13.80 is the cost per inventory unit.
One unit was sold on April 25
4 units therefore remain.
Cost of ending inventory is,
= 13.80 * 4
= $55.20
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