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mihalych1998 [28]
3 years ago
12

Samuel's Dad is looking to deposit a sum of money immediately into an account that pays an annual interest rate of 9.00% so that

his first-year college tuition costs are provided for. Currently, the average college tuition cost is $12,000 and is expected to increase by 3.00% per year (the average inflation rate). Samuel just turned 3 and is expected to start college when he turns 18. How much money will Samuel's Dad have to deposit into the account
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
5 0

Answer: $5,132.66

Explanation:

If the current tuition costs are $12,000 but increasing at a rate of 3% every year, the cost of tuition in first year when Samuel will be 18 is;

= 12,000 * ( 1 + r) ^ n

= 12,000 * (1 + 3%) ^ (18 - 3)

= $18,695.61

Assuming that the account will pay 9% per year on an investment now, Samuels's Dad will have to pay the present value of the tuition fee discounted at 9%.

= 18,695.61 / ( 1 + 9%) ^ 15

= $5,132.66

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For an automobile company, the total overhead applied was $48,000,000 at the end of the year. Actual overhead was $52,850,000. C
ICE Princess25 [194]

Answer:

Net income decreased by $4,850,000.

Explanation:

Given total overhead applied = $48000000

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Over/under Applied overhead = total overhead applied - Actual overhead at the end of the year.

Over / under Applied overhead = 48000000-52850000

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4 0
3 years ago
Why is it necessary for us to have knowledge and professional education? show the relationship between education and professiona
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5 0
3 years ago
Accounting Equation
baherus [9]

,Answer:

  • a. $420,000
  • b. $473,000

Explanation:

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529,000 = Equity + 127,000

Equity = 529,000 - 127,000

= $402,000

b. Stockholders' equity in 2018:

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8 0
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Laney is a resident of Maine. Delacorte is a Canadian. They dispute the ownership of Petite Isle, an island in North Rapids Rive
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Answer:

a. federal jurisdiction

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According to my research on different case jurisdictions, I can say that based on the information provided within the question the diversity of the parties’ citizenship could serve as a basis for federal jurisdiction. This can be said because the federal jurisdiction is handled by federal courts which usually handle cases in which the United States of America is one of the parties involved in the case, like in this situation.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
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