Answer: $2,027,087.791
Explanation:
Given that,
Lottery commission = $100,000
Remaining 19 payments annually = $100,000
Compounded payment = 7%
Total compounded payment till end:
Where,
A0 = Compounded payment at first deposit = $7,000
t = Total time in years = 20 years
n = No. of compounding periods per year = 1
r = Nominal annual interest rate expressed as a decimal = 0.07
Therefore,
= 7,000 × 3.8696
= $27,087.79
After 20 years,
Total amount deposited will be = $20,00,000 + $27087.79
= $2,027,087.791
I believe the answer to this question is : False
Answer:
Explanation:
wouldnt you have to mulitply the labor hours to 10.00 then subtract 810,000
Answer:
Explanation:
The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:
Cash flow from Operating activities - Indirect method
Net income $25,400
Adjustment made:
Add: Decrease in accounts receivable $5,000 ($20,000 - $15,000)
Less: Decrease in accounts payable -$450 ($8,750 - $9,200)
Total of Adjustments $4,550
Net Cash flow from Operating activities $29,950
Answer:
A) retained earnings represents a claim on cash.
Explanation:
Retained earnings are the accumulated profits that a company keeps that are left after dividends are paid. Retained earnings are the equivalent of a savings account for an individual. Retained earnings are shown in the balance sheet as part of owners' equity.
For example, corporation A had a net profit of $10 million during last year, and it paid dividends for a total of $4 million, its retained earnings for last year are $6 million.
Companies use retained earnings as money available for financing new or existing projects.