Answer:
Total PV= $522.92
Explanation:
Giving the following information:
First payment= $450 at the end of the 7th year
Second payment= $450 at the end of the 12 year
Interest rate= 6% compounded annually
<u>To calculate the present value, we need to use the following formula on each payment:</u>
PV= FV/(1+i)^n
Cf1= 450/1.06^7= 299.28
Cf2= 450/1.06^12= 223.64
Total PV= $522.92
Answer:
Savings account
Explanation:
Savings accounts can be used in emergencies.
The amount of money you have in the bank at any given moment.
the agent earned his commission.
When a seller of real estate hires a broker to find a buyer, the broker is usually considered to have earned his commission when he or she finds a “ready, willing, and able” buyer.
<h3>What is the difference between Commission and commission earned?</h3>
The court ruled that a commission is "due" if it has been earned, and an employee has done all services necessary to earn a commission when they are all rendered.
<h3>When is a broker’s commission due when selling a house?</h3>
The law acknowledges that in some circumstances, the broker has earned and is entitled to its compensation regardless of the completion of the transaction, despite the seller's perception that a commission should never be owed until a deal really closes.
<h3>Is an employee's compensation due or earned?</h3>
By taking such a step, the employer may be able to argue that McCabe is different in light of the facts and that the remuneration in question is neither "due" nor "earned" unless the employee works through the payment date.
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