Maggie suffers from low self-esteem

You believe you will spend $240,000 a year for 25 years once you retire in 17 years. If the interest rate is 3.90% per year. (Do

AleksandrR [38]

Answer:

Results are below.

Explanation:

First, we need to calculate the money required at the time of retirement:

FV= 240,000*25= $6,000,000

Now, using the following formula, we can determine the annual investment:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (6,000,000*0.039) / {[(1.039^17) - 1]

A= $255,373.88

5 0

3 years ago

Rains Company purchased equipment on January 1 at a list price of $125,000, with credit terms 2/10, n/30. Payment was made withi

klio [65]

Answer: $135,950

Explanation:

Given the following

List price = $125,000

2% discount if payment is made within 10 days

Sales tax = $6,250

Installation charges = $2,200

Concrete slab = $5,000

Total sales = [(100 - 2)% × list price] +sales tax + installation charges + concrete slab

Total sales =( 98% × 125,000) + 6250 + 2200 + 5000

Total sales = $(122,500 + 6250 + 2200 + 5000)

Total sales = $135,950

8 0

3 years ago

Suppose that the inverse demand for San Francisco cable car rides is p=10-(Q/1000), where p is the price per ride and Q is the n

Yuki888 [10]

Answer:

Explanation:

Revenue is given by the number of rides per day (Q) multiplied by the price per ride (p):

$r=Q*p=Q*(10-\frac{Q}{1000}) \\R=10Q-\frac{Q^2}{1000}$

The number of rides 'Q' for which the derivate of the revenue function is zero is the revenue-maximizing number of rides:

$R(Q)=10Q-\frac{Q^2}{1000}\\R'(Q) = 0 = 10-\frac{Q}{500}\\Q=5000\ rides$

The price per ride at an activity of 5000 rides per day is:

$p(5,000) = 10 - \frac{5,000}{1,000}\\p=\$5$

Therefore, the revenue-maximizing price is $5

3 0

3 years ago

In this exhibit (Simultaneous Shifts in Demand and Supply), D1 and S1 are original supply and demand curves, and S2 and D2 are n

Marrrta [24]

Answer:

Simultaneous Shifts in Demand and Supply

In this market, the change in supply may have resulted from:

b. an improvement in technology.

Explanation:

An improvement in technology is the only correct option that can cause the change in supply from S1 to S2. Wage increases for the workers increase the cost of production, which can decrease sales volume. Similarly, a decrease in the number of sellers will most likely reduce sales volume instead of increasing it.

4 0

3 years ago

Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,800,000 shares issued; Additional Paid-i

Fittoniya [83]

Answer:

Total Stockholder's Equity is $26,276,000.

Explanation:

Stockholders’ equity section of the balance sheet

Common Stock @ $1 $1,800,000

Additional Paid-in Capital, $1,6200,000

Retained Earnings, $9200,000

Less: Treasury Stock $924,000

Total Shareholders Equity $26,276,000

As treasury stock is the contra equity account so its value will be deducted from equity. So total Stockholder's Equity is $26,276,000.

6 0

4 years ago