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Igoryamba
3 years ago
6

Your younger sister is just starting high school, and 4 years from today she should be entering college. Your father plans to st

art a college fund for her, beginning today. He will invest $6,000 per year in a mutual fund, beginning today, and he expects to earn an annual return of 9%. What is the expected value of the college fund when your sister enters college
Business
1 answer:
Gre4nikov [31]3 years ago
3 0

Answer:

$29,908.26

Explanation:

The formula for calculating future value:

FV = P (1 + r) nm

FV = Future value  

P = Present value  

R = interest rate  

m = number of compounding

N = number of years  

Present value value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow from year 0 to 3 = 6000

I = 9%

PV = 21,187.77

FV = 21,187.77 X (1,09)^4

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

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i agree with joe pie what he said

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3 years ago
jameson machinery inc. wants to release their newest equipment in the south american market before other companies in order to e
Natasha_Volkova [10]

Based on the actions of Jameson Machinery Inc, we can infer that they want to benefit from<u> First Mover Advantage. </u>

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First Mover Advantage:

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  • Gives the brand a competitive advantage and customer loyalty over other competitors
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In trying to get to South America first and having their brand established, Jameson hopes to benefit from first mover advantage which would see them have a competitive advantage over competitors that come later.

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<em>Find out more at brainly.com/question/14663095. </em>

3 0
3 years ago
The auditor begins selecting controls to test by _______. by understanding the entity and the business and determining the risk
Gemiola [76]

Answer:

by understanding the entity and the business and determining the risk of material fraud or error at the financial statement level.

Explanation:

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.

An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.

Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.

In order to start the selection of controls to test, an auditor has to understand the entity and the business, as well as determine the risk of material fraud or error at the financial statement level.

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.

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6 0
3 years ago
Will Jones, Pharoah is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a
Reika [66]

Answer:

Total cost for 316 returns $3,962

Total cost for 408 returns $4,974

Total cost for 524 returns $6,250

Explanation:

The total cost incurred by Pharoah with the Mega Tax software is given by the fixed cost of $486, referring to the annual fees, added to the cost per tax return of $11 multiplied by the volume of returns filed (n):

C= \$486+(\$11*n)

i. if 316 returns are filed?  (n = 316)

C= \$486+(\$11*316)\\C=\$3,962

ii. If 408 returns are filed?  (n = 408)

C= \$486+(\$11*408)\\C=\$4,974

iii. If 524 returns are filed? (n = 524)

C= \$486+(\$11*524)\\C=\$6,250

Total cost for 316 returns $3,962

Total cost for 408 returns $4,974

Total cost for 524 returns $6,250

6 0
3 years ago
Which of the following dose not apply to field
Natasha2012 [34]

Answer:

there are no options there ....

hope you may add the options

7 0
2 years ago
Read 2 more answers
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