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Pavel [41]
4 years ago
15

This morning, DJ’s invested $238,000 to help fund a company expansion project planned for three years from now. How much additio

nal money will the firm have three years from now if it can earn 4 percent rather than 3.5 percent on its savings?
Business
1 answer:
rusak2 [61]4 years ago
5 0

Answer:

$3,842.78

Explanation:

We must determine the future value of the money invested and then calculate the difference between both return rates. We can use the future value formula: FV = present value x (1 + return rate)ⁿ

3.5% ⇒ FV = $238,000 x (1 + 3.5%)³ = $238,000 x 1.035³ = $263,874.85

4% ⇒ FV = $238,000 x (1 + 4%)³ = $238,000 x 1.04³ = $267,717.63

difference = $267,717.63 - 263,874.85 = $3,842.78

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Answer: 10 bushels

Explanation:

If they produce 100 barrels of oil using 100 worker hours, it means that the number of work hours taken for 1 barrel is:

= 100 / 100

= 1 work hour

For bushels however, 1 worker hour produces:

= 25 / 100

= 0.25 bushels of corn

If 60 barrels of oil are produced, it means 60 worker hours were used which would leave 40 worker hours.

Bushels of corn produced is therefore:

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3 years ago
At the beginning of this month, the balance of Cody's checking account was $125.26. So far this month, he has received a paychec
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3 years ago
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Russell Co. reports sales revenue of $30,600 and interest revenue of $5,600. Its comparative balance sheet shows that accounts r
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Cash provided by operating activities $39,650

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3 years ago
Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $1,160 with his state income tax r
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$7,580

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