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nataly862011 [7]
2 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]2 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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Answer: Demand Schedule

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WHICH OF THE FOLLOWING WILL CAUSE NO CHANGE IN PRODUCER SURPLUS? A) IMPOSITION OF A NON BINDING PRICE CEILING IN THE MARKET. B)
Svetllana [295]
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2 years ago
A company with 100,000 authorized shares of $7 par common stock issued 46,000 shares at $16. Subsequently, the company declared
liq [111]

Answer:

$27,600

Explanation:

Amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend:

= Shares issued * Percentage of stock dividend * Market price

= 46,000 shares * 2% * $30

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4 0
3 years ago
A new manufacturing machine is expected to cost $278,000, have an eight-year life, and a $30,000 salvage value. The machine will
oksano4ka [1.4K]

Answer:

C) 4.2 years

Explanation:

The computation of the payback period is as follows;

As we know that

Payback Period = Initial cost ÷ Annual net cash flow

Here

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= $31,000

Annual net cash flow is

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So,

Payback Period is

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3 years ago
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