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3 years ago

The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called

Business

1 answer:

Helen [10]3 years ago

3 0

Answer:

Depletion

Explanation:

The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called Depletion

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Irene plans to retire on January 1, 2020. She has been preparing to retire by making annual deposits, starting on January 1, 198

worty [1.4K]

Answer:

$16,876

Explanation:

first we have to calculate how much money Irene saved until January 1, 2001:

P = PMT × [(1 + r)ⁿ - 1] / r

PMT = 2,300
r = 8.4%
n = 22

P = 2,300 × [(1 + 8.4%)²² - 1] / 8.4% = $134,089

if she stops making any more payments, in 19 years those $134,089 will be worth:

FV = PV x (1 + r)ⁿ

PV = $134,089
r = 8.4%
n = 19

FV = 134,089 x (1 + 8.4%)¹⁹ = $620,797

that means she still needs to get $1,350,000 - $620,797 = $729,203

we can use the first formula to determine the payments she will need to make during the next 19 years:

P = PMT × [(1 + r)ⁿ - 1] / r

P = 729,203
r = 8.4%
n = 19
PMT = ???

PMT = P / {[(1 + r)ⁿ - 1] / r}

PMT = 729,203 / {[(1 + 8.4%)¹⁹ - 1] / 8.4%} = 729,203 / 43.21 = $16,876

7 0

3 years ago

Starting a new business as a sole proprietorship

vovangra [49]

Third one - simpler and less expensive

5 0

3 years ago

What is the interest expense on December 31?

Ainat [17]

The interest expense on December 31 of the first year is <u>$5,250</u>.

<h3>What is the interest expense on bonds?</h3>

The interest expense for a bond that has the same coupon rate as the market rate is always the same for all periods of the bond.

This shows that the bond was issued at neither premium nor discount but at par.

<h3>Data and Calculations:</h3>

N (# of periods) = 20

I/Y (Interest per year) = 7.5%

PMT (Periodic Payment) = $5,250 ($140,000 x 7.5% x 1/2)

FV (Future Value) = $140,000

Results:

PV = $140,000.00

Sum of all periodic payments = $105,000 ($5,250 x 20)

Total Interest = $105,000

<h3>Schedule</h3>

Period PV PMT Interest FV

1 $140,000 $5,250 $5,250 $140,000

2 $140,000 $5,250 $5,250 $140,000

Thus, the interest expense on December 31 of the first year is <u>$5,250</u>.

Learn more about the interest expense of bonds issued at par at brainly.com/question/16995383

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4 0

1 year ago

at global airways, penny piper, manager of flight scheduling, needs to make a decision about flight scheduling. presently global

gogolik [260]

Answer:

Passengers Revenue

<h3>Explanation:</h3>

Passenger revenue means those monies wherever paid by passengers who are to embark at any U.S. port for water transportation and all other accommodations, services, and facilities relating thereto.
Revenue passenger miles are calculated by multiplying the number of paying passengers by the distance traveled.

To learn more about passengers revenue, refer

to brainly.com/question/25534066

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5 0

1 year ago

Which of the following statements is CORRECT?a. An investment that has a nominal rate of 6% with semiannual payments will have a

andreyandreev [35.5K]

Answer:

c. If a loan has a nominal annual rate of 7%, then the effective rate will never be less than 7%

<em>CORRECT</em>

as at least is recive 7% of the investment. If payment are made in shorter period (semiannually, quarterly, etc)

Then the effective rate will be higher, not lower.

Explanation:

a. An investment that has a nominal rate of 6% with semiannual payments will have an effective rate that is smaller than 6%

FALSE the effective rate will be higher as there is compounding effect.

b. The present value of a 3-year, $150 ordinary annuity will exceed the present value of a 3-year, $150 annuity due

FALSE the annuity-due is discounted for one period less, as the payment are made at the beginning of the period therefore; his V is greater.

d. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different

FALSE if it mades annual payments they will be equal

e. The proportion of the payment that goes toward interest on a fully amortized loan increases over time.

FALSE the interest will decrease over time as there is a portion of principal which is being paid each installment

3 0

3 years ago