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Semenov [28]
2 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]2 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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Suppose during 2014 that Federal Express reported the following information (in millions): net sales of $35,497 and net income o
Lorico [155]

Answer:

Asset turnover 1.42

Return on assets 0.39%

Explanation:

Here, we are asked to calculate the asset turn over and the return on assets.

Mathematically;

Asset turnover = Net sales/Average total assets

Net sales = $35,497

average total assets = (25,633+24,244)/2 = 24938.5

Asset turnover = 35,497/24938.5 = 1.42

The return on assets can also be calculated mathematically.

mathematically, return on assets = Net income/Average total assets

Net income = $98

Average total assets = 24,938.5 from above

= 0.0039 or 0.39%

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Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price
Mashcka [7]

Answer:

d. $4,500

Explanation:

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For computing the depreciation expense on the new equipment first we need to find out the Depreciation per annum which is here below:-

Depreciation per annum = (Cost - Residual value) ÷ Life

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