The future value of the annual amounts after six years, earning an annual rate of return of 3% is $517.47
What is the future value of an ordinary annuity of $80 per year for six years earning a rate of 3% annually?
Note that the $80 that would have been paid for the video projection system would be invested at the end of each year, in other words, we would invest an equal amount every year for six years, hence, the future value formula of an ordinary annuity is the most appropriate to determine the value of the savings after six years
FV=annual savings*(1+r)^N-1/r
annual savings=$80
r=rate of return=3%
N=number of annual savings for 6 years=6
FV=$80*(1+3%)^6-1/3%
FV=$80*(1.03)^6-1/0.03
FV=$80*(1.194052296529-1)/0.03
FV=$80*0.194052296529/0.03
FV=$517.47
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Answer:
a. The account Receivable Turnover is 27 times
b. 13.52 days approximately
Explanation:
1. Account Receivable Turnover = Net sales / Average Account Receivables
Account Receivable Turnover = $1,182,600 / $43,800
Account Receivable Turnover = 27 times
The account Receivable Turnover is 27 times
2. Number of days' sales in receivables days = (Average Account Receivables * 365 days) / Net sales
=(43,800 * 365) / 1,182,600
=13.5185
=13.52 days approximately
I don’t understand this please explain it differently please
Pretty sure it's false because there is some competition between electric and gas companies.