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vagabundo [1.1K]
3 years ago
13

One year ago, Deltona Motor Parts deposited $16,500 in an investment account for the purpose of buying new equipment three years

from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming the account pays 4.5 percent interest?
a. $53,408
b. $55,211
c. $55,997
d. $56,792
e. $57,232
Business
1 answer:
IgorC [24]3 years ago
5 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

One year ago, Deltona Motor Parts deposited $16,500 in an investment account to buy new equipment three years from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today.

To calculate the future value of the investment, we need to use the following formula:

FV= PV*(1+i)^n

First deposit= 16,500*(1.045^4)= 19,676.56

Second deposit= 12,000*(1.045^3)= 13,694

Third deposit= 20,000*(1.045^2)= 21,840.5

Total= $55,211.06

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Explanation:

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3 years ago
Paul Corporation reported net income of $260,000 during the current calendar year. The company had 10,000 common shares outstand
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Answer:

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Basic Earnings per share = Earnings attributable to holders of common stock ÷ Weighted Average Number of Common Stocks

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This is given. It is the Net Income during the current year of $260,000

<u>Step 2 : Calculation of Weighted Average Number of Common Stocks</u>

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3 years ago
The demand curve in a purely competitive industry is _____, while the demand curve to a single firm in that industry is _____. p
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Explanation:

Calculation for the amount that the salaries should be reflected in the analysis

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Salaries=Salaries expense-(Salaries expense*Tax rate)

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3 years ago
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Explanation:

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Therefore, the answer is 0.755

5 0
3 years ago
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