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
Andru [333]
3 years ago
15

You want to have $400,000 to purchase a house 10 years from today. Assuming you can earn 3 percent, compounded annually, how muc

h money must you invest today
Business
1 answer:
AfilCa [17]3 years ago
6 0

Answer:

$297,638

Explanation:

Future Value (FV) = 400,000 (The amount you need to have in 10 years)

n = 10 years

i/r = 3%/year

Present Value (PV) - Money you need to invest today:

= 400,000 / (1+0.03)^10 = $297,638

You might be interested in
Using the information provided, analyze the affects of Lawry Lawn Service's transactions on the accounting equation.
Arlecino [84]

Answer:

Common Stock $3,400 (credit)

Mower $1,600 (debit)

Revenue Service $1,000 (credit)

Cash $2,600 (debit)

Gas Expense    $100 (debit)

Dividends $0

Explanation:

See below the posting i have done to the ledger accounts.

Mower T - Account

Debit :

Accounts Payable       $1,600

Credit :

Balance c/d                 $1,600

Revenue Service T - Account

Debit :

Balance c/d                 $1,000

Credit :

Account Receivable   $1,000

Cash T - Account

Debit :

Common Stock         $3,400

Credit :

Gas Expense                 $100

Dividends                     $700

Balance c/d                $2,600

Gas Expense T - Account

Debit :

Cash                                $100

Credit :

Balance c/d                    $100

Dividends - T Account

Debit :

Shareholders for dividends    $700

Credit :

Cash                                         $700

7 0
4 years ago
Because leaders need to devise effective solutions in short time spans with limited information, they need to have
Ghella [55]

1. Because leaders need to devise effective solutions in short time spans with limited information, they need to have cognitive abilities.

2. Trait appraisals are subject to validity problems due to evaluator bias.

Explanation:

Cognitive abilities are knowledge based on the brain, which we need to perform from easy to complex tasks. They are mostly about how they read, recall, resolve issues and pay close attention than about any true knowledge. They were about how they think.

Traits have included the personality, behavior, leadership, work ethics, leadership skills, ethical sense, loyalty, flexibility, and judgment. On either hand, if the trait is legitly related to the work, then it might be valued.A trait is a person's own characteristic.

5 0
3 years ago
Miller Corporation issued 6000 shares of its​ $5 par value common stock in payment for attorney services billed at​ $54,000. Mil
Deffense [45]

Answer:Share premium account of $24,000

The provider of attorney services of $30,000

Explanation:

On provision of services, the Attorney services expenses account is debited with $54,000 and the attorney services provider account credited with $54,000

Furthermore a share account is opened for the provider and credited with $30,000 , the share premium is credited $24,000 and a debit transfer is made to his liability account initially credited.

The $24,000 credit to share premium represents the difference between the nominal value of the share of $5 and the market value of $9 multiply by the 30,000 shares he was paid with.

Also a memorandum will be issued to state that 6000 share has been transferred from Miller to the attorney services provider and the shares will be delited from his name and entered in the name of the services provider because the credit of shares to his account does not represents new shares issued but it's the transfer of Miller's shares to him.

4 0
3 years ago
______ buy and sell stolen property as one of the many ways that they make a living. they typically keep some of the profit and
Contact [7]
Arjun.............................................
8 0
3 years ago
Objective of management​
AnnZ [28]
Getting Maximum Results with Minimum Efforts.
8 0
3 years ago
Read 2 more answers
Other questions:
  • If during the signing appointment the borrower divulges that the property being financed is an investment property, while the lo
    12·1 answer
  • Can someone plz tell me what is 500-500+50​
    12·1 answer
  • Which of the following correctly describes a production isoquant?
    10·1 answer
  • The accountant at Novak Corp. has determined that income before income taxes amounted to $13400 using the FIFO costing assumptio
    7·1 answer
  • When a customer purchases a product but is not yet ready for delivery, this is referred to as?
    12·1 answer
  • Rework problem 3 in section 1 of Chapter 7 of your textbook, about the Natural Fertilizer Company, using the following data. Ass
    8·1 answer
  • 1. The level of prices and the value of money
    14·1 answer
  • A candidate may apply to multiple jobs at the company Universal Containers by submtting a single application per job posting. On
    7·1 answer
  • ⦁ Which of the following is a disadvantage of a sole proprietorship?
    13·1 answer
  • Manufacturing costs include all of the following categories except ________. multiple choice
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!