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2 years ago

10

You deposit $1,900 into an account that pays 3% per year. Your plan is to withdraw this amount at the end of 5 years to use for

a down payment on a new car. How much will you be able to withdraw at the end of 5 years

1 answer:

arsen [322]2 years ago

7 0

Answer:

$2202.62

Explanation:

Future value = amount x ( 1 + interest rate)^n

$1900(1.03)^5 = $2202.62

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Federal inspectors find that several shipments of hamburger supplied to grocery chains is contaminated with potentially harmful

brilliants [131]

Answer:

The Food and Drug Administration issues a recall for the meat, and the seller notifies its customers.

Explanation:

When there is a serious or potentially serious risk to consumers, the FDA works with sellers and distributors to recall products (remove them from store shelves) and notify customers through press releases and other communications.

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3 years ago

If the primary key of the workshop offerings table contains the primary key for both the workshop table and account table, there

makkiz [27]

<span>If the primary key of the workshop offerings table contains the primary key for both the workshop table and account table, there is a many-to-many relationship between accounts and workshops.
</span><span>A </span>one-to-many relationship<span> includes the </span>primary key of<span> the “</span>one<span>” table as a foreign </span>key<span> in the “</span>many<span>” table. </span>

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3 years ago

On October 1, Eder Fabrication borrowed $60 million and issued a nine-month promissory note. Interest was payable at maturity. I

7nadin3 [17]

Answer:

cash 55,110,929 debit

note payable 55,110,929 credit

--to record singing of promissory note with discounted interest--

interest expense 1.583.741,77 debit

note payable 1.583.741,77 credit

--to record accrued interest on note payable --

Explanation:

the note plus interest will be for 60 millions.

So to calcualte the isuance ofthe note we must calculate the present value of a lump sum at 12% discount rate:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 60,000,000.00

time 0.75

rate 0.12

$\frac{60000000}{(1 + 0.12)^{0.75} } = PV$

PV 55,110,929.18

then at December 31th we solve for the accrued interest:

$Principal \: (1+ r)^{time} = Amount$

Principal 55,110,929.18

time 0.25 (3 months over 12 month a year)

rate 0.12000

$55110929.18154 \: (1+ 0.12)^{0.25} = Amount$

Amount 56,694,670.95

accrued interest: 56,694,670.95 - 55,110,929.18 = 1.583.741,77

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Answer:

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