Answer:
$841
Explanation:
Let the amount of deposit you need to fund each month is a
n= 30 years = 30 x 12 = 360 months
The amount of money you desire to have in 30 years (FV) = $1,980,000
i/r = 10.19%/year = 0.849%/month
Based on these given information, you can either choose to:
1) Solve the following equation:
a x 1.00849^360 + a x 1.00849 ^359 + a x 1.00849^358 + ... + a x 1.00849^1 + a = $1,980,000
2) Input given information into excel/financial calculator:
n = 360
FV = $1,980,000
i/r = 0.849
PV = 0
Find PMT (a). PMT (a) = $841
Answer:
b. the least costly method of transferring goods from warehouses to stores.
Explanation:
The retail company should find the most efficient and cost effective means of transportation.
The the least profitable and most costly method of transferring goods from warehouses to stores would reduce the profit margins of retail stores and the stores would want to maximise profit.
Answer: $23,888
Explanation:
The cost today for a freshman at a public university is $19,500.
Inflation is at 7% a year and the period is 3 years from now. It is best to use a future value formula:
= Fees * ( 1 + rate) ^ number of years
= 19,500 * ( 1 + 7%)³
= 19,500 * 1.225043
= $23,888
Answer:
b. 3.0 : 1
Explanation:
Current ratio is used to measure a company's financial ability to pay short-term obligations or those due within one year. It is measure by Current asset/Current liability
The Current ratio = $300,000 / $100,000 = 3.0 : 1
Note: The higher the quick ratio, the better the company's liquidity position.
