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Sonja [21]
3 years ago
5

Your goal is to have $15,000 in your bank account by the end of four years. If the interest rate remains constant at 4% and you

want to make annual identical deposits. If your deposits were made at the beginning of each year rather than an at the end, by how much would the amount of your deposit change if you still wanted to reach your goal by the end of six years?
Business
1 answer:
zaharov [31]3 years ago
7 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Your goal is to have $15,000 in your bank account by the end of four years. The interest rate remains constant at 4% and you want to make annual identical deposits.

<u>End of the year:</u>

To calculate the annual deposit, we need to use the following formula:

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

A= annual deposit

Isolating A:

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

A= (15,000*0.04) / [(1.04^4) - 1]= $3,532.35

<u>Beginning of the year:</u>

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

A= 3,532.35/ 1.04= $3,396.49

The difference resides in the interest compounded. At the beginning of the year the interest compound for one more period.

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Answers:

F h Garvey

Explanation:

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4 0
2 years ago
which stage in a work-unit activity analysis focuses on the product, information, or service provided?
maria [59]

The stage in a work-unit activity analysis that focuses on the product, information, or service provided is the output phase, This is further explained below.

<h3>What is the output phase?</h3>

Generally, the output phase is simply defined as manufacturing or output in general.

In conclusion, The final deliverable is defined. The method of measuring the output is investigated.

Read more about the output phase,

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4 0
1 year ago
Andy Basil Industries Inc. reported the following information about the production and sale of its only product during the first
grandymaker [24]

Answer:

Cost of Goods Sold = $ 400,000

Explanation:

Units Sold = $360,000/ $225= 1600

Sales ​                                                                  $360,000

Direct materials ​$176,000

Direct labor ​$100,000

Variable factory overhead ​$44,000

Fixed factory overhead ​$80,000

Total Manufacturing Costs   $ 400,000

Variable selling and administrative expenses ​$20,000

Fixed selling and administrative expenses ​$10,000

Cost of Goods Sold = $ 400,000

As ending Inventory Finished Goods is 400 units it is not included in the Cost of Goods Sold.

3 0
3 years ago
Maria, a banking executive, gives a job candidate a detailed interview​ and a walking tour of the facility. By sharing her time
Elis [28]

Answer:

Yes

Explanation:

Maria is giving a non-verbal message for his possible selection for the job by allowing him a tour of the facility and taking a detailed interview.

3 0
3 years ago
On January 1, 2020, HD Corp. paid $60,000 and issued a 5-year noninterest bearing note payable with a face value of $120,000 in
Sunny_sXe [5.5K]

Answer:

The carrying value of the note payable on 12/31/2021 is $95,260

Explanation:

First, we need to calculate the present value of note

Present value of note = Face value / ( 1 + Interest rate )^numbers of years

Where

Face value = $120,000

Interest rate = 8%

Numbers of years = 5 years

Placing vlaues in the formula

Present value of note = $120,000 / ( 1 + 8% )^5

Present value of note = $81,669.98

Present value of note = $81,670

12/31/2020

Interst expense = Present value at issuance x Interest rate = $81,670 x 8% = $6,533.60

Carrying Value = Present value at issuance + Interest for 2020 = $81,670 + $6,533.60 = $88,203.60

12/31/2021

Interst expense = Present value at issuance x Interest rate = $88,203.60 x 8% = $7,056.29

Carrying Value = Present value at issuance + Interest for 2021 = $88,203.60 + $7,056.29 = $95,259.89 = $95,260

Hence, the carrying value of the note payable on 12/31/2021 is $95,260

7 0
2 years ago
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