Answer:
FV= $126,585.60
Explanation:
Giving the following information:
Monthly deposit (A)= $1,721
Interest rate (i)= 0.08/12= 0.0067
Number of periods (n)= 12*5= 60 months
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {1,721*[(1.0067^60) - 1]} / 0.0067
FV= $126,585.60
Answer: $12.20
Explanation:
Total Manufacturing cost at 8,500 units;
= Direct materials + Direct labor + Variable Manufacturing Overhead + Fixed manufacturing overhead
= (6.9 * 8,500) + ( 3.9 * 8,500) + ( 1.4 * 8,500) + 102,850
= $206,550
Total Manufacturing cost at 8,501 units;
= (6.9 * 8,501) + ( 3.9 * 8,501) + ( 1.4 * 8,501) + 102,850
= $206,562.20
Incremental cost = 206,562.2 - 206,550
= $12.20
Answer:
The correct answer is letter "A": lump-sum payment made to a life insurance company that promises to make a series of equal payments later for some period of time.
Explanation:
An annuity is a payment made to an insurance company under the promise the insurance will make equally-distributed repayments to the policyholder at a specific period. The payments for the annuity are usually made in a lump-sum but they can be paid in small installments. When the repayments start immediately after the insured hires the policy, the insurance is called it is called an annuity due.
The Correct answer is False
Answer:
The Journal Entry is shown below in the explanation section
Explanation:
The first step to take is to make use of the Journal entry.
Journal Entries for issuing Bonds
1 May Cash 800,000
Bonds Payable 800,000
1 Nov Interest expense 24,000
Cash 24,000
(800,000* 6%*6/12)
31 Dec Interest expense 8000
Interest Payable 8000
(800,000* 6%* 2/12)