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mr Goodwill [35]
3 years ago
6

Your birthday is next week and instead of other presents, your parents promised to give you $2,100 in cash. Since you have a par

t-time job and, thus, don’t need the cash immediately, you decide to invest the money in a bank CD that pays 5.40 percent, compounded quarterly, for the next two years. How much money can you expect to earn in this period of time? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
Business
1 answer:
Nat2105 [25]3 years ago
6 0

Answer:

FV= $2,765.30

Explanation:

Giving the following information:

Present Value (PV)= $2,100

Interest rate= 0.054/4= 0.0135

Number of periods= 2*4= 8 quarters

<u>To calculate the future value, we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 2,100*(1.0135^8)

FV= $2,765.30

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There are five basic steps to personal financial planning and their related tasks. Arrange these steps and examples of related t
svp [43]

Answer:

B. Evaluate your financial health. Record all expenses for a month to compare income and expenses.

D. Define your financial goals. Pay off credit​ card(s) by the end of this school term.

A. Develop a plan of action. Develop a budget matching income and projected expenses for the remainder of this academic year.

E. Implement the plan. Reduce expenses in problem areas so amounts do not exceed budgeted projections.

C. Review progress on the​ plan, reevaluate the​ plan, and revise the plan or start over with a new one. Based on this​ year, develop a revised budget for next year based on projected income and expenses.

Explanation:

The five basic steps of financial planning are evaluate, define, develop, implement, and review, or EDDIR for short. It basically by knowing your current position and defining how you want to be in the future. Then you must develop a plan and try to implement that plan. After some prudent time, you should go back and review if the plan was successful or not.

5 0
3 years ago
Lin Corporation has a single product whose selling price is $134 per unit and whose variable expense is $67 per unit. The compan
podryga [215]

Answer:

1. 600 units

2. $81,800

Explanation:

In this question we use the formula of break-even point in unit sales which is shown below:

= (Fixed expenses + target profit) ÷ (Contribution margin per unit)

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit

= $134 - $67

= $67

And, the other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= ($32,300 + $7,900) ÷ ($67)

= ($402,00) ÷ ($67)

= 600 units  

2. Break even point = (Fixed expenses + desired profit) ÷ (Profit volume Ratio)  

And, Profit volume ratio = (Contribution margin per unit) ÷ (selling price per unit) × 100

So, the Profit volume ratio = ($67) ÷ ($134) × 100 = 50%

The other values would remain same

Now put these values to the above formula  

So, the value would equal to  

= ($32,300 + $8,600) ÷ (50%)  

= $81,800

8 0
2 years ago
What is a government department business?
Len [333]

Answer:

A government department is a sector of the UK government that deals with a particular area of interest. Government departments are either ministerial or non-ministerial departments.

Ministerial departments are led politically by a Government Minister, usually called a ‘secretary of state’ and supported by a team of junior ministers and civil servants, themselves led by a Senior Civil servant known as a permanent secretary, in charge of administrative management. Ministerial departments cover matters requiring direct political oversight, such as the Department for Transport or the Foreign Office.

Explanation:

please mark me as a brainlist...

5 0
3 years ago
Fast Auto Service provides a lubrication service for cars. It is known that the mean time taken for this
strojnjashka [21]

Answer:

The answer is below

Explanation:

The z core is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:

z=\frac{x-\mu}{\sigma}\\\\where\ \mu=mean,\sigma=standard\ deviation, x = raw score

Given that mean (μ) = 15 minutes per car, standard deviation (σ) = 2.4 minutes.

1) For x > 18:

z=\frac{x-\mu}{\sigma} =\frac{18-15}{2.4} =1.25

From normal distribution table, P(x > 18) = P(z > 1.25) = 1 - P(z < 1.25) = 1 - 0.8944 = 0.1056

2) For x < 10:

z=\frac{x-\mu}{\sigma} =\frac{10-15}{2.4} =-2.08

From normal distribution table, P(x < 10) = P(z < -2.08) = 0.0188

3) For x > 12:

z=\frac{x-\mu}{\sigma} =\frac{12-15}{2.4} =-1.25

For x < 16:

z=\frac{x-\mu}{\sigma} =\frac{16-15}{2.4} =0.42

From normal distribution table, P(12 < x < 16) = P(z < 0.42) - P(z < -1.25) = 0.6628 - 0.1056 = 0.5572

6 0
2 years ago
A decision to carry out one of the activities in the value chain internally rather than to buy externally from a supplier is a _
iogann1982 [59]

Answer:

Make or Buy

Explanation:

Based on the information provided within the question this is known as a Make or Buy decision. Like mentioned in the question this is when a company chooses to produce a product and it's activities internally (meaning within their company or their subsidiaries) as opposed to buying it externally (outsourcing).

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
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