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nataly862011 [7]
3 years ago
14

You're prepared to make monthly payments of $400, beginning at the end of this month, into an account that pays 5 percent intere

st compounded monthly. How many payments will you have made when your account balance reaches $26,182?

Business
1 answer:
Gre4nikov [31]3 years ago
6 0

Answer:

58

Explanation:

In this question we use the NPER function that is shown in the excel spreadsheet

Given that,  

Present value = $0

Future value or Face value = $26,182

PMT = $400

Rate = 5% ÷ 12 months = 0.41666%

The formula is shown below:  

= NPER(RATE,PMT,-PV,FV,type)  

The PMT come in negative  

So, after solving this,  the number of payments is 58

     

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Multiple Choice

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for fannie mae, appraisals of manufactured homes in a condominium project are to be reported on the form and modular homes are t
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You work for an airline that is expanding its service overseas and hiring several thousand new employees from the countries that
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Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first pr
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Answer:

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Question: which are the physical units in the beginning work in process inventory?

Explanation:

The beginning WIP and the started and completed untis will be the total transferred units.

<u><em>We first, solve for the start and completed: </em></u>

Unit Stated                     25,200

Ending WIP(incomplete)<u>  2,000   </u>

start and complete        23,200

<em><u>Now, we solve for the WIP: </u></em>

<em><u /></em>

Transferred units      24,000

start and complete<u>  (23,200)  </u>

beginning WIP                800

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