1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
NeX [460]
3 years ago
14

If you can invest $200,000 at a 10.5% annual rate, compounded monthly, how long will it take to have $500,000? (Do not your inte

rmediate calculations. Round your final answer to the nearest whole month.)
Business
1 answer:
Naddika [18.5K]3 years ago
4 0

Answer:

Explanation:

Use Future value formula for the calculation of number of years

Future Value = Present value ( 1 + interest rate )^number of years

FV = PV ( 1 + r )^n

$500,000 = $200,000 ( 1 + 10.5% )^n

$500,000 / $200,000 = ( 1 + 0.105 )^n

2.5 = ( 1.105 )^n

log 2.5 = n log 1.105

n = log 2.5 / log 1.105

n = 9.1771

n = 9 years 2 months

You might be interested in
Bethany Walsh is a business manager at Dixon Productions. Although she does not have a background in technology, her job require
blagie [28]

Answer:

The correct answer is A. Dashboard .

Explanation:

A board contains all the information necessary to carry out the decision-making process in the best way, since in the case of Bethany, who is not very expert in technology, it allows her to execute her work efficiently and without risks of not taking into account information. relevant. This information can be modified at any time depending on the circumstances.

5 0
3 years ago
Read 2 more answers
Before the year began, Mitchell Manufacturing estimated that manufacturing overhead for the year would be $175,500 and that 13,0
masya89 [10]

Answer:

B, 195750

Explanation:

Let's first figure out the manufacturing overhead per direct labor hour

175500/13000= 13.5

So we allocate 13.5 in manufacturing overhead per direct labor hour

Let's the mulitply this by the number of actual direct labor hours

14500*13.5=195750

6 0
3 years ago
Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $540,000, and factory payro
vovangra [49]

Answer:

See below

Explanation:

Marcelino Co's total cost of each production incurred in April

From March

Job306 Job307 job308

Direct materials $28,000 $39,000

Direct labor $23,000 $17,000

Applied overhead $11,500 $8,500

(50% of direct labor)

Beginning goods in process $52,500 $64,500 ---

For April:

Direct materials $139,000 $220,000 $110,000

Direct labor $103,000 $153,000 $104,000

Applied overhead $51,500 $76,500 $52,000

(50% of direct labor)

Total cost added in April $293,500 $449,500 $266,000

Total costs(April 30) $346,000

$514,000 $266,000

3 0
3 years ago
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 36,100
salantis [7]

Answer:

1) Direct materials=$43070

2)Direct labor=$126300

3)Manufacture overhead=$117600

4)Total manufacturing cost=$286970

5)Prime cost=$169370

6)Conversion costs = 126300+117600= $243900

7)Total period cost= $418670

Explanation:

The company reported the following costs for 2018:

1) Direct materials

Thread 1,020

Premium quality cotton material 41,300

Buttons 750

Total= $43070

2)Direct labor

Wages paid to seamstresses 76,200

Wages paid to cutters 50,100

Total= $126300

3) Manufacture overhead

Factory rent $ 36,100

Utilities for factory 24,600

Cutting room supervisor's salary 31,300

Factory insurance 19,100

Depreciation on sewing machines 6,500

Total= $117600

Notice that marketing, Depreciation on salespersons' vehicles and president's salary are not part of manufacturing overhead.

4)Total manufacturing cost=$43070+126300+117600=$286970

5)Prime cost= direct material + direct labor=43070+126300=$169370

6)Conversion costs = Direct labor + Manufacturing overhead= 126300+117600= $243900

7)Total period cost= manufacturing cost + Company advertising + Depreciation on salespersons' vehicles + President’s salary

Total period cost= 286970 + 24200 + 30600 + 76900= $418670

7 0
3 years ago
Which of the following account groups are temporary accounts?
victus00 [196]

Answer: d. Rent Revenue, Fees Earned, Miscellaneous Expense

Explanation:

Temporary accounts are also referred to as nominal accounts and they are the accounts that are closed when the year ends and began afresh the following accounting period and they basically relates to fees, expenses and gains.

From the options above, the answer will be option D "Rent Revenue, Fees Earned, Miscellaneous Expense"

8 0
3 years ago
Read 2 more answers
Other questions:
  • Elliott Credit Corp. wants to earn an effective annual return (EAR or EAIR) on its consumer loans of 17.1 percent per year. The
    15·1 answer
  • The jewels that a jewelry maker uses for his necklaces are becoming harder to find. Because of this he has to raise the price of
    10·1 answer
  • Situation 22-4 Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $200,000 in total revenues and paid $1
    12·1 answer
  • Jared is a retail store employee. He is responsible for ensuring that the inventory requested from the manufacturer arrives as o
    14·1 answer
  • Hector has a favorite Mexican fast food restaurant he likes to go to for chicken burritos. He will drive ten miles to the locati
    14·1 answer
  • 1. The Department of Justice filed a lawsuit against Microsoft claiming it was engaging in unfair practices by​ ____________.
    7·1 answer
  • What is the monopolist's profit under the following conditions? The profit-maximizing price charged for goods produced is $12. T
    14·1 answer
  • You’re the purchasing manager for a large trucking company, worried about a spike in oil prices come January 15 when you typical
    8·1 answer
  • A service business may have some additional operating expenses like rent, insurance, commissions, and so on. Most of these expen
    9·2 answers
  • when an estimated model begins to describe the quirks of the data rather than the real relationships between variables, this is
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!