1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mojhsa [17]
3 years ago
9

A problem is listed below. Identify its type. Ted owns a small florist shop. Since his business is booming, his realizes he will

soon need one more delivery van. He decides he will purchase a full size van versus a minivan, which he currently owns. The van he is looking to buy in 2 years will cost him $33,000. How much should he invest each quarter into an account that pays 4% per year compounded quarterly, so that he can have the desired funds in 4 years?
Business
1 answer:
TEA [102]3 years ago
5 0

Answer:

Quarterly deposit=  $1,912.17

Explanation:

Giving the following information:

The van he is looking to buy in costs $33,000.

Interest rae= 4% per year compounded quarterly

Number of years= 4 years

First, we need to calculate the real interest rate:

Interest rate= 0.04/4= 0.01 per quarter

Now, to calculate the quarterly deposit, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (33,000*0.01) / [(1.01^16)-1]

A= $1,912.17

You might be interested in
Longs Drug, a large U.S. drugstore chain operating primarily in Northern California, had sales per share of $122 in 1993, on whi
Vika [28.1K]

Answer:asdfghjkllkjhgfdsasdfghjk

Explanation:

8 0
3 years ago
The following information is provided by Adametz​ Company: WIP​ Inventory, January 1 0 units Units started 7 comma 600 Units com
nikklg [1K]

Answer:

The equivalent units for conversion​ costs= 6,912 units

Explanation:

<em>The weighted average method of valuation would be used to determine the the equivalent units for conversion​ costs</em>

<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked. </em>

Equivalent unit = Degree of completion × Units of inventory

<em>Items                                       units                                    Equivalent unit</em>

Completed   unit                     3,300       3,300× 100 =       3.300

Closing work in progress       4,300        4,300×  84%=      <u>3,612 </u>

Total equivalent units                                                           <u>6,912 </u>

The equivalent units for conversion​ costs= 6,912 units

7 0
3 years ago
Pluto Company owns 100 percent of the capital stock of both Saturn Corporation and Sol Corporation. Saturn purchases merchandise
likoan [24]

Answer:

The amount that should be eliminated from cost of goods sold in the combined income statement for 20X8 is $31,250.

Explanation:

Amount eliminated from cost of goods sold in the combined income statement for year 2008.

saturn purchase merchandise from Venus at 125 % of sol cost.

sol sold inventory to saturn for $ 25,000

Amount should be eliminated from combined income statement

=  $25,000*125/100

= $31,250

Therefore, The amount that should be eliminated from cost of goods sold in the combined income statement for 20X8 is $31,250.

4 0
3 years ago
You are considering acquiring a common stock that you would like to hold for one year. You expect to receive both $1.25 in divid
ANTONII [103]
The answer is A ! Hopefully this help!
6 0
3 years ago
Match the action to the task it helps accomplish. format text is at the very top or bottom of the page increase or decrease the
Sidana [21]

Answer:

<u><em>format text increase or decrease the space around the text on a page </em></u>

<u><em>Explanation:</em></u>

Indeed, when using Word processing software like Microsoft word, it is possible to use the format text tool called line spacing to <em>increase or decrease the space around the text on a page.</em>

For example, in other to make a written text easily readable, a user may use the format text tool to increase or decrease the space around the text on a page.

6 0
3 years ago
Read 2 more answers
Other questions:
  • Financial information is presented below:
    11·1 answer
  • Process costing typically uses only one Work in Process Inventory account, while job order costing typically uses a separate Wor
    9·1 answer
  • Marit Brunsell deposited $80,000 at Bank of America at 12% interest compounded quarterly. What is the effective rate (APY)? (Do
    7·1 answer
  • Because consumers are generally more sensitive to price increases than to price decreases, it is easier to lose current customer
    9·1 answer
  • Suppose that the current issue of The New York Times reports an outbreak of mad cow disease in Nebraska, as well as the discover
    6·1 answer
  • Francina, who just started her first job, had been repaying her luxury sports car loan until she stopped payments two months ago
    14·1 answer
  • The costs of bringing a corporation into existence, including legal fees and promoter fees, are called:
    9·1 answer
  • What term describes the relationship between the flow rate and the capacity of each labor resource that works in a process
    8·1 answer
  • On January 1, 2021, Clark Corporation sold an $800,000, 7% bond issued for $767,320. The bonds are to pay interest quarterly and
    8·1 answer
  • ⦁ Which of the following is a disadvantage of a sole proprietorship?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!