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
mote1985 [20]
3 years ago
5

A series of 10 end-of-year deposits is made that begins with $5,000 at the end of year 1 and decreases at the rate of $300 per y

ear with 12% interest.
a) What amount could be withdrawn at t = 10? $
Round entry to the nearest dollar. Tolerance is ±4.
b) What uniform annual series of deposits (n = 10) would result in the same accumulated balance at the end of year 10? $
Round entry to the nearest dollar. Tolerance is ±4.
Business
1 answer:
Aleonysh [2.5K]3 years ago
3 0

Answer:

a) The amount that could be withdrawn at t = 10 is $68,872.

b) The uniform annual series of deposits is $3,925.

Explanation:

a) What amount could be withdrawn at t = 10? $ Round entry to the nearest dollar. Tolerance is ±4.

Note: See the attached excel for the calculation of the future value in year 10.

From the attached excel file, we have:

Future value in year 10 = $68,872

Therefore, the amount that could be withdrawn at t = 10 is $68,872.

b) What uniform annual series of deposits (n = 10) would result in the same accumulated balance at the end of year 10? $ Round entry to the nearest dollar. Tolerance is ±4.

To calculate the uniform annual series of deposits, we use the formula for calculating the future value of ordinary annuity for as follows:

FV = M * (((1 + r)^n - 1) / r) ................................. (1)

Where,

FV = Future value of the amount deposited in after 10 years = $68,872

M = Uniform annual series of deposits = ?

r = Interest rate = 12%, or 0.12

n = number of year = 10 years

Substituting the values into equation (1) and solve for M , we have:

$68,872 = M * (((1 + 0.12)^10 - 1) / 0.12)

$68,872 = M * 17.5487350695351

M = $68,872 / 17.5487350695351

M = $3,925

Therefore, the uniform annual series of deposits is $3,925.

Download xlsx
You might be interested in
Zitrik Corporation manufactured 90,000 buckets during February. The variable overhead cost-allocation base is $5.05 per machine-
Yanka [14]
1. What is the variable overhead spending variance? (HINT: The answer $980 unfavorable, but I need work to support this)
2. What is the variable overhead efficiency variance? (HINT: The answer is $4,040 unfavorable, but I need work to support this)
3 0
3 years ago
what situation is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand?
Mekhanik [1.2K]

Demand is price elastic, is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand.

<h3>What is price elastic?</h3>

Price elastic of demand means the measurement of the product's demand with respect to its price.

It is common that if the price of a product will increase, the demand will fall, but some products demand fall more than other products, which is measure by price elastic in demand.

Thus, the correct option is demand is price elastic.

Learn more about demand is price elastic.

brainly.com/question/20630691

#SPJ4

3 0
2 years ago
A ______ the supply curve represents a change in supply while a ______ the supply curve represents a change in the quantity supp
Arisa [49]

A <u>shift </u><u>of</u> the supply curve represents a change in supply while a <u>movement </u><u>along</u> the supply curve represents a change in the quantity supplied.

Supply is defined in economics as the total amount of a specified product or service offered to consumers by a supplier at a specified time and price level. This is usually determined by market movements. For example, increased demand may prompt suppliers to increase supply.

In economics, supply is the number of goods that an individual or firm makes available in the market. This refers to the amount you are producing at a particular point in time. For example, if Apple made 100 of its iPhones, that would be the product to be launched. Supply can refer to the quantity available at a particular price or the quantity available across the price range displayed on the chart.

Learn more about Supply  here: brainly.com/question/2398546

#SPJ4

7 0
2 years ago
___ media refers to music and movies that are delivered on demand from an online source. streaming real-time social iot
anzhelika [568]
I tnink social media
3 0
1 year ago
Monroe county levies a tax on the value of real property located within the county. The tax equals 3 percent of the property's a
Vikentia [17]

Answer:

a. $39,000

b. $85,000

Explanation:

The computations are shown below:

a. Tax on real property would be

= Valued of real property × tax rate

= $1,300,000 × 3%

= $39,000

b. Tax on real property would be

= Property's assessed value up  × tax rate + difference of property value  × increased tax rate

= $2,000,000 × 3% + $2,500,000 × 1%

= $60,000 + $25,000

= $85,000

8 0
3 years ago
Other questions:
  • A large computer company was well known for the frequent debate among employees regarding various issues. Employees weren't afra
    6·1 answer
  • Bramble Corp. sells MP3 players for $60 each. Variable costs are $30 per unit, and fixed costs total $120000. How many MP3 playe
    10·1 answer
  • Ralph's pretty good grocery has been making an effort to diversify their workforce. new hires are encouraged to learn the organi
    8·1 answer
  • discuss the influences of supply and demand in your daily life. describe one good and one service you use daily, and describe th
    7·1 answer
  • Equipment with a book value of $65,300 and an original cost of $133,000 was sold at a loss of $14,000. Paid $89,000 cash for a n
    15·1 answer
  • Mikey initially invested $2,400 in a company and has held this investment for 3 years. He sold the investment after 3 years for
    6·1 answer
  • At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: o
    6·1 answer
  • Sheridan Company has had 4 years of record earnings. Due to this success, the market price of its 450,000 shares of $2 par value
    9·1 answer
  • A restaurant supply store is trying to determine how many boxes of a certain commonly used item to order. They estimate that tha
    8·1 answer
  • Sometimes people are not aware that their personal information is being gathered. This is
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!