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
kow [346]
3 years ago
6

You have just received notification that you have won the $1.4 million first prize in the lottery. However, the prize will be aw

arded on your 100th birthday, 70 years from now. (Wow, you’re older than I generally think!) The appropriate discount rate is 8%. What is the present value of your winnings?a. $4,288.16
b. $6,404.20
c. $15,309.91
d. $23,333.33
e. $25,000.00
Business
1 answer:
eimsori [14]3 years ago
7 0

Answer:

b. $6,404.20

Explanation:

Value of prize = $1.4 million = $1,400,000

Amount to be received in years = 70 years

Interest Rate  = 8%

Future value = Present value x ( 1 + interest rate )^-number of years

FV = PV x ( 1 + r )^n

1,400,000 = PV ( 1 + 0.08 )^70

1,400,000 = PV ( 1.08 )^70

1,400,000 / ( 1.08 )^70 = PV

PV = $6404.20

So The present value of the winning is $6,404.20.

You might be interested in
A questionnaire was given to students. the first question asked was​ "how stressed have you been in the last week on a scale of
algol [13]
The question is: Which scale rating describes the greatest number of student and how many student responded with this rating.
From the frequency distribution table attach to the question, the scale rating with the highest number of student is  7 out of 10 and the number of students that responded with this rating is 27 students.
7 0
3 years ago
The manufacturing overhead budget at Cutchin Corporation is based on budgeted direct labor-hours. The direct labor budget indica
Setler [38]

Answer:

$59,080

Explanation:

The calculation of September cash disbursements is shown below:-

September cash disbursement = Company's budgeted fixed manufacturing overhead - Depreciation + Variable manufacturing overhead

= $43,120 - $3,640 + $7.00 × 2,800

= $43,120 - $3,640 + $19,600

= $62,720 - $3,640

= $59,080

Therefore for computing the September cash disbursement we simply applied the above formula.

4 0
3 years ago
The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below.
Arlecino [84]

Answer:

Date   Accounts Titles & Explanation  Debit  Credit

Dec 31    Rent Expense                          $2,040

               ($6,120 *2/6)

                      Prepaid Rent                       $2,040

Dec 31     Deferred Revenue                 $525

                      Service Revenue                           $525

Dec 31    Salaries Expense                     $700

                      Salaries Payable                           $700

Dec 31     Supplies Expense                  $2,390

                ($3,100 - $710)

                      Supplies                                       $2,390

       

              Demon Deacons Corporation

                 Adjusted Trial balance

                  December 31, 2021

         Accounts             Debit$        Credit$

Cash                               9,100

Account receivable       14,100

Prepaid rent                   4080

Supplies                          710

Deferred revenue                               1,575

Salaries payable                                  700

Common stock                                    11,000

Retain earnings                                   5,100

Service revenue                                 45,245

Salaries expenses          31,200

Rent expenses                2,040

Supplies expenses         <u>2,390</u>          <u>              </u>

Total                                $<u>63,620</u>     $<u>63,620</u>

Prepaid rent = 6,120 - 2,040 =  4080

Supplies = 3100 - 2390 = 710

Deferred revenue = 2,100 - 525 = 1575

8 0
3 years ago
Having just one error on a cover letter may eliminate an applicant from being considered for employment.
zubka84 [21]

Answer:

i think its true

Explanation:

im sorry if im wrong

8 0
3 years ago
Read 2 more answers
What does humanidocious mean??
Ilia_Sergeevich [38]
Humanidocious is not an actual word because it is not on dictionaries or word that is being used with the definition it contains as this word is a made up or not a real word because this has been used in means of making a made up or fake word in replacing or trying to define something where in the word does not actually exist.
8 0
3 years ago
Other questions:
  • Dottie Beauchamp recently was hired by PetSmart to help recruit, select, and train new employees to work in its stores. Beaucham
    5·1 answer
  • On January 2, 20X1, Schneider Company issues $100,000 of 6% bonds. Interest of $3,000 is payable semi-annually on June 30 and De
    14·1 answer
  • All of the following components are commonly found in tents housing in rental housing agreements Except
    9·1 answer
  • Cash received before services are performed may be recorded as a debit to a Cash account and a credit to a liability account is
    12·1 answer
  • Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $162
    14·1 answer
  • You purchased 250 shares of a particular stock at the beginning of the year at a price of $104.32. The stock paid a dividend of
    15·1 answer
  • Real per capita GDP in Taiwan in 1961 was about $500, but it doubled to about $1000.00 by 1981. a. What was the average annual e
    13·1 answer
  • On January 1, 2020, a customer purchased a new $29,400 automobile, making a downpayment of $840. The customer signed a note indi
    12·1 answer
  • A company's ____________ is the percentage of the total target market for the product that belongs to the company.
    14·2 answers
  • Kkkkkkkkkkkkkkkkkk<br>kkkkkkkkkkkkkkkkkkk
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!