Answer:
d. 38
Explanation:
This is an Annuity Due type of question. You get the hint from the statement "....$5,000 at the <u>beginning</u> of each month," In an Annuity due , the recurring payments occur at the beginning of the period i.e annually, quarterly or (monthly in this case)
So using a financial calculator on "BGN" mode
nominal rate of 18% is the I/Y. However, since it is monthly compounded, convert it to a monthly rate.
I/Y = 18%/12 = 1.5%
PMT; recurring cashflow = -5,000
FV; future value = 250,000
PV ;present value = 0 (note: in annuity, use 0 for the variable not given)
then CPT N = 37.16
Therefore, it will take approximately 38 months
Answer:
Total money = $2,516 (Approx)
Explanation:
Given:
Amount deposit = $400 (For 11 year)
Amount deposit = $600 (For 10 year)
Amount deposit = $800 (For 6 year)
Rate of interset = 4% = 0.04
Find:
Total money.
Computation:
For 11 year
For 10 year
For 6 year
Total money = $615.78 + $888.14 + $1,012.25
Total money = $2,516 (Approx)
Given that a<span>
factory machine was purchased for $375000 on january 1, 2018. it was
estimated that it would have a $75000 salvage value at the end of its
5-year useful life. it was also estimated that the machine would be run
40000 hours in the 5 years. the company ran the machine for 4000 actual
hours in 2018.
If the company uses the units-of-activity method of
depreciation, the amount of depreciation expense for 2018 would be
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They might scam you that’s what some things do