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stealth61 [152]
2 years ago
13

Your grandparents put $10,200 into an account so that you would have spending money in college. You put the money into an accoun

t that will earn an APR of 4.19 percent compounded monthly. If you expect that you will be in college for 4 years, how much can you withdraw each month?
Business
1 answer:
expeople1 [14]2 years ago
5 0

Answer:

Monthly withdrawal = $ 231.17 per month

Explanation:

Below is the calculation:

Deposit amount in the bank = $10200

Interest rate earned by the deposit = 4.19%

Monthly interest rate = 4.19% / 12 = 0.34917%

Number of periods = 4 years x 12 = 48

Amount in the account = Monthly withdrawal x (P/A, 0.34917%, 48)

10200 = Monthly withdrawal x 44.12246

Monthly withdrawal = 10200/44.12246

Monthly withdrawal = $ 231.17 per month

You might be interested in
An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, cpa, and attorney. the firm's managers.
makvit [3.9K]

Answer:

"An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, CPA, and attorney."

Explanation:

An entrepreneurial team usually consists of 2 or more people with a great interest in the success and future of a company. The work of this team is interdependent as they pursue common goals for success for the venture. They are usually interested in the financial and other areas of a company and include the entrepreneur, the CPA, attorney, and the organization's banker.

8 0
3 years ago
The following refers to units processed by a breakfast cereal maker in August. Compute the total equivalent units of production
madam [21]

Answer:

Equivalent units of production= 746,000 units

Explanation:

Giving the following information:

Units completed 620,000 100%

Ending Work in Process 180,000 70%

<u>The weighted average method blends the costs and units of the previous period with the costs and units of the current period.</u>

<u></u>

Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production

Equivalent units of production= 620,000 + (180,000*0.7)

Equivalent units of production= 746,000 units

7 0
3 years ago
Why should a team leader refer any serious conflicts to Human Resources or
vovikov84 [41]

Answer:

B

Explanation:

just did it

8 0
3 years ago
Cleveland Company purchased $2,700 of inventory on account from Pinto Industries on March 8th. The terms were 2/15, n/45. Clevel
Gala2k [10]

Solution:

Accounts Payable          $2900

Cash                                $2691

Inventory                         $209

Cleveland didn't pay during the discount period,  

So the amount due is $2,700 - 450 = $2,250

Cash was charged in freight charges prior to delivery of the invoice.

4 0
2 years ago
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2018, manufacturing o
bixtya [17]

Answer:

$4,783.88

Explanation:

As for the provided information, the problem is based on activity based costing.

There are 3 activities:

i) Design Changes = $120,000 for 500 changes

Cost per change = \frac{120,000}{500} = $240 for each change

ii) Setups = $380,000 for 4,000 setups

Cost per setup = \frac{380,000}{4,000} = $95 for each setup

iii) Inspections = $100,000 for 9,000 inspections

Cost per inspection = \frac{100,000}{9,000} = $11.11

In case of Money Managers, there is printing of 70,000 pages

Design charges = 12 design changes \times $240 = $2,880

Setup charges = 17 setups \times $95 = $1,615

Inspection charges = 26 inspections \times $11.11 = $288.88

Total overhead cost for Money Managers = $2,880 + $1,615 + $288.88 = $4,783.88

4 0
3 years ago
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