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AnnyKZ [126]
3 years ago
6

Beginning three months from now, you want to be able to withdraw $3,200 each quarter from your bank account to cover college exp

enses over the next five years. If the account pays .54 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next five years?\
Business
1 answer:
Wittaler [7]3 years ago
4 0

Answer:

The answer is: You need to have $65,510.55 in your bank today

Explanation:

You need to withdraw 20 payments (5 years x 4 quarters per year)

Each payment is $3,200

Discount interest is 0.54%

So the present value of the cash flow is: PV = $60,510.55

The best way to calculate the PV is to use an excel spreadsheet and the NPV formula:

  • =PV(0.54%,L1:L20) where L1 to L20 all equal 3,200

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Marlene has been living in her $120,000 home for 31 years. Because she has paid off the mortgage, she decides to save some money
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Marlene will receive $5,000 in the insurance settlement.

<h3>What is an insurance settlement?</h3>

An insurance settlement is an indemnity or compensation that the insurance company pays to the insured to settle an insurance claim according to the insurance policy guidelines.

<h3>Data and Calculations:</h3>

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1 year ago
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.)
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Answer: Cost of Goods sold

Explanation:

Common size analysis refers to making all entries in the income statement, a percentage of sales for that year.

Current Year                                                      Prior Year

Sales                                      100%                           100%

Cost of Goods sold               75.7%                          46.5%

Gross Profit                            24.3%                          53.5%

Operating expenses             17.3%                             35%

Net Income                              7.0%                            18.5%

<em>Looking at the percentages above, one can see that the COGS increased the most from the previous year by going from 46.5% to 75.7% representing an increase of 29.2%.</em>

<em>This had the most impact on Net income as it substantially reduced Gross profit. </em>

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