Answer:
Seashells were better than corn.
Explanation:
I think shells were the better choice. They were also used as ornaments. The shells were very easy to use and durable. Payments were made using shells. The shells are considered as the oldest form of currency and they originated in ancient China.
It helped in a growing trade. Shells were the part of commodity money.Sea shells were used as a whole or partial. Shells were used either in the shape of beads or artificially shaped.
Answer:
The Cash paid to suppliers was $85,000
Explanation:
Data provided in the question:
Cost of goods sold = $100,000
Decrease in inventory = $5,000
Increase in accounts payable = $10,000
Now,
Cash paid to suppliers will be
= Cost of goods sold - Decrease in inventory - Increase in accounts payable
= $100,000 - $5,000 - $10,000
= $85,000
Hence,
The Cash paid to suppliers was $85,000
Answer:
The correct answer is A. $18,276
Explanation:
First you have to calculate how much you'd end up having at the end of the 25 years period in your savings account.
You calculate the total amount saved for each year, using the formula:
Where
is the total amount in the savings account for this period.
is the total amount in the savings account from the previous period.
is the interest rate.
are the annual deposits being made into the savings account.
Therefore for the first year you'd do:
For the second year:
And so on. You can help yourself calculate the value of this series using programs like Excel.
I have attached an Excel file that has a table with the savings values for each of the 25 years.
So, the 25th year you’ll have $365,529.70 in your savings account. Now you simply divide this number by 20 (that will be the number of years you’ll be withdrawing the same dollar amount from your savings account):
In conclusion, you’d be able to withdraw $18,276.485 each year for the following 20 years after the 25th deposit, if all withdrawals are the same dollar amount.
Answer:
a) = $10,896.71
b) = $11,768.45
Explanation:
The question is divided into 2 parts
Part a) Amount in the account today
The formula to use is as follows:
FV of Annuity= P(1+r)∧n - 1)/r
P= Periodic Payment = $450
r= Rate of each period= 8%
n= the number of periods= 14
The account today is as follows:
FV = 450 x (1+0.08)∧14-1]/0.08
= $10,896.71
Part b) The formula to use is as follows:
FV = Future value = (1+r) * P * [ (1+r)n -1] / r
P= Periodic Payment = $450
r= Rate of each period= 8%
n= the number of periods= 14
= Fv= (1+0.08) * 450 * [ (1+0.08)^14 - 1] / 0.08
= $11,768.45
Answer:
$6,000
Explanation:
Purchase price = $75,000
Remaining life = 75 months
The amortization amount for each month (Am) is given by the total purchase price divided by the remaining life of the copyright.
Since the purchase was made in July, there are 6 months left in the current year. Therefore, Jorge's total amortization amount during the current year is:
