Answer:
$20,676.53
Explanation:
The qeustion is to determine Future Value of the withdrawal Anna will make in 4 years
Amount in Savings - Amount Withdrawn today) x 1 + rate - Amount to be withdrawn a year from today ) x 1 + rate ∧3 years
$38,654 - $10,000 x 1.023
= $28,564 x 1.023
= 29,313.042- 10,000 =
19,313.042 x 1.023 ∧3
=19,313.042x 1.070599167
$20,676.53
This means that after withdrawing $10,000 to day and another $10,000 one year form today, from Anna's initial savings of $38,654, she will be able to withdraw her entire balance of $20,676.53 in 4 years time.
Answer:
The correct answer is option A.
Explanation:
The demand for cantaloupes is unitary elastic at price level $2.50. The demand curve here is linear and downward sloping. The elasticity of demand is 1.
In this linear demand curve the lower portion will represent inelastic demand.
When the price level is reduced to $2 the demand will move to the lower portion of the curve, with fall in price and increase in demand.
So, at $2 price the demand will be inelastic, which means it will be between 0 and 1.
Answer:
$2,000
Explanation:
Usually, the landlord is required to notify the tenant if he/she plans to sell the property, but regardless of who owns the property (the original landlord or a new landlord), the contract terms are valid and must be honored by both the current landlord and the tenant.
The new owner immediately became the new landlord and he/she assumed all the responsibilities stated in the lease contract. Since the lease contract stated that the "lessor (landlord) agreed to maintain all structures on the property in good repair", the new landlord must pay for any necessary repairs.
Answer:
The estimated amount of Bad Debt Expense for the year is $12,950
Explanation:
According to the given data we have the folloiwng:
reported sales during the year= $226,500
credit sales=$185,000
Libby has experienced bad debt losses of 7% of credit sales in prior periods
Therefore, in order to calculate the estimated amount of Bad Debt Expense for the year we would have to make the following calculation:
estimated amount of Bad Debt Expense=credit sales×bad debt losses percentage of credit sales in prior periods.
Hence, estimated amount of Bad Debt Expense= $185,000× 7%
estimated amount of Bad Debt Expense= $12,950
The estimated amount of Bad Debt Expense for the year is $12,950
