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Ludmilka [50]
3 years ago
13

Maxxie purchased a tract of land for $29,500. Today, the same land is worth $45,100. How many years have passed if the price of

the land has increased at an annual rate of 5.7 percent?
a. 6.56 years
b. 5.74 years
c. 6.81 years
d. 7.66 years
e. 6.89 years
Business
1 answer:
NikAS [45]3 years ago
3 0

Answer:

n= 7.66 years

Explanation:

Giving the following information:

Present value (PV)= $29,500

Future value (FV)= $45,100

Interest rate= 5.7%

<u>To calculate the number of years, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)  

n= ln(45,100/29,500) / ln(1.057)

n= 7.66 years

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Answer:

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5 0
3 years ago
Eugene Co. has inventory it purchased for $6,000. It sells the inventory to a customer for $10,000, including installation. Inst
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Answer:

The necessary entries would be:

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Explanation:

Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.

This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the  later would be recognized when is installation is concluded.

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4 years ago
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Read more about international trade

<em>brainly.com/question/15115779</em>

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Answer:

quantity of product produced in a given period increases, the cost of manufacturing each unit decreases

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