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mars1129 [50]
3 years ago
15

The winner of the first annual Tom Morris Golf Invitational won $115 in the competition which was held in 1901. In 2015, the win

ner received $1,480,000. If the winner's purse continues to increase at the same interest rate, how much will the winner receive in 2052
Business
1 answer:
pickupchik [31]3 years ago
5 0

Answer:

$31,920,341.91

Explanation:

The computation is shown below:

For computing the receiving amount in 2052 first we have to determine the rate which is shown below:

Current value = Initial value × (1 + interest rate)^time period

$1,480,000 = $115 × (1 + interest rate)^114

So, after solving this, the interest rate is 8.654%

Now the received amount in 2052 is

= $1,480,000 × (1 + 0.8654%)^37

= $31,920,341.91

The time period is come from

= 2015 - 1901

= 114

And, the 37 years is come from

= 2052 - 2015

= 37

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Helga [31]

Answer:

prepare an expense record, and make certain that his credit is good so he can continue to spend more than he makes

Explanation:

Since in the question it is mentioned that an individual is recently hired as a financial analyst for a big company he remebered that how he can manage his personal finance and the financial concerns so in order to maintain its approach with respect to his own finance we should suggest that first prepare the record of an expense and also certain about the good credit score so that he is able to spend more

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3 years ago
When you first start out you should expect to make less money than you will later because?
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In the Keynesian-cross model, fiscal policy has a multiplied effect on income because fiscal policy: changes income, which chang
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Answer:

Changes income, which changes consumption, which further changes income

Explanation:

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If Janet decides to wear her favorite red shirt instead of her favorite blue dress, she is making what?
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2 years ago
Read 2 more answers
Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period; 3,000
dlinn [17]

Answer:

Total Cost of Work in Process

$57,854

Total cost of the units

d. $120,060

Total cost of beginning inventory

c. $62,206

Explanation:

Department G has 3,600 units which were 25% completed. The units completed during the period are 11,000.

3,600 * 25% = 900

Units completed 11,000

total units 11,900

Cost per unit is $10.08.

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