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
Kipish [7]
3 years ago
11

You decide to save a uniform amount at the end of each month for 12 months so you will have $1000 at the end of 1 yr. The bank w

here you have a savings account pays 6% interest per annum compounded monthly. How much money do you need to deposit each month
Business
1 answer:
vitfil [10]3 years ago
5 0

Answer:

$81.13

Explanation:

first we must calculate the effective monthly interest rate:

1.06 = (1 + i)¹²

1.004868 = 1 + i

i = 0.4868%

the future value of this annuity is given, but we need the monthly contribution:

monthly contribution = future value / FV annuity factor

future value = $1,000

FV annuity factor, 0.4868%, 12 periods = 12.32656

monthly contribution = $1,000 / 12.32656 = $81.13

You might be interested in
Will feckless unexpectedly inherits $10,000 from a rich uncle. he is observed to consume fewer hamburgers than he used to.
daser333 [38]
<span>This would show that Will does not have a homothetic preference for hamburgers. Such preferences are shown to not be effected by income or scale, and since Will has changed his eating preferences based upon this new source of income, such a description would not fit this good.</span>
3 0
3 years ago
In its first month of operations, Culver Company made three purchases of merchandise in the following sequence: (1) 205 units at
Oksi-84 [34.3K]

Answer:

$2,450 ; $1,430

Explanation:

The computation of the ending inventory using the periodic inventory system is shown below:

Under FIFO method

= 245 units × $10

= $2,450

We take the last units in this FIFO method

Under the LIFO method

= 205 units × $6 + 40 units × $5

= $1,230 + $200

= $1,430

We take the first units in this LIFO method

Hence, the closing inventory is come

3 0
3 years ago
If the market interest rate for a bond is higher than the stated interest rate, the bond will sell at:__________
Gwar [14]

Answer:

a. a discount

Explanation:

Options are <em>"a. a discount. b. a premium, c. par, d. either a discount or premium"</em>

If the market interest rate for a bond is higher than the stated interest rate, the bond will sell at <u>a discount.</u> If Bond Coupon rate (Stated Interest rate) is Lower than YTM (Market Interest Rate) or YTM > Coupon rate Then Bond is selling at a Discount.

5 0
3 years ago
Georgie has gross income of $5,000 from an activity that has been deemed to be a hobby by the IRS. Her expenses related to the a
Elina [12.6K]

Answer:

$5,000 Schedule A (Itemized Deductions)

Explanation:

Solution

We recall that:

George gas a gross income of =$5000

Property taxes =$3000

Operating expenses of =$1500

Deprecation expense of =$800

Now

Normally As per IRS, hobby expenses are normally subtracted up to the hobby income . hobby is pursued as enjoyment and not for making profits hence can not be termed as Profit and loss from business

Therefore George deductible expense for the year is $5,000 it would be taken from Schedule A (Itemized Deductions).

8 0
3 years ago
Interviewers are told to select a fixed number of men and a fixed number of women from certain city blocks, although the choice
inn [45]

Answer:

quota sample is the correct answer.

Explanation:

3 0
3 years ago
Other questions:
  • A pharmacy company wants to add flu shots to its list of services. It releases a code for free shots online using____ . It creat
    13·2 answers
  • A reserve requirement of 20 percent implies a potential money deposit multiplier of
    6·1 answer
  • Assume that Mr. and Mrs. Davis did not sign the lease agreement, but upon taking possession of the apartment on August 1 were ha
    14·1 answer
  • Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee de
    9·2 answers
  • The __________ is a graphical representation of the term structure of interest rates.
    13·1 answer
  • Where would the HIGHEST air pressure be measured
    15·1 answer
  • Which of the following statements about capitalism and socialism is correct?
    14·1 answer
  • Zenephia Corp. accepted a 9-month note receivable from a customer on October 1, 2019. If Zenephia has an accounting period which
    13·1 answer
  • You are given the following information concerning Around Town Tours:Debt: 7,500, 6.8 percent coupon bonds outstanding, with 11
    11·1 answer
  • Belinda is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Beli
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!