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Vilka [71]
2 years ago
8

Suppose you want to save in order to purchase a new boat. Take the APR to be 4.8%. You want to have $13,000 toward the purchase

of a boat in three years. How much do you need to deposit each month
Business
1 answer:
yan [13]2 years ago
5 0

Answer:

Monthly deposit= $336.46

Explanation:

Giving the following information:

Future Value (FV)= $13,000

Number of periods= 12*3= 36 months

Interest rate= 0.048/12= 0.004

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (13,000*0.004) / [(1.004^36) - 1]

A= $336.46

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{The following information applies to the questions displayed be/ow. Fighting Irish Incorporated pays its employees $3,220 every
matrenka [14]

Answer: $690

Explanation:

The 2018 year- end adjusted balance of Salaries Payable will be calculated as:

= January 1, 2018 balance + Adjustment on December 31, 2018

= $0 + $690

= $690

Note: Salaries accrued at December 31, 2018 will be:

= (Number of days from December 29 - 31) × Salary per day

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6 0
2 years ago
A plaintiff in a successful lawsuit was awarded a judgment of $4800 per month for 5 years. The plaintiff has the need of a fairl
tatiyna

Answer:

58.81% annual

or 3.93% monthly

Explanation:

Using a financial calculator, we can determine the internal rate of return of this investment. The initial outlay is -$110,000, and the 60 $4,800 cash flows follow. The IRR is 3.93 per month. In order to determine the effective annual rate, we can use the following formula:

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8 0
3 years ago
In Step 4, the EUP from Step 2 and the cost per EUP from Step 3 are used to assign costs to the:______ (You may select more than
Licemer1 [7]

Answer:

Option B. Units completed and transferred to finished goods

&

Option C. Units in ending work in process inventory

Explanation:

The reason is that the Equivalent units of Production that include number of units that would have been completed if all the efforts required were applied to the product completion which are the products started and finished during the period. The definition clearly states that the units considered would be the one that are shifted to finished goods from work in progress state in the current year or the one which is at work in progress state.

In the nutshell, the only units that would be considered in the assignment of the cost in the Step 4 will be either Work in Progress (Option C) or the Finished Goods that is shifted to Work in Progress (Option B).

7 0
3 years ago
A ________________ is linked to the organization’s hierarchy, with some shift of power to team; the leader has limited manageria
Dafna1 [17]

A team is linked to the organization's hierarchy,

with some shift of power to team; the leader has limited managerial power;

decision-making is consultative, democratic, or by consensus

8 0
3 years ago
At December 31, 2020, Desert Company reports the following balances for its liability accounts:   7% note payable issued 10/1/20
LekaFEV [45]

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Desert Company

The amount of notes payable that should be recorded as a current liability will be $520,000.

Explanation:

The 8% notes payable had been refinanced to a long-term notes payable.  But, the 7% notes payable was still being negotiated for refinancing.  Since the refinancing had not been agreed, the notes payable would still have a balance of $520,000.  However, a note in accounts could state the fact that the notes payable was being negotiated for refinancing.

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3 years ago
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