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saul85 [17]
3 years ago
9

Suppose your salary in 2016 is $30,000. Assuming an annual inflation rate of 3%, what salary do you need to earn in 2022 in orde

r to have the same purchasing power
Business
1 answer:
Lelu [443]3 years ago
5 0

Answer:

$35821.5

Explanation:

Using compound formula

A= P( 1+ r/ n)^ nt

A= amount

t= time period

n=Number of years

2016----2022= 6years

Substitute for the values we have

A= $30,000[ 1+ (3/100)/1]^ (6)

A= $35821.5

Hence, salary you need to earn in 2022 in order to have the same purchasing power is $35821.5

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Mel is a salesperson for a technology services company. He wants to expand collaborative involvement between his company and his
galina1969 [7]

Answer:

I couldn't find any possible options, but if Mel wants to expand collaborative involvement between companies, he should try to make them work together.

Mel is probably trying to sell a new software or technological device to his client, and in order to try to convince the client that his offer is the best, he could suggest that the engineers from his company work together with the engineers of the buying company in order to solve any issues or doubts that may exist. This doesn't necessarily mean that they have to come together and work side by side, now you can work together using Skype of other communications app.

3 0
3 years ago
Which living expense needs to be included in the budget of someone renting an apartment?.
scoundrel [369]

Answer:

insurance

Explanation:

a living expense that should be included in the budget when someone is going to rent an apartment should be the insurance

hope this helps

6 0
2 years ago
Matt Newell, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views
Keith_Richards [23]

Answer:

Labor

Explanation:

Factor of production: There are several resources that are required in the process of production or running any business to meet the required goal of the business.

There are four factor of production:

  • Land
  • Labor
  • Capital.
  • Entrepreneurship.

In the given case, Matt Newell is an Entrepreneur as he has started a new helicopter tour company, for which he acquired land and capital from the loan, however, he has not to manage labor for his business. Labor is essential to run any business.

4 0
3 years ago
What does the credit balance in the accumulated depreciation account represent?
labwork [276]
The credit balance in the accumulated depreciation account represent: <span> the amount of depreciation taken in past years
In accounting, we must reduce the value every year we held an asset in order to show the true amount of the total asset values. This occurence is called a depreciation. If the amount of depreciation is add-up for several years, this account is called accumulated depreciation
</span>
3 0
3 years ago
Which of the following is a correct statement? Multiple Choice Writing off an uncollectible account under the allowance method d
jok3333 [9.3K]

Answer:

Estimating un-collectible accounts expense improves the matching of revenues and expenses.

Explanation:

When uncollectibles are recorded through allowance method then, bad debts expense is provided, which reduces net income. But at the time of writing off only the allowance and accounts receivables account is affected and not the net income.

When direct method is used then also the net income gets reduced, as bad debt expense and accounts receivables is affected.

And as provided in first para, when estimating and creating the allowance for bad debts, it affects net income, and it also represents the true and fair view of expenses and income.

Thus, statement c is correct.

4 0
4 years ago
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