The number of payments that I would make before the account balance reaches $20,031 is 31 months 15 days
N is the number of monthly payments that would be made before the account balance reaches $20,031.
This formula would be used to determine the value of N
FV = P ( 1 + r)^nm
- FV = future value = $20,031
- P = monthly payments = $465
- r = interest rate = 12%/12 = 1%
- n = number of years
- m = number of compounding = 12
$20,031 = $465 x (1.01)^12n
$20,031 / $465 = (1.01)^12n
43.077419 = (1.01)^12n
Log 43.077419 = Log (1.01)^12n
log 43.077419 / log (1.01) = 12n
1.6342497 / 0.0043214 = 12n
378.17598 = 12n
n = 378.17598 / 12
n = 31.51 months or 31 months 15 days
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Answer:
Historical cost
Explanation:
Historical cost is a cost recorded in a company's book at the original value it was purchased, thus not considered as a factor that influences manufacturing location. Example of historical cost is original value of an asset (like the land where the warehouse facility will be located)which is recorded in the company's records.
The following are criterion that influences manufacturing plant or warehouse facility location decisions;
- Labour quality: The quality of labour in an area determines if an industry will be established in that area.
-Business climate: Another factor to be considered is the business climate. Is the location good enough for business activities?
-Proximity to consumers: Owners of companies also consider how close their firm would be to the buyers before they choose certain location for the establishment of their business.
-Country's infrastructure: Some foreign firms consider if the local country they want to invest in has necessary infrastructure before they make their decisions.
-Others are Suppliers, Tariffs and customs duty etc.
Answer:
The annual loan payments are closest to $3,395.36
Explanation:
The annual payment on the amortized loan can be ascertained using the pmt formula in excel :
=pmt(rate,nper,-pv,fv)
rate is the 9% annual return expected by the uncle
nper is the length of repayment which is 4 years
pv is the amount borrowed which is $11,000
fv is the future worth of the loan which is unknown
=pmt(9%,4,-11000,0)=$3,395.36
Answer:
Business activity monitoring called uses to make decisions about the operation of the business?
key performance indicators
Explanation:
Business monitoring is a key performance indicator which helps to grow any business entity, it improves the business in such a way that lapses would be discovered and be totally corrected.
