1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna11 [10]
3 years ago
8

Imagine that you are a parent, and your child is going to college in 4 years. Tuition fees amount to $16,000 a year for each of

the 4 years. You plan on depositing a lump sum of money today in a bank account paying 5% interest a year, so that you can make these annual tuition fee payments. The first tuition fee payment you make will be 4 years from now. Calculate how much is the lump sum of money you need to deposit now in order to fund these annual tuition fee payments._________(round your answer to the nearest integer, e.g. enter 12345 if your answer is 12,345.2; enter 12346 if your answer is 12,345.7)
Business
1 answer:
LiRa [457]3 years ago
7 0

Answer:

lump sum money= $52653

Explanation:

Giving the following information:

Your child is going to college in 4 years.

Tuition fees amount to $16,000 a year for each of the 4 years.

You plan on depositing a lump sum of money today in a bank account paying 5% interest a year.

The first tuition fee payment you make will be 4 years from now.

FV= 16000*4= $64000

n= 4 years

i= 0.05

We need to find the annual payments:

PV= FV/(1+i)^n

PV= 64000/1.05^4= $52653

You might be interested in
Harrelson Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials a
riadik2000 [5.3K]

Solution:

Instructions Journalize the April transactions:

Date                           Account Titles and Explanation

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

                                                     Raw Materials Inventory

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

                                                              Factory Labor

4/30                             Work in Process—Cooking

                                   Work in Process—Canning

                                                  Manufacturing Overhead

4/30                             Work in Process—Canning

                                    Work in Process—Cooking

Cooking and out the debits

Debit                               Credit          

22,800

10,900                             33,700      

9,400

7,230                              16,630

33,800

28,100                            61,900

55,900                          

                                      55,900

6 0
3 years ago
Identify a true statement about International Organization for Standardization (ISO) 9000:2000.
NNADVOKAT [17]

Answer: The correct answer is "D. Its standards apply to all types of businesses, including electronics and chemicals.".

Explanation: The ISO 9000 standards are a set of Quality Control and quality management, established by the International Organization for Standardization (ISO). They can be applied in any type of organization or activity oriented to the production of goods or services. The standards include both the minimum content and the specific implementation guides and tools as well as the audit methods.

7 0
4 years ago
Last year mike bought 100 shares of dallas corporation common stock for $53 per share. during the year he received dividends of
Ronch [10]
Last year mike bought 100 shares of Dallas corporation common stock for = $53 per share
he received this year dividends of = $1.45 per share
stock is currently selling for = $60 per share
rate of return = ?
capital yield %= (60 - 53 / 53) x 100 = 0.132  x 100 = 13.2%
dividend yield % = (1.45 / 53) x 100 = 0.0273 x 100 = 2.73%
Total yield or rate of return will be = 13.2 + 2.73 = 15.94 %
7 0
3 years ago
Frankâ Pianki, the manager of an organic yogurt processing plant desires a quality specification with a mean of 18.0 âounces, an
aleksley [76]

Answer: 0.050

Explanation:

Mean = 18

USL = 18.6

LSL = 17.4

SD = 1.25

Cpk = Min{(mean - LSL / 3*sd), (USL - mean / 3*sd)}

= Min{ ( 18 - 17.4/ 3 * 1.25), (18.6 - 18 / 3 * 1.25)}

= Min { 0.05 0.05)

Cpk = 0.050

8 0
3 years ago
It would be acceptable to have the selling price of a product just above the variable costs and expenses of making and selling i
Gnoma [55]

Answer:

B.both the short run and long run.

8 0
3 years ago
Read 2 more answers
Other questions:
  • The unauthorized manufacture of any controlled substance, its distribution by sale or possession of such substance with intent t
    10·1 answer
  • Based on the description of Elm City​ Market's selection method for new​ employees, its best recruiting source would likely be​
    8·1 answer
  • A raffle has a grand prize of a European cruise valued at $15000 with a second prize of a weekend in San Diego valued at $1500.
    9·1 answer
  • Black Friday, the day after Thanksgiving, is the largest shopping day of the year. Do the early shoppers, who often wait in line
    12·2 answers
  • Soundgarden Company sold 200 color laser copiers on July 10, 2020, for $4,000 apiece, together with a 1-year warranty. Maintenan
    5·2 answers
  • In many developing countries, poor farmers plow up marginal land in order to survive. The resulting soil erosion and land degrad
    7·1 answer
  • No More Pencils, Inc., disburses checks every two weeks that average $87,000 and take six days to clear. How much interest can t
    13·1 answer
  • Three major areas of concern when providing financial information to the larger investing community are language, currency, and
    5·1 answer
  • Find the next year's net income for XYZ Inc. Next year, the sales grow by 25%. The current sales $300 million, and the current p
    13·1 answer
  • Stacy wants to teach 3rd graders in a public school she just finished her bachelor's degree in education what is he required to
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!