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antoniya [11.8K]
2 years ago
15

Time Value of Money: Basics Using the equations and tables in Appendix 25A this chapter, determine the answers to each of the fo

llowing independent situations. Round answers to the nearest whole number. (a) The future value in two years of $3,000 deposited today in a savings account with interest compounded annually at 6 percent.
Business
1 answer:
kow [346]2 years ago
6 0

Answer:

Present value (PV) = $3,000

Interest rate (r) = 6% = 0.06

Number of years (n) = 2 years

Future value (FV) = ?

FV = PV(1 + r)n

FV = $3,000(1 + 0.06)2

FV = $3,000(1.06)2

FV= $3,000 x 1.1236

FV = $3.370.80                                                                                                                                                                                                                                                                                    

Explanation:

In this case, there is need to compound the present value for 2 years at 6% interest per annum. The formula to be applied is the formula for future value of a lump sum (single investment).

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Answer:

                                  Trial Balance

Items                                     Group             Debit ($)    Credit ($)

Cash                                      Asset               37641

Office Supplies                     Asset               890

Prepaid Insurance                Asset               4600  

Office Equipment                 Asset               12900

Accounts Payable                Liability                                12900

Capital                                   Equity                                  18000

Withdrawals                          Equity              3329  

Engineering Fees earned    Revenue                              36000

Rent Expense                        Expense         <u>7540</u>           <u>            </u>

Total                                                               <u>$66900</u>      <u>$66900</u>

6 0
3 years ago
flextime means that the employee has complete control over their work hours and can work anytime of the day or night for as many
xxMikexx [17]

A work arrangement known as "flextime," or "flexible time," gives employees control over when they begin and end their workdays.Flextime gives workers a chance to better manage their time as they strive for a better work-life balance.

Flexible scheduling, also known as flextime, is a type of work schedule that lets employees set their own hours of operation within predetermined parameters. Periodic basis; negotiated the times of start and finish. shortened workweek.

What policy governs flextime?

A schedule known as flex time, flextime, or flexible time allows employees to alter the beginning and end times of their workdays. An employee can adjust their schedule in response to life events like doctor's appointments with flextime. The employer is entirely in charge of flextime.

Learn more flextime here:

brainly.com/question/26614549

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6 0
1 year ago
Jack Spratt is the production manager for a manufacturing firm that produces wizzy-gadgets and other items. The annual demand fo
Assoli18 [71]

Answer:

200 units      

Explanation:

For computing the number of units produced each time we need to applied the economic order quantity formula which is shown below:

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

where,

Annual demand is 1,600 units

Ordering cost per order is $25

And, the carrying cost or holding cost per unit per year is $2

Now placing these values to the above formula

So, the economic order quantity is

= \sqrt{\frac{2\times \text{1,600}\times \text{\$25}}{\text{\$2}}}

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8 0
3 years ago
An integrity-based approach _____. a. helps very little concerning where questionable practices are occurring and where possible
Roman55 [17]

Answer:

The correct answer is letter "C": usually have chief officers, human resource managers, and board member committees involved with the ethics and compliance program.

Explanation:

The integrity-based approach is the practice in which top executives of a company including members of the <em>Board of Directors</em> (BoD) hold the responsibility of the firm's ethical culture and spread it to their employees. This is done to promote good practices among workers and to spot where might be possible ethical issues appearing in the company.

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1 : D

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