Answer:
Instructions are below.
Explanation:
Giving the following information:
Value at 18= $4,909
Interest rate= 3%
To calculate the final value, we need to use the following formula:
FV= PV*(1+i)^n
A) Number of years= 7
FV= 4,909*(1.03^7)= $6,307.45
B) Number of years= 47
FV= 4,909*(1.03^47)= $19,694.39
C) Finally, we need to determine the original investment. We need to isolate the present value from the formula:
PV= FV/(1+i)^n
PV= 4,909/(1.03^18)
PV= $2,883.52
Answer:
a. The average age of the population in his community is high.
Explanation:
As the average age of the population in his community is high, it is an opportunity for an entrepreneur who wishes to open a business providing "Fitness for Life" physical conditioning services (strength, balance, and flexibility training) in a city of 100,000 people because people will be more interested in the physical conditioning services and they will be attracted towards it as when the age rises, people become more interested in the health related activities, therefore, chances are very high that this will pose a serious and profitable opportunity for the entrepreneur in that particular city. He or she can definitely capture this opportunity very handsomely and profitably.
When an economist makes a prediction that a rise in consumer incomes will increase the demand for bicycles sold by a bicycle company, it is made on assumption that bicycles are normal goods. Therefore, the option A holds true.
<h3>What is the significance of normal goods?</h3>
The normal goods or services being sold in the market of an economy can be referred to or considered as goods that have a direct relation with the demand for such goods, which are affected by consumer income.
As per the behavior of normal goods, it can be inferred that their demands increases with a given increase in the disposable income of the consumer, such as the one in the condition given above.
Therefore, the option A holds true and states regarding the significance of normal goods.
Learn more about normal goods here:
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An economist for a bicycle company predicts that a rise in consumer incomes will increase the demand for bicycles. This prediction assumes that bicycles are _____.
A. Normal goods
B. Luxury Goods
C. Inferior Goods
D. None of the Above
Answer:
(C) Cash
Explanation:
Receivables means deptors. These are obligations that has been honoured and value given, but you're yet to get cash. Receivables are seen as such. So the things you've given value to and you're yet to receive cash or payment for are receivables.
So when receivables are collected, then the asset account Cash is increased.
On the Delivery of goods or Services, the company debits Accounts Receivable and credits what is known as Sales Revenues or Service Revenues. When an account receivable is collected say 30 days later, the account receivables is reduced and the Cash or bank account is increased.
Answer:
a) $22,010
b) $3,780
c) $25,790
Explanation:
a) In calculating the value of inventory still left, the total value needs to be calculated first,
= (80 freezers * $540) + $820 ( transport fees)
= 43,200 + 820
= $44,020
40 out of 80 freezers have not been sold so,
= 40/80 * 44,020
= $22,010
b) In calculating the profit, subtract the expenses from the sales
Sales = 40 * 700
= $28,000
= 28,000 - Cost of refrigerators - commission of 6% of sales - advertising - installation
= 28,000 - 22,010 - (28,000*0.06) - 180 - 350
= $3,780
c) The amount remitted by the consignor will be,
= Sales - commission - advertising - installation
= 28,000 - (28,000 * 0.06) - 180 - 350
= $25,790
