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Sophie [7]
3 years ago
11

"Ramon runs the marketing department at his company. His department gets a budget every year, and every year, he must spend the

entire budget without going over. If he spends less than the budget, then his department gets a smaller budget the following year. At the beginning of this year, Ramon got $2.5 million for the annual marketing budget. He must spend the budget such that  2,500,000−x=0.  What property of addition tells us what the value of x must be?"
Business
1 answer:
miss Akunina [59]3 years ago
8 0

Answer:

Property of additive inverse

Explanation:

Given: Ramon got $2.5 million for the annual marketing budget such that he must spend the budget such that  2,500,000-x=0  

To find: property of addition that help us to know what the value of x must be

Solution:

1 million is equal to 1,000,000

So,

2.5\,\,million=2.5(1,000,000)=2,500,000

According to property of additive inverse,

a+(-a)=0

Given equation is 2,500,000-x=0

This equation can be written as 2,500,000+(-x)=0

So,

x=2,500,000

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Answer:

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Explanation:

<u>a. Determine how much you will have saved after 10 years</u>

This is an ordinary annuity question and you are required to find the Future value (FV) at year 10. Using a financial calculator, key in the following inputs;

Total duration of investment; N = 10

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then compute Future value;  CPT FV = 217,298.437

Therefore, in 10 years, you will have saved $217,298.44 which does not meet your goal of half a million dollars.

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With the recurring payment increasing to 17,500 per year and the interest rate remaining at 8%, find the new Future value by keying in the following inputs;

Recurring payment; PMT = - 17,500

Interest rate ; I/Y = 8%

Total duration of investment; N = 10

PV = 0

then compute Future value;  CPT FV = 253,514.843

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<u>c. Determine the amount saved if you deposit $15,000 each year, but with 10 percent interest.</u>

It is still an ordinary annuity question , however, the recurring payment(PMT) will be 15,000 as before but with an annual interest rate(I/Y) of 10%.  Using a financial calculator, key in the following inputs;

Total duration of investment; N = 10

Recurring payment; PMT = -15,000

Interest rate ; I/Y = 10%

PV = 0

then compute Future value;  CPT FV = 239,061.369

Therefore, in 10 years, you will have saved $239,061.37 .

7 0
2 years ago
Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $490,000. In addition to the purchase price, FVI makes the followi
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$555,900

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Answer:

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True or false. Your employer is responsible to make contributions, on your behalf, to the federal insurance contributions
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6 0
2 years ago
You buy a share of The Ludwig Corporation stock for $21.70. You expect it to pay dividends of $1.00, $1.16, and $1.3456 in Years
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Answer:

g = 16%

dividends yield:

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<u></u>

Explanation:

<u>grow rate:</u>

D1 /D0 = g

1.16/1.00 - 1 = 0.16

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