During its first year of operations, a company granted employees vacation privileges and pension rights estimated at a cost of $
1 answer:
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Answer:
I have to invest $11364.
Explanation:
The formula of Compound Interest is:
where A = Amount
P = Principle
r = rate
n = Number of Compounding per year
t = total number of year
Here, A = 15000, r = 5.75% = 0.0575, n = 4(quarterly), and t = 5.
Putting all these values in above formula:
⇒
⇒
⇒
⇒ P = 11364
Hence, I have to invest $11364 for 5 years.
Answer: Budgeted Raw Material to be consumed in July.
Quantity Price per pound Total
10,200 $6 $61,200
Explanation:
As for the information provided, the material at month end in hand shall be:
20% of upcoming month's sale.
If in June at month end, the inventory in hand = 2,040 pounds of raw material.
Then, this represents 20% of total requirement of July.
Therefore, total requirement in July =
This basically means:
Total inventory required =
Quantity Price per pound Total
10,200 $6 $61,200