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ElenaW [278]
3 years ago
10

You want to save at least $10,000 for a down payment on a new car. In cell B6, enter a formula to calculate how much you will ha

ve saved by putting away $500 per month for 24 months at a 1.5% annual interest rate. Use the appropriate cell references. Remember to use a negative value for the Pmt argument. There is no money in the account yet and payments are applied at the end of every month, so omit both the Pv and Type arguments. (Hint: Use the FV function.)
Business
1 answer:
Ilya [14]3 years ago
4 0

Answer:

$14,316.76

Explanation:

How much you will have saved?

<em>Using MS Excel to calculate the FV function</em>

= FV(Rate, Nper, Pmt)

= FV(1,5%, 24, 500)

= 14316.7604

= $14,316.76

So, the total amount you will have saved by putting away $500 per month for 24 months at a 1.5% annual interest rate is $14,316.76

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Compute predetermined overhead rates and explain why estimated overhead costs (rather than actual overhead costs) are used in th
Crazy boy [7]

Why estimated overhead costs (rather than actual overhead costs) are used in the costing process is explained below.

A predetermined cost is an expenditure that a company estimates ahead of time.

This cost is calculated prior to the purpose of production and includes all variable costs that affect production in a manufacturing business.

Actual overhead costs are difficult to calculate for each job, especially in a production environment with a large number of jobs.

As a result, overhead costs are allocated according to some standardized methods, which may link overhead costs to direct labor, machining time, and material used in each job.

Manufacturing overhead in a manufacturing organization refers to indirect costs that are required for production but cannot be traced back to individual products.

Machine depreciation and factory rental are two examples of manufacturing overhead costs.

Hence, computation of predetermined overhead rates is given above.

Learn more about overhead:

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6 0
2 years ago
Using accrual accounting, revenue is recorded and reported only a.when cash is received at the time services are rendered b.when
Veseljchak [2.6K]

Answer:

d.when the services are rendered without regard to when cash is received

Explanation:

Accrual based accounting requires that the services should be performed or rendered associated with the revenue when you recognize it. It  does not matter when the cash for the revenue is received. You may received the cash in advance or after some time from you rendering services. As your render the services you can record your revenue.

8 0
3 years ago
About how long after WWII did employers first start to push back against union encroachment?
Aleksandr-060686 [28]

Answer:

The correct answer is: 10 years.

Explanation:

Almost after ten (10) years after World War II (WWII) ended, the American Federation of Labor (<em>AFL</em>) and the Congress of Industrial Organizations (<em>CIO</em>) joined forces in 1955 under union leader John L. Lewis command. This was mainly caused because of the increase in the number of unions by that year that included law enforcement officials, health care employees, and postal office workers.

5 0
3 years ago
Miriam's employer offers paid vacations, health insurance, and life insurance, as well as a 401(k). Currently, Miriam is partici
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Answer: A cafeteria plan

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a. Only institutions, and not individuals, can participate in derivatives market transactions. b. If you purchased 100 shares of
Marina CMI [18]

Answer:

e. As they are generally defined, money market transactions involve debt securities with maturities of less than one year.

Explanation:

Statement E, As they are generally defined, money market transactions involve debt securities with maturities of less than one year is true.

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Statement D is not true. It is a direct transfer of capital.

4 0
3 years ago
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