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ella [17]
3 years ago
10

Your cousin is currently 9 years old. She will be going to college in 9 years. Your aunt and uncle would like to have $ 100 comm

a 000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.5 % per​ year, how much money do they need to put into the account today to ensure that they will have $ 100 comma 000 in 9 ​years?
Business
1 answer:
yawa3891 [41]3 years ago
7 0

Answer:

They need to put into the account a total of $67,290 to ensure that they will have $ 100,000 in 9 ​years.

Explanation:

We have to calculate the present value of the sum needed in 9 years ($100,000), with a annual fixed interest rate of 4.5%.

This can be calculated as:

PV=FV/(1+i)^n\\\\PV=100,000/(1.045)^9\\\\PV=100,000/1.486\\\\PV=67,290

They need to put into the account a total of $67,290 to ensure that they will have $ 100,000 in 9 ​years.

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Explanation:

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2. "A company's net income appears directly on the income statement and the owner's equity statement, and it is included indirec
tamaranim1 [39]

Answer:

Yes, I do agree with the statement

Explanation:

The statement which is stating that the company net income  as well as the statement of the owner's equity both are included or shown indirectly in the company balance sheet . As balance sheet is that statement which tells the financial position or performance of the company at a specific time period.

Because the net income is the outcome of income statement and directly shown or stated in the income statement whereas owner's equity is the capital of the business which is shown in the balance sheet. Net income is already included in retained earnings which means shown indirectly in the balance sheet.

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2 years ago
On September 3, 2021, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows:
GREYUIT [131]

Based on the information given the appropriate journal entries to record the exchange for both Robers and Phifer are:

Robers entries

Debit Equipment (new) $77,000  

Debit Accumulated Depreciation $111 000  

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Credit Equipment  $190,000

Credit Gain on Sale $17,000

($77,000+$111,000+$19,000-$190,000)

Phifer's entries

Debit Equipment(new) $96,000  

Debit Accumulated depreciation $119,000  

Debit Loss on Sale $14,000

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Credit Cash  $19,000

Learn more about journal entries here:brainly.com/question/24696035

4 0
2 years ago
Income elasticity measures the:____.
larisa [96]

Answer:

C. Responsiveness of quantity demanded to a percentage change in income.

Explanation:

Income elasticity is defined as the responsiveness of the quantity of a good demanded by an individual as his income changes, all other factors being constant.

Mathematically it is calculated as percentage change in quantity demanded divided by percentage change in income.

Income elasticity is used to find out if a good is a necessity or a luxury good.

The demand for goods that are a necessity does not change with a change in income.

However demand for a luxury good increases as income increases and vice versa

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The general message of the full disclosure principle is that: a. information is symmetric. b. information is costly to fake. c.
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This is because the full disclosure principle state that all information should be documented in a company or individual financial statements which are believed to affect a reader's knowledge of that specific financial statement.

This ensures that every party that needs to access the financial statements under concern should fully understand them without missing any form of information.

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6 0
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