Answer:
Explanation:
You need to calculate the value of 8 × 12 = 96 different cash flows.
There is not a formula to calculate that, because the<em> $6 dollar increase</em> does not represent growing with a constant rate.
The monthly payments are:
Month payment ($)
0 (today) 300
1 306
2 312
3 318
n 306 + 6 (n-1)
96 (last) 876
Then you must create a spreadsheet with these features:
- Five columns
- First column is the month, and starts with month 0 (today)
- Second column is the initial balance, the first balance is 0
- Third column is the interest: it is calculated as the monthly interest by the initial balance. The monthly interest is 6%/12 = 0.06/12 = 0.005
- Fourth column is the amount deposited: for month zero it is $300, and every month you add $6.
- Fith column is the final balance: it is the sum of the initial balance (second column) + interest (third column) + deposit (fourth colum)
- 96 rows: 8 years × 12months/year = 96 months.
- The initial balance of each row is equal to the final balance of the previous row.
Here a sample of the first three rows:
Month Initial balance Interest Deposit Final balance
0 0 0 300 300
1 300 300×0.005 = 1.5 306 607.5
2 607.5 607.5×0.005 312 922.54
When you do it up to the row 96, the final balance is <em>the balance in the acccount at the end of the eight years</em>.
The last row of your spreadsheet will show:
96 69,042.81 345.21 876 70,264.03
Thus, <em>the balance at the end of eight years will be $70,264.03</em>
Most people in Hospitality and Tourism careers get success with secondary education only as they receive on-job training to learn what they need to know.
<h3>What is a Hospitality and Tourism career?</h3>
Hospitality and Tourism career jobs involve providing planning, management, food, recreation, travel, and similar services. These jobs provide higher monetary perks.
No minimum education is required to get a job in a hospitality and tourism career. This industry values experience more than education.
People are more likely to get success in hospitality and tourism as they learn and update themselves while doing the job. On-job training is an essential advantage of these careers.
Therefore, the correct option is c.
Learn more about hospitality and tourism career here:
brainly.com/question/2789223
Answer:
d. Debit to Interest Receivable of $6,510.
Explanation:
To interest receivable = $180,000 * 6.2% = $11,160
Interest receivable for 7 months (June 1 - December 31) = $11,160 * (7/12) = $6,510
Therefore, the proper adjusting entry at December 31, 2018, with regard to this note receivable includes a <u>debit to Interest Receivable of $6,510</u>.
Answer:
Explanation: Cost of equity can be defined as the return that the investors demand for bearing the risk of ownership in company's equity shares. It can be computed by using CAPM model which is represented as follows :-
cost of equity = risk free rate + beta *(market risk premium)
= 9.15%
<span>Divide $200 by 80 to get $2.50 price per zap. At 3%, Jermaine's $200 would grow to $206 ($200 x 1.03) = $206 by the end of the year. At the end of one year he would have $6 more and would be able to purchase two more zaps (2 X ($2.50 X 1.03), or 2 X $2.575 = $5.15) He would have $.85 left in change.</span>