Answer:
The answer is e. None of the options.
Explanation:
(1/0.14) × $750 million= $5357 million
Answer:
The correct answer is $27.16.
Explanation:
According to the scenario, the given data are as follows:
Settlement amount = $2,800,000
Total customers = 81,000
Legal fees = $600,000
So, we can calculate the amount received by each plaintiff by using following formula:
Amount received by each = (Settlement amount - Legal fees) ÷ Number of customers
= ( $2,800,000 - $600,000 ) ÷ 81,000
= $2,200,000 ÷ 81,000
= $27.16
Yearly payments, P = $3,600
Annual discount rate, i = 8% = 0.08
Number of years, n = 12
Present value (PV) when payments are done at done the beginning of each year:
PV = P+P[1-(1+i)^-(n-1)]/i = 3,600+3,600[1-(1+0.08)^-(12-1)]/0.08 = $29,300.27
Present value (PV) when payments are done at the end of each year:
PV = P[1-(1+i)^-n]/i = 3,600[1-(1+0.08)^-12]/0.08 = $27,129.88
The difference between the two values = $29,300.27 - $27,129.88 = $2,170.39
Answer: See explanation
Explanation:
The bank reconciliation as of October 31 from the above information has been attached.
After the calculations, we can see that the reconciled balance was $761.
NB: The error of $9 was gotten as:
= $65 - $56
= $9
Other necessary information can be seen from the attachment.