A surf board shop for example. If you lived in a place like Ohio you’re not gonna have very many sales because there’s no ocean or surf parks near by. But if you lived somewhere like California you’re sales would be much better.
Answer:
-0.0246 or -2.46%
Explanation:
The duration 't' of his investment is:
The future value ($10,668,500) of an initial investment ($12,700,500) at a rate 'r' for a period of 7 years is given by:
![10,668,500=12,700,500*(1+r)^7\\1+r=\sqrt[7]{\frac{10,668,500}{12,700,500}}\\1+r=0.9754\\r=-0.0246=-2.46\%](https://tex.z-dn.net/?f=10%2C668%2C500%3D12%2C700%2C500%2A%281%2Br%29%5E7%5C%5C1%2Br%3D%5Csqrt%5B7%5D%7B%5Cfrac%7B10%2C668%2C500%7D%7B12%2C700%2C500%7D%7D%5C%5C1%2Br%3D0.9754%5C%5Cr%3D-0.0246%3D-2.46%5C%25)
His annual rate of return was -0.0246 or -2.46%.
*A negative rate of return means that money was lost in this investment
The depletion expense of the coal mine can b calculated using the following formula:
Depletion expense for the year = (Cost of mine – Salvage value) * (Tons of coal sold in the year / Total Tons Capacity of the mine)
Given information:
Cost of mine = $2,000,000
Salvage value = 0
Tons of coal sold in the year = 220,000 tons
Total Tons Capacity of the mine = 2,000,000 tons
So, Depletion expense for the year = (2,000,000-0)*(220,000/2,000,000) = $220,000
Hence, the Depletion expense for the first year is <u>$220,000</u>
Vanessa Grant is responsible for controlling expenses, but is not responsible for generating revenues. Vanessa Grant is a manager of a(n):
Cost Center
What do you mean cost center?
A cost center is basically a department or function under an organization that do not directly increases profit but still costs the organization money to operate. Cost centers only provide to a company's profitability indirectly, unlike a profit center, which gives to profitability directly through its actions.
What is an example of a cost center?
Instances of cost centers contains the accounting, human resources, IT, maintenance, and research & development departments. A cost center can be assumed at a smaller level than a department. It could contain a particular job position, machine, or assembly line.
Learn more about cost center:
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