1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nirvana33 [79]
3 years ago
11

A student wants to have $30,000 at graduation 4 years from now to buy a new car. His grandfather gave him $10,000 as a high scho

ol graduation present. How much must the student save each year if he deposits the $10,000 today and can earn 12% on both the $10,000 and his earnings in a mutual fund his grandfather recommends
Business
1 answer:
kari74 [83]3 years ago
5 0

Answer:

Annual deposit= $2,984.69

Explanation:

<u>First, we need to calculate the Future Value of the lumpsum investment using the following formula:</u>

FV= PV*(1+i)^n

FV= 10,000*(1.12^4)

FV= $15,735.19

<u>Now, the annual deposit to cover the difference:</u>

Difference= 30,000 - 15,735.19= 14,264.81

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (14,264.81*0.12) / [(1.12^4) - 1]

A= $2,984.69

You might be interested in
You are product manager for a company that manufactures copy machines for offices. Therefore, you will most likely
mario62 [17]

Answer:

The correct answer is d. use both personal selling and advertising.

Explanation:

Advertising and personal sales are very related business processes that constitute the volume of a company's activity in marketing and promotion. Advertising and personal sales are methods used by companies to convey the benefits of their brand, product and services to the market. However, they are different views of marketing.

3 0
3 years ago
Exercise 05-14 Predicting sales and variable costs using contribution margin LO C2 Bloom Company management predicts that it wil
Stels [109]

Answer:

Explanation:

1. Fixed Costs = 160,000

Pretax income = 164,000

Total contribution desired = 324,000 [160,000+164,000]

CM Ratio = 0.25

Sales = 324,000/0.25 = 1,296,000

2. Variable costs = Sales - Fixed costs - Pretax income = 1,296,000 - 160,000 - 164,000 = 972,000

So Total Sales amount to $1,296,000 and Variable cost is $972,000

7 0
3 years ago
Read 2 more answers
Which of the following is true of the maturity stage of the product life cycle?a) Harvesting is a strategy that is widely used b
Digiron [165]

Answer:

d) Sales increase at a decreasing rate as fewer new buyers enter the market.

Explanation:

The life cycle has four stages - introduction, growth, maturity and decline. While some products may stay in a prolonged maturity state, all products eventually phase out of the market due to several factors including saturation, increased competition, decreased demand and dropping sales

8 0
3 years ago
Denim Blue Jean Corporation is a growing company located in Washington​ State, but it is beginning to develop a presence in the
elixir [45]

Answer:

B. Market or customer organization

Explanation:

This type of organization is organized by customer type in order to ensure that the different expectations of the customer groups are met by a customized service approach. Since Denim Blue Jean Corporation caters to​ men, women,​ children, babies,​ toddlers, and teens, this is the best approach for the organization.

7 0
3 years ago
A process with no beginning work in process, completed and transferred out 35,000 units during a period and had 14,000 units in
Kay [80]

Answer:

equivalent unit of production for period in conversion cost is 42000 EU

Explanation:

Given data

during period P = 35000 units

ending work W = 14000 units

complete C% = 50%

to find out

equivalent units of production

solution

we know that 35000 units work is complete and transferred during period  and

50% complete with ending work 14000 units

so that

Equivalence unit production is W x C% + P

= 14000 x 50% + 35000 = 42000

so equivalent unit of production for period in conversion cost is 42000 EU

5 0
3 years ago
Read 2 more answers
Other questions:
  • How to find expiry date for a plane ticket?
    10·1 answer
  • 1. Cost-volume-profit analysis assumes all of the following EXCEPT:
    5·1 answer
  • wifty Corporation has 9,200 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stockh
    13·1 answer
  • A​ single-price monopoly​ _______. A. experiences economies of scale over the relative portion of the LRAC curve B. is a price t
    15·2 answers
  • _____ is the process that occurs when a job applicant does research on an organization and concludes there is enough of a fit be
    13·2 answers
  • Show the total cost expression and calculate the EOQ for an item with holding cost rate 18%, unit cost $8.00, annual demand of 4
    15·1 answer
  • The "invisible hand" concept suggests that
    12·1 answer
  • "Roper Spring Water" is considering a new bottling line that costs $230,000, last 4 years, and yields cost savings of $55,000 in
    9·1 answer
  • ACS Industries is considering a project with an initial cost of $6.2 million. The project will produce cash inflows of $1.8 mill
    13·1 answer
  • If interest rates increase from 9 percent to 10 percent, a bank with a duration gap of 2 years would experience a decrease in it
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!