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2 years ago

how long will it take 13,000 to grow to 18,000 if the investment earns at the interest rate of 3% compunded monthly

Business

1 answer:

kondaur [170]2 years ago

4 0

Answer:

130 months

Explanation:

The computation of the time period is shown below:

Given that

Present value = $13,000

Future value = $18,000

PMT = $0

RATE = 3% ÷ 12 = 0.25%

The formula is shown below:

= NPER(RATE;PMT;-PV;FV;TYPE)

The present value comes in positive

After applying the above formula, the time period is 130 months

Therefore the time that should be needed is 130 months

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Answer:

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2 years ago

Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:

BARSIC [14]

Answer:

Results are below.

Explanation:

Giving the following information:

Sales in Units

April 70,000

May 85,000

June 110,000

July 90,000

Desired ending inventory= 15% of the following month’s sales.

The inventory at the end of March was 10,500 units.

To calculate the production required for each month, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

April:

Sales= 70,000

Desired ending inventory= 85,000*0.15= 12,750

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Total production= 72,250

May:

Sales= 85,000

Desired ending inventory= 110,000*0.15= 16,500

Beginning inventory= (12,750)

Total production= 88,750

June:

Sales= 110,000

Desired ending inventory= 90,000*0.15= 13,500

Beginning inventory= (16,500)

Total production= 107,000

Total quarter= 268,000

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3 years ago

Question 7 (multiple choice)

Rufina [12.5K]

The answer is A. $297.99
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2 years ago

Read 2 more answers

It is necessary to retain information for two significant reasons: legal obligation and business needs. Data that occupies the c

baherus [9]

Answer:

The correct answer is letter "B": business.

Explanation:

Business data represents the information of the transactions a company carries out as a result of its operations. Information about suppliers and customers is recorded for control purposes and, mainly, to cover the legal obligation to report the accounting analysis of the firm in the Financial Statements.

Besides, the accounting information of a firm allows managers to compare budget expectations with the current performance of the company to take decisions on what course the entity should follow to reach its objectives.

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2 years ago

As Bart Brownlee approached retirement, he decided the time had come to invest some of his nest egg in a conservative fund. He c

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Answer:

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Explanation:

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= Invested amount × fund charges a load percentage

= $30,000 × 4.25%

= $1,275

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2 years ago