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Troyanec [42]
2 years ago
10

Your coin collection contains 57 1952 silver dollars. If your grandparents purchased them for their face value when they were ne

w, how much will your collection be worth when you retire in 2055, assuming they appreciate at an annual rate of 6.4 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
kiruha [24]2 years ago
3 0

Answer:

$ 33,951.78

Explanation:

For this problem, you wan to know the future value of these coins later in 2055. For future value (FV), you need the rate, number of periods that occur (NPER), payment (PMT), and the present value (PV).

Currently, you know that you Present Value is 57, because that is how many silver dollars you have ($1 per coin). The rate is given: 6.4%. The number of periods is found by taking the year 2055 and subtracting 1952; 2055-1952=103. Then the payment is 0 here.

Rate: 6.4%

Nper: 103

PMT: 0

PV: 57

The formula for FV = PV [(1+rate)^NPER]. Or you use the function in excel of =FV(rate,nper,pmt,pv) to solve.

That should get you the answer of 33,951.78.

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You think that in 15 years it will cost $214,000 to provide your child with a 4-year collge education. Will you have enough if y
prisoha [69]

Answer:

You will not have enough.

Explanation:

The rate of the investment is compounded, so the value at year 1, will be the value at year 0, increased in a 4%. Then, the value at year 2 will be the value at year 1, increased in other 4%, that's equal to the value at year 0 increased twice at 4%.

So, the formula to calculating the value at year 15 is 75,000*(1.04)^15 = 135,070.63. THen, it will not be enough. You have to invest at least 214,000/1.04^15 = 118,826.20 at year 0, at a rate of 4%.

8 0
2 years ago
Joint ventures: a. are an alternative to new ventures. b. are attractive when entry barriers are high. c. are attractive when sp
Dafna11 [192]

Answer:

Are an alternative to new ventures.

Explanation:

Joint ventures is a business arrangement between two of more organisations to form a partnership. The oganisations involved share ownership, profits, investments.

A joint venture provides access to a large number of resources and it also provides the opportunity to gain new insight and expertise.

Different organizations enter into joint venture for either the purpose of a production process or research avtivity.

3 0
3 years ago
Andrea has prepared the following list of statements about corporations. Identify whether each statement is true or false.
Afina-wow [57]

Answer:

1.True

2.True

3.True

4.False

5.True

6.False

7.False

8.True

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10.False

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3 years ago
DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal wi
katovenus [111]

Answer:

d. Constraint

Explanation:

The dependent variable variations are explained as an effect, due to variations in causal independent variables. The dependent variable might be in form of an objective function, as a function of independent variables, which needs to be maximised or minimised. Constraint is a limitation to the objective function maximisation / minimisation.

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3 0
3 years ago
The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending D
alexdok [17]

Answer:

The year-end adjusting entries for the uncollectible accounts will be:

April 13:

Debit Allowance for doubtful accounts             $6,530

Credit Accounts receivable                                $6,530

<em>(To record write-off of accounts receivable - Dean Sheppard)</em>

May 15:

Debit Cash                                                          $3,270

Credit Accounts receivable                               $3,270

<em>(To record collection on account - Dan Pyle)</em>

Debit Allowance for doubtful accounts            $5,410

Credit Accounts receivable                               $5,410

<em>(To record write-off of accounts receivable - Dan Pyle)</em>

July 27:

Debit Accounts receivable                                $6,530

Credit Allowance for doubtful accounts           $6,530

<em>(To re-establish accounts receivable from Dean Sheppard)</em>

Debit Cash                                                          $6,530

Credit Accounts receivable                               $6,530

<em>(To record collection on account - Dean Sheppard)</em>

December 31:

Debit Allowance for doubtful accounts           $13,330

Credit Accounts receivable                              $13,330

<em>(To record write-off of accounts receivable - Miscellaneous)</em>

Explanation:

  • April 13: Shipway Company wrote-off account of Dean Sheppard, this means there would be a reduction in both allowance for doubtful accounts and accounts receivable.
  • The receipt on May 15 of $3,270 reduced the accounts receivable but increased cash. However, the write-off of $5,410 caused a reduction in both the allowance account and accounts receivable.
  • When there was a receipt of $6,530 on July 27, the accounts receivable would be reinstated and then adjusted for the cash receipt.
  • Lastly, the write-off of the uncollectible accounts from miscellaneous customers were added up to arrive at $13,330.
8 0
3 years ago
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