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
emmainna [20.7K]
3 years ago
11

You are considering investing in a European bank account that pays a nominal annual rate of 18%, compounded monthly.

Business
1 answer:
kumpel [21]3 years ago
6 0

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

You might be interested in
Required information Exercise 6-9A Record transactions using a perpetual system (LO6-5) Skip to question [The following informat
Korolek [52]

Answer:

Littleton Books

Journal Entries:

May 2 Debit Inventory $3,300

          Credit Accounts Payable (Readers Wholesale) $3,300

To record the purchase of books on account, terms, 1/10, n/30.

May 3 Debit Freight-in $200

          Credit Cash Account $200

To record the payment of freight costs for books purchased from Readers.

May 5 Debit Accounts Payable (Readers Wholesale) $400

          Credit Inventory $400

To record the return of books.

May 10 Debit Accounts Payable (Readers Wholesale) $2,900

            Credit Cash Discount Received $29

            Credit Cash Account $2,871

To record the settlement of account.

May 30 Debit Accounts Receivable $4,000

            Credit Sales Revenue $4,000

To record the sale of books on account.

May 30 Debit Cost of goods sold $2,900

            Credit Inventory $2,900

To record the cost of goods sold.

Explanation:

The journal entries in Littleton Books' accounting records show the accounts to be debited and credited as they occur on a daily basis.

6 0
3 years ago
If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sa
Helen [10]

There will be inadequate liabilities.

What Does Sales Revenue Mean?

Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. One part of sales revenue may be paid in cash, and the other part may be paid on credit using methods like accounts receivable.

Either the gross revenue total or the net revenue amount can be used to represent sales revenue on the income statement. All deductions for product returns, the potential for undelivered items, and the cost of bad debt are all included in net revenue.

to know more about sales revenue

brainly.com/question/16232387

#SPJ4

8 0
2 years ago
A thief steals an ATM card and must randomly guess the correct three​-digit pin code from a 9​-key keypad. Repetition of digits
Dennis_Churaev [7]

Answer:

The thief has a 0.11% probability of hitting the pin code on the first try.

Explanation:

Simply, if the ATM card has a 3-digit code that can be repeated, and the board has 9 numbers (for example, from 1 to 9), we must start from the smallest number that could be formed with these numbers to the highest number that these numbers could also compose, which in the case would be 111 and 999. Then, 889 different numbers could be formed (it is the distance between 111 and 999), with which the possibility of hitting the key to the first attempt would be 1 in 889 times, or 1/889.

To take the probability to a percentage, we must know that 889 / 8.89 gives 100. Therefore, dividing 1 / 8.89 we will know the percentage of probabilities of hitting the key on the first attempt: 1 / 8.89 = 0.11.

This shows us that the thief has a 0.11% probability of hitting the key on the first try.

7 0
3 years ago
In the year 2020, a divorced woman under age 50 collects $50,000 of alimony and child support as her sole source of income. The
NikAS [45]

The available options are:

A. No contribution can be made because the woman does not have earned income

B. A contribution of up to $6,000 is permitted, but the contribution is not tax deductible.

C. A tax deductible contribution of up to $7,000 is permitted

D. A tax deductible contribution of up to $9,000 is permitted

Answer:

No contribution can be made because the woman does not have earned income

Explanation:

Unlike in the previous years before 2019, concerning divorce agreements, alimony is now declared to be no longer deductible by the payor and at the same time is considered to be a tax-free income to the recipient. In essence, this indicates that alimony is no longer qualifies as earned income and therefore, cannot be utilized to fund an Individual Retirement Account.

Hence, in this case, since it is , year 2020, the correct answer is "No contribution can be made because the woman does not have earned income."

8 0
3 years ago
Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the
telo118 [61]

Answer:

a. $175.50 and $11,060,000

b. $31,242,500

Explanation:

The computation of the fixed cost and the variable cost per unit by using high low method is shown below:

Variable cost per units = (High total cost - low total cost) ÷ (High units produced - low units produced)

= ($32,120,000- $25,100,000) ÷ (120,000 units - 80,000 units)

= $7,020,000 ÷ 40,000 units

= $175.50

Now the fixed cost equal to

= High total cost - (High units produced × Variable cost per unit)

= $32,120,000 - (120,000 units × $175.50)

= $32,120,000 - $21,060,000

= $11,060,000

Now the estimated total cost is would be

= Fixed cost + expected units of production × variable cost per unit

= $11,060,000 + 115,000 units × $175.50

= $11,060,000 + $20,182,500

= $31,242,500

5 0
3 years ago
Read 2 more answers
Other questions:
  • Google has started a project to scan all books and make those that are not copyrighted available to people free of charge. why i
    9·1 answer
  • Why would it be important to use real gdp to get a more accurate representation of economic growth across time periods?
    10·1 answer
  • If a company hires too many employees and discovers later that it can't afford them, it may have to do what?
    7·2 answers
  • Cost reduction is still the number one priority for many supply chain executives, according to the MHI and Deloitte survey. Sele
    14·1 answer
  • Larner Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the f
    13·1 answer
  • On September 1 of the current year, Mr. Z, a cash-basis, calendar-year, self-employed mechanic, borrowed $10,000 at 10% for 5 ye
    12·1 answer
  • Kindly watch this video
    14·1 answer
  • How long does it take for your tax return to be processed?.
    9·1 answer
  • The Allowance for Doubtful Accounts is a contra-asset account. Increases to the account (to record the period's estimated bad de
    8·1 answer
  • Mansfield Corporation purchased a new warehouse at the beginning of Year 1 for $ 1,000,000 . The expected life of the asset is 2
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!