Answer:
Amount per month (A) = $200 + $0.50 x $200 = $300
Interest rate (r) = 8.25% = 0.0825
Number of years (n) = 30 years
No of compounding periods in a year (m) = 12
Future value = ?
FV = A(1 + r/m)nm - 1)
r/m
FV = $300(1 + 0.0825/12)30x12 - 1)
0.0825/12
FV = $300(1 + 0.006875)360 - 1)
0.006875
FV = $300(1.006875)360 - 1)
0.006875
FV = $300 x 1,568.218999
FV = $470,465.70
The correct answer is D
Explanation:
In this case, there is need to apply the formula for future value of an ordinary annuity on the ground that compounding is done monthly. In the formula, monthly deposit (A) is $300, number of years is 30 years and interest rate (r) is divided by 12 because compounding is done on monthly basis. The number of years is also multiplied by the number of times interest is compounded in a year.
First and last I just took the test
Answer:
happy birthday
Explanation:
happy birthday to you wish I m
With the price increase in tutoring from $5 to $15, producer surplus increases by <u>$10</u>.
<h3>What is producer surplus?</h3>
Producer surplus is the additional benefit that the tutors receive. It can be computed by determining the difference between old tutoring price, $5, and the new market price of $15. The implication is that while tutors are willing to accept $5, the new marketing price has made it possible for them to increase their surplus by $10 ($15 - $5).
Thus, the producer surplus increases by $10 to show the increased benefit that suppliers receive for selling their services in the marketplace.
Learn more about producer surplus at brainly.com/question/7622454
Answer:
$93,500
Explanation:
Given that,
Purchased new equipment for cash = $80,000
Transportation costs = $2,000
Sales tax paid = $7,000
Installation cost = $4,500
Cost of equipment:
= Cash purchase price + Transportation cost + Sales tax paid + Installation cost
= $80,000 + $2,000 + $7,000 + $4,500
= $93,500
Therefore, the cost recorded for the equipment was $93,500.
