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Finger [1]
3 years ago
10

Steve Wilson wants to deposit $150 per month into an account earning 4 percent for the next 3 years, so he can purchase a used c

ar at that time. What type of computation would he use to determine the amount he will have for his purchase?
A) Simple interest
B) Future value of a single amount
C) Present value of an annuity
D) Present value of a single amount
E) Future value of an annuity
Business
1 answer:
Lelu [443]3 years ago
5 0

Answer:

E

Explanation:

Future value of an annuity is a method used to calculate the value of a recurring payments in the future.It involves the principal payment , a specific timeline and also interest or discount rate.

Assuming the rate of discount or interest do not change , it can help to accurately predict the value of a future payment or saving.

The interest or discount rate is factored into the present value of the annuity in order to derive the future value.

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Which of the following would not be characteristic of a chain restaurant?
mr_godi [17]

Answer:

C: ability to set your own hours of operation

Explanation:

With a chain restaurant you have to have the same hours as other restaurants in that chain.

7 0
3 years ago
Read 2 more answers
A monopolist sells 2,000 units for $20 each. The total cost of 2,000 units is $30,000. If the price falls to $19, the number of
leonid [27]

Answer:

Decrease by $1

Explanation:

Given:

Old data:

Q0 = 2,000 units

P0 = $20

Total revenue before change = 2,000 x $20 = $40,000

After change in Price.

Q1 = 2,100 units

P1 = $19

Total revenue After change = 2,100 x $19 = $39,900

Computation of Marginal Revenue:

Marginal Revenue = (P1 - P0) / (Q1 - Q0)

= ($39,900 - $40,000) / (2,100 - 2,000)

= -100 / 100

= $(-1)

Marginal revenue will decrease by $1

8 0
3 years ago
Developing, pricing, promoting, and delivering services is challenging because the quality of a service is often A. inseparable.
ZanzabumX [31]

Answer:

B. inconsistent

Explanation:

Marketing mix refers to a blend of those key marketing facets which increase consumer purchases.

Marketing mix is often emphasized by it's 4 P's i.e Product, Price, Place and Promotion.

Product is a bundle of attributes and utilities, price refers to the consideration received or receivable, promotion refers to sales promotion and advertisement channels while place refers to delivery or location where the buyer gets the product.

In case of a service, which is intangible unlike a product, it's quality and delivery is dependent upon it's provider. And since no two individuals can render exactly the same kind of service, owing to varied individual capabilities, the quality of a service is usually inconsistent or say unequal.

8 0
3 years ago
The Chester Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. Suppose
Lena [83]

Answer:

(B) $38,446,000

Explanation:

Assuming a linear depreciation model, depreciation will occur at the same rate each year. Since the total after 15 years is 90% of the original value, the percentage depreciated per year is given by:

P= \frac{90\%}{15} \\P=6\%

The book value (V) of this purchase after the first year will be:

V=\$40,900,000*(1-0.06)\\V=\$38,446,000

Therefore, the answer is (B) $38,446,000

3 0
3 years ago
Qs 20-13 manufacturing: direct materials budget lo p1 miami solar manufactures solar panels for industrial use. the company budg
Helen [10]

Calculation of Direct Material Budget for the month of July:

Budgeted production (Units) for July 5,000

Material required per unit (pounds) 3

Material requirement for July (pounds) = (5000 units * 3 pounds) 15,000

Add: Ending material inventory (5300 units * 3 pounds* 30%) 4,770

Less: Beginning material inventory 4,500

Direct Material Purchase (Pounds) (15000+4770-4500) = 15,270

Cost per pound of Metrial ($) $6.00

Direct Material Purchase ($) (15270 pounds * $6) = $91,620

7 0
3 years ago
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