A requirement that customers receive a receipt is an example of:

Khái niệm sản phẩm dịch vụ ngành Tài chính – ngân hàng

umka2103 [35]

What? I don’t understand sorry

3 0

3 years ago

Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $3,000 in the bank and leave it there: (Do not ro

____ [38]

Answer:

Interest= $90

Explanation:

Giving the following information:

Initial investment= $3,000

i= 3%

Number of periods= 1

<u>First, we need to calculate the future value, using the following formula:</u>

FV= PV*(1+i)^n

FV= 3,000*1.03= $3,090

<u>Now, the interest earned:</u>

Interest= 3,090 - 3,000

Interest= $90

8 0

3 years ago

On January 1, a company purchased a five-year insurance policy for $3,300 with coverage starting immediately. If the purchase wa

marissa [1.9K]

Answer:

a. Debit Insurance Expense. $660, credit Prepaid Insurance, $660.

Explanation:

The adjusting entry is shown below:

Insurance expense Dr $660 ($3,300 ÷ 5 years)

To Prepaid insurance

(Being the insurance expense is recorded)

here we debited the insurance expense as it increased the expense and credited the prepaid insurance as it decreased the assets

Therefore the option a is correct

7 0

3 years ago

The Z−90 project being considered by Steppingstone Incorporated (SI) has an up-front cost of $250,000. The project's subsequent

LekaFEV [45]

Answer:

The right solution is Option a (-$6,678).

Explanation:

Given that:

Up-front cost,

= $250,000

Expected cash flows,

= $110,000

Assuming cost of capital,

= 12%

Now,

The expected net present value will be:

= $250000+0.5\times (110000+25000)\times \frac{1}{12 \ percent}\times (1-\frac{1}{1.12^5} )$

= $250000+0.5\times (135000)\times \frac{1}{12 \ percent}\times (1-\frac{1}{1.12^5} )$

= $-6,678$ ($)

5 0

3 years ago

Time to reach a financial goal You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the e

andrew11 [14]

Answer:

It take to reach your goal is 11 years

Explanation:

given data

initial fixed amount = $42,180.53

deposit additional = $5,000

account totals = $250,000

expect to earn r = 12%

solution

we will apply Future value of annuity that is express as

Future value of annuity = initial fixed amount × $(1+r)^{t}$ + deposit additional × $\frac{(1+r)^t-1}{r}$ ......................a

put here value and we get

$250,000 = 42,180.53 \times (1+0.12)^{t} + 5,000 \times \frac{(1+0.12)^t-1}{0.12}$

solve it we get

time t = 11

so it take to reach your goal is 11 years

6 0

3 years ago

A requirement that customers receive a receipt is an example​ of:

A requirement that customers receive a receipt is an example of: