Answer:
$788.35
Explanation:
For computing the fair present value we need to apply the present value formula which is to be shown in the attachment below:
Given that,
Future value = $1,000
Rate of interest = 14% ÷ 4 = 3.5%
NPER = 4 years × 4 = 16 years
PMT = $1,000 × 7% ÷ 4 = $17.5
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after applying the formula, the fair present value is $788.35
Answer:
A current asset is any asset that will provide an economic value for or within one year. Premises, or the property where business is done, is a part of the property, plants, and equipment, or PP&E, account. All PP&E has a useful life longer than one year, premises included, so it is considered a non-current asset.
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Answer: Credit card statistics are a compilation of various usages of credit cards and debt ratio of consumers.
Explanation:
Every year, there is a new set of credit card statistics released to the public. These stats are based on credit card usage, age, debt ratio, credit worthiness, state and many other things.
In 2020, there were several companies who released credit card statistics such as credit card companies and even law firms. Included in these stats are the states with the highest credit card debt and the lowest credit card debt.
Here is a small list of things that are included on the stats;
- Credit Card Debt by Income Level
- Chart: Credit Card Debt by Generation
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Chart: Credit Card Debt by Age
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Credit Card Debt by State
- States With the Lowest Average Credit Card Debt
- States with the Highest Average Credit Card Debt