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Sav [38]
3 years ago
6

Stowell earns 20% interest compounded annually on his savings. He will deposit $1,500 today, $1,650 one year from today, and $1,

820 two years from today. What will be the account balance three years from today? (Round intermediate calculations to nearest four decimals.)
Business
1 answer:
lisov135 [29]3 years ago
7 0

The account balance will be $7,152 three years from now.

Explanation:

The annual interest is 20%. The formula to calculate compound interest is

A = P × (1 + (r/n))^tn where A is the amount after adding the compound interest, P is the interest, r is the interest %, n is number of compounds per year and tn is the years to be calculated but since the interest is compounded yearly and we check the balance every year we get that the n and rn equal to 1 so we get that A = P (1 +r)^1

So for the beginning of the first year where principal is $1,500,

A = $1,500 (1 + 0.20) = $1,500 (1.20) = $1,800.

For the beginning of the second year, the current balance is $1,800 and another $1,650 is added so prinicipal P is equal to $1,800 + $1,650 = $3,450,

A = $3,450 (1 + 0.20) = $3,450 (1.20) = $4,140.

For the start of the third year, current balance is $4,140 and $1,820 is added so principal is $4,140 + $1,820 = $5,960,

A = $5,490 (1 + 0.20) = $5,490 (1.20) = $7,152.

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konstantin123 [22]

Answer:

The patent should be reported at $302,400 on the December 31, 2020, balance sheet.

Explanation:

Remaining useful life in month of patent on January 1, 2020 = 8 * 12 = 96 months

Remaining useful life in month of patent on December 1, 2020 = 96 - 11 = 85 months

Amortization of book value of patent in 2020 = (Patent Book value / Remaining useful life in month of patent on January 1, 2020) * 12  = ($201,600 / 96) * 12 = $25,200

Amortization of legal cost in 2020 = (Legal cost / Remaining useful life in month of patent on December 1,, 2020) * 1  = ($127,500 / 85) * 1 = $1,500

Carrying amount of patent = Patent Book value + Legal cost = $201,600 + $127,500 = $329,100

Patent book value on December 31, 2020 = Carrying amount of patent - Amortization of book value of patent in 2020 - Amortization of legal cost in 2020 = $329,100 - $25,200 - $1,500 = $302,400

Therefore, the patent should be reported at $302,400 on the December 31, 2020, balance sheet.

8 0
3 years ago
Prime Company began operations in January, 2019, by issuing 5,700 shares of 9%, cumulative, $65 par value preferred stock and 25
8090 [49]

Answer:

Preference dividend = 9% x $65 x 5,700 shares

                                = $33,345

Dividend paid to ordinary shareholders = $50,000 - $33,345

                                                                 = $16,655

Explanation:

The dividend paid to preferred stockholders is 9% of the par value multiplied by number of preferred stock outstanding. The dividend paid to common stockholders is the difference between total dividend paid and dividend paid to preferred stock holders.

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2 years ago
I'm 16, and i'm trying to job shadow a cop in Indianapolis, Indiana. And I don't have much any idea on how to start, any though?
Angelina_Jolie [31]
Start with a resume and if you have any previous jobs should be listed to your interviewer (things such as lawn mowing or babysitting counts). If here is a department of labor in your area then you should contact them and they will help you find a job ( It's part of their job to help people find a job anyways).
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77julia77 [94]

Answer:

A License

Explanation:

Riley obtains permission from Saga Company to use the firm's game app on Riley's smartphone, tablet, and other mobile device. But Riley does not obtain ownership rights in the app. This is  a license. When any organization gives its rights to another firm under this type of contract, the ownership rights always remain with the parent company and licensee can't have ownership rights in any way, they can use only the name and products of that parent company to the customers, but ownership held with the parent company. For example, when Burger King and Pizza Hut gives the right to make and sell their products all over the world, the ownership rights are always reserved with the Burger King and Pizza Hut.

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In considering channels and logistics, what is the definition of intermodal transportation? Group of answer choices Combining tw
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Answer:

Inter-modal transportation: Combining two or more modes of transportation

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Logistics is the movement and coordination of resources such as food, liquids, materials, inventory, people and equipment from one location (origin) to another (destination). Intermodal transportation is used in logistics to transport a shipment from the shipper to the consignee. There are 3 methods of transportation:

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When any resource is transported by use of any two or more of these modes, it is known as intermodal transportation. For example, a container of clothing might be transported from Tokyo, Japan to New York, USA.

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Japan factory to Japan Harbor: Train

Japan Harbor to USA Harbor: Ship

USA Harbor to warehouse in USA: Flight

Warehouse to shopping mall: Truck

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