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VladimirAG [237]
3 years ago
15

David saves money from his teaching job to buy a new boat when he retires in 20 years. The boat will cost $30,000. He has $12,00

0 in his simple interest savings account. To reach his goal by retirement, David should
move his money to a compound interest account ( T/F)
Business
1 answer:
LuckyWell [14K]3 years ago
7 0

Answer:

True

Explanation:

The main advantage of a compound interest account is that the interest that you earn also earns interest, so the total amount of earned interest increases.

For example, a $10,000 account earning simple interest at a 4% rate will earn $4,000 in ten years. While the same amount in a compound interest account will earn $4,802.

You might be interested in
What other replacements for unions have helped reduce union membership?
kicyunya [14]
Unions are still popular, but not as popular as they were in the late 19th century and early 20th century, because there is more capital circulation, which generally means better conditions for laborers.
5 0
3 years ago
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budg
Sati [7]

Answer:

Bramble Corporation

The difference between cash receipts and cash disbursements for December would be:

=  $71,000

Explanation:

a) Data and Calculations:

Balance Sheet October 31

Assets Cash                            $ 21,400

Accounts receivable                  71,400

Merchandise inventory           156,800

Property, plant and equipment,

net of $573,400 accumulated

depreciation                        1,095,400

Total assets                      $ 1,345,000

Liabilities and Stockholders' Equity

Accounts payable              $ 255,400

Common stock                      821,400

Retained earnings                268,200

Total liabilities and

stockholders' equity      $ 1,345,000

                                     November       December      January

Budgeted sales            $320,000        $300,000   $290,000

Cash Collections:

55% month of sale         176,000            165,000      159,500

45% following month       71,400             144,000      135,000

Total collections          $247,400         $309,000   $294,500

Cost of goods sold     $224,000         $210,000    $203,000

=  (70% of Sales for the month)

Ending Inventory            147,000            142,100

Goods available           $371,000        $352,000

Beginning Inventory      156,800            147,000       142,100

Purchases                    $214,200        $205,000

Cash disbursements:

Payment to suppliers   255,400           214,200      205,000

Other monthly exp.        23,800             23,800

Total disbursements $279,200         $238,000

Comparison of Cash receipts with Cash disbursements:

                                   November       December

Cash receipts             $247,400         $309,000

Cash disbursements $279,200         $238,000

Difference                    ($31,800)           $71,000

8 0
3 years ago
Cloud nine, by caryl churchill, and the laramie project, by moises kaufman, are examples of a contemporary trend in which
ruslelena [56]

<u>Answer:</u>

<em>Cloud nine, by caryl churchill, and the laramie project, by moises kaufman, are examples of a contemporary trend in Political Sense.</em>

<u>Explanation:</u>

What is most exceptional about <em>Caryl Churchill's time traveling</em> satire Cloud Nine is that this insightful play about sexual legislative issues and restraint is <em>presently 36 years of age</em>, however it could have been composed for the current year.

Still a <em>difficult sex bowing play,</em> it asks us how far we think we have originated from the Victorians in our <em>dispositions about sex and character.</em>

7 0
3 years ago
Suppose that the federal administration plans to fight a deep, ongoing recession with a nationwide plan of increasing infrastruc
defon

Answer: Increase (+)

Explanation:

The Government component of the Aggregate Demand refers to money spent by the Government/ Public sector to provide certain needs for the economy such as Education, Defense and Healthcare.

When the government spends on infrastructural development such as the scenario described in the text, they are engaging in a form of spending known as Government Investment. This will increase the amount of G in the aggregate demand model.

4 0
3 years ago
Lucas Diving Supplies Company, in its first year of business, had labor costs of $57,000, overhead costs of $88,000, materials p
WARRIOR [948]

Answer:

$162,000

Explanation:

The amount of cost of goods manufactured is computed as

= Labor cost + Direct materials purchased + overhead costs - ending balance of materials - ending balance of work in process

= $57,000 + $25,000 + $88,000 - $3,000 - $5,000

= $162,000

Hence, the cost of goods manufactured is $162,000

7 0
3 years ago
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