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allsm [11]
3 years ago
7

You want to have $60,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the a

ccount at the end of each year. If the account pays 6.4 percent interest, what amount must you deposit each year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Rufina [12.5K]3 years ago
4 0

Answer:

Annual deposit= $3,474.39

Explanation:

Giving the following information:

You want to have $60,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. The account pays 6.4 percent interest.

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (60,000*0.064)/[(1.064^12)-1]= $3,474.39

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Answer: $88.60

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In negotiating a price for the special order, the minimum acceptable selling price per unit is calculated below:

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7 0
3 years ago
A firm will work with a customer to design the product, and then make it from purchased materials, parts, and components. this f
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A firm will work with a customer to design the product, and then make it from purchased materials, parts, and components. this firm is called <u>a make order firm.</u>

<u />

A firm is a for-profit business, generally formed as a partnership that provides professional services, along with criminal or accounting offerings. The theory of the firm posits that firms exist to maximize profits.  The term firm is synonymous with enterprise or organization. firms can operate beneath several distinct structures, including sole proprietorships and corporations.

In income, commerce, and economics, a customer is a recipient of a good, service, product, or idea - obtained from a seller, vendor, or supplier via a monetary transaction or change for money or some other valuable consideration.

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8 0
2 years ago
As the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units. Are X and Y sub
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Answer: Substitute

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It should be noted that when the price of a good increase, people move to the substitute and this will being about the rise in the quantity demanded of the other good.

Therefore, as the price of good X rises from $10 to $12, the quantity demanded of good Y rises from 100 units to 114 units shows that the are substitutes.

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Monkey See. Monkey Take and<br> Humans vs Chimps
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The company's materials price variance for April was $3,000 Favorable. Its materials quantity variance for April was $5,000 Favo
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Answer:

the  standard price per yard is $6.25

Explanation:

The computation of the standard price per yard is shown below;

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We simply applied the above formula so that the standard price per yield could come

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