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pochemuha
3 years ago
5

Bill O’Brien would like to take his wife, Mary, on a trip three years from now to Europe to celebrate their 40th anniversary. He

has just received a $20,000 inheritance from an uncle and intends to invest it for the trip. Bill estimates the trip will cost $26,600. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What interest rate, compounded annually, must Bill earn to accumulate enough to pay for the trip? (Round your interest rate to the nearest whole percentage.)
Business
1 answer:
Maurinko [17]3 years ago
8 0

Answer:

10%

Explanation:

Use future value formula

Future Value =  Present Value ((1+r)^n)

26,600 =  20,000 ((1+r)^3

26,600/20,000 = (1+r)^3

1.33 = (1+r)^3

1.33^1/3 = 1+r

1.0997 = 1+r

1.0997 - 1 = r

r = 0.997 = 9.97% = 10% (rounded of to the nearest whole percentage)

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puteri [66]

Answer: True

Explanation:

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Captured combatants were regularly assimilated to replace the dead loved ones and no lands were claimed.

This changed after they met the Europeans and they gradually began to seize land and establish trade centres.

3 0
3 years ago
1. The Statute of Frauds prevents the enforcement of a(n) ______ contract, which is a contract in which the parties have not ___
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Answer:

The correct answers in order are:

Executory  

Fulfilled their obligations  

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Explanation:

The Statute of Frauds prevents the enforcement of an executory contract, which is a contract in which the parties have not fulfilled their obligations. These contracts are not illegal.

4 0
3 years ago
The following information is available for Crane Company: Sales $480000 Total fixed expenses $150000 Cost of goods sold 290000 T
r-ruslan [8.4K]

Answer:

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Explanation:

CVP income statement

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total variable cost          ($260000)

contribution margin       $220000

total fixed expenses      ($150000)

operating income            $70000

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6 0
3 years ago
the gross sales for store B were 876500. the custmer returns and allowances were 10%. what was the dollar amount of returns and
Marina CMI [18]

Answer:

$87,650

Explanation:

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= Gross sales for store B × customer returns and allowances percentage

= $876,500 × 10%

= $87,650

By multiplying the gross sales with the customer returns and allowances percentage we can get the dollar amount with respect to the returns and allowances and the same is to be considered

7 0
4 years ago
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5 0
3 years ago
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