1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
drek231 [11]
3 years ago
10

Michael earns $3,950 every month after taxes and deductions for social security and insurance. He puts $900 a month into savings

. He wants to buy a $30,000 boat. He only has $11,000 saved up for this major purchase. He is willing to postpone the purchase for 2 years (24 months) in order to reach a savings goal of $30,000. Will Michael be able to afford the boat in two years if he continues to save $900 a month?
Business
1 answer:
krek1111 [17]3 years ago
6 0

Answer:

Yes, Michael will afford the boat

Explanation:

So far Michael has saved $11,000.

The boats costs $30,000 to purchase.

Michael needs to raise $19,000  ($30,000 - $11,000) in two years to buy the boat.

Michael saves $900 per month. In 24 months he will have saved

=$900 x 24

=$21,600

Michael requires $19,000 but will have save $21,600 in two years. Therefore, he should be able to purchase the boat.

You might be interested in
A company sold $12,000 worth of bicycles with an extended warranty. it estimates that 2% of these sales will result in warranty
Otrada [13]
I think the answer for your question you have to divide then you get 6,000
7 0
3 years ago
PLEASE HELP MEE!
zzz [600]

Answer:

Differentiator

Explanation:

I'm not sure about it but honestly I think its the one, since Karen is suing something different that hasn't been seen on other Italian pasta cookers.

7 0
2 years ago
Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1
yaroslaw [1]

Answer:

Mijka Company

a. Journal Entries

Debit Cash $30,400

Credit Service Revenue $30,400

To record the proceeds for services provided.

Debit Expenses $13,800

Credit Cash $13,800

To record the payment of cash for services.

Debit Dividend $2,100

Credit Cash $2,100

To record the payment of cash dividend.

b. Income Statement for the year ended December 31, 2018:

Service Revenue     $30,400

Expenses                   13,800

Net Income             $16,600

Dividends                   (2,100)

Retained earnings $14,500

Statement of Changes in Stockholders' Equity as of December 31, 2018:

Retained Earnings    $14,500

Balance Sheet as of December 31, 2018:

Assets:

Cash                       $14,500

Equity:

Retained Earnings $14,500

Explanation:

a) Data and Calculations:

Cash revenue $30,400

Cash expense  (13,800)

Cash dividend    (2,100)

Cash balance  $14,500

5 0
2 years ago
Marco wants to cancel his department store credit card so he threw it away after he paid last month's balance. Was this a good i
ANTONII [103]

Answer:

1. No, becuase someone could steal it.

2. No, becuase the fine you get for not paying a bill will grow.

Explanation:

3 0
3 years ago
One year ago, Stacey purchased 100 shares of KNF stock for $3,245. Today, she sold those shares for $35.00 per share. What is th
Nataly [62]

Answer:

7.86%

Explanation:

The computation of the capital gain yield on the investment is shown below:

As we know that

Capital gains yield is

= (Selling price per share × number of shares purchased) ÷ (Stock value) - 1

= $3,500 ÷ $3,245 - 1

= 0.07858

= 7.86%

We simply applied the above formula so that the capital gain yield could come and the same is to be considered

3 0
3 years ago
Other questions:
  • In the event a policy is delivered by an agent to the insured, and the premium payment is to be collected at the time of this de
    9·1 answer
  • A registered investment company whose share price fluctuates independently of its net asset value is most likely
    15·1 answer
  • Buxmont Manufacturing reported the following year-end balances: Beginning work in process inventory, $40,000; beginning finished
    13·1 answer
  • We know that the market should respond positively to good news and that good-news events such as the coming end of a recession c
    8·1 answer
  • 2015 S.A youth unemployment
    11·1 answer
  • Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses flexible budgets that
    13·1 answer
  • Demand is created through meeting customer buying criteria, credit terms, awareness (promotion) and accessibility (distribution)
    6·1 answer
  • HELPPP ILL MARK BRAINLIEST!!!!
    13·2 answers
  • Question 9 of 10
    12·1 answer
  • Jack and marcus have just graduated college. they roomed together at state university and now want to continue their friendship
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!