The number of payments that I would make before the account balance reaches $20,031 is 31 months 15 days
N is the number of monthly payments that would be made before the account balance reaches $20,031.
This formula would be used to determine the value of N
FV = P ( 1 + r)^nm
- FV = future value = $20,031
- P = monthly payments = $465
- r = interest rate = 12%/12 = 1%
- n = number of years
- m = number of compounding = 12
$20,031 = $465 x (1.01)^12n
$20,031 / $465 = (1.01)^12n
43.077419 = (1.01)^12n
Log 43.077419 = Log (1.01)^12n
log 43.077419 / log (1.01) = 12n
1.6342497 / 0.0043214 = 12n
378.17598 = 12n
n = 378.17598 / 12
n = 31.51 months or 31 months 15 days
A similar question was solved here: brainly.com/question/15399735?referrer=searchResults
Answer:
b. Debit Depreciation Expense, $150; Credit Accumulated Depreciation, $150.
Explanation:
The adjusting entry is as follows
Depreciation expense Dr - Equipment
To Accumulated depreciation
(Being the depreciation expense is recorded)
The computation is shown below:
= $1,800 ÷ 12 months
= $150
We simply debited the depreciation expense and credited the accumulated depreciation for $150 so that the proper posting could be done
Answer:
Option D is correct
Explanation:
The company is liable for proper communication of cautions, defective designs and production processes that she uses to manufacture the product but it is not liable for the the consumer unforeseeable misuse of a fan. Because it is not associated with the duty of care. I also have a duty of care to myself like you have to yourself. If I have struck myself with a hammer then it unjustifiable to sue the company. I am misusing that hammer. I don't have the license but still I am driving car, it means I am misusing the asset. This means some operations are restricted by law and some are implicitly restricted.
I agree with the first one cause money is very important u have to use it wisely but you also wanna take it into your own matters it something were to go wrong
Answer:
PV = 1414
Explanation:
The pictures attached below shows the full explanation for the problem and it is so explanatory. i hope it helps you, thank you
