Answer:
the amount of money that must be invested now is $21068.87
Explanation:
Given that:
Nominal interest = 10%
Annuity = 7000
n = 8 years
The Effective interest rate is calculated by using the formula:
Effective interest rate = 
Effective interest rate = 
Effective interest rate = 0.1045
Effective interest rate = 10.45 %
Thus ; the the amount of money that must be invested now is the present value with the annuity of $7, 000 per year for 12 years, starting eight years from now.
PV = 7000 × 6.666056912 × 0.4515171371
PV = $21068.87
Thus; the amount of money that must be invested now is $21068.87
Answer:
Yes
Explanation:
The customer must feel happy, and comfortable in the environment that shopkeeps set up. An unhappy customer is far less likely to purchase in quantity and may be less attracted to products. The experience of shopping must be positive if the manager wishes to succeed.
Examples may be seen in MacDonalds, where the "Happy" meal exists, where bright colours are used and service must be supportive of the customers needs and thoughts.
Answer:
310,588.5
Explanation:
As is not said we can assume the 2,100 each year to be paid at the end of the year, and the 7% to be used as a compunded anually rate. So let´s first think just about the 2,100, as they are regulary payments, they can be seen as an anuity inmediate, the formula is as follows:
where sn is the future value of the regular payments, i is the interest rate and n is the number of payments and p is the amount of regular payment so in this particular case we have:
=198,367.65
So now let´s think on the gift of 29,000 as it is paid on 10 years, there will remain 20 years with an investment rate of 7% compounded anually. so there we have the classic formula of future value
where FV is the future value, PV is the present value, i is the interest rate per period, and n is the number of periods. Again in this particular case we have:
so the total amont will be:
total=198,367.65+112,220.85
total=310,588.5
Answer:
a. Record the adjusting entry related to outstanding checks, if necessary.
No adjusting entry is necessary for recording outstanding checks.
b. Record the adjusting entry related to bank service charges, if necessary.
June 30, 202x, bank fees expense
Dr Bank fees expense 20
Cr cash 20
c. Record the adjusting entry related to Check No. 919, if necessary.
June 30, 202x, adjusting entry for mistake on recording Check No. 919
Dr Cash 9
Cr utilities expense 9
d. Record the adjusting entry related to the June 30 deposit, if necessary.
No adjusting entry is necessary for recording deposits on transit.
