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2 years ago

What's the present value of $1,375 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly?

Business

1 answer:

goldenfox [79]2 years ago

6 0

Answer:

$1,019.39

Explanation:

Just checked the answer and it was correct.

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San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost

muminat

Answer:

The average cost of ending inventory is $37,259 and cost of goods sold for october is 24,166

Explanation:

In order to calculate the average cost of ending inventory, we would have to calculate first the cost to retail ratio with the following formula:

cost to retail ratio=Total cost/Total retail

According to the given data, the total cost=$61,425, and the total retail= $87,100, Hence:

cost to retail ratio=$61,425/$87,100= 70.5%

Also, we have to calculate the ending inventory at retail=$87,100+$1,700-$1,050-$37,00=$52,850

Therefore, the average cost of ending inventory= $52,850×70.5%

=$37,259

To calculate the cost of goods sold for october we would have to use the following formula:

cost of goods sold=Beginning inventory+purchases-ending inventory

=$40,000+$21,425-$37,259

=$24,166

6 0

2 years ago

The brenda one is the question thank youuu:)

Ivenika [448]

Answer:

C. y = 11000(1.086)^7

Explanation:

Given the following data;

Principal = $11,000

Interest rate = 8.6% = 8.6/100 = 0.086

Time = 7 years

To derive a mathematical expression, we would use the compound interest formula;

$A = P(1 + \frac{r}{100})^{t}$

Where;

A is the future value.

P is the principal or starting amount.

r is annual interest rate.

t is the number of years for the compound interest.

Substituting into the formula, we have;

$A = 11000*(1 + \frac{8.6}{100})^{7$

$A = 11000*(1 + 0.086)^{7$

$A = 11000*(1.086)^{7$

$A = 11000*1.78$

A = $19,580

7 0

2 years ago

John is 17 years old and he earned $3,500 in a summer job. His grandparents just gave him a gift of $5,000 to help him learn fin

Lerok [7]

"John is 17 years old and he earned $3,500 in a summer job. His grandparents just ..."John can contribute $3,500 to an IRA. This is further explained below.

Generally, For those looking to save and invest for their retirement, an individual retirement account (IRA) is a kind of savings account that offers favorable tax treatment.

In conclusion, "John, who is just 17, worked all summer and saved $3,500. Just recently, his grandparents..." John has an annual IRA contribution limit of $3,500.