Answer: $34,502.85
Explanation:
The constant deposits are considered annuities.
The value at the end of 22 years is the future value of the annuity.
Future value of annuity = Annuity * ( (1 + rate)^number of years - 1 ) / rate
= 1,000 * ( ( 1 + 5%) ²² - 1) / 5%
= $38,505.21
Then subtract the future values of the deposits that your grandmother missed.
For the fifth birthday, the future value term will be 22 - 5 = 17 years
For the eleventh, the future value term will be 22 - 11 = 11 years
The amount in the account is:
= 38,505.21 - (1,000 * 1.05¹⁷) + (1,000 * 1.05¹¹)
= $34,502.85
Answer:
$ 701,000
Explanation:
Balance At December 31, 2019 = $878,000
$168,000 will be deducted since these are not due to be received until January 2nd as well as $9,000 will also be deducted
$878,000 - $168,000 - $9,000 = $ 701,000
Answer : Minimum Wage
Explanation: From the scenario analysis the minimum wage should be reduced since its increasing the unemployment rate so that lesser wages would make the youth to work more for their salary.
Answer:
Cash payments:
March $30,300
April $51,660
May $58,490
Explanation:
The following costs amounting to $9,000 should be deducted from the projected expenses per month
A. Insurance costs (it had been prepaid in February)
B. Depreciation (it doesn't involve any cash movement)
C. Property tax (it won't be due for payment until June)
This leaves each month expense as shown in the attached schedule. And based on the 70 : 30 rule, the table reflects the full payment structure.
Answer:
$1,000
Explanation:
The computation of the ending balance of cash is shown below:
Ending balance of cash = Debit balance of cash account + total debited the amount of cash balance - the total credited amount of cash balance
= $400 + $1,500 - $900
= $1,000
Since the cash account has debit balance so it would be added while the credit balance is deducted
