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Bad White [126]
3 years ago
12

Fowler credit bank is offering 6.9 percent compounded daily on its savings accounts. you deposit $5,300 today. how much will you

have in the account in 4 years?
Business
1 answer:
Akimi4 [234]3 years ago
6 0
Principal, P = $5,300
Rate, r = 6.9% = 0.069
Compounding interval, n = 365
Time, t = 4 years

Note that n*t = 365*4 = 1460.
The value after 4 years is
A = 5300*(1 + 0.069/365)¹⁴⁶⁰ = 5300*1.3178 = 6984.41

Answer: $6,984.41
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Answer:

Balance sheet, what amount should Farley report as allowance for uncollectible accounts?

if we take the final balance of accounts receivable   $582000

If the wrotte off difference affects the final balance and we do not register additional expenses. $469000

Explanation:

Credit balance allownace  523000

Allowance for uncollective 3%

 

Wrotte off                               636000

 

Credit sales                         19400000

Allowance for uncollective              3%

                                             582000

 

 

Credit balance                        523000

Wrotte off                                636000

                                             -113000

 

Allownace for uncollectible      469000

4 0
3 years ago
1. Dominic Joseph deposits $5,000 in a new savings account at his local bank. The account pays 5.5 percent interest compounded a
klasskru [66]

Answer:

The future value is $6,894.21

Explanation:

Giving the following information:

Dominic Joseph deposits $5,000 in a new savings account. The account pays 5.5 percent interest compounded annually.

To calculate the future value, we need to use the following formula:

FV= PV*(1+i)^n

PV= 5,000

i= 0.055

n=6

FV= 5,000*(1.055)^6= $6,894.21

5 0
3 years ago
At December 31, 2016, Finzelberg Company had a credit balance of $15,000 in Allowance for Doubtful Accounts. During 2017, Finzel
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Answer:. ............$

1. Bad debt Dr. 11.0000

Account receivable Or. 11.000

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Narration. Increase in provision for doubtful debts.

7 0
3 years ago
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Answer:

A SWOT analysis is an evaluation of your company's strengths, weaknesses, opportunities, and threats.

Explanation:

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2 years ago
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