First use the formula of the future value of an annuity ordinary to find the yearly payments
Fv=pmt [(1+r)^(n)-1)÷r]
Fv future value 40000
PMT yearly payment?
R interest rate 0.02
N time 8 years
Solve the formula for PMT
PMT=Fv÷[(1+r)^(n)-1)÷r]
PMT=40,000÷(((1+0.02)^(8)−1)
÷(0.02))
=4,660.39
Now use the formula of the present value of an annuity ordinary to find the present value
Pv=pmt [(1-(1+r)^(-n))÷r]
PV present value?
PMT yearly payments 4660.39
R interest rate 0.02
N time 8 years
Pv=4,660.39×((1−(1+0.02)^(−8))÷(0.02))
pv=34,139.60. ....answer
The Board of Supervisors has the overall responsibility for the function of county government. They are the legislative and executive body of county government.
Answer: Yes
Explanation: In the above case, a quasi-contract was formed. This is when a bilateral contract is not in place but one party will enjoy the benefit of the activities of the other party and may be enriched by it.
A bilateral agreement is the exchange of a promise for another and in this case would have been, the promise that Dozier would pay for Paschall’s work. This was not established, however, Dozier will benefit from Paschall’s work unduly if he does not pay for the improvements. The law holds that he has to pay for Paschall’s work to prevent being unjustly enriched.
Answer:
a)True
Explanation:
JITC is an arm of US DoD that have responsibility for testing and certifing information technology products met for military utilization.
Joint Interoperability Test Command (JITC) offices are located at Arizona and Maryland.
JITC were consolidated when Department of Defense moved towards interoperability. The aim was to ensure all military technology can be applied across areas of military, home and abroad.
By 1990, the main trust of JITC activities were directed toward interoperability and information technology.
Answer:
$8,700
Explanation:
According to the accounting principle, the inventory should be valued at lower of cost or market value and the same is presented on the balance sheet.
The purchase value of inventory is $10,000
And, the market value of inventory is $8,700
So, the lower value would be $8,700 and the same is reported on the balance sheet
