Annuity formula is given by:
FV=P[(1+r)^n-1]/r
FV=future value
r=rate
n=time
P=principle
Plugging the value from the question we obtain:
FV=10000[(1+0.07)^6-1]/0.07
FV=71,532.91
Thus the current value of the annuity is given by:
A=p(1+r)^n
plugging in the values we obtain and solving for p we get:
71532.91=p(1+0.07)^6
p=71532.91/(1.07)^6
p=$47665.40
Hence the answer:
B] $47665
Answer:
y = 1/2x + 0
Step-by-step explanation:
Assume that the total overhead variance is x
We are given that the total labor variance is twice the total overhead variance. This means that, the total labor variance is 2x
Total variance can be calculated as follows:
Total variance = Total materials variance + Total overhead variance
+ Total labor variance
We have:
Total variance = $35000
Total materials variance = $14000
Total overhead variance = x
Total labor variance = 2x
Substitute in the equation and solve for x as follows:
35000 = 14000 + x + 2x
35000 - 14000 = 3x
21000 = 3x
x = 21000/3
x = 7000
Based on the above calculations:
Total overhead variance = x = $7000
Total labor variance = 2x = 2*7000 = $14000
She originally had $400 in her bank account.
The 50w represents the amount she will put away each week.
