Answer:
$532.24
Explanation:
Since Mr. Wise will be making monthly payments for the period of 25 years in order to accumulated the $1,000,000 at the end of 25 years, therefore, the future value of annuity shall be used to determine the monthly payments to be deposited by Mr Wise. The formula of future value of annuity is given as follows:
Future value of annuity=R[((1+i)^n-1)/i]
In the given scenario:
Future value of annuity=amount after 25 years=$1,000.000
R=monthly payments to be deposited by Mr Wise=?
i=interest rate per month=12/12=1%
n=number of payments involved=25*12=300
$1,000,000=R[((1+1%)^300-1)/1%]
R=$532.24
Answer:
If the present bus is repaired, the present value of the annual cash operating costs associated with this alternative is calculated as follows;
Answer:
True
Explanation:
If a natural disaster occurs, house insurance can prevent you from further financial loss, as some compensation would be given.
Based on the fact that the legal documents in question are to be used to incorporate the skateboard business, these are<u> Articles of Incorporation. </u>
<h3>What are Articles of Incorporation?</h3>
When a company needs to be created and registered with the government, it will need to supply certain documents that lead to its creation.
These are the Articles of Incorporation which serve as proof that a company has been registered / incorporated in a certain state.
Find out more on Articles of Incorporation at brainly.com/question/1198900.
