His checking account will cost $96 each year.
Calculation: First off, we find out how much he spends in a year regardless, so $3 x 12 = $36 each year. Next, we find out how much he is charged based on his withdraws and checks by adding his monthly checks to his monthly ATM withdrawals to get $13. Then we subtract $13 by $8 to get $5 because he has to pay $1 per transaction after 8 free transactions each month. Now that we have his additional monthly spending, we multiply the additional $5 by 12 to get $60 per year. Finally, we add the yearly base fee of $36 to the additional yearly fee of $60 to get: $96 each year.
Answer:
B
Explanation:
The modified internal rate of return is a capital budgeting method used to determine the profitability of an investment. The MIRR assumes that cash inflows are reinvested at the firm's cost of capital and outflows are financed at the firm's financing cost.
MIRR = (Future value of a firm's cash inflow / present value of the firm's cash outflow)^ (1/n) - 1
n = number of years
present value of the firm's cash outflow = $200,000
Future value of a firm's cash inflow
Future value of year 1's cash flow = 50,000 x (1.12^3) = $70,246.40
Future value of year 2's cash flow = 50,000 x (1.12^2) = $62,720
Future value of year 3's cash flow = 80,000 x (1.12^1) = $89.600
Future value of year 1's cash flow = $100,000
Add the future values together = $322566.40
($322566.40 / $200,000)^0.25 - 1 = 12.7%
Answer:
Statement of Net Assets or statement of financial position.
Explanation:
Statement of net assets shows the permanently restricted, temporarily restricted, and unrestricted funds. This is represented into he equity section.
A template for the creation of statement of financial position is provided by the IRS form 990.
Unrestricted assets are donations to the organisation that can be used for general expenses.
Temporarily restricted assets are set aside for a particular project by donors
Permanently restricted assets are those that are invested in perpetuity, and the revenue earned is used for a specific purpose.
