The annual average rate of return can be calculated by calculating the average of three years annual return on the investment.
It is given that the investment earned a positive return of 13.1% in the first year, a negative return of -4.3% in the second year and a positive return of 5.9% in the third year.
Hence the annual average rate of return shall be (13.1-4.3+5.9)/3 =<u> 4.9%</u>
Answer: Company Pays $1640
Carol Bryd pays $410
Explanation:
The total bill is $2300 and the deductible needs to be taken out.
$2300-$250
=$2050
Company Payment.
Company Pays 80% which translates to 0.8
0.8*2050
= $1640 is the company Payment.
Carol then pays the difference which is
$2050 - $1640
= $410
Carol pays $410
The account holder tries to take out more money than the account contains.
Answer:
Company's current ratio is 2.4
Explanation:
Current ratio = Current assets / Current liability
Current ratio = 46,880/19,500
Current ratio = 2.404 =2.4
<u>WORKINGS</u>
Current assets:
Account Receivable= 29,500
Office supplies 4,800 (Assuming they are stocks of supplies)
Prepaid insurance 4,680
Cash 7,900
Total current assets=46,880
Current liabilities
Account Payable 13,500
Unearned services revenue 6,000
Total current liability= 19,500
Answer:
73 years
Explanation:
To solve this problem, we can use the formula for the annual compound interest, which is:
where:
A is the final amount after time t
P is the principal
r is the rate of interest
t is the time
In this problem, we have:
is the principal
is the interest rate (5.5%)
We want to find the time t at which the amount of money is
A = $100,000
Therefore, we can re-arrange the equation and solve for t:
So, it will take 73 years.
