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Furkat [3]
3 years ago
9

An engineer invests $5,000 at the end of every year for a 40-year career. If the engineer wants $1 million in savings at retirem

ent, what interest rate must the investment earn
Business
1 answer:
Feliz [49]3 years ago
5 0

Answer: 7%

Explanation:

Given data:

P = $5,000

r = ?

t = 40years

i = $1,000,000

Solution:

NFW = 0 = -$5000 ( F/A , i , 40 ) + $1,000,000

( F/A , i , 40 ) = $1,000,000 / $5,000

= 200

From compound interest table

( F/A , 7% , 40 ) = 199.636

Therefore the return for the investment would be 7%

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Talbot Riding Stables provides stables, care for animals, and grounds for riding and showing horses. The account balances at the
Goshia [24]

Answer:

See answers below in the explanation

Explanation:

Journal Entries :

Journals

<u>Date Account and Explanation Debit Credit </u>

a Accounts receivable             210300  

Service Revenue                                   210300

(Record earned revenue)  

   

Cash                                    62300  

Service Revenue*                                   62300

(Record earned revenue)  

   

   

b  cash                                     199100  

accounts receivable**                            199100

(Record collection Account)  

*$41000+$20500=$62300

**$4400+$210300-$$15600=$199100

   

   

c Supplies                                     62900  

Accounts Payable                                   62900

(record purchase of supplies on credit)  

   

d Supplies                                      7400  

 Cash                                                   7400

(record purchase of supplies  

   

e Wages Payable                     14200  

Cash                                                   14200

Record Payment of previous wages  

   

Wages Expenses                    112000  

Cash                                                    112000

(Record Payment to Employees)  

   

f Income Tax payable            15100  

cash                                                     15100

(Record Payment of Income taxes  

   

g Accounts Payable                      73000  

cash                                                      73000

(record payment of account)  

   

h Interest Expense                      2700  

Interest Payable                                             2700  

Cash***                                                      5400

(Record Payment of Interest)  

   

i No journal entry required  

   

j Property Taxes Expense     17000  

cash                                                       17000

(Record payment of property taxes)  

   

k Dividends                             7200  

Cash                                                       7200

(Record Payment of dividends)  

   

*** $60000*9%=$5400    

   

6 0
3 years ago
You possess a SECRET personnel security clearance and have been assigned to work on Project X. Carlos is your superior and has a
Mice21 [21]

Answer:

No. The classified document should not be shared with Carlos

Explanation:

Based on the information given the classified document should not be shared with Carlos because Carlos is not part of the Project X team and he does not have a "need-to-know" secondlly no one else is supposed to be given automatic access to the Secret document in my possession related to Project X or the classified information solely because the person is my superior or because of the person rank, position or security clearance.

6 0
3 years ago
Hich best explains how the law of demand affects consumers?
Anuta_ua [19.1K]

Answer:

It helps consumers tell producers when prices are too high.

Explanation:

The law of demand affirms that an increase in price results in reduced demand. It means that when prices increase, consumers will buy fewer quantities of a product or service. The law of demand shows the relationship between price and the quantity of a product consumers are willing to buy in the market.

Consumers can communicate with producers through the volume of products purchased. When the quantity purchased is low, producers will know the set prices are high.

8 0
3 years ago
15 pts!! What is the advertising technique of glittering generalities? Describe this technique.
pochemuha

Hope this helps answer your question! :)

8 0
3 years ago
Candice bought a shipment of jeans to sell at her store for $20 each. She'd
rusak2 [61]

Answer:

D. $28

Explanation:

Given the following data;

Cost price = $20

Markup = 40%

To find the selling price;

Markup price = 40/100 * 20

Markup price = 800/100

Markup price = $8

Next, we would add the markup to the cost price;

Selling price = markup price + cost price

Selling price = 8 + 20

Selling price = $28

Therefore, the price of each pair of jeans is $28.

6 0
3 years ago
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