Answer:
number of periods = 8 years.
Explanation:
We know,
Future Value = Present value × 
Here,
Present value = PV = $2,500
Future value = FV = $3,500
Interest rate (Compounding) = 5% = 0.05
We have to determine how many years (Periods) it will take, n = ?
Putting the values into the above formula,
$3,500 = $2,500 × 
or, = $3,500 ÷ $2,500
or, n log 1.05 = 1.4
or, n × 0.17609 = 1.4
or, n = 1.4 ÷ 0.17609
Therefore, number of years = 7.95 or 8 years.
An
example of a case where a cost and revenue function do not have a break
even point includes, when the profit margin is larger than the losses
of the business.
Answer:
Warranty of fitness for particular purpose.
Explanation:
Under the principle of implied warranty, products must be fit for the particular use for which they are intended. What does one do with a drink other than drink it ? Therefore, there was no need for Wanda to inform Kelly about the purpose, as Kelly is aware of the purpose for which Wanda wants the product.
Hence, it is seller Kelly's duty to ensure that the goods are suitable for that purpose.In other words, there was an implied warranty that the drink was fit to be consumed.
Answer:
b. Debit cash and d. Credit note payable
Explanation:
On borrowing from the bank, the entries to be posted by Pluto Inc. will be;
Debit Bank/Cash account $3000
Credit Credit note payable $3000
The credit represents the liability which is the obligation to payback the loan at a future date.
The right options are; b. Debit cash and d. Credit note payable.
