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Your rich aunt has promised to give you $5,000 per year at the end of each of the next four years to help you pay for college. U

Liula [17]

Answer:

Nour rich aunt has promised to give you $5,000 per year at the end of each of the next four years to help you pay for college. Using a discount rate of 7%, what is the present value of the gift. If the JPEG file doesn't open, Appendix A in your book has full Present Value tables. PV.Tables-Lumo-Ann PG 54,278 $12,411 $20,000 $16.935 Table A-1 Present Value of $1 Preser Periods 1% 2% 3% 4% 5% 6% 7% 1 2 3 4 5 0.990 0.980 0.971 0.961 0.951 0.971 0.943 0.915 0.888 0.863 0.962 0.925 0.889 0.855 0.822 0.952 0.907 0.864 0.823 0.784 0.943 0.890 0.840 0.792 0.747 0.935 0.873 0.816 0.763 0.713 0.980 0.961 0.942 0.924 0.906 0.888 0.871 0.853 0.837 0.820 OOOOO OOOOO 6 7 8 9 10 0.942 0.93 0.923 0.914 0.905 0.837 0.813 0.789 0.766 0.744 0.790 0.760 0.731 0.703 0.676 0.746 0.711 0.672 0.645 0.614 0.705 0.665 0.627 0.592 0.558 0.666 0.623 0.582 0.544 0.508 Table A-2 Present Value of Ordinary Annuity of $1 Pre Periods 15 2 3% 4% 5% 65 7% 0.943 1 2 0980 1942 2.884 3.808 4.713 0.952 1.886 2.775 3.630 4.452 0.952 1859 2.723 3.546 4320 0915 1.80 2624 2673 3.065 4.212 4 5 3387 0.990 1970 2.941 3.902 4.853 5.795 6.728 7,652 8.566 4100 0.971 1.91 2620 3.712 4.580 5.417 6.210 7020 7.796 8.530 6 7 5.601 6.472 7.325 8.16 5.242 6.002 6.733 7.435 8.111 5076 5.786 6.463 7.108 7.722 4.917 5.582 6.210 6.802 7.50 4.767 5.389 5.971 6.515 7.024 9 10 11 10 9.787 9.253 8760 8.306 7.39

7 0

3 years ago

Spending plans are divided into three categories with roughly ______% of the after tax budget going to the category of needs and

kati45 [8]

Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .

<h3>What is the 50-30-20 budget method?</h3>

The 50-30-20 approach that is often used in budgeting is known to be one one the of the simplest and very straight way in the aspect of money management options.

Note that this ideal is often made for those who need to form a budget but they are said to not possess the time or the patience to be able to keep track of their spending in a well detailed manner.

The ways is that one need to spend 50 percent of their after-tax pay on needs, 30 percent in regards to wants, and the last 20 percent in regards to savings or paying off any kind of debts.

Hence, Spending plans are divided into three categories with roughly 50 % of the after tax budget going to the category of needs and 30% of the after tax budget going to wants, with the rest going to 20 % .

Learn more about budget method from

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5 0

2 years ago

The following facts apply to the pension plan of Culver Inc. for the year 2017. Plan assets, January 1, 2017 $495,100 Projected

tiny-mole [99]

Answer and Explanation:

The preparation of pension worksheet is shown below:-

General Journal entries

Particulars Annual pension Cash Pension Assets/

expenses Liabilities

Service cost $43,700 Dr.

Interest cost $39,608 Dr.

(495,100 × 8%)

Actual return $52,100 Cr.

Contributions $26,600 Cr.

Journal Entry 31 Dec $31,208 Dr. $26,600 Cr. $4,608 Cr.

Balance 31 Dec 217 $4,608 Cr.

Memo record

Projected benefit obligation Plant assets

Balance Jan 1 2017 $495,100 Cr. $495,100 Dr.

Service cost $43,700 Cr.

Interest cost $39,608 Cr.

(495,100 × 8%)

Actual return $52,100 Dr.

Contributions $26,600 Dr.

Benefits $36,500 Dr. $36,500 Cr.

Balance 31 Dec 217 $541,908 Cr. $537,300 Dr.

4 0

3 years ago

In Kravonia, the average salary for jobs requiring a college degree has always been higher than the average salary for jobs that

kiruha [24]

Answer: <em>Option (C) is correct.</em>

Explanation:

From the given comprehension, the argument depends upon the assumption that "The higher average salary for jobs which requires a degree from college is not due broadly to a paucity among the Kravonian workforce of individual which have a college degree."

Therefore, in case demand decreases, then the salary for jobs that require a degree from college will not increase. Thus on such basis, conclusion will be repudiated.

7 0

4 years ago

Explain how self-interest and competition work together to regulate prices.

Katena32 [7]

Answer:

- Self-Interests exist in both customers and the companies who sells the product.

Self-interest held by the companies will determine how much profit that they desire to acquire. Some owner wanted a high profit margin, some wanted lower , etc. Self-interest held by customers will determine the type of value that the consumers expect from the product and how much money they're willing to pay to obtain it.

Both of this will create a push and pull in the market. Eventually, the price will fall to the spot where both sellers and consumers believe as 'fair.'

- Competition is an additional factor to regulate prices that tends to be beneficial for the customers.

The existence of competition make consumers have more than one option in order to obtain a similar product. This <u>make companies have to reduce their self-interest and offer prices that can compete with the competitors.</u>

This tend to bring the prices lower from the initial equilibrium.

7 0

3 years ago

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