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3 years ago

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1- You deposit $200 today, another $200 a year from now, and an additional $400 three years from now. If the interest rate is 5%

, what is the value of your investment in 5 years

1 answer:

MissTica3 years ago

8 0

Answer:

939.36

Explanation:

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n the 1930s, what caused Canada to respond by raising its tax on goods imported from the United States? the Glass-Steagall Act t

Misha Larkins [42]

In the 1930s Canada decided to raise taxes on goods imported in the United States in retaliation for the high tariffs that were created by the Hawley-Smoot Tariff. The Hawley-Smoot Tariff raised tariffs on nearly 20,000 imported goods to the United States to extremely high levels. This policy was put in place in an effort to protect American jobs following the Great Depression, but instead closed the U.S. economy off to the global market most likely hurting the American economy further.

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3 years ago

Mary buys an annuity that promises to pay her $1,500 at the end of each of the next 20 years. The appropriate interest rate is 7

alina1380 [7]

Answer:

PV= $15,291.74

Explanation:

Giving the following information:

Annual cash flow= $1,5000

Number of years= 20

Interest rate= 7.5%

To calculate the present value, first, we need to determine the future value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual cash flow

FV= {1,500*[(1.075^20) - 1]} / 0.075

FV= $64,957.02

Now, we can calculate the present value:

PV= FV/(1+i)^n

PV= 64,957.02/(1.075^20)

PV= $15,291.74

7 0

4 years ago

Amy and Mitchell share equally in the profits, losses, and capital of the accrual basis AM Products LLC. Amy is a managing membe

kvv77 [185]

Answer:

Amy's basis at beginning = $1,215,000

Amy's ending basis = $1,599,625

Explanation:

As per the data given in the question,

Amy's capital basis at beginning :

Beginning capital balance = $900,000

Amy's share in amount debt = $315,000

Amy's basis at beginning = $900,000+$315,000 = $1,215,000

Amy's ending basis :

Beginning capital balance = $900,000

Taxable income = $1,080,000 × 50% = $540,000

Interest income = $10,800 × 50% = $5,400

Net short term capital gain = ($27000 - $9000) × 50% = $9,000

Total = $1,454,400

Charitable contribution = $10,850 × 50% = $5,425

Cash distribution to Amy = $54,000

Total = $1,454,400 - $5,425 - $54,000 = $1,394,875

Amy's share of debt = $409,500 × 50% = $204,750

Amy's ending basis = $1,394,875 + $204,750 = $1,599,625

8 0

3 years ago

On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules,

Lisa [10]

Answer and Explanation:

The journal entries are given below:

1. Notes receivable A/c Dr $450,000

To Cash A/c $450,000

(To record the notes receivable acceptance)

2. Interest receivable A/c Dr $40,500

To Interest revenue $40,500

(to record the interest is collected)

Interest = Principal × rate of interest × number of months ÷ (total number of months in a year)

= $450,000 × 12% × (9 months ÷ 12 months)

= $40,500

The 9 months is calculated from April 1 to December 31

3. Cash A/c Dr $504,000

To Notes receivable A/c $450,000

To Interest receivable A/c $40,500

To Interest revenue A/c $13,500

(To record the cash collected)

Interest revenue = Principal × rate of interest × number of months ÷ (total number of months in a year)

= $450,000 × 12% × (3 months ÷ 12 months)

= $13,500

The 3 months is calculated from December 31 to April 1

3 0

3 years ago

Rancher Hiram Walker purchased Rose, a cow, for $850 in the hope that she would breed calves. After several years of effort, Wal

Furkat [3]

Answer: Mutual mistake

Explanation:

A mutual mistake in a contract is a situation that arises when the parties in a contract make the same mistake in reference to a significant fact in the contract. i.e., they are mutually ignorant of a fact of the contract.

Had they both known about that mistake, they might not have gone into the contract so the contract is voidable in this scenario.

Both Walker and Sheerwood were mutually mistaken about the fact that Rose was pregnant when they went into the contract so this contract is voidable by this theory.

8 0

3 years ago