Answer:
The amount that has to be deposited today is $6205.63
Explanation:
The given parameters are;
The annual interest rate for the first 5 years = 4 percent
The annual interest rate for the next 4 years = 4.6 percent
The annual interest rate for the final 8 years = 5.3 percent
Let the amount deposited be X, we have;
X × (1 + 0.04)⁵ + X × (1 + 0.04)⁵×(1.046)⁴ + X × (1 + 0.04)⁵×(1.046)⁴ ×(1.053)⁸ = $30,250
X ((1.04)^5 + (1 + 0.04)^5×(1.046)^4 + (1 + 0.04)^5×(1.046)^4 ×(1.053)^8) = $30,250
X × 4.875 = $30,250
X = $30,250/$4.875 = $6205.63
The amount that has to be deposited today = $6205.63.
Answer:
Secondary data technique is not perfect for marketing research
Explanation:
The secondary method is useful, as it is difficult to perform or conduct a new survey. More, importantly using secondary data technique in marketing research is not an ideal method, because the data may be inaccurate or outdated. The pharmaceutical company was performing marketing research, and usually, the availability of new marketing data is challenging to get from secondary sources.
Answer:
The answer is A. £0.699/$; £0.699/$
Explanation:
The direct quote for British investor is the same as the indirect quote for the U.S. investor.
Calculation is as follows; 1/1.43 = 0.699
Answer:
1. Grace was credited for three months taxes.
Explanation:
We need to understand proration. The buyer needs to pay for the taxes the date the property is owed to him, and the seller needs to pay for the taxes till he is having the property. Now he has paid for a year, and the year ends on October 1st. However, he is going to owe the property until Jan 1st. And hence, Grace is credited with the 3 months taxes.
The following journal entries will be passed in the books of accounts:
<u>Explanation:</u>
date account and explanation Debit Credit
July 1 Cash 74000
Notes payable-First national bank 74000
Nov 1 Cash 77000
Notes payable-Lyon country state bank 77000
Dec 31 Interest expense 2960
Interest payable 2960
(to record accrued interest)
Interest expense 770
Interest payable 770
(To record accrued interest)
Feb 1 Notes payable-Lyon country state bank 77000
Interest payable 770
Interest expense 385
Cash 78155
(To record amount paid)
Apr 1 Notes payable-First national bank 74000
Interest payable 2960
Interest expense 1480
Cash 78440
(To record amount paid)
