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Likurg_2 [28]
2 years ago
9

a) Sixteen years ago your parents opened a saving account in your name and made a lump sum deposit, today the balance of this ac

count is $260,000. If the account has been earning 6% compounded annually, how much did your parents initially deposit
Business
1 answer:
Sonbull [250]2 years ago
8 0

Answer:

$102,348.034

Explanation:

It is a simple problem of Compound Interest, we have to find the Principle amount invested.

Given:

Future value (F) = $260,000

Rate(R) = 6% = 6/100 = 0.06

Number of years (n) = 16 years

Initial deposit (C) = ?

Calculation:

Future value (F) = C\times (1+R)^n\\Future value (F) = C (1+0.06)^{16}\\260,000 = C(2.54035168)

$260,000/2.54035168 = C

$102,348.034 = C

So, Initial cash Deposit = $102,348.034

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Answer:

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                                                     Debt investment        8850  

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Explanation:

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2 years ago
An expenditure made in connection with a machine being used by an enterprise should be:
GarryVolchara [31]

Answer:

The correct answer is D

Explanation:

Expenditure is the funds which is used by organizations, firms or the corporations in order to attain the improve existing ones, new assets or the decrease the liability. In short, it is the use of the resource in the business operations.

So, when the expenditure is made on machine which is used by an enterprise need to be capitalized if it increase the quantity produced by the machine.

6 0
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Which of the following is an incorrect statement regarding Bonus Depreciation? A. Bonus Depreciation is useful to very large bus
daser333 [38]

Answer:

C. Bonus Depreciation only covers new equipment.

Explanation:

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process builder( c )

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Answer:

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