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Nitella [24]
3 years ago
12

Richard Miller is saving for an Australian vacation in three years. He estimates that he will need $4,930 to cover his airfare a

nd all other expenses for a week-long holiday in Australia. If he can invest his money in an S&P 500 equity index fund that is expected to earn an average annual return of 10.9 percent over the next three years, how much will he have to save every year if he starts saving at the end of this year? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.)
Business
1 answer:
Bond [772]3 years ago
5 0

Answer:

$1476.71

Explanation:

Formula = pmt(((1+r)^n)-1)/I

I = nominal interest rate

Pmt = dollar amount

r = interest rate

N = number of period

4930 = pmt(((1 +0.109)^3)-1)/0.109

4930 = pmt(1.109^3)-1/0.109

4930 = pmt(1.3639-1)/0.109

4930 = pmt(0.3638/0.109)

4930 = pmt3.3385

Pmt = 4930/3 3385

= $1476.71

Richard miller would have to save $1476.71

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Harold Manufacturing produces denim clothing. This year, it produced 5,290 denim jackets at a manufacturing cost of $42.00 each.
Lerok [7]

Answer:please see answer below

Explanation:

Alternative 1 ----sell told a second hand shop

Incremental revenue=5,290*8= f $42,320

Incremental cost=0

Incremental incomea Revenue -cost =$ 42,320

Alternative 2,---disassembling and sell to recycler

Incremental Revenue=5290*11=58,190

Incremental cost 32,220

Incremental income Revenue-cost=58190-32220=$ 25,990

Alternative 3 Reworking to sell at normal price

Incremental revenue =45*2950= 132, 750

Incremental cost=102,500

Incremental income=132,750-102,500= $ 30250

Incremental income for the three alternatives is given as

Ist alternative to sell to second hand shop= $ 42,320

2nd alternative to dissemble and sell to recycler= $ 25,990

3rd alternatively rework to sell at regular price= $ 30,250

5 0
3 years ago
Read 2 more answers
Our company originally issued 1,000 shares of $1 par value common stock for $9 per share. We repurchased 200 shares of the stock
cestrela7 [59]

Answer:

D.cahs $18,000

Explanation:

cash $18,000

3 0
3 years ago
Using the previous budget as a starting point and making adjustments to the funds allocated to each expense category is the budg
Oxana [17]

Using the previous budget as a starting point and making adjustments to the funds allocated to each expense category is the budgeting approach known as incremental budgeting.

<h3>What is incremental budgeting?</h3>
  • The concept behind incremental budgeting is that the easiest way to create a new budget is to just make minor adjustments to the one that is already in place.
  • In other words, incremental budgeting involves starting with the present budget and adding or subtracting incremental assumptions to arrive at new budget numbers. In terms of budgeting techniques, incremental budgeting is frequently regarded as the most conservative strategy.
  • Entrepreneurship is extremely dangerous, but it can also be very rewarding because it contributes to economic growth, innovation, and wealth.
  • For entrepreneurs, securing money is essential: SBA loans and crowdsourcing are two forms of finance.
  • The manner business owners file their taxes and pay them will depend on the organizational structure of their company.

To know more about incremental budgeting with the given link

brainly.com/question/14271949

#SPJ4

6 0
2 years ago
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of
ss7ja [257]

Answer:

$30.00 per labor - hour

Explanation:

Computation of the company's predetermined overhead rate for the recently completed year.

First step is to calculate the Variable manufacturing overhead using this formula

Variable manufacturing overhead = Variable manufacturing overhead per labor hour * Budgted labor hours

Let plug in the formula

Variable manufacturing overhead=$11 * 61,000

Variable manufacturing overhead=$671,000

Second step is to calculate Total estimated overhead cost using this formula

Total estimated overhead cost = Variable manufacturing overhead + Fixed manufacturing overhead

Let plug in the formula

Total estimated overhead cost=$671,000 + $1,159,000

Total estimated overhead cost=$1,830,000

Now let calculate the Predetermined overhead rate using this formula

Predetermined overhead rate = Total Estimated overhead cost / Estimated labor hours

Let plug in the formula

Predetermined overhead rate=$1,830,000 / 61,000

Predetermined overhead rate=$30.00 per labor - hour

Therefore the company's predetermined overhead rate for the recently completed year will be $30.00 per labor - hour

4 0
3 years ago
Tom operates an illegal drug-running operation and incurred the following expenses: Salaries $ 75,000 Illegal kickbacks 20,000 B
AleksandrR [38]

Answer:

B) $160,000

Explanation:

The computation of the amount that reduced the taxable income is shown below:

Here Cost of goods sold of $160,000 would be treated as a negative item in determining gross income instead allowed as a deduction.  

And, For a drug dealer, all other deductions would be disallowed

So the option B is correct

7 0
2 years ago
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