Answer:
$778.82
Explanation:
Given:
Amount to be accumulated in retirement fund which is future value (FV) = $500,000
Interest rate (Rate) = 5.5% annually or 5.5 / 12 = 0.4583%
Time period (nper) = 25 years or 25×12 = 300 periods
Monthly deposit need to be computed (PMT). which can be calculated using spreadsheet function =pmt(rate,nper,PV,FV)
=pmt(0.004583,300,0,500000)
Monthly payment is computed as $778.82
Note: PMT is negative as it is a cash outflow.
Answer:
Explanation: A planning budget is prepared before the period begins and is valid for only the planned level of activity.
Answer:
1.4 million
Explanation:
Given that,
Total expense = $20 million
Sales tax in the state = 7%
Expenses are broken down into:
salaries = $12 million
supplies = $6 million
Other miscellaneous not subject to tax = $2 million
Benefit received by the nursing home from the sales tax exemption:
= Total expenses × Sales tax in the state
= 20 million × 0.07
= 1.4 million
People either get hired to balance out how much a company is paying their employees, or the price of their priduuct increases to balance out how much money their employees are getting paid
Elasticity of demand measures the sensitivity of the quantity demanded to changes in price of the things demanded. If it is inelastic then it does not respond to price change much. If it is elastic then it responds to price change a lot. Hope this helps understand elasticity of demand of the economy!
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