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TEA [102]
3 years ago
13

Determine the future value of $21,000 under each of the following sets of assumptions (FV of $1, PV of $1, FVA of $1, PVA of $1,

FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount.):
Annual Rate Period Invested Interest Compounded Future Value
(a) 10% 8 years Semiannually $ _____
(b) 12% 4 years Quarterly $ _____
(c) 36% 25 months Monthly $ _____
Business
1 answer:
Marat540 [252]3 years ago
7 0

Answer:

(a) $43,656.90

(b) $33,698.70

(c) $43,967.70

Explanation:

Future Value of annuity shall be:

(a) 10% for 8 years, Semiannually compounded

In this since the interest is compounded semiannually, the effective interest rate = 10/2 = 5%

Future Value of $1 in 8 years with 10% interest compounded semiannually = 2.0789

Value of $21,000 = $21,000 \times 2.0789 = $43,656.90

(b) 12% for 4 years, Quarterly Compounded

In this since the interest is compounded quarterly, that is 4 times in a year, effective interest rate = 12/4 = 3%

Future value of $1 in 4 years with 12% interest compounded quarterly = 1.6047

Value of $21,000 = $21,000 \times 1.6047 = $33,698.70

(c) 36% 25 months, Monthly

In this since the interest is compounded monthly effective interest rate = 36/12 = 3%

Therefore, Future Value of $1 in 25 months @36% compounded monthly = $2.0937

Value of $21,000 = $21,000 \times 2.0937 = $43,967.70

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Magic City Enterprises manufactures a beautiful bookcase. Listed below are a number of costs incurred. Identify each cost as eit
FrozenT [24]

Answer:

1. Factory Rent  = Fixed , Product (Indirect Cost)

2. Advertising   = Fixed , Period

3. Packing Supplies for Shipping  = Variable, Period

4. Factory Security Guard  = Fixed, Product (Indirect Cost)

5. Wages of Employees Who Sand the wood  = Variable, Product (Direct Cost)

6. Administrative Assistant in Corporate office  = Fixed , Period

7. Paper Towels in the Men's Room in the Factory  = Fixed , Product (Indirect Cost)

8. Executive Jet  = Fixed, Period

9. Lumber  = Variable, Product (Direct Cost)

10. Depreciation on Factory Tools (Straight-Line) = Fixed, Product (Indirect Cost)

Explanation:

Product versus Period Cost.

A product cost is attached to the cost object and is included in the valuation of the cost object.All manufacturing costs are product costs.

Period costs are not attached to the products. Non-manufacturing costs are Period costs.

Fixed versus Variable.

Behavior of costs in relationship with Activity will tell us whether a cost is a Fixed cost or Variable Cost.

Fixed Costs remain the same for any level of activity, whilst variable costs vary in direct proportion to with the level of activity.

Direct versus Indirect.

By observation of the cost object, we are able to identify is a cost is a direct cost or indirect cost.

Direct costs can be easily traced on the cost object. Indirect costs are difficult to trace on the cost object.

4 0
3 years ago
Match each region of Virginia to its main source of income,
Svetach [21]

Answer:

Piedmont   ⇒ government jobs. The northern part of Virginia is loaded with federal government workers and federal agencies. Even though the Piedmont region is much larger, its main source of income comes from government jobs mainly located at the northern part (near Washington D.C.)

Appalachian Plateau  ⇒ coal mining. Coal is one of Virginia's most valuable natural resources and it is mined in the Appalachian Plateau region (west of the state).

Blue Ridge Mountain  ⇒ farming. The major economic activities in the Blue Ridge Mountain region of Virginia include farming, livestock, lumber and tourism.  

Coastal Plain  ⇒ tourism. The main sources of income include tourism, shipbuilding and military contractors.

Explanation:

Principal economic activities there include livestock raising, farming, tobacco growing, and lumber production. Commercial apple orchards are found in Virginia, Maryland, and Pennsylvania. The Blue Ridge is a major East Coast recreation area noted for its resorts and scenery. The Appalachian Trail winds atop the range.

5 0
3 years ago
Read 2 more answers
when an auditor of financial statements has substantial doubt about an entity's ability to continue as a going concern, the audi
tangare [24]

If information about an entity's ability to continue as a going concern is not disclosed in the financial statements, an auditor of financial statements is likely to express an adverse opinion.

<h3>Define a qualified or adverse opinion.</h3>

A remark made in an auditor's report that is attached to a company's audited financial statements is known as a qualified opinion. According to an auditor's judgment, a company's financial information may have been incomplete or there may have been a significant problem with how generally accepted accounting standards (GAAP) were applied, but the problem was not widespread.

With one or more exceptions, the financials often reflect the company's success and position. The financial statements are inaccurate or do not adhere to widely accepted accounting rules, in our opinion (GAAP).

To know more about qualified opinion, visit:

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7 0
1 year ago
Darren is eligible to contribute to a traditional 401(k) in 2019. He forgot to contribute before year-end. If he contributes bef
Irina18 [472]

Answer:

True

Explanation:

Base on the scenario been described in the question which, Darren was eligible to assist to a traditional of 401,000 in 2019, but we were told he forgot and later he paid in 15, June 2020, he is look as though he paid in 2019 because and it is true.

The reason why the answer is true is that Darren is that the time he paid the money in July 15, 2020, it was still within the time he allowed to still pay for the year 2019, that's why he considered as though he paid in 2019.

5 0
3 years ago
American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. I
In-s [12.5K]

Answer: 19.56%

Explanation:

Effective Rate of Return is the rate that takes into account, the compounding influence of interest rates in a given period.

It is calculated with the formula,

= ( 1 + r/n) ^ n - 1

Where

r = APR

n = no of compounding periods in a year

Interest is paid monthly so nnumber of periods will be 12.

Therefore,

EFF = ( 1 + 18%/12)¹² - 1

EFF = 19.56%

5 0
3 years ago
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