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Masja [62]
3 years ago
14

You want to buy your dream car which will cost you $5900. If you could invest your entire savings of $3500 at an annual interest

of12%, how long (in years rounded to two decimal places) would you have to wait until you have accumulated enough money to buy the car?
Business
1 answer:
Liula [17]3 years ago
7 0

Answer:

t = 4.607742347 years rounded off to 4.61 years

Explanation:

To calculate the number of years it will take an investment of $3500 to grow to $5900 at an annual interest rate of 12%, we will use the formula for the future value of cash flows. The formula can be written as follows,

Future value = Present value * (1+i)^t

Where,

  • i is the interest rate
  • t is the time in years

Plugging in the values for future value, present value and i, we can calculate the t to be,

5900 = 3500 * (1+0.12)^t

5900 / 3500 = (1.12)^t

1.685714286 = 1.12^t

Taking log on both sides.

Ln(1.685714286)  /  Ln(1.12)  =  t

t = 4.607742347 years rounded off to 4.61 years

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8 0
3 years ago
La Famiglia Pizzeria provided the following information for the month of October:
Dennis_Churaev [7]

Answer:

a

The cash receipts in October are as follows:

Cash Sales:

85% of $157,000

= 0.85 * $157,000

= $133,450

Payments on September credit sales:

$181,500 * 28% * (80 - 75)%

= $181,500 *0.28 * 15%

= $181,500 * 0.28 * 0.15

= $7,623

Payments on October credit sales** 16,485

$157,000 * 70% * (85 - 70)%

$157,000 * 0.7 * 15%

= $157,000 * 0.7 * 0.15

= $16,485

Total cash expected = $133,450 + $7,623 + $16,485 = $157,558

b.

Payments for food purchases is as follows:

September

($130,000 × 0.75) = $97,500

October

($116,000 × 0.25) = 29,000

Total cash needed for June = $97,500 + $29,000 = $126,500

c.

The inventory is as follows:

Beginning balance $2,147

Cash receipts $157,558

Cash available $159,705

The following items will be subtracted:

Food purchases $126,500

Shareholder's Dividend $6,000

Workers’ wages in September $730 ---- 10% of $7,300

Workers’ wages re: October $6,570 --- 90% of $7,300

Utilities $5,590

Insurance $1,200

Rent $4,100

Total disbursements $150,690

Ending balance

= $159,705 - $150,690

= $9,015

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3 years ago
The accounting records for Eisner Manufacturing Company included the following cost information relating to its first year of op
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Answer:

Option (d) : $24.8 and $15.7

Explanation:

As per the data given in the question,

Number of units produced = 10,000

Number of units sold = 6,000

Cost per unit = Amount/ 10,000

                                                               Absorption            Variable  

Direct material                                                $5.2                 $5.2

Direct Labor                                                    $8                     $8

Variable manufacturing overhead                  $2.5                  $2.5

Fixed manufacturing overhead                       $9.1                  $9.1

Unit product cost                                           $24.8                $15.7

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So they could try to get there money back
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Answer:

Answer - A

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SkillsUSA has an automotive "skill" in which students in high school can learn about the automotive industry.

3 0
3 years ago
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