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3 years ago

Megan Brink is offered the possibility of investing $6,651 today at 6% interest per year in a desire to accumulate $10,000.

Business

1 answer:

lapo4ka [179]3 years ago

5 0

Answer:

7 years.

Explanation:

We know,

Future value = Present Value × $(1 + i)^{n}$

Given,

Future Value, FV = $10,000

Present Value, PV = $6,651

Interest rate, i = 6% = 0.06

We have to determine how many years to acquire $10,000 in the future.

Now, $10,000 = $6,651 × $(1 + 0.06)^{n}$

or, $(10,000 ÷ 6,651) = $1.06^{n}$

or, 1.5035 = $1.06^{n}$

or, Log 1.5035 = n log 1.06

Using the calculator to find the value of log.

0.1771 = n × 0.0253

or, n = 0.1771 ÷ 0.0253

or, n = 7 years

7 years will be needed to acquire $10,000 in the future.

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The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern

Dahasolnce [82]

Answer:

Income Statement for Swing Hard Incorporated for the month ended February 28.

Sales $20,935

Less Expenses

Wages ($2,600)

Electricity ($1,420)

Net Income / (Loss) $16,915

Net profit margin = 80.8%

Explanation:

Income Statement for Swing Hard Incorporated for the month ended February 28.

Sales ($20,600 + $155 + $180) $20,935

Less Expenses

Wages ($2,600)

Electricity ($1,420)

Net Income / (Loss) $16,915

Company's net profit margin

Net profit margin = net profit / sales × 100

= $16,915 / $20,935 × 100

= 80.8%

Note

The Income Statement is always prepared on accrual basis of accounting meaning Revenues and Expenses must the recorded when they occur or incur not as when they are paid.

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3 years ago

The Total Debt to Total Capital ratio is an effective type of debt management ratio because it gives an idea of:______

Vaselesa [24]

Answer:

c. how the firm has financed its assets as well as the firm’s ability to repay its long-term debt.

Explanation:

The Total Debt to Total Capital ratio is also known as the Debt to Equity Ratio. This ratio shows how much foreign money is used by the Company. Also important, it reveal the firms ability to repay its long term debt.

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3 years ago

In the 1950s, imports and exports of goods and services constituted roughly 4% to 5% of U.S. GDP. In recent years, exports have

barxatty [35]

Answer:

a) An increasing number of import quotas

b) Better high-speed rail lines

c) Improvements in telecommunications

d) International trade agreements such as the General Agreement on Tariffs and Trade (GATT)

Explanation:

All of the above applies as in order to increase the international trade.

As with the increase in quotas there is a pressure to increase the imports. Further when there is easy chain of supply even in the international market that is railway facility is smooth and that the telecommunications is also easy.

Further, with increased trade agreements there is provision of reduced tariffs and taxes and accordingly the international exchange is not complicated and is rather smooth.

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3 years ago

Cavy Company estimates that total factory overhead costs will be $660,000 for the year. Direct labor hours are estimated to be 1

Kitty [74]

Answer:

A...=$6.6; B=$3,696 and $5,280

Explanation:

A. To calculate the predetermined factory overhead rate,

Given

overhead costs = $660,000

Direct labor hours = 100,000.

overhead rate = overhead cost/labor hours

= $660,000/100000

=$6.6

B. To calculate the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 560 and Job 777 if the amount of direct labor hours is 800

Given

Job 345 direct labor hours is 560

Job 777 direct labor hours is 800

Therefore

Factory overhead for job 345 = direct labor hours × predetermined factory overhead rate

= 560hours × $6.6

=$3,696

Factory overhead for job 777 = direct labor hours × predetermined factory overhead rate

= 800hours × $6.6

=$5,280

C. Journal entry for April

Add the overheads the two current jobs

$3,696 + $5,280= $8,976

Now record $8,976 in debit column against current work

record $8,976 in credit column against factory overhead

Account debit credit

1. current work $8,976

2. factory overhead $8,976

8 0

3 years ago

Read 2 more answers

Assuming no change in government spending, an decrease in taxes of $80 billion with an mpc of 0.50 will add a total of $________

Scilla [17]

Assuming no change in government spending, a decrease in taxes of $80 billion with an mpc of 0.50 will add a total of $ 400 billion to the economy after the multiplier effect.

The economy is defined as the management of financial matters in communities, businesses, or families. An example of an economy is the US stock exchange system.

A standard definition of the economy might describe economics as a social science focused on meeting needs and desires through the allocation of scarce resources with alternative uses. Going further, we can say that economy is the study of scarcity and choice. The economy is defined as the management of financial matters in communities, businesses, or families. An example of an economy is the US stock exchange system.

Learn more about the economy here: brainly.com/question/1106682

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2 years ago