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Nuetrik [128]
4 years ago
10

Brenda plans to reduce her spending by $50 a month. What would be the future value of this reduced spending over the next 10 yea

rs? (Assume an annual deposit to her savings account and an annual interest rate of 3 percent.) Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)
Business
1 answer:
Tamiku [17]4 years ago
4 0

Answer:

$6987.07

Explanation:

Since the Brenda will be saving $50 every month for the period of 10 years, therefore, the future value of annuity formula will be applicable for the purpose of calculation of future value.

Future value=R[((1+i)^n)-1/i]

Here R= monthly amount to be saved =$50

i=interest rate=3/12=0.25%

n=number of payments=10*12=120

Future value=50[((1+0.25%)^120)-1/0.25%]=$6987.07

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On April 1, the company retained an attorney for a flat monthly fee of $2,000. Payment for April legal services was made by the
olga55 [171]

Answer:

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April 30   Salaries expenses                             $4,800

                 ($12,000/5) * 2

                        Salaries payable                                         $4,800

                  (To record the Accrual of salaries expense)

May 30      Salaries Expenses

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                   Salaries payable                              $4,800

                           Cash                                                           $12,000

                    (To record the payment of salaries expenses)

6 0
3 years ago
Which margin size is most appropriate for a business card?
yan [13]
3.5 inches because the normal business card is 3.5 in × 2 in 
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4 years ago
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Based in Fairmont, WV, the Internet Fraud Complaint Center is run by the FBI and the National White Collar Crime Center with the
9966 [12]

The Internet Fraud Complaint Center, run by the FBI and the National White Collar Crime Center, indeed analyzes fraud-related complaints.

<h3>What is the Internet-Fraud Complaint Center?</h3>

The Internet-Fraud Complaint Center, based in Fairmont, WV, handles the following internet-related complaints:

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Thus, the Internet-Fraud Complaint Center is run by the FBI and the National White Collar Crime Center to analyze fraud-related complaints.

Learn more about the Internet Frauds at brainly.com/question/3422329

5 0
2 years ago
The graph below represents the low-wage labor market demand curve for a U.S. city; there is also a line (MinWg) showing a $12 ho
alexandr402 [8]

The new ordinance will make a difference when the new wages will be binding.

<h3>How to depict the information?</h3>

It should be noted that the supply curve shows the relationship between the price and the quantity supplied.

Based on the information given, when the equilibrium wage is above the minimum wage, the ordinance won't make a difference.

On the other hand, when the equilibrium wage is below the minimum wage, it'll make a difference for the worker.

Therefore, joining the lowest of the two points will give the equilibrium.

Learn more about supply curve on:

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7 0
2 years ago
The existence of under- or overapplied overhead at the end of the year: a. requires a retroactive adjustment to the cost of all
Ilya [14]

Answer:

Option "C" is the correct answer to the following question.

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Cost of goods sold includes all types of expenses related to a product.  

Any type of expenses during the year can be adjusted in the cost of goods sold for that product.  underdeveloped or overdeveloped overhead can also be adjusted in the cost of goods sold for the particular year.

so the correct answer to the given statement is the Cost of Goods sold.

5 0
3 years ago
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