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aleksandr82 [10.1K]
3 years ago
15

The Weidmans want to save $20,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 1

2%, compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.)
Business
1 answer:
tia_tia [17]3 years ago
3 0

Answer:

Weidwans will do monthly contribution of 326.68 per month to be able to get 20,000 in four years and make the downpayment for a house.

Explanation:

We want to make monthly deposit to generate a future value of 20,000 in 4 years at 12% annual rate compounding monthly

FV \div \frac{(1+r)^{time} -1}{rate} = C\\

FV  $20,000.00

time 4 years x 12 month per year: 48

rate 12% per year / 12 month = 1% monthly  = 0.01

20000 \div \frac{(1+0.01)^{48} - 1}{0.01} = C\\

C $ 326.68

Weidwans will do monthly contribution of 326.68 per month to be able to get 20,000 in four years and make the downpayment for a house.

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Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.00 each. Indicate wh
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Answer:

1. Price ceiling, Binding

2. Price ceiling, Binding

3. Price floor, binding

Explanation:

Price ceiling is a government or group control limit on how high a product, commodity or service can be charged.

Price floor is a government or group limit on how low a product, commodity or service can be charged.

Binding simply means you are legally bound to something while non-binding means you are not legally bound to it.

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3 years ago
I wanna know about debit and credit full explanation ​
BigorU [14]

Answer:

Explanation:

A debit is an entry made in an account. It either increases an asset or expense account or decreases equity, liability, or revenue accounts.

A credit is an entry  alsom made in an account. It either increases equity, liability, or revenue accounts or decreases an asset or expense account.

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3 years ago
Read 2 more answers
Pfister Corporation has Long-term Assets of $485,000, Current Liabilities of $150,000, Long-term Liabilities of $220,000 and Own
Stels [109]

Answer:

$205,000

Explanation:

Total liabilities=current liabilities+long-term liabilities

total liabilities=$150,000+$220,000

total liabilities=$370,000

total owners'equity plus liabilities=$320,000+$370,000=$690,000

long-term assets+current assets=liabilities+owners'equity

long-term assets=$485,000

current assets are unknown

liabilities+owners'equity=$690,000

let CA represent current assets

$485,000+CA=$690,000

CA=$690,000-$485,000

CA=$205,000

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3 years ago
Any opinion that kitkats are very good. please answer with deatal.
daser333 [38]
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5 0
3 years ago
Bill, Page, Larry, and Scott have decided to terminate their partnership. The partnership's balance sheet at the time they decid
WARRIOR [948]

Answer:The answer is $0 $0

Explanation:

The entry in the Balance sheet

Dr : capital Bill $25,000, page $110,000,Larry $100,000, Scot $65,000, Account payable $100,000 , Total Dr $400,000 Cr : Non cash asset $300,000, cash $ 100,000, Total Cr $400,000

The entry in the Realisation Account will be

Dr: sundry Asset $400,000, Cr : proceed from sale of asset $150,000, Balance c/d $250,000 , Share of the loss Bill 3/10 × 250,000 = $75,000, Page 2/10 × 250,000 = $50,000, Larry 1/10 × 250,000 = $25,000, Scot 4/10 × 250,000 = $100,000Total Dr : $400,000, Total Cr :$400,000

The entry in the capital Account of the partners will be

Bill Dr: share of loss $75,000, Total Dr:$75,000 Cr : Balance b/d $25,000,Balance c/d $50,000, Total Cr: $75,000

Page Dr: share of loss $50,000, Balance c/d $60,000, Total Dr:$110,000Cr: Balance b/d $110,000, Total Cr : $110,000

Larry Dr : share of loss $25,000, Balance c /d $75,000, Total Dr:$100,000, Cr : Balance b /d $100,000 Total Cr $100,000

Scot Dr: share of loss $100,000, Total Dr : $100,000Cr: Balance b /d $65,000, Balance c /d $35,000, Total Cr :$100,000

Note : if realisation of the asset result in a loss and a partners capital account is already or is thereby placed in debt, the partner must pay in enough cash to clear the balance. Otherwise, the remaining partners cannot be paid the sums shown to their credit. Since Page and Larry capital account both showed a debit balance, The amount to be distributed to page and Larry upon liquidation of the partnership is $0 $0

7 0
3 years ago
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