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soldi70 [24.7K]
2 years ago
13

You have just started a new job and plan to save $5,250 per year for 35 years until you retire. You will make your first deposit

in one year. How much will you have when you retire if you earn an annual interest rate of 9.47 percent
Business
1 answer:
nasty-shy [4]2 years ago
6 0

Answer:

FV= $1,260,205.98

Explanation:

Giving the following information:

Annual deposit= $5,250

Number of years= 35 years

Annual interest rate= 0.0947

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,250*[(1.0947^35)-1] / 0.0947

FV= $1,260,205.98

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Using the T-accounts template, open (set up) the T-accounts with the balances from the Balance Sheet (located in the first works
STatiana [176]

Answer:

b

Explanation:

6 0
2 years ago
The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $1,100 and $475, respect
Hitman42 [59]

Answer:

$575

Explanation:

Given that,

Opening office supplies = $1,100

Closing office supplies = $475

Office supplies expense for the month = $1,200

Opening stock + Purchases - Closing stock = Consumption

$1,100 + Purchases - $475 = $1,200

$625 + Purchases = $1,200

Purchases = $1,200 - $625

                  = $575

Therefore, the amount of office supplies was purchased during February is $575.

7 0
2 years ago
Changes in board of director configurations over time indicate that currently boards are dominated by outsiders (with over 84 pe
skad [1K]

Changes in board of director configurations over time indicate that currently boards are dominated by outsiders (with over 84 percent being outside board members). Boards are smaller (with most being smaller than 12 members) and a decrease in the percentage of female directors from 15 percent to 12 percent between 2012 and 2016.-This statement is true

Explanation:

The statement in the questions highlights the following facts:-

  • 84% of the board members are outsiders.
  • Also the size of the Board has been limited to 12 members.So it means that out of the 12 members 84% of the members are outsiders.
  • Another fact revealed by the statement is that the percentage of female directors has also been reduced.In the year 2012 the percentage of females holding the position of the director was 15% which has been declined to 12% in the year 2016.

So the statement reflects the changes in the board of director configuration from the year 2012 to 2016.

The statement , currently boards are dominated by outsiders indicates that in the year 2016 the board of directors positions is mainly held by the outsiders.

8 0
2 years ago
On October 1, 2018, Ellington Company establishes an imprest petty cash fund by issuing a check for $200 to Erin Angelo, the cus
lukranit [14]

Answer:

Dr. Freight-in                           $28

Dr. Supplies Expense             $42

Dr. Entertainment of Clients  $65

Dr. Postage Expense              $30

Dr. Cash Short/over                $3

Cr. Cash (200-32)                   $168

Explanation:

Petty cash is kept to deal with the day to day expense of the business. It is kept separate from the cash balance of the company.

To replenish the fund we, need to record the petty cash expenses  in their respective accounts and deduct the amount from petty cash account.

If the cash is short or over the balance shown in the account we also need to record it.

4 0
2 years ago
Reducing alcohol-related crashes in florida by 10% would save more than $__________ million in claims payments and loss adjustme
Andrei [34K]
I believe the answer is $180 million.
This amount took around 17% of the total amount of insurance claim that happened within the state.
This high amount is correlated to the fact that Florida containt a lot of tourist night clubs/bar which increase the likelihood of drunk driving activities.
3 0
2 years ago
Read 2 more answers
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