1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
iris [78.8K]
2 years ago
14

A town wishes to build a new school that will cost $15,000,000. The school is to be built in 10 years. The town will provide fun

ding for the new school by depositing a uniform amount into an investment fund paying 5% per year, compounded annually. How much must be set aside in each of the 10 years to provide for the new school?
Business
1 answer:
Stella [2.4K]2 years ago
7 0

Answer:

Annual deposit= $1,192,568.62

Explanation:

Giving the following formula:

Future Value= $15,000,000

Number of periods= 10 years

Interest rate= 5% compounded annually

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

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

A= annual deposit

Isolating A:

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

A= (15,000,000*0.05) / [(1.05^10) - 1]

A= $1,192,568.62

You might be interested in
When writing recommendation​ letters, you should​ ________.
Natasha2012 [34]
A i think the answer is a correct me if wrong plz

8 0
3 years ago
Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise i
cupoosta [38]

Answer:

The cash received from customers under the direct method is $8,256,000.

Explanation:

Given:

Beginning accounts receivable = Accounts receivable on 12/31/21 = $216,000

Ending accounts receivable = Accounts receivable on 12/31/22 = $360,000

Sales revenue = $8,400,000

Therefore, we have:

Cash received from customers = Beginning accounts receivable + Sales revenue - Ending accounts receivable = $216,000 + $8,400,000 - $360,000 = $8,256,000

Therefore, the cash received from customers under the direct method is $8,256,000.

5 0
2 years ago
In an initial survey designed to estimate the percentage of time air-express cargo loaders are idle, an analyst found that loade
oksian1 [2.3K]

Answer:

13.3%

Explanation:

The time in which the employee are free or not working due to halt in operation or a process. The employee are ready for work in this time and waiting for operation to start.

According to the given data

Total observations = 45 observations

Number of observation that found loader idle = 6 observations

Percentage of idle time is the ratio of number of times labor found idle to total numbers of observations.

Estimated percentage of idle time = (6 / 45) x 100

Estimated percentage of idle time = 13.3%

3 0
3 years ago
Sarah can recite her speech for her oral communications class perfectly when she is alone. however, when she is in front of the
Leokris [45]
Sarah's performance has been influenced by EVALUATION APPREHENSION. Evaluation apprehension refers to the concern that one feels when working in the presence of others which impairs or enhances one's performance. Evaluation apprehension can easily occur especially when one is been rated by panel of judges.
5 0
3 years ago
If a $1000 computer is marked off 35%, what is the sale price?. A). $300. Eliminate. B). $350. C). $650. D). $1350
Thepotemich [5.8K]
C
1000 * 0.35 = 350
1000 - 350 = $650
8 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following statements is CORRECT? a. The present value of a 3-year, $150 annuity due will exceed the present value o
    12·1 answer
  • Best Construction, Inc., and General Real Estate Corporation form a joint venture. A joint venture is usually formed for
    8·1 answer
  • An investment counselor calls with a hot stock tip. He believes that if the economy remains​ strong, the investment will result
    11·1 answer
  • Which of the following is a way developing nations are trying to raise living standards? A. Return to traditional ways of farmin
    11·2 answers
  • Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of
    7·2 answers
  • "All of the following are reasons that implementing a new ERP may fail except
    5·1 answer
  • How is challah bread made? If I have to dabble the recipe?
    13·1 answer
  • How many of the following statements about testing are true?
    6·1 answer
  • Last month Carlos Company had a $60,000 profit on sales of $300,000. Fixed costs are $120,000 a month. What sales revenue is nee
    14·1 answer
  • lee reed, marisa a. pagnattaro, et al., the legal and regulatory environment of business (18th or 19th edition mcgraw-hill irwin
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!