Let n = the number of years that payments were made.
Assume that the compounding interval is 12 (monthly).
The 1st payment acquires the value
The 2nd payment acquires the value
and so on.
The value of the payments forms a geometric series
The sum of the geometric series is 247014, therefore
Answer: 22 years
A sense of urgency - in order for the business to grow, it has to have a sense of urgency and refrain from procrastination. It has to act fast and not be left behind by new business. Plan and act are the keywords.
Building a guiding coalition - a business cannot stand alone. It needs people to help it grow. We have to interact with others who may be able to help us with ideas and purpose.
Form strategic visions and initiatives - we have to know what we want in the future and must act to become that future.
Enlist a volunteer army - get someone knowledgeable and enthusiastic to start going with the future vision of the company.
Enable action by removing barriers - Have a straight vision of what you want for your business, don't look at the different direction that will just hamper your growth. Do strategies, visioning and have focus.
Sustain Acceleration - when you are gaining your goal, don't stop. Just continue to grow and make the most of every opportunity.
Institute Change - Be adaptive to the changing world. Upgrade and go with how things flow without sacrificing your goal.
<span>entries for cash dividends required on Declaration date and the payment date.A payment date is the date on which a declared stock dividend is scheduled to be paid.</span>
Answer:
Ending WIP= $25,000
Explanation:
<u>To calculate the ending work in process, we need to use the following formula:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
890,000 = 60,000 + 330,000 + 210,000 + 315,000 - Ending WIP
Ending WIP= 915,000 - 890,000
Ending WIP= $25,000
Answer:
the price elasticity of demand is -0.77
Explanation:
The computation of the price elasticity of demand is as follows;
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
Here,
Change in quantity demanded is
= Q2 - Q1
= 14 - 12
= 2
And, average of quantity demanded is
= ( 14 + 12) ÷ 2
= 13
Change in price is
= P2 - P1
= $180 - $220
= -$40
And, average of price is
= ($180 + $220 ) ÷ 2
= 200
So, after solving this, the price elasticity of demand is -0.77