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Semenov [28]
3 years ago
9

Muhammad deposited $800 at the beginning of each quarter for 8 years into an IRA. Given an interest rate of 8% compounded quarte

rly, find the future value
Business
1 answer:
Nastasia [14]3 years ago
8 0

Answer:

$18,775

Explanation:

We can calculate the future value of the investment by using the following formula:

Future Value = P * [1 -   (1+i)^-n]  / i

Here,

P is the periodic payments of $800

n is the number of periodic payments made which is 4 in a year and 32 in 8 years. So n = 32 number of payments.

r is the annual interest rate which is 8%

i is interest earned after on periodic periodic is:

i = Annual interest rate / Number of periodic payments in a year = 8% / 4

= 2%

By putting this value in the equation, we have:

Future Value = $800 * [1-  (1 + 2%)^-32]  / 2%

Future Value = $18,775

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Information technology can be used to support - D. all the choices are correct. All of these choices can benefit from information technology, whether those are product development teams, customer support processes, or any other business activities. Information technology nowadays is a must-have, because basically everything today is done using computers or the Internet, which is why all employees should be technologically-literate. 
6 0
3 years ago
A bank service charge of $10 would be included on the bank reconciliation as a(n):_____.
iris [78.8K]

A bank service fee of $10 would be included on the bank reconciliation as on the last day of the bank statement

<h2>What exactly does a bank reconciliation include?</h2>

Starting with the bank's ending cash balance, adding any deposits that are currently being made up of the company to the bank, subtracting any checks that haven't yet been cleared by the bank, then either adding or subtracting any other items completes the basic process flow for a bank reconciliation.

<h3>A bank reconciliation is what?</h3>

At the conclusion of every month, a business should perform a bank reconciliation, which is that the process of confirming the correctness of both the bank statement and the cash accounts.

The most frequent reasons why the ending bank balance and ending book balance of cash differ.

Learn more about bank reconciliation :

brainly.com/question/15525383

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7 0
1 year ago
Rick Co. had 30 million shares of $1 par common stock outstanding at January 1, 2021. In October 2021, Rick Co.'s Board of Direc
Bond [772]

Answer:

Debit retained earnings for $15.30 million.

Explanation:

As per the data given in the question,

Declaration of common stock dividend indicates no cash payments, only extra shares issued with rate of stock dividend

In this Rick Co. had 30 million shares and Rick Co. declared 1% stock dividend  

which means 30 million × 1% = 0.30 million shares issued

Retained earning = (0.30 million × $51)  

= $15.30 million

To common stock A/c =  (0.30 × $1) = $0.30 million

To capital paid in access A/c = (0.30 million × ($51-$1)) =  $15.00 million

( Being stock dividend was issued at 1% )

Hence, Option (d) Debit retained earning for $15.30 million is correct.

8 0
3 years ago
The annual demand for a product is 15,300 units. The weekly demand is 294 units with a standard deviation of 90 units. The cost
antiseptic1488 [7]

Answer:

Reorder point = (weekly demand * lead time) + (Z * standard deviation * √lead time) = (294 * 10) + (2.326 * 90 * √10) = 2,940 + 661.99 = 3,602 units

Old safety stock = Z * standard deviation * √lead time = 662 units

new safety stock = 331

331 = Z * 90 * √10

Z = 331 / 284.60 = 1.163

Using Normal distribution function, the new confidence interval is 87.76%

3 0
3 years ago
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