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Ket [755]
3 years ago
9

Raina wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 2.4 % interest , compounded monthly

. Payments will be made at the end of each month. How much money will she need to pay into the annuity each month for the annuity to have a total value of $5000 after 3 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of finandial formulas.
Business
1 answer:
trapecia [35]3 years ago
7 0

Answer:

She need to pay $134 into the annuity each month for the annuity to have a total value of $5000 after 3 years.

Explanation:

Total value of annuity after = $5,000

Interest rate = 2.4% = 0.024 compounded annually

Number of year = 3 years

Future Value of Annuity = P [ ( ( ( 1 + r )^n)-1 ) / r ]

$5,000 = P [ ( ( ( 1 + 0.024/12 )^3x12 )-1 ) / 0.024/12  ]

$5,000 = P [ ( ( ( 1 + 0.002 )^36 )-1 ) / 0.002 ]

$5,000 = P X 37.29

P = $5,000 / 37.29

P = $134.1 = $134

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The standard cost is $5 per lbs

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Explanation:

Volume variance

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: efficiency \: variance

std quantity                   2800.00  (1,400 units times 2 pounds per unit)

actual quantity           3000.00

std cost                                     ??

(2,800-3,000) \times standard \: cost = -1,000

difference                     -200.00

efficiency variance        $(1,000.00)

-200 x Std cost = -1,000

Standard cost = -1,000/-200 = 5

The standard cost is $5 per lbs

each units uses 2 lbs, so the unit stadard cost is $10

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3 years ago
Blossom Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employ
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Answer:

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Question 9 of 10
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The correct option is OA. Selling to another company the right to make and market a product line is called spinning off.

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castortr0y [4]

Answer:

<em>The question option are:</em>

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