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leva [86]
3 years ago
12

Mary makes monthly deposits of $450 at the end of each month over 25 consecutive years to support her retirement. If the account

earns an interest rate of 7.5%, which amount comes closest to the value of the deposits at the end?
a. $120,938
b. $343,343
c. $382,667
d. $394,767
e. $367,100

Business
1 answer:
Arte-miy333 [17]3 years ago
8 0

Answer:

d. $394,767

Explanation:

For computing the amount of deposit at the end we need to apply the future value formula i.e to be shown in the attachment

Given that,  

Present value = $0

Rate of interest = 7.5% ÷ 12 months = 0.625%

NPER = 25 years × 12 months = 300 months  

PMT = $450

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $394,767

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On January 1, 2018, Jacob Inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. The truc
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Answer:

The amount of loss should Jacob Inc. record on December 31, 2019 is $38,000

Explanation:

Truck Value =  $48,000

Annual depreciation =   ( $48,000 -   $8,000) / 8 = $40,000 / 8= $5,000

First year (2018) = $40,000 - $5,000 =  $35,000

Second year (2019) = $35,000 - $5,000 =  $30,000

Loss  = Truck Value (actual) + estimated residual value=  $30,000 + $8,000 = $38,000

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3 years ago
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Alenkinab [10]

Answer:

structurally unemployed.

Explanation:

Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;

1. Cyclical unemployment rate (CU).

2. Frictional unemployment rate (FU).

3. Structural unemployment rate (SU).

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This ultimately implies that, it describes a situation where an individual isn't able to secure a job as a result of insufficient number of jobs matching their qualifications, thus limiting their opportunities.

In this scenario, Monica Smith was unemployed because the steel company, where she worked, closed and moved overseas to a foreign country. Other steel companies have also closed. Her skills are not transferable to another industry and she is unable to get a job.

Hence, she would be classified as structurally unemployed.

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