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
slavikrds [6]
3 years ago
6

Future Value of Multiple Annuities Assume that you contribute $150 per month to a retirement plan for 20 years. Then you are abl

e to increase the contribution to $350 per month for another 20 years. Given an 8 percent interest rate, what is the value of your retirement plan after 40 years
Business
1 answer:
love history [14]3 years ago
5 0

Answer:

$641,455.26

Explanation:

Calculation to determine the value of your retirement plan after 40 years

First step is to determine FV Using financial calculator

N = 40*12 = 480

I = 8%/12 = .6667

PV = 0,

PMT = $150

CPT FV =$523,651.17

N = 20*12 = 240

I = 8%/12 = .6667

PV = 0

PMT = $200 ($350 - $150)

CPT FV =$117,804.08

Now let determine the value of your retirement plan after 40 years

Sum of FV =$523,651.17+$117,804.08

Sum of FV =$641,455.26

Therefore the value of your retirement plan after 40 years will be $641,455.26

You might be interested in
Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $161,000 Credit sale
laila [671]

Answer:

$4,140

Explanation:

Given the above information, we will compute the bad debt expense as;

Bad debt expense

= (Cash sales × 4% of accounts receivables) - Credit balance in allowance for doubtful accounts

= ($161,000 × 4%) - Credit balance in allowance for doubtful accounts

= $6,440 - $2,300

= $4,140

Therefore, the bad debt expense is $4,140

8 0
3 years ago
On April 1, Otisco, Inc. paid Garcia Publishing Company $1,548 for 36-month subscriptions to several different magazines. Otisco
SSSSS [86.1K]

Answer:

advertizing expense 387 debit

    prepaid expense       387 credit

--to record expired advertizing at year-end ---

Explanation:

1,548 is the value of 36 months

from April to December 31th 9 months has expired thus:

1,548 x 9/36 = 387 expired advertizing

we will decrease our prepaid and post the advertizing expense for the expired amount

the prepaid is considered an asset as we have the right to receive advertize of our product and brand for the term of the contract thus, to decrease it we credit

the expense as decrease our equity will be debited

4 0
3 years ago
You are the PR officer of a major MNE in the chemical industry. The national press in your home country alleges that your compan
vichka [17]

Answer:

PR is answerable for the collaboration of the corporate with the civilization, government, media, and consumer. Once a particular sort of event happens, confirm PR conveys in media that there'll be a reaction group selection to completely check the most explanation for the event whether or not it's a synthetic error or mechanism responsibility within the event. There’ll be a unbiased group are going to be conjointly selected to evaluate true and outcome and consequently given the results of the particular explanation for the event.

7 0
3 years ago
Which statement is false?
WINSTONCH [101]

Option B, The predetermined overhead allocation rate is based on actual costs.

Explanation:

The term "pre-set overall rate" refers to the allocation rate at the outset of a project, which is based on the expected cost of overhead output for a certain reporting period.

This rate is often used to make book closure quicker as it eliminates estimation of real overhead costs as part of the closing process at the end of the period. Nevertheless, at least at the end of every fiscal year, the disparity between the real and expected overhead sums must be reconciled.

The predetermined rate is derived by calculation as follows:

Estimated amount of manufacturing overhead to be incurred in the period ÷ Estimated allocation base for the period

3 0
3 years ago
Parent Inc. purchased 30% of the common stock of Affiliate Co. on January 1, YR01 for $5,000 and appropriately accounted for thi
blondinia [14]

Answer:

net cash from investing activities = -$4,940

operating and financing activities are not affected.

Explanation:

the journal entries should be:

January 1, socks purchased

Dr Investment in Affiliate 5,000

    <u>Cr Cash 5,000</u>

December 31, dividends received

<u>Dr Cash 60</u>

    Cr Investment in Affiliate 60

December 31, Affiliate reports net income

Dr Investment in Affiliate 300

    Cr Revenue from investing activities 300

Only the cash flow from investing activities will be affected by Parent's investing in Affiliate. Since the company uses the equity method, the operating and financing cash flows are not affected.

The cash flow from investing activities will:

  • Decrease by $5,000 due to the purchase of stocks.
  • Increase by $60 due to the dividends received.
  • net cash from investing activities = -$4,940

4 0
3 years ago
Other questions:
  • Respass Corporation has provided the following data concerning an investment project that it is considering: Initial investment
    10·1 answer
  • The dominant business ethic in corporate communications is _____, which is "a principle that allows those affected by administra
    10·1 answer
  • Our financial decisions decrease once we reach adulthood true or false
    14·2 answers
  • Raycom Construction needs heavy-duty equipment to install a new pipeline in northern Alaska. Raycom's engineers have been asked
    11·1 answer
  • According to the U.S. Department of Labor, the average American has had how many jobs before the age of 32? A. Four b. At least
    12·2 answers
  • Describe, in your own words, how sensation would allow an individual to acquire knowledge. Your answer should be at least one hu
    6·2 answers
  • A travel article researcher randomly sampled 250 adult residents of Illinois and asked each resident if he/she planned to vacati
    12·1 answer
  • The nurse is teaching a student nurse about Covey’s eight characteristics of effective leaders. Which statement of the student n
    7·1 answer
  • Personal finances-- multiple choice!
    10·2 answers
  • Wyatt is paying back a loan with a nominal interest rate of 13. 62%. If the interest is compounded quarterly, how much greater i
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!