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Mrrafil [7]
3 years ago
10

If you received a constant annual rate of return of 7% on an investment of $10,000, how many years will it take before you have

$20,000?5
Business
1 answer:
DaniilM [7]3 years ago
8 0

Answer:

It will take 10 years to have $20,000 on investment of $10,000.

Explanation:

Annual Rate of return = r = 7%

Compounded Value / Future Value = FV = $20,000

Investment Value / Present Value = PV = $10,000

Use Future value formula to solve this question:

Future Value = Present Value x ( 1 + Number of Year )^Number of year

FV = PV x ( 1 + r )^{n}

$20,000 = $10,000 x ( 1 + 0.07 )^{n}

\frac{20,000}{10,000} = ( 1 + 0.07 )^{n}

$2 = 1 .07 ^{n

Log 2 = n log 1.07

0.30 = n x 0.03

n = \frac{0.30}{0.03}

n = 10.00

n = 10 year (rounded off to nearest year )

It will take 10 years to have $20,000 on investment of $10,000.

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3 years ago
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Midyear on July 31st, the Chester Corporation's balance sheet reported:______. Total Liabilities of $51.391 million Total Common
Allisa [31]

Answer:

$72.206 million

Explanation:

To get Chester Corporation's total assets, recall that;

Total liabilities = Total assets - (Retained earning + Total common stock)

Given that;

Total assets = ?

Retained earning = $18.275 million

Total liabilities = $51.391 million

Total common stock = $2.540 million

Total liabilities = Total assets - (Retained earning + Total common stock)

$51.391 = Total assets - ($18.275 + $2.540)

$51.391 = Total assets - $20.815

Total assets = $51.391 + $20.815

Total assets = $72.206

Therefore, Chester Corporation's total asset is $72.206 million.

3 0
3 years ago
As you read through the draft of your message, you consider whether parts of your message should be rearranged to make your poin
soldier1979 [14.2K]

Answer:

The correct answer will be "Editing".

Explanation:

  • Editing seems to be the process where even the letter being written is reconstructed or reconfigured to more efficiently express the letter.
  • Arranging, modifying, as well as assembling a recorded, written, or video content for official completion, commonly by such an individual except for the producer of the content (considered as an editor).

The other options in question aren't relevant to the particular circumstance. So the option available here is just the right one.

3 0
3 years ago
The U.S. government decides that the incomes of dairy farmers should be maintained at a level that allows the traditional family
luda_lava [24]

Answer:

$2.8 billion per year

Explanation:

Currently the amount of surplus milk in the US is really high since the demand per capita for milk has decreased by 40% in the last 50 years. Excess milk is turned into cheese since it doesn't last very long, and the current amount of surplus cheese is 1.4 billion pounds.

If yous need on average 4 pints of milk per pound of hard cheese and 2 pints per pound of soft cheese, that means that the total surplus milk production is between 2.8 and 5.6 billion pints.

If the government is going to purchase that excess milk, then it is going to need at least $2.8 billion per year.

5 0
3 years ago
Micro Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The current year's income state
Alexxx [7]

Answer:

$19,687 million

Explanation:

Income tax expense = Income before income tax expense*Effective tax rate

Income before income tax expense = Income tax expense / Effective tax rate

Income before income tax expense = $2,953 million / 15%

Income before income tax expense = $2,953 million / 0.15

Income before income tax expense = $19,687 million

So, the amount that Micro report as income before income tax expense that year is $19,687 million.

6 0
3 years ago
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