Answer: $22,200.72
Explanation:
Given the following :
Amount Pete Morton wants to be able to withdraw each period = $8000
Number of periods = 3
Interest rate on deposit = 4%
The amount Pete must deposit at the beginning of his study to be eligible is the product of the payment per period and the present value of annuity factor.
From the present value of annuity factor table ; the factor obtained for a 3 years period at 4 % Interest rate is 2.77509
Hence,
$8000 × 2.77509 = $22,200.72
The <em>federal reserve </em>affects money available for banks to loan by using the<u> reserve requirement</u> tool.
<h3>What is the reserve requirement in monetary policy? </h3>
Reserve requirement is said as the set-aside funds by the commercial banks that they utilize for meeting their liabilities and instant withdrawal from customers.
Therefore, when Fed increases the rate of <em>reserve requirement</em> then banks need to hold the <u>large amount </u>which reduces their ability to loan more funds. It ultimately reduces the money supply and <em>vice-versa</em>.
Learn more about monetary policy here:
brainly.com/question/13926715
Answer:
Carmen Camry
<u>Income Statement for August 31 </u>
$
Consulting fees earned 27,000
Less Expenses :
Rent expense (9,550)
Salaries expense (5,600)
Telephone expense (860)
Miscellaneous expenses (520)
Net Income / (Loss) 10,470
Explanation:
Income Statement shows the Incomes and expenses for the business for the specific period of operation.
CPI is the Consumer Price Index.
CPI is one of the most used statistics.
In 1960 : CPI 29.3 --------------100 %
In 2017 : CPI 255 --------------- x %
-----------------------------------------------------
29.3 : 255 = 100 : x
29.3 x = 25,500
x = 25,500 : 29.3
x = 870.3 %
For $1 million in 1960 there is $8.703 million in 2017.
Answer: The movie star earned $8.703 million in 2017.
Answer:
Net worth = Total assets - Total debt
Net worth = $330,000 - $175,500
Net worth = $154,500
Net surplus = Monthly gross income - Monthly expense
Net surplus = $9,000 - $6,000
Net surplus = $3,000