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Vlad [161]
2 years ago
7

You just won the grand prize in a national writing contest! As your prize, you will receive $500 a month for 50 months. If you c

an earn 7 percent on your money, what is this prize worth to you today
Business
1 answer:
max2010maxim [7]2 years ago
3 0

Answer:

<u>Prize is $22,071.39 worth today</u>

Explanation:

Present value of Annuity = A*[(1-(1+r)^-n)/r]

A - Annuity payment = 500

r - rate per period = 6/12 = .5%

n - no. of periods = 50

Present value of Annuity = 500*[(1-(1.005)^-50)/.005]

= 500*[(1-0.77928606825)/.005]

= 500*44.14278635

= $22,071.39

You might be interested in
Net Purchases + Purchases Returns and Allowances + Purchase Discounts equals:
allochka39001 [22]

Answer:

OB. Gross Purchases.

Explanation:

Gross purchases represent all the purchases a business made in a particular period. It includes returns outwards ( purchases returns),  discounts and allowances received.

Net purchases are calculated by subtracting purchase returns, discounts received, and allowances from gross purchases.

Therefore, Net Purchases + Purchases Returns and Allowances + Purchase Discounts= gross purchases.

4 0
2 years ago
Dima called her friend to tell her that she saved 30% on her new skirt at a discount store. Her friend told her that she could h
FromTheMoon [43]

If the original price of Dima’s skirt was $54, the amount that she have saved at the store was option(b)i.e, $1.80.

Let's just take the sales price of the skirt Dima purchased from the discount shop as the rate of the other retailer is not provided.

Original price: $54

Discount rate: 30%

$54 x 30% = $16.20 value of the discount

$54 - 16.20 = $37.80 discounted price.

Since Dima's friend told her she could have had a better deal at a different store, this means that the discount rate is higher than 30%. i.e, the discount is 33.33%

$54 x 33.33%  = $17.99 value of the discount

$54 - 17.99 = $36.00 discounted price.

Discount store: $37.80

Different store: $36.00

The different store sales price is cheaper by $1.80

Therefore, she could have saved $1.80 at the store her friend suggested.

To know more about discount rate refer to:  brainly.com/question/13660799

#SPJ1

6 0
1 year ago
For the past 25 years, sam's family ran movie theatres in a mid-sized metropolitan area. four theatres were located in three dif
Scilla [17]
After reading the segment, "let's go to the movies," in the spotlight on small business box, you would suggest to Sam that he differentiate the offering by transforming at least one of the screens into a space where patrons can experience dinner and a movie.



3 0
3 years ago
Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each
scoray [572]

Answer:

$3,445

Explanation:

Starlight Company has inventory of 8 units at a cost of $200 each on October 1.

On October 2, it purchased 20 units at $205 each.

11 units are sold on October 4.

Using the LIFO perpetual inventory method, the value of inventory after the October 4 sale will be:

Date   Particulars                    Unit   Cost  Balance

Oct 1  Beginning inventory     8     $200

Oct 2 Purchases                   20    $205    28

Oct 4 Sales                             11     $205    17

The 17 units are made up of the balance of 9 from the purchases on Oct 2, and the 8 units of opening inventory.

Hence the value of inventory after the sale is (9 x $205) + (8 x $200) = $3,445

- $3,485.- $3,445.- $3,500.- $3,472.- $3,461.

4 0
3 years ago
Read 2 more answers
The Jackson-Timberlake Wardrobe Co. just paid a dividend of $2.15 per share on its stock. The dividends are expected to grow at
docker41 [41]

Answer:

The current price is $34.40

The price be in three years is $38.70

The price in 15 years is $61.95

Explanation:

In this question, we apply the Gordon model which is shown below:

= Next year dividend ÷ (Required rate of return - growth rate)

where,  

Current year dividend

For one year

= $2.15 × (1 + 4% )

= $2.15 × 1.04

= $2.236

The other items rate would remain the same

Now put these values to the above formula  

So, the value would equal to

= 2.236 ÷ (10.5% - 4%)

= $34.40

The price is three years would be

= $34.40 × (1.04) ^ 3 years

= $34.40 × 1.124864

= $38.70

The price is 15th years would be

= $34.40 × (1.04) ^ 15 years

= $34.40 × 1.8009435055

= $61.95

7 0
2 years ago
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