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poizon [28]
3 years ago
12

Travis Brown deposited $17,500 into Browning Bank, which pays 4% compounded quarterly. Calculate how much Travis will have in hi

s account at the end of seven years. (Round your answer to the nearest cent.)
Business
1 answer:
mojhsa [17]3 years ago
5 0

Answer:

Travis will have <u>$23,122.59 </u>in his account at the end of seven years

Explanation:

Future value is the compounded value calculated using a specific time and specific rate too.

To calculate the balance after seven years use the following formula

Future value = Present value x ( 1 + periodic interest rate )^numbers of periods

Where

Future value = Balance after 7 years = ?

Periodic interest rate = 4% x 3/12 = 1%

Numbers of periods = 7 years x 12/3 = 28 periods

Placing values in the formula

Balance after 7 years = $17,500 x ( 1 + 1% )^28

Balance after 7 years = $23,122.59

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According to generally accepted accounting principles (GAAP), revenue is recognized as income when:
bogdanovich [222]

Answer:

the transaction is complete and the goods or services are delivered.

Explanation:

According to generally accepted accounting principles (GAAP), the revenue should be recognized when the goods or services are delivered and the transaction is completed in all respects.  

The revenue recognition principle applies when the revenue is realized or earned whether cash is received or not plus it also follows the accrual basis of accounting. Here, realizable means that customer received the product but the payment is made at the later date

4 0
3 years ago
Explain a situation where user would transpose data on a spreadsheet in Microsoft Excel. Give at least one example to illustrate
GuDViN [60]

Answer:

You can do this by copying, pasting, and using the Transpose option. But doing that creates duplicated data. If you don't want that, you can type a formula instead using the TRANSPOSE function. For example, in the following picture the formula =TRANSPOSE(A1:B4) takes the cells A1 through B4 and arranges them horizontally.

Step 1: Select blank cells

First select some blank cells. But make sure to select the same number of cells as the original set of cells, but in the other direction. For example, there are 8 cells here that are arranged vertically:

Cells in A1:B4

So, we need to select eight horizontal cells, like this:

Cells A6:D7 selected

This is where the new, transposed cells will end up.

Step 2: Type =TRANSPOSE(

With those blank cells still selected, type: =TRANSPOSE(

Excel will look similar to this:

=TRANSPOSE(

Notice that the eight cells are still selected even though we have started typing a formula.

Step 3: Type the range of the original cells.

Now type the range of the cells you want to transpose. In this example, we want to transpose cells from A1 to B4. So the formula for this example would be: =TRANSPOSE(A1:B4) -- but don't press ENTER yet! Just stop typing, and go to the next step.

Excel will look similar to this:

=TRANSPOSE(A1:B4)

Step 4: Finally, press CTRL+SHIFT+ENTER

Now press CTRL+SHIFT+ENTER. Why? Because the TRANSPOSE function is only used in array formulas, and that's how you finish an array formula. An array formula, in short, is a formula that gets applied to more than one cell. Because you selected more than one cell in step 1 (you did, didn't you?), the formula will get applied to more than one cell. Here's the result after pressing CTRL+SHIFT+ENTER:

6 0
2 years ago
services act as a middleman, allowing individuals to securely send and receive money. select all that apply. a. p2p b. b2b c. b2
k0ka [10]

Services act as a middleman, allowing individuals to securely send and receive money is A. p2p

<h3>How to illustrate the information?</h3>

It should be noted that p2p simply means the peer to peer platform that allows two individuals to be able to interact directly without the third party.

Peer-to-peer (P2P) lending eliminates the need for a middleman financial institution by allowing borrowers to get loans directly from other borrowers. P2P lending has become much more popular as a substitute for traditional funding thanks to websites that make it possible.

It should be noted that they act as services that act as a middleman, allowing individuals to securely send and receive money.

Therefore, the correct option is A.

Learn more about money on:

brainly.com/question/24373500

#SPJ1

7 0
1 year ago
What is the effect on market when suppliers under invest in their businesses​
yanalaym [24]

Answer:

  • Low supply
  • Scarcity
  • Low economic growth

Explanation:

When suppliers under invest in their business, they will end up having the capacity to only produce less than the market requires. Should this happen, supply will be reduced in the market which would lead to relative scarcity all else being equal.

For economic growth to happen, there must be increasing production in an economy so if suppliers are under investing and production is low, there might be low or no economic growth.

8 0
2 years ago
Calculating the average time callers wait on the phone for technical support is an example of inferential statistics.A. TrueB. F
bearhunter [10]

Answer:

b) false

Explanation:

tell me if I'm wrong. mark me brainliest if this helps :)

8 0
3 years ago
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