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jonny [76]
4 years ago
9

Jake's parents were able to save $60,000 for his college tuition by the time jake graduated from high school. jake is trying to

determine if he needs to work part time to make up any differences in his tuition over the next four years. he is currently estimating that tuition will be $18,000 per year, and he can earn eight percent on the balances remaining at the end of each year. how much will jake be able to withdraw each year for his college tuition if he withdraws an equal amount each year for four years? (use exhibit 1-d and round your answer to the nearest dollar amount.)
Business
1 answer:
Paul [167]4 years ago
5 0

Answer:

$16,773.36

Explanation:

this is an annuity due since Jake will need to withdraw money at the beginning of the year, not the end of the year:

principal = $60,000

n = 4 distributions

interest rate = 8%

annual withdrawal = principal / annuity due factor (PV, 8%, 4 periods)

annual withdrawal = $60,000 / 3.5771 = $16,773.36

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(c) UCC; common law

Explanation:

3 0
3 years ago
Finke Company's employees are paid each Friday for hours worked the previous week. At the end of the accounting period, Finke Co
pogonyaev

Answer: Claims exchange transaction

     

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In the given case, the company accrues $3200 to its employees. This transaction will have a dual effect of increase in liabilities and decrease in retained earnings, so the overall claims will remain unchanged.

Hence we can conclude that the correct option is D .

8 0
3 years ago
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Answer:

Answer in this case will be 39 months

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3 0
3 years ago
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6 0
4 years ago
A local sporting goods store offers 30% off the local high school spirit wear during homecoming week.
kotykmax [81]

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The use of promotion as a marketing tool helps suppliers and buyers communicate with one another. By doing this, the vendor seeks to persuade and influence customers to purchase their goods or services. It helps to inform consumers about the company, its goods, and its services.

Marketing promotion is characterised as a kind of interaction between a buyer and a seller in which a buyer persuades his or her audience to purchase the things being offered. The major goals of promotion are to build brand loyalty, interest in the product or service, and sales.

To learn more on promotion

brainly.com/question/24180792

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