Answer:
Instructions are listed below.
Explanation:
Giving the following information:
A) You want $1,000,000 when you retire in 40 years. It earns 6 percent annually.
We need to use the following version of the final value formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
FV= 1,000,000
n=40
i=0.06
A= (1,000,000*0.06) / [(1.06^40)-1]
A= $6,461.53
B) You decided to contribute $500 a month into a fund that is expected to earn 6 percent, compounded monthly. If you start the contribution a month from today for 30 years.
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
n= 30*12= 360
i= 0.06/12= 0.005
A= 500
FV= {500*[(1.005^360)-1]}/0.005= $502,257.52
Answer:
The price elasticity of demand for home heating oil is-0.36
Explanation:
In order to calculate the price elasticity of demand for home heating oil we would have to use the following formula:
Elasticity of demand = (dQ/dPhho)*(P/Q)
According to the given data we have the following:
demand for home heating oil in Connecticut=Q = 20 – 2 Phho + 0.5 Png – TEMP
current price of home heating oil=$1.20
current price of natural gas =$2.0
Therefore, if Q = 20 – 2 Phho + 0.5 Png – TEMP, then:
Q=20 – 2*1.2 + .5*2 – 12
Q=6.6
Therefore, price elasticity of demand = (-2)*(1.2/6.6)
price elasticity of demand =-0.36
The price elasticity of demand for home heating oil is-0.36
Answer: The correct answer is "c.Crow will have a business deduction of $120,000 for the value of the services Mary will render.".
Explanation: With respect to the transfers: Crow will have a business deduction of $120,000 for the value of the services Mary will render.
This is calculated by the difference between the value of the property contributed by Earl $1 600 000 and the value of the property contributed by Mary $1 480 000.
1 600 000 - 1 480 000 = $ 120 000.
In a periodic inventory system, the cost of goods sold is not recorded as each sale that occurs is a true statement.
<h3>Periodic Inventory System</h3>
- A physical count of the inventory is conducted at predetermined intervals as part of the periodic inventory system, a technique of inventory valuation for financial reporting reasons.
- In order to calculate the cost of goods sold, this accounting method starts with an inventory at the beginning of the period, adds fresh inventory purchases throughout the period, and subtracts ending inventory.
- A corporation using the periodic inventory system won't be aware of its unit inventory levels or COGS until the physical count process is finished.
- For a company with a small number of SKUs operating in a sluggish market, this method might be suitable, but for all other companies, the perpetual inventory system is preferred.
Hence, the given statement is true.
To learn more about Periodic Inventory System refer to:
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