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
charle [14.2K]
2 years ago
6

Assume you deposit $5,000 at the end of each year into an account paying 9.5 percent interest. a. How much money will you have i

n the account in 19 years
Business
1 answer:
alekssr [168]2 years ago
8 0

Answer: $242,567.27

Explanation:

The $5,000 is an annuity as it is being paid every year and is a constant amount.

The value in 19 years is the future value of this annuity:

Future value of annuity = Annuity * ( ( 1 + rate) ^ number of years - 1) / rate

= 5,000 * ( ( 1 + 9.5%)¹⁹ - 1) / 9.5%

= $242,567.27

You might be interested in
The Reingold Hat Company uses the allowance method to account for bad debts. During 2018, the company recorded $800,000 in credi
olasank [31]

Answer:

$24,000

Explanation:

Since in the question it is given that the  3% of credit sales is considered to be a bad debt expense

where,

Credit sales is $800,000

And, the estimated percentage is 3%

So by considering this above information, the amount debited to bad debt expense is

= $800,000 × 3%

= $24,000

All the other information i.e to be given is not relevant. Hence, ignored it

4 0
3 years ago
A company purchased inventory for $74,000 from a vendor on account, FOB shipping point, with terms of 3/10, n/30. The company pa
marysya [2.9K]

Answer:

Cost of inventory =$73,280

Explanation:

The term 3/10 implies that the company would get a discount of 3% off the gross purchase price if its settles its account within 10 days of purchase. Since the payment was made 9 days after then the  discount is secured.

The cost of inventory =  the net purchase price + the freight charges

Net purchase price = Gross amount - discounts

Net purchase price = 74,000 - (3%× 74,000)=$71780

The cost of inventory = 71,780 + 1500= 73280

Cost of inventory =$73,280

8 0
3 years ago
Gene is a resident of Texas and has never been to Virginia. Helen wants to sue Gene in a Virginia state court regarding a breach
nata0808 [166]

The options are:

The Virginia police arrest Gene in Texas and take him to Virginia.

HThe Virginia police arrest Gene in Texas and take him to Virginia.

Helen could disguise her voice and phone Gene, telling him he has won $10,000 and must pick up the money in Richmond, Virginia, then have him served in Richmond.

Helen could have Gene served with a summons while he is driving through Tennessee.

Helen can have Gene served with a summons in Texas and he must appear in Virginia court.

Helen could disguise her voice and phone Gene, telling him he has won $10,000 and must pick up the money in Richmond, Virginia, then have him served in Richmond.

Helen could have Gene served with a summons while he is driving through Tennessee.

Helen can have Gene served with a summons in Texas and he must appear in Virginia court.

Answer:

Helen could disguise her voice and phone Gene, telling him he has won $10,000 and must pick up the money in Richmond, Virginia, then have him served in Richmond.

Explanation:

Since Gene is suing Gene in a Virginia State court, Gene must be served in Virginia where the court has jurisdiction. If the case was on Federal Court he could have been served in any state.

Helen has to convince Gene to come to Virginia. She can do this by calling him and saying he has won some money in Richmond, Virginia. When he is in Virginia he can now be served.

6 0
3 years ago
How air particle density and air pressure are related
EleoNora [17]

Explanation:

The more gas particles there are within a given area, the greater the air density. Likewise, the greater the air density, the more gas particles there are per unit volume. Therefore, there are more air particles bombarding with a surface. Thus, the air pressure increases as the air density increases and visa versa... I hope this helps you answer your question :)

4 0
3 years ago
Athens Delivery Service is hired on October 31, 2018 to perform services, beginning on November 1, 2018. The delivery services w
solmaris [256]
  1. Answer: $6600  Explanation: Athens' entered into a contract to deliver services from November 1. This contract is valid for 6 months. Their fiscal year ends on December 31. This means that only 2 months worth of services will be delivered in 2018. Even if Athens received cash for the full 6 months they can only record the revenue when they have fulfilled the obligations and rendered the service.  Because only 2 months were rendered in 2018, they can only record $6600 ($3300 × 2 months) in the 2018 fiscal year. The outstanding 4 months' balance will remain in income received in advance account until these 4 months' services are actually rendered and the obligation is fulfilled by Athens.
7 0
2 years ago
Other questions:
  • 64 divide 8 equals blank what dose blank represesent
    10·2 answers
  • A taxpayer with qualified business income who is a patron of an agricultural cooperative will use what form to calculate the qua
    7·1 answer
  • Stark Company's most recent balance sheet reported total assets of $1.82 million, total liabilities of $0.84 million, and total
    5·1 answer
  • Using aggregate supply and demand curves drawn according to the Keynesian view, which of the following will occur if the Fed buy
    14·1 answer
  • WILL MARK BRAINLIEST!
    5·1 answer
  • Orion company sells several products. information of average revenue and costs is as follows: selling price per unit $23 variabl
    8·1 answer
  • Which of the following is the LEAST important for providing quality customer service
    5·2 answers
  • Suppose that the administration in charge of the government proposes increasing spending on infrastructure. Assume that everythi
    15·1 answer
  • Where do most banks get the text to explain their calculations of interest?
    10·1 answer
  • What is application software used for?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!