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Lelechka [254]
3 years ago
6

Ashley has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so s

he has started saving for it. At the end of each year, she deposits $1,620 in her bank account, which pays her 10% interest annually. Ashley wants to keep saving for two years and then buy the newest LCD model that is available. Ashley’s savings are an example of an annuity. How much money will Ashley have to buy a new LCD TV at the end of two years?
Business
1 answer:
Lelu [443]3 years ago
4 0

Answer:

$3,402

Explanation:

We are to calculate the future value of the annuity

The formula for calculating future value = A x (B / r)

B = [(1 + r)^n] - 1

R = interest rate

N = number of years

(1.10)² - 1 = 0.21

$1,620 x( 0.21 / 0.1) = $3,402

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Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below
ehidna [41]

Answer:

The gross profit for Adams Company at the end of the first quarter is $1,000

Explanation:

Since in the question it is given that Job 356 and Job 357 is sold at a profit of $500 each. So, for these two the gross profit would be

= Job 356 profit + Job 357 profit

= $500 + $500

= $1,000

The Jobs 356, 357, 358, and 359 were completed which means Job No 360 is in work in process , and Job 358,359,360 have no profit that means they are in the inventory whereas Job 356 and 357 are in sale part.

Therefore, the gross profit for Adams Company at the end of the first quarter is $1,000

8 0
3 years ago
When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid insurance. Additional informa
atroni [7]

Answer:

$227,500

Explanation:

The computation of the total amount of cash paid is shown below:

Cash paid for insurance premium = Prepaid Insurance at end of the year  + Prepaid Insurance recognized - Prepaid Insurance at the beginning of the year

= $61,250 + $218,750 - $52,500

= $227,500

We simply applied the above formula so that the correct amount of cash paid could come with respect to the insurance premium

5 0
3 years ago
Toby kirkland’s parents claim him as a dependent on their tax return. Toby had earned income in the amount of $2,897. What is to
labwork [276]

When we use the IRS rule which states the standard deduction amount should be greater than $900 or the income earned by the taxpayer  for the year in addition with $300 (should not be exceeding the regular standard deduction). Income earned by Toby is $2,897, then add

$300 into it.

The correct standard deduction amount would then be $3,197 ($2,897 +300)=$3197.

Standard deduction is the deduction given by the income tax authorities  to the tax payer.

Internal revenue bulletin is the instrument used by the IRS for announcing all the rules.

To know more about Standard deduction here:

brainly.com/question/3158031

#SPJ4

4 0
2 years ago
When the price of a movie ticket rises from $6 to $8 for senior citizens, Gary (a senior citizen) decides to go to the movies ev
Aleonysh [2.5K]

Answer:

2.33 ; demand for movies is elastic

Explanation:

The computation of the price elasticity of demand is presented below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)  

where,  

Change in quantity demanded is

= Q2 - Q1

= 30 - 15

= 15

And, an average of quantity demanded is

= (30 + 15) ÷ 2

= 22.50

Change in price would be

= P2 - P1

= $8 - $6

= $2

And, the average of price is

= ($8 + $6) ÷ 2

= 7

So, after solving this, the price elasticity of demand is 2.33

Since it is not given by which method we have to calculate it. So, we use the mid point formula.

Based on the above calculation, we concluded that the demand for movies is elastic

7 0
3 years ago
Review each of the investment opportunities provided by Earll Investments and Pima Financial Trading. In at least two to three p
irga5000 [103]

Answer:

Investment Opportunity 1 has a few risks.Though it invests in stocks, it makes consistent profits. It lacks volatility because managers carefully select stocks with long-term earning potential. Investment Opportunity 2 risks are related to changing interest rates, which can cause bonds to make less money for bondholders. Also, it may be affected by inflation, and it carries the risk of default: if a city or county government fails to make its bond payments, then the bondholder loses money. Both companies tell you the risks, and they have the same level of it. Investment Opportunity 1 has three documents to illustrate the fund’s risks and returns over the past five years.The first graph lists how a hypothetical investment of $10,000 fared over those five years. The second graph lists an overall earnings percentage for four different earnings periods. The final graphic shows how the company rates the level of risk. Investment Opportunity 2 also provided three documents to illustrate the fund’s risks and returns over the past five years. The first graph lists how a hypothetical investment of $10,000 fared over those five years. The second graph lists an overall earnings percentage for four different earnings periods. The final graphic shows how the company rates the level of risk. Both say the potential returns of each investment, but investment opportunity 1 hypothetical investment of $10,000 fared over those five years is not as steady as investment opportunity 2. Investment Opportunity 2 is the fraudulent one because its percentage of return is better than investment opportunity 1. Both are with large companies that are almost just alike but investment opportunity 2 has a better rates of return. The first one serves thousands of customers and specializes in managing stocks and mutual funds. The second firm serves thousands of customers, and it specializes in managing mutual funds that invest in bonds.

Explanation: Hope this helps this is what I used for <u>Edge 2020</u> ^-^. Also I do not take credit for this answer, but I feel like this is a very well and detailed answer.

7 0
2 years ago
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