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mel-nik [20]
3 years ago
6

An ATM with a service fee of $3 is used by a person 200 times in a year. What would be the future value in 5 years (use a 2 perc

ent rate) of the annual amount paid in ATM fees? Use
Business
2 answers:
Ierofanga [76]3 years ago
7 0

Complete question:

An ATM with a service fee of $3 is used by a person 200 times in a year. What would be the future value in 5 years (use a 2 percent rate) of the annual amount paid in ATM fees? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)

Answer:

The future value of the annual amount paid in ATM fees is $662.40

Explanation:

FV = PV(1+i)^T

Where;

FV is the future value of the annual amount paid in ATM fees

PV is the present value of the annual amount paid in ATM fees

i is the interest rate

T is the time.

Given;

PV = $3 × 200 = $600

i = 2% = 0.02

T = 5 years

FV = 600(1+0.02)^5\\\\FV = 600(1.104)\\\\FV = 662.40

FV = $662.40

Therefore, the future value of the annual amount paid in ATM fees is $662.40

Eddi Din [679]3 years ago
6 0

Answer:

The future value in 5 years is $3,184.87  

Explanation:

The figure is arrived by calculating the future of the yearly total service of $600($3*200) by using applicable annuity factor for each of the years from year 1 to 5.

The annuity factor for each year is calculated as (1+r)^n, where r is the rate of return of 2% and the n the year in which the service fee relates to.

Kindly find attached for detailed computations.

Download xlsx
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Mila [183]

Answer:

C) tender.

Explanation:

In contract law, a tender offer to perform is conditioned to the moment when the other party is willing and ready to perform as well. In this case, CrossCountry signed a contract, but the contract will be valid when the other party (Discount Outlet Stores) needs their services. If the other party does not require their services, CrossCountry is not able to perform nor demand performance.

6 0
2 years ago
Burton Corp. is growing quickly. Dividends are expected to grow at a rate of 29 percent for the next three years, with the growt
maw [93]

Answer:

The Current share price is $94.79

Explanation:

Dividend Growth Model determines the share price of a company which offers perpetual dividend with stable growth. It is the expected dividend of a share divided by the net return rate of growth rate .

According to given data

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Growth rates:

For 3 years = 29% per year

After 3 years = 7.3% in perpetuity

Dividend after 3 years = D3 = 3.40 x ( 1 + 0.29 )^3 = $7.30

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4 0
3 years ago
Karen made a commission of $3522.75 on the sale of a property. Splitter commission clear with her broker which is 50% to the bro
Mademuasel [1]

<u>Answer:</u>

<em>$50,325 is the sale price of the property</em>

<u>Explanation:</u>

Karen made a commission of $3522.75 on the sale of a property. Splitter commission clear with her broker which is 50% to the broker and 50% Karen. Broker took 55% of the total commission on a 7% commission rate.

So not considering the commission for a while if we divide commission by the commission rate we will get the sale price.

                                    $3522.75/0.07= $50,325.

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Papessa [141]
Saying that money is indivisible is false. As long as its not a penny, money can be divided down to the last cent
8 0
3 years ago
Read 2 more answers
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Katen [24]

Answer:

The Home owner commenced the action in a state A court ( C )

Explanation:

The Defendant ( the contractor)  can decide to transfer the case from a state court to a federal court within the same state in which the case was filled by the The home owner  if the federal court has the Jurisdiction to rule on the case

Since the contract was signed in state A under the laws of the state the case is definitely a state case and the Homeowner's move to remand the case to a state court with the argument that the Federal court lacks proper Jurisdiction is in order. The court decision on the matter will be based on the fact that the Homeowner commenced the action in a state A court where the contract was signed.

6 0
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