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rjkz [21]
3 years ago
10

Since your first birthday, your grandparents have been depositing $1,000 into a savings account on every one of your birthdays.

The account pays 4% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to:
Business
1 answer:
irina1246 [14]3 years ago
4 0

Answer:

$25,650

Explanation:

The formula for calculating the future value of an annuity is:

F = P x ([1 + I]^N - 1 ) / I

where:

  • P = payment amount = $1,000
  • I = interest rate = 4%
  • N = number of payments = 18

F = $1,000 x ([1 + 4%]^18 - 1 ) / 4% = $1,000 x (1.04^18 - 1 ) / 4% = $1,000 x (2.026 - 1 ) / 4% =  $1,000 x 1.026 / 4% = $25,650

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Beyer Company is considering the purchase of an asset for $370,000. It is expected to produce the following net cash flows. The
Alenkasestr [34]

Answer:

3.55 years

Explanation:

The payback period is the length of time it takes for Beyer Company to recoup the initial investment of  $370,000.

In other words, the number of years for the net cash flows of the project to equate the initial investment amount of $370,000 as shown in the attached excel file for Beyer company's payback computation

Download xlsx
5 0
3 years ago
The Constitution defines all of the following as limits of the government’s power to tax except that _____.
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Constitution has something called Bill of Rights which are your rights. Also,  Supreme Court (Judicial branch) is there to interpret the laws. They can declare a law unconstitutional and all disputes between individual and government are settled in Supreme Court. 
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3 years ago
A firm produces and sells two products, Plus and Max. The following information is available relating to setup costs (a part of
Reika [66]

Answer:

$4 and $4

Explanation:

The computation are shown below:

Per hour cost = Total set up cost ÷ Total direct labor hours

                          = $64,800 ÷ $81,000

                          = $0.8

Now the set up cost would be

= Per hour cost × Direct labor hours per unit

For Plus

= 5 × $0.8

= $4

For Max

= 5 × $0.8

= $4

All other given information is not important. Hence, ignored it

4 0
4 years ago
efferson is interested in starting his own business. He plans to borrow money from the local bank in order to finance the busine
sweet-ann [11.9K]
The will require him to submit a business plan and a financial plan.
8 0
3 years ago
On November 7, 2017, Mura Company borrows $360,000 cash by signing a 90-day, 9% note payable with a face value of $360,000. (Use
Charra [1.4K]

Answer:

The accrued interetst is $4860 and $3240

Explanation:

Solution

Recall that:

Mura Company borrows= $360,000

Time =90/360

rate = 9%

Face value =$360,000

The next step is to compute the accrued interest payable on December 31, 2017.

Now,

Interest = 360000*9%*90/360=8100$

year end interest accrual:

Principal =$360000

time 54/360

Interest =360000*9%*54/360 = $4860

Interest recognized on February 5

Principal =$360000

Rate= 9%

Time= 36/360

Interest 360000*9%*36/360 = $3240

8 0
3 years ago
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