The impact of mao zedong's significant leap forward in china c. mao's efforts to contend with the soviet union resulted in an economic boom
The weather in 1959 was catastrophic and the yearly harvest was not nearly enough to support the Chinese population which led to general famine.
<h3>What was the result of the Great Leap Forward?</h3>
Instead of promoting the country's economy, The Great Leap Forward resulted in mass hunger and famine. It is estimated that between 30 and 45 million Chinese citizens died due to famine, execution, and coerced labor, along with massive economic and environmental collapse.
<h3>What was the Great Leap Forward and how did it affect China?</h3>
The Great Leap Forward was a push by Mao Zedong to change China from a largely agrarian (farming) society to a modern, industrial society—in just five years. It was an unbelievable goal, of course, but Mao had the ability to force the world's largest society to try. The effects, unfortunately, were disastrous.
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The programs completes similar functions as those completed by Microsoft® Publisher.
<h3>What is Microsoft word?</h3>
Microsoft word serves as a program that is used in educational area in writing documents.
It is been owned by Microsoft and it can be used in different field even for research purposes.
Learn more about program at;
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Answer:
Journal Entry
Explanation:
The Journal Entry is shown below:-
Cash Dr, $150,000
To Unearned sales revenue $150,000
(Being receipt of cash in advance is recorded)
Therefore to record the inflow funds we debited cash and to record the liability/obligation to deliver such goods we credited unearned sales revenue.
The type of loan that this is known to represent is what is referred to as the wraparound mortgage loan.
<h3>What is the wraparound mortgage loan?</h3>
This is the type of mortgage that has to do with the fact that the borrower is financing another loan when they have not been able to finance the original mortgage itself.
This type of loan is beneficial to a person given that they would be able to get a system of loan that may not have been possible before.
Hence we have to conclude that Jays financing a property when he has an existing mortgage is what is called the wraparound mortgage loan.
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Answer:
a. $80,318.70
b. $97,568.57
Explanation:
Here is the full question :
You have just received a windfall from an investment you made in a friend's business. She will be paying you $ 15 comma 555 at the end of this year, $ 31 comma 110 at the end of next year, and $ 46 comma 665 at the end of the year after that (three years from today). The interest rate is 6.7 % per year. a. What is the present value of your windfall? b. What is the future value of your windfall in three years (on the date of the last payment)?
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 = $ 15,555
Cash flow in year 2 = $31,110
Cash flow in year 3 = $ 46,665
I = 6.7%
Present value = $80,318.70
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$80,318.70(1.067)^3 = $97,568.57
