Answer:
Salvage value
Explanation:
Salvage value is the value of an asset after all depreciation expenses has been expensed.
For example, an asset cost $500,000, it has a 2 year useful life. the depreciation percentage is 20% for each of the useful life of the asset, the salvage value =
Cost of the asset - accumulated depreciation
accumulated depreciation = 2 x($500,000 x 0,2) = $200,000
Salvage value = $500,000 - $200,000 = $300,000
$300,000 is the estimated amount of money that can be expected from some buyer at the end of asset’s useful life
Answer: $6,814
Explanation:
Given that,
Initial price of chewing gum = $58
New price of chewing gum = $69
Initial price of cigarette = $39
New price of cigarette = $191
As per the budget equation,
Income with Initial price = Initial Price of chewing gum × quantity of chewing gum + Initial Price of cigarette × quantity of cigarette
= $58 × 76 + $69 × 49
= $4,408 + $3,381
= $7,789
Income with New price = New Price of chewing gum × quantity of chewing gum + New Price of cigarette × quantity of cigarette
= $69 × 76 + $191 × 49
= $5,244 + $9,359
= $14,603
Rise in income required = Income with New price - Income with Initial price
= $14,603 - $7,789
= $6,814
So, there is a need to rise the income by $6,814 and to become $14,603 to maintain the similar level of consumption.
<span>Competition and the price of goods and services have a direct relationship. If there is more competition in a specific market then prices tend to lower; this is a good thing for consumers. For example; two companies are competing to sell more cell phones than their rival. If one company figures out a way to lower production costs and sales, the other will soon follow to keep up with the competition. </span>
Answer:
The value of the island as of 2012=$3,624,771,902
Explanation:
To determine the future value of the 1626 investment, use the expression below;
F.V=P.V(1+r)^n
where;
F.V=future value of investments
P.V=present value of the investment
r=annual interest rate
n=number of years
In our case;
F.V=unknown
P.V=$24
r=5%=5/100=0.05
n=386 years
Replacing;
F.V=24(1+0.05)^386
F.V=24(1.05)^386
F.V=$3,624,771,902
The value of the island as of 2012=$3,624,771,902