Ask question

Ask question

All categories

2 years ago

13

mike has $200 in his wallet. He pays a cell phone bill of $89.50. Then he earns $125 shoveling driveways. From mike lends $15 to

friend. That night he gets $20 in a card for his birthday. How much money does he have now?

1 answer:

denis23 [38]2 years ago

8 0

Answer:

$240.50

Explanation:

200-89.50 = 110.50

110.50+125 = 235.50

235.50-15 = 220.50

220.50 + 20 = 240.50

You might be interested in

What is the present value of $5,000 received 5 years from now if the discount rate is 5% (rounded to the nearest dollar?a. $6,38

e-lub [12.9K]

Answer:

The correct option is b. $3,918.

Explanation:

This can be calculated using the simple present value (PV) formula as follows:

PV = FV / (1 + r)^n ............................ (1)

Where;

PV = Present value of the amount = ?

FV = Future value of the amount = $5,000

r = Discount rate = 5%, or 0.05

n = number of years = 5

Substituting the values into equation (1), we have:

PV = $5,000 / (1 + 0.05)^5

PV = $5,000 / 1.05^5

PV = $5,000 / 1.2762815625

PV = 3,918

Therefore, the correct option is b. $3,918.

6 0

3 years ago

Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $45 per unit.

ASHA 777 [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Its beginning inventory of chairs was 100 units at $45 per unit.

Purchases:

The first was a 174-unit purchase at $51 per unit

The second was a 212-unit purchase at $54 per unit.

During the period, it sold 294 chairs.

I will calculate the cost of goods sold and ending inventory under FIFO, LIFO, and weighted-average methods.

FIFO (first-in, first-out):

COGS= 100*45 + 174*51 + 20*54= $14,454

Ending inventory= 192*54= $10,368

LIFO (last-in, first-out):

COGS= 212*54 + 82*51= $15,630

Ending inventory= 92*51 + 100*45= $9,192

Weighted-average method:

Weighted-average cost= (45 + 51 + 54)/3= $50

COGS= 294*50= $14,700

Ending inventory= 192*50= $9,600

3 0

3 years ago

An economy's production possibilities frontier: Select one:

Afina-wow [57]

Answer:

The correct answer is c. is based on simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and economic growth.

Explanation:

The production possibilities frontier (FPP) is a graphic representation of the maximum quantities of production that an economy can obtain in a given period using all the resources it has available.

In an economy that has thousands of products, the alternatives to produce one good or another and how much of each are very large. When an alternative is chosen, it means that other possibilities are being renounced. The relationship between what we choose and what we give up is the opportunity cost.

5 0

3 years ago

The yield to maturity on a discount bond is: equal to both the coupon rate and the current yield. equal to the current yield but

dlinn [17]

Answer:

greater than both the current yield and the coupon rate.

Explanation:

A discount bond is a bond that at the point of issuance, it's less than its face or par value.

When a bond is trading for less than its face value in the market, it's known as a discount bond.

The yield to maturity on a discount bond is greater than both the current yield and the coupon rate. This simply means that the coupon rate is usually lower than the yield to maturity of the discount bond.

Additionally, the yield to maturity can be defined as the bond's total rate of return required by the secondary market while the coupon rate is defined as the annual interest of a bond divided by its face value.

For instance, when a bond is issued at a par or face value of $5,000, at maturity the investor would be paid $5,000. But because bonds are being sold before its maturity, it would trade below its face value.

Hence, a bond with the face value of $5,000 could trade for as low as $4,800, thus making it a discount bond.

8 0

3 years ago

Using the following end-of-year information, calculate the number of days' sales in receivables for Year 2.

victus00 [196]

Answer:

The number of days' sales in receivables for Year 2 is 48.7

Explanation:

The formula that is applicable to this scenario is the accounts receivable divided by sales multiplied by 365 days

The number of days' sales in receivables=$11,000/$82,500*365=48.67

The correct option is D, since the 48.67 was simply rounded down to one decimal place.

6 0

3 years ago