Answer:
$115,643
Explanation:
The condo is now valued at $500,000
--> Future value (FV) of the condo in 5 years in 500,000 x 1.08^5 = $734,664
n = 5 years
i/r = 12%
Present value (PV) of the deposit now = 0 (no deposit has been made)
PMT (Amount of annual deposit need to be made) = ?
In order to find PMT, we need to input all the above info into financial calculator.
PMT = $115,643
Answer:
Explanation:
Select the correct answer from the drop-down menu.
Which type of college credit program does the statement describe?
In a(n) _____________
program, a student must pass an exam at the end of course with a 3 out of 5 in order to get college credit. Some colleges require even higher scores or they will not accept the credit.
This check is referred as insufficient funds
It's a deduction in bank reconciliation statement from book account and the entry to record this is
Accounts receivable (Dr) xxx
To bank (Cr) xxx
Answer:
Profit margin = $3 per unit
Explanation:
<em>The profit margin earned is the difference between selling price and the manufacturing cost</em>
Manufacturing cost per unit = variable cost + fixed overhead cost per unit
overhead absorption rate = estimated overhead/estimated machine hours
=$220,000/20,000 machine hours
= $11 per hour
Manufacturing cost per unit = 2 + (11 × 2) = $24 per unit
Profit margin = 27 - 24
= $3 per unit