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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

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3 years ago
Sharon Corporation redeems 20 shares of Kevin's common stock. Kevin directly owned 50 shares prior to the redemption. Kevin is a
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75 shares

Explanation:

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3 years ago
What are the practical consequences of a lack of strategic linkage between the business and the operations function? give exampl
Ivenika [448]
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8 0
3 years ago
Nicole works from home full-time for a non-profit organization. She receives work from and sends work to the office via a comput
BartSMP [9]

Answer:

telecommuting

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3 0
3 years ago
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016:
dybincka [34]

Answer:

a. June 30, 2016 adjusting entry for bad debt expense

Dr Bad debt expense 9,108

    Cr Allowance for doubtful accounts 9,108

b. August 15, 2016, uncollectible accounts are written off

Dr Allowance for doubtful accounts 3,251

    Cr Accounts receivable 3,251

c. Allowance for doubtful accounts

                                       debit                       credit

June 30, 2016                                               $38,565

August 15, 2016          <u>$3,251                                       </u>

August 15, 2016                                             $35,314

Explanation:

Number of Days      Total Accounts          Historical %            Total

Unpaid                      Receivable                Uncollectible  

Not yet due                      $128,200               3%                       $3,846

1-30 days past due           $90,900              13%                         $11,817

31-60 days past due         $55,300              19%                       $10,507

<u>Over 60 days past due     $33,500             37%                      $12,395  </u>

Total                                                                                          $38,565

6 0
3 years ago
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