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torisob [31]
3 years ago
11

John wishes to set up an account for his grandfather so that he can have some extra money each month. John wants his grandfather

to be able to withdraw $120 per month for the next 3 years. How much must John invest today at 5% per year compounded monthly so that his grandfather can withdraw $120 per month for the next 3 years?
Business
1 answer:
jeka943 years ago
6 0

Answer:

John must invest $3719.4

Explanation:

It is given that John grandfather withdraws $120 per month for 3 year

So total month = 12 ×3 =36 months

Total amount withdrawn S = 36×120 = 4320

m = 12 times per year

Rate of interest i = 5 % = 0.05

We know that S=P(1+\frac{i}{m})^{mt}

4320=P(1+\frac{0.05}{12})^{36}

4320=P\times 1.1614

P = $3719.41

So john must invest $3719.4

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Yuliya22 [10]

Answer:

Check the explanation

Explanation:

Calculate august cash disbursement for manufacturing budget :

 August

Direct labour hour                                                          8000

Variable overhead per hour                                            1.40

Variable manufacturing overhead                                11200

Fixed manufacturing overhead                                   100540

Total manufacturing overhead                                    111740

Less : Depreciation                                                       -8810

Cash disbursement for manufacturing overhead    102930

3 0
3 years ago
what are the two factors that go into which item is thought of as bought first, etc., when choosing between several possible pur
ANTONII [103]

Answer:

Fifo

Explanation:

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8 0
2 years ago
Exercise 177 Kirk Company issued a $3,500,000, 10%, 10-year mortgage note payable to finance the construction of a building at D
denis-greek [22]

Answer:

The annual installment payment consists of both interest payments and principal repayment.

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a.

Date                  Account Titles and Explanation        Debit                 Credit

Dec, 31 2020   Cash                                                   $569,609

                         Mortgage Payment                                                    $569,609

Date                  Account Titles and Explanation           Debit             Credit

Dec, 31 2021     Interest Expense                                $350,000

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                           Cash                                                                             $569,609

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In the movie contract, which side was the more successful negotiator? Can you think of any terms that either party left out? Are
Sergio039 [100]

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All the decisions should be made in a good faith by the artist and  producer. If the provisions were stated at the time of negotiation by both the parties.

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