1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
777dan777 [17]
3 years ago
13

Your parents have accumulated a $120,000 nest egg. They have been planning to use this money to pay college costs to be incurred

by you and your sister, Courtney. However, Courtney has decided to forgo college and start a nail salon. Your parents are giving Courtney $33,000 to help her get started, and they have decided to take year-end vacations costing $10,000 per year for the next four years. Use 7 percent as the appropriate interest rate throughout this problem.a. How much money will your parents have at the end of four years to help you with graduate school, which you will start then? b. You plan to work on a master’s and perhaps a PhD. If graduate school costs $24,060 per year, approximately how long will you be able to stay in school based on these funds?

Business
1 answer:
Julli [10]3 years ago
5 0

Answer:

At the end of the 4th year, the original $87,000 less an annual vacation expense of $10,000 would have compounded at an interest rate of 7% to become $69,640

Graduate school costs $24,060. The funds will expire after 2.9 years

Explanation:

Kindly refer to the attached document for clearer breakdown of the workings

You might be interested in
It is understandable that productivity is rising faster in the service sector because service businesses have newer technologies
Lina20 [59]

Answer:

The answer is a. true

Explanation:

Service sector tend to be up to date when it comes to technology as this tends to help them provide services efficiently. Sector service tend to have fewer laborers compared to manufacturing sector as many processes in service provision are merely done by the evolving technology

8 0
3 years ago
Read 2 more answers
Derrick invested $70,000 cash in the business. Paid $10,000 in cash for equipment. Performed services for cash amounting to $7,0
bulgar [2K]

Answer:

Explanation:

The effect of each transactions are shown below:

The journal entries are shown below:

1. Cash A/c Dr $70,000

        To Derrick's capital A/c $70,000

(Being the invested cash is recorded)

So as we can see that the cash is debited and derrick capital is credited

2. Equipment A/c Dr $10,000

        To Cash A/c $10,000

(Being the equipment is paid for cash)

So as we can see that the equipment is debited and cash is credited

3. Cash A/c Dr $7,000

        To Service revenue A/c $7,000

(Being the cash is received)

So as we can see that the cash is debited and service revenue is credited

4. Advertising expense A/c Dr $1,800

               To Cash A/c $1,800

(Being the advertising expense is paid for cash)

So as we can see that the advertising expense is debited and cash is credited

5. Supplies A/c Dr $1,000

       To Cash A/c $1,000

(Being the supplies are paid in cash)

So as we can see that the supplies are debited and cash is credited

4 0
3 years ago
If a country produced nothing but 20 smartphones and 10 Blu-ray players in 2017, priced at $100 per smartphone and $200 per Blu-
TiliK225 [7]

Answer:

The correct answer is option c.

Explanation:

A country produces two goods, smartphones, and Blu-ray players. The quantity of smartphones is 20, its price is $100.

While the quantity of Blu-ray players is 10 and the price is $200.

The GDP of a country measures the value of final goods and services produced in the country in a year.

The GDP of this country will be

=  (20\times \$100) + (10\times \$200)

= $2,000 + $2,000

= $4,000

5 0
3 years ago
Daniela is a 25% partner in the JRD Partnership. On January 1, JRD makes a proportionate, liquidating distribution of $16,000 ca
zavuch27 [327]

Answer:<u><em> The amount and character of Daniela's gain or loss from the distribution will be $0.</em></u>

Explanation:

Given : Daniela is a 25% partner in the JRD Partnership, liquidating distribution of $16,000 cash, inventory with a $16,000 fair value (inside basis $8,000), and accounts receivable with a fair value of $8,000.

<u><em>Here, Daniela will not recognize any gain or loss on the distribution. She will instead reduce the basis of the inventory she receives in complete liquidation of her interest.</em></u>

4 0
3 years ago
Fredrico has to lead a training for his company. He wants to include a visual element to help engage his audience. What type of
olga_2 [115]

Answer: The correct answer is a PowerPoint presentation.

Explanation: The best method to include a visual element to a training is by using PowerPoint. This is a Microsoft program that allows you to create engaging visual presentations. In addition to text, it allows the creator to include things like photos, text effects and videos in the presentation.

7 0
3 years ago
Other questions:
  • If a firm’s business activities do not result in profit maximization, whilst alternatives exist, then such activities amount to
    8·1 answer
  • Below is selected financial information for Panettone, Inc. Balance Sheet ($ in Millions) Income Statement ($ in Millions) Asset
    13·1 answer
  • Suppose that a monopolistically competitive restaurant is currently serving 240 meals per day (the output where MR = MC). At tha
    14·1 answer
  • Which statement describes a convention used by Italian Baroque artist Caravaggio in The Conversion of Saint Paul?
    8·1 answer
  • Vibrant Company had $850,000 of sales in each of three consecutive years 2016–2018, and it purchased merchandise costing $500,00
    15·1 answer
  • Which economist theorized that depression will occur when the economic cycle is broken?
    7·1 answer
  • Exxon Mobil has entered into a pact with Gazprom, the world's largest natural gas extractor, to set up a processing unit in Baku
    9·1 answer
  • Danielsen's has 15,000 shares of stock outstanding and projected annual free cash flows of $48,200, $57,900, $71,300, and $72,50
    6·1 answer
  • Please choose A, B, C, or D
    7·2 answers
  • Six acres of prime undeveloped property are sold for $2.25 per square foot. how much did the buyer pay?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!