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Andrei [34K]
3 years ago
9

On January 15, 2020, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2024, at an

estimated cost of $8,000,000. Dolan plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2020. Future value factors are as follows: Dolan should make four annual deposits ofA. $2,000,000 B. $1,567,060 C. $1,723,766. D. 54,967,401
Business
1 answer:
Andreyy893 years ago
6 0

Answer:

Annual deposit (PMT) = $1,567,060.39

Explanation:

Given:

Future value of annuity due = $8,000,000

Rate of interest(r) = 10% = 0.1

Number of year (n) = 4 year

Annual deposit (PMT) = ?

Computation of annual deposit :

Future\ value\ of\ annuity\ due = PMT [\frac{(1+r)^n-1}{r} ](1+r)\\\\8,000,000 = PMT [\frac{(1+0.1)^4-1}{0.1} ](1+0.1)\\\\8,000,000 = PMT [\frac{(1.1)^4-1}{0.1} ](1.1)\\\\8,000,000 = PMT [\frac{(0.4641}{0.1} ](1.1)\\\\8,000,000 = PMT [5.1051]\\PMT = 1,567,060.39

Annual deposit (PMT) = $1,567,060.39

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Andrew [12]

The Federal reserve regulates the banking system. The American government's central bank and monetary authority is known as the Federal Reserve System.

  • A secure, adaptable, and stable monetary and financial system is provided by the Fed for the nation.
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  • Conducting national monetary policy, overseeing and regulating banks, preserving financial stability, and offering banking services are among the Fed's primary responsibilities.
  • The Fed manages the nation's money supply through the Federal Open Market Committee, which also sets monetary policy.
  • The Federal Reserve System's primary regulator of banks that are members is the Fed, which has broad authority to take action to promote financial stability.

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6 0
1 year ago
On May 1, 2017, ABC Company signed a contract to provide 1 year of marketing research services to Anderson Company starting on M
Anna71 [15]

Answer:

Debit          Cash Account                              $12,000

Credit         Unearned Revenues Account    $12,000

Being advance payment for marketing research services by Anderson

Explanation:

Revenue received before it is earned are reported as liability until it is earned, this is consistent with  accrual basis of accounting. when payment for service not yet performed or goods not yet delivered is received, such a payment must not recognized in the period of payment but in the period when that service is preformed or when the goods are delivered.  

The treatment for advance payment of income is a debit to cash or bank and a credit to unearned revenues account or income received in advance account.

6 0
2 years ago
17. Lear is to become a partner in the WS partnership by paying $80,000 in cash to the business. At present, the capital balance
Vedmedyk [2.9K]

Answer:

Please see attachment

Explanation:

Please see attachment

3 0
3 years ago
Another bank is also offering favorable terms, so Rahul decides to take a loan of $14,000 from this bank. He signs the loan cont
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Answer: $14,426.43

Explanation:

At the end of 4 months and assuming a  12 months and 365 days in a year, the formula to be used to calculate how much Rahul owes is;

We use the formula:

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Amount owed = 14,000 * ( 1 + 0.09/365 ) ^ (365 *4/12 )

Amount owed  = $14,426.43

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3 years ago
Coca-Cola implemented enterprise software from Oracle that enabled it to achieve all of the following except: standardizing busi
soldi70 [24.7K]

Coca-Cola implemented enterprise software from Oracle that enabled it to achieve all of the following except reducing the number of employees. Thus the correct answer is D.

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Oracle is a type of software developed as the most flexible and economical method of managing data and applications. Oracle Database created for corporate distributed systems.

The software used in coca-cola enables the organization to improve the business process with the help of standardization. It enables them to respond to market changes that took place immediately and make implementation based on current trends.

It helps them to reduce the cost of raw materials by properly bargaining with the suppliers and bringing material in an economic manner.

Therefore, option D reducing the number of employees is the appropriate option that is excluded by the software.

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