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
mel-nik [20]
4 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]4 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]4 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
You might be interested in
Mikhail's claim has been denied once. Now, he is writing a second persuasive claim message to his digital media services company
Fynjy0 [20]

Answer:

a) Appeal to the receiver's sense of responsibility and pride in the company's good name

Explanation:

Persuasive messages refer to communicating an idea so as to persuade the recipient towards an action.

Such messages are usually drafted by sales and marketing personnel.

While drafting a persuasive message, AIDA (Attention, interest, desire and action) principle is usually followed by the marketers.

In the given case, Mikhail's claim has already been denied once and he is drafting the second persuasive message. As he expects resistance from the media company, he should draw the attention of the recipient towards their own responsibilities and duties and pride relating to the good reputation of the company.

He may choose to express, what the receiver's responsibility and duties are and how non performance of those puts the company's reputation (pride) at stake.

8 0
3 years ago
Most people across the globe have similar access to technology information. Yes or no? Why?
Digiron [165]
False. A great example would be North Korea compared to the United States. In the United States we have the Freedom to Speech so we also have the the opportunity for news and social media where you can post pretty much anything. North Korea on the other hand lacks informing their own people and their own people lacks a stable and healthy government. We don’t know a lot about North Korea and they don’t know anything at all about us or the rest of the world.
8 0
3 years ago
How much was a dozen of eggs in 1980
Korolek [52]

a dozen eggs in 1980 was 84 cents.

3 0
3 years ago
Read 2 more answers
Four years ago, Ship Express purchased a mailing machine at a cost of $218,000. This equipment is currently valued at $97,400 on
deff fn [24]

Answer:

equity = 45,800

Explanation:

working capital:  current assets - current liaiblities = 41,300

net book value of long term assets: 97,400

long term debt 102,800

we will work with the accounting formula to solve for equity:

assets = liaibltiies + equity

we divide assets and liabilities in current and non-current:

current assets + long term assets = current liabilities + long-term debt + equity

we rearrenge the formula in order to sovle for equity:

(currnet asets - current liabilities) + long term assets - long-term debt  = equity

41,300 + 97,400 - 92,900 = equity

equity = 45,800

3 0
3 years ago
Read 2 more answers
An index model regression applied to past monthly returns in Ford’s stock price produces the following estimates, which are beli
Neko [114]

Answer:

(1.32%)

Explanation:

The computation of the abnormal change in Ford’s stock price is shown below:

Given that

rF = 0.1% + 1.1rM

If the market index rises by 10.2%

So, now the equation is

= 0.1% + 1.1 × 10.2%

= 0.1% + 11.22%

= 11.32%

And, the stock price rises by 10%

So, now the abnormal change in Ford stock price is

= 10% - 11.32%

= (1.32%)

7 0
3 years ago
Other questions:
  • Josh has decided to open a restaurant. he has determined that he will need to hire separate people to seat and serve​ customers,
    12·1 answer
  • _________ implies that there are clear links between the performance standards for a particular job and organizational objective
    10·2 answers
  • A survey of businesspeople from Argentina, Brazil, Chile, Columbia, and Venezuela found that the _____ market, on average, was m
    6·1 answer
  • A sunk cost: Requires a current outlay of cash. Is the lost benefit of choosing an alternative course of action. Is irrelevant i
    7·1 answer
  • A former client of charlie hayes, cpa, filed a lawsuit in state court alleging that charlie failed to exercise due care in the p
    11·2 answers
  • In 2020, HD had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 2021, the account bal
    8·1 answer
  • The map above shows air release, or emissions, sites across the United States. These sites include locations such as smokestacks
    11·1 answer
  • Riser Corporation was granted a patent on a product on January 1, 1998. To protect its patent, the corporation purchased on Janu
    5·1 answer
  • Sparkling Water, Inc., expects to sell 3.7 million bottles of drinking water each year in perpetuity. This year each bottle will
    14·1 answer
  • Cascade Company was started on January 1, Year 1, when it acquired $151,000 cash from the owners. During Year 1, the company ear
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!