The amount generated from the investment with simple interest is calculated through the equation,
F = P x (1 + in)
where F is the future amount, P is the present worth, i is the decimal equivalent of the given interest and n is the number of interest period.
From this item it can be identified that,
P = $10,500
i = 0.06
n = 4
Substituting the known values,
F = ($10,500) x (1 + (0.06)(4))
<em> F = $13020</em>
Therefore, after four years, the amount of money that Alex will have is $13,020.
Answer:
$202,200
Explanation:
DINK (double-income no kids): It suggest to add half all the marriage debt to the funeral expenses:
To the funeral expenses you will add half of the debts:
350,000 / 2 = 175,000 for mortgage
18,600 / 2 = 9, 300 for atomobile loan
5,200 / 2 = 2,600 for credit card debt
9,800 / 2 = 4, 900 other debt
funeral exp <u> 10, 400 </u>
<em>insurance: 202,200</em>
Answer: Reformation
Explanation: In simple words, reformation refers to a process in which something is changed in the current subject to set it again on the right path.
In the given case, the judge believes that the time period set for avoiding the competition is unusually long. Thus, they can reform the contract to make it suitable and justified for all the parties involved.
A. paid for by the lender.
<span>B. signed by the real estate agent. </span>
<span>C. used within 30 days </span>
<span>D. negotiable and capable of being altered. </span>
<span>The Standards of Practice published by the American Society of Home Inspectors (ASHI) are quite inclusive and </span>
<span>A. describe the procedures used in a termite inspection. </span>
<span>B. explain that inspectors may never examine heating systems. </span>
<span>C. can be referred to in court, if necessary. </span>
<span>D. list the fees inspectors must charge for their services </span>
<span>(I know for this question it is NOT D.) </span>
<span>Another term for a pre-inspection agreement is </span>
<span>A. standard of practice </span>
<span>B. pre-sale inspection. </span>
<span>C. scope of work. </span>
<span>D. partial inspection.
hope that helped</span>
Answer:
Contingent liabilities refer to those obligations which might arise in the near future based upon the happening or non happening of a certain event and it's outcome.
Such liabilities are recorded if there is likeliness of an event happening and when they can be reasonably quantified and estimated.
In the given case, the automobile manufacturer will probably be required to recall it's products. The amount can be estimated.
In such cases, such expense is to be recognized in the income statement and at the same time a liability for such expenses needs to be created in the balance sheet. Product recall refers to replacement of defective products by the manufacturer. It is similar to a warranty.
Reporting on Dec 31 would be as follows,
Warranty Expense A/C Dr. $2.5
To Warranty Liability $2.5
(being product recall liability for for 2.5 million created)
