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Rashid [163]
2 years ago
15

Your grandfather started his own business 52 years ago. He opened an investment account at the end of his third month of busines

s and contributed $x. Every three months since then, he faithfully saved another $x. His savings account has earned an average rate of 5.73 percent annually. Today, his account is valued at $289,209.11. How much did your grandfather save every three months assuming he saved the same amount each time?
a. $284.02
b. $262.25
c. $331.09
d. $226.78
e. $328.67
Business
1 answer:
Yakvenalex [24]2 years ago
6 0

Answer:

The answer is:D) $226.78

Explanation:

To calculate the amount of money your grandfather deposited every 3 months during 52 years to get $289,209.11 we can use an excel spreadsheet and the payment function =PMT(rate,nper,pv,fv)

where:

  • rate = 5.73% / 4 = 1.4325%
  • nper = 52 x 4 = 208
  • pv = 0
  • fv = 289,209.11

PMT = $226.78

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Answer:

Rationalisation

Explanation:

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In the given instance Jake is accused of stealing food products from the store, he justifies his act by claiming that his monthly pay is not sufficient to support his family of five members.

This is not enough reason to still but he still tries to rationalise his action based on his low salary.

4 0
3 years ago
Crane purchases equipment by signing a note payable with the equipment dealer for $10,000. The accounts affected for Crane are _
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Answer:

Equipment and notes payable

Explanation:

Since the equipment is purchased by signing the note payable which affected the two accounts i.e equipment and the note payable. In this, the cash transaction is not involved, so cash should not be considered

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7 0
3 years ago
Part of the decision to accept additional business should be based on a comparison of the incremental (differential) costs of th
postnew [5]

Answer:

TRUE

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Marginal Cost is addition to total cost due to a business decision.

Marginal Benefit & Marginal Costs are determinants while considering a business decision. A decision will be taken if : Marginal Benefit ≥ Marginal Cost, as entrepreneurial decision maker would be better off or at least neutral while taking decision. If MB < MC , it is loss making for the entrepreneur to take that decision & hence is discouraged to take that.

6 0
3 years ago
Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incu
fenix001 [56]

Answer:

156.6%

Explanation:

Given:

Cosi Company's Incurred over head for the next period = $830,000

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Now,

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on substituting the respective values, we get

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or

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3 years ago
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8 0
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