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Kazeer [188]
3 years ago
8

Omar's current annual salary is $75,000. How much will he need to earn 20 years from now to retain his present purchasing power

if the rate of inflation over that period is 3%/year? Assume that inflation is continuously compounded. (Round your answer to the nearest cent.)
Business
1 answer:
Alexus [3.1K]3 years ago
8 0

Answer:

amount = $136658.91

Explanation:

given data

current annual salary =  $75,000

time = 20 years

rate = 3%  = 0.03

to find out

amount

solution

we will apply here amount formula for continuously compounded that is express as

amount = Principal × e^{rt}   .......................1

put here value we get

amount = $75,000 × e^{0.03*20}

amount = $75,000 × 1.822

amount = $136658.91

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The balance in Accounts Receivable at the beginning of the year amounted to $1,920. During the year, $7,160 of credit sales were
babunello [35]

Answer:

$7,360

Explanation:

To determine the amount of cash inflow from customers open a Total Receivable Account and determine the Cash Balance.

Total Receivable T - Account

<u><em>Debit :</em></u>

Beginning Balance                                           $1,920

Credit Sales                                                       $7,160

Total                                                                  $9,080

<u><em>Credit :</em></u>

Uncollectable expense                                      $500

Cash Received (Balancing figure)                   $7,360

Ending  Balance                                                $1,220

Total                                                                  $9,080

Conclusion :

the amount of cash inflow from customers is $7,360

3 0
3 years ago
Why is mobile banking considered riskier than online banking?
anyanavicka [17]
Mobile banking describes financial transactions done remotely using a mobile device such as a smartphone or tablet.<span>
Mobile banking is considered riskier than online banking because of the following facts:
</span><span>Mobile devices are more likely to have malware loaded on them. (</span>Malware specifically targeting mobile devices has become a very real and prominent threat).
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7 0
3 years ago
Read 2 more answers
The top managers of Highbrow Bookstores want to indicate to the firm's shareholders how effectively they have managed the compan
kondaur [170]

Answer:

profitability ratio

Explanation:

The most meaningful way to do this would be by reporting strong profitability ratios. These are standard ratios that are used by corporations to try to evaluate the overall financial condition of a corporation or other organization. Reporting a strong profitability ratio would show the shareholders of the company that under the direct guidance of the top managers the Highbrow Bookstores have become much more profitable in comparison to previous financial quarters.

5 0
3 years ago
The concept of demand is best described as the quantity of a good or a service that people will offer for sale at different poss
Igoryamba

Answer:

the quantity of a good or a service that people are willing and able to purchase at different possible prices.

Explanation:

The demand concept would be refer to the various quantity amount in which the people are willing and able to buy at various prices so the demand concept deals with the goods or service quantity in which the purchaser would purchase at various prices that can be possible

Hence, the above represent the answer

7 0
3 years ago
A $5 tax levied on the buyers of pants will cause the_______
otez555 [7]

Answer:

Option c. the demand curve for pants to shift down by $5.

Explanation:

Option C is the correct answer because tax levied on the buyer will increase the price of pants. Thus, as per the law of demand or law of demand states that there is an opposite relationship between the price of commodity and quantity demanded. The levied tax on the buyer will induce the buyer to demand less. Consequently, the demand curve shift downward.

4 0
3 years ago
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