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Juliette [100K]
3 years ago
12

Your only child will go to college 10 years from now. Your salary is $80,000 a year, and is expected to rise with inflation, whi

ch is about 3% annually. Tuition is currently about $40,000 a year, but growing by 5% yearly. What percentage of your salary would go to pay for the first year of your child's college education
Business
1 answer:
Cerrena [4.2K]3 years ago
6 0

Answer:

60.60%

Explanation:

The computation of the percentage of your salary would go to pay for the first year of your child's college education is given below:

The salary after 10 years would be

= 80000 × 1.03^10

= 107513.31.

Now Similarly, the college fees after 10 years would be

= 40000 × 1.05^10

= 65155.78.

So, the percentage would be

= 65155.78 ÷ 107513.31

= 60.60%

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If real gdp in a particular year is $80 billion and nominal gdp is $240 billion, the gdp price index for that year is:
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3 years ago
Splish Brothers Inc. uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
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Answer:

Splish Brothers Inc.

Perpetual Inventory Schedule using moving average costs:

Date       Description   Number   Average Cost  Total Cost          Cost

                                     of Units                                                   Balance

May 7         Purchase       105               $7                $735            $735

June 1        Sales              (55)              $7                  385              350

July 28       Purchase         63             $18                1,134            1,484

August 27  Sales              (84)            $13.1327        1,103               381

Explanation:

a) Data and Calculations:

Date                          Number of Units   Unit Price    Total Costs

May 7         Purchase           105                $7                $735

June 1        Sales                  (55)               $7                  385

July 28       Purchase            63              $18                 1,134

August 27  Sales                 (84)             $13.1327        1,103

Cost of goods sold = $1,488 ($385 + $1,103)

Ending inventory =       $381

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3 years ago
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Answer:

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Which of the following is a process by which investment bankers purchase new securities directly from the issuing company and re
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Answer:

B) Underwriting. 

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