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3 years ago

What is the future value of an annuity due that pays $550 per year for 18 years? Use an annual interest rate of 8.00%.

Business

1 answer:

OverLord2011 [107]3 years ago

4 0

Answer:

$22,245.44

Explanation:

For computing the future value we need to apply the future value which is to be shown in the attachment below:

Provided that,

Present value = $0

Rate of interest = 8%

NPER = 18 years

PMT = $550

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $22,245.44

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The population of a country has a relative growth rate of 3% per year. The government is trying to reduce the growth rate to 2%.

Murrr4er [49]

Answer:

185,023,041

Explanation:

Given,

The original population of the country, P = 110 million,

Growth rate, r = 2% = 0.02,

Number of years from 2011 to 2037,

Time, t = 26 years,

Hence, the projected population would be,

$A=Pe^{rt}$

$=110e^{0.02\times 26}$

$=110 e^{0.52}$

$=185.023041467\text{ million }$

$=185023041.467$

$\approx 185023041$

8 0

3 years ago

On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules,

marissa [1.9K]

Answer:

Shoemarket Corporation

Journal Entries:

April 1, 2021:

Debit Notes Receivable $490,000

Credit Cash Account $490,000

To record the issue of notes.

December 31, 2021:

Debit Interest on Notes Receivable $36,750

Credit Interest on Notes $36,750

To accrue interest on notes for the year.

April 1, 2022:

Debit Cash Account $539,000

Credit Notes Receivable $490,000

Credit Interest on Notes Receivable $36,750

Credit Interest on Notes $12,250

To record cash collection of the note and interest.

Explanation:

a) The acceptance of notes receivable increases the Notes Receivable account and reduces the Cash Account by $490,000.

b) Due to the accrual concept and the matching principle, on December 31, 2021, interest on notes receivable will be accrued. This is calculated as follows:

Interest for 9 months = $490,000 x 10% x 9/12 = $36,750.

c) On April 1, 2022, when the cash collection of the note and interest is made, the Cash received will total $539,000 ($490,000 + 10% Interest for a year). This is worked as $490,000 x 10% = $49,000. But, already interest for 2021 had been accrued. The difference is now accrued in 2022.

d) The entries required are a debit to the Cash Account $539,000, a credit to Interest on Notes Receivable $36,750, to Interest on Notes $12,250, and Notes Receivable Accounts $490,000 respectively.

3 0

3 years ago

Read 2 more answers

Question 1<br> What is the most important question you should have after seeing this ad about a check cashing business?<br> Why

TEA [102]

The most important question you should have after seeing this ad about a check cashing business is"

Why Choose ACE to Cash Your Check?
No credit check necessary?
Can I get a written copy of all of the fees that you charge for your services?

<h3>Is a check cashing business considered a financial institution?</h3>

A money service business is one that is seen as a kind of a financial institution that is known to be involved with one or a lot of of the following entities such as:

Check casher
Foreign currency dealer, etc.

So, the most important question you should have after seeing this ad about a check cashing business is"

Why Choose ACE to Cash Your Check?
No credit check necessary?
Can I get a written copy of all of the fees that you charge for your services?

Learn more about check cashing business from

brainly.com/question/14017700

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6 0

2 years ago

ammi purchases stock in Vivaldi Corporation. Vivaldi Corporation later encounters legal issues and faces significant legal claim

olga55 [171]

Answer:

Tammi's liability is d. limited to her investment in the stock.

Explanation:

Since Tammi has purchased a stock in a corporation, one of the fundamental property of a corporate is that the stock-holders of the corporation have a limited liability meaning shareholders are only legally responsible for the debts of a company only to the extent of their investment in the company.

So Tammi's liability is limited to her investment in the stock of Vivaldi Corporation.

6 0

3 years ago

Read 2 more answers

Which best describes a central bank’s primary goals?

Pavlova-9 [17]

I think it’s either the last one or the first one sorry if I’m wrong

5 0

3 years ago