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EleoNora [17]
3 years ago
10

At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8 percent compounded annually. (a) How

much is in the account today? (b) How much would be in the account if the deposits were made at the beginning each year rather than at the end of each year?
Business
1 answer:
Travka [436]3 years ago
3 0

Answer:

a) = $10,896.71

b) = $11,768.45

Explanation:

The question is divided into 2 parts

Part a) Amount in the account today

The formula to use is as follows:

FV of Annuity= P(1+r)∧n - 1)/r

P= Periodic Payment = $450

r= Rate of each period= 8%

n= the number of periods= 14

The account today is as follows:

FV = 450 x (1+0.08)∧14-1]/0.08

= $10,896.71

Part b) The formula to use is as follows:

FV = Future value = (1+r) * P * [ (1+r)n -1] / r

P= Periodic Payment = $450

r= Rate of each period= 8%

n= the number of periods= 14

= Fv= (1+0.08) * 450 * [ (1+0.08)^14 - 1] / 0.08

= $11,768.45

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Garden Zurich Corp. manufactures garden fountains. It currently has two product lines, the basic and the luxury. Garden Zurich h
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Answer:

Garden Zurich Corp.

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Overhead assigned to each product line:

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Luxury = $85,750 ($17.15 * 5,000)

b. Activity rates for each cost pool:

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Explanation:

a) Data and Calculations:

Total overhead = $171,500

                             Basic    Luxury

Direct costs         $200      $300

Selling price          500         750

Contribution       $300      $450

Production units   800        500

Activity Cost           Cost Driver  Cost Assigned to Pool  Quantity/Amount  

Pools                                                                              Basic        Luxury

Materials handling Number of moves         $14,000      20           50 moves

Quality control       Number of inspections $37,500   250          125 inspec.

Machine                 Number of machine

maintenance            hours                         $120,000  5,000    5,000 m.hour

Total overhead costs                                  $171,500

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6 0
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6 0
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