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djverab [1.8K]
3 years ago
6

Orion would like to go on a trip to Ireland in two years. He wants to have $3,000 for the trip, so he is planning to invest mone

y into an account with an 8% compounding interest rate. How much will Orion need to invest right now in order to attain his goal in two years?
Business
1 answer:
denis-greek [22]3 years ago
4 0

Answer:

The answer is: If Orion wants to have $3,000 in two years, he must invest $2,572.02 today

Explanation:

To determine how much money Orion has to invest today in order to have $3,000 in two years, considering he will get an 8% compound interest rate, we can use this formula:

P = FV / (1 + r)²    

Where:

  • FV = $3,000
  • r = 8%

P = $3,000 / (1 + 8%)²

P = $3,000 / 1.1664

P = $2,572.02

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2 years ago
Return on sales for south drive is lower in year 2 than year 1 what expense is causing this lower?
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The correct answer is d: Interest Expense. The expense that is causing lower profitability is the Interest Expense.

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Since there are typically lags between interest accruing and interest paid, interest expense frequently appears as a line item on a company's balance sheet.

Comparative income statements for South Drive Company for Year 2 and Year 1 are given below.

................................................Year 2.......................... Year 1

Sales ....................................900,000 .......................500,000

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Gross profit on sales ........468,000 ........................260,000

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Rent expense ....................(90,000) .......................(50,000)

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Net income........................ 244,000 ..........................150,000

Return on sales for South Drive is lower in Year 2 than in Year 1. What expense is causing this lower profitability?

a. Cost of Goods Sold

b. Wage Expense

c. Rent Expense

d. Interest Expense

Learn more about interest expense here:

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