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2 years ago

6

Ahmad just put some money into a CD that pays 11.3% interest, compounded semiannually. According to the rule of 72, in approxima

tely how many years will he have 4 times the amount of money that he has now?

2 answers:

coldgirl [10]2 years ago

7 0

he will have it in 12.7 years

Anarel [89]2 years ago

5 0

Answer:

On A.p.e.x its 12.7

Explanation:

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Brown Office Supplies recently reported $20,000 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depre

laiz [17]

Answer:

Net earnings before taxes = $9,300

Explanation:

Provided information, we have

Sales for the period = $20,000

Less: Operating Cost = $8,250

Less: Depreciation = $1,750

Operating income = $10,000

Less: Interest = $10,000 $\times$ 7% = $700

Thus, net earnings before taxes = $9,300

Note: All the expenses including depreciation, and interest are charged before taxes.

Therefore, depreciation and interest has been deducted before charging taxes.

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2 years ago

An annuity with an infinite life is called a(n) ________. A. perpetuity B. deep discount C. primia D. option

Tasya [4]

Answer:

The correct answer is letter "A": perpetuity.

Explanation:

Annuities are regularly-provided income hired through insurance. Those payments can be provided within a short or long period of time until an undetermined date. That is the reason why annuities are also called perpetuities. Annuities are taxed at regular income tax rates.

3 0

2 years ago

Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on December 31. The follow

Annette [7]

Answer and Explanation:

The preparation of the following statement is

<u>Cash Basis Statement Accrual Basis Statement</u>

<u>Income Statement Income Statement </u>

Revenues Revenues

Cash Sales $500,000 Sales to Customers $750,000

Customer Deposits $70,000

Total $570,000 Total $750,000

Expenses Expenses

Inventory Purchase $90,000 Cost of Sales $485,000

Wages Paid $180,300 Wages expense $184,000

Utilities paid $17,200 Utilities expense $19,130

Total $287,500 Total $688,130

Net Income $282,500 Net Income $61,870

3 0

2 years ago

An investment pays you $30,000 at the end of this year, and $15,000 at the end of each of the four following years. What is the

Stella [2.4K]

Answer:

Present value of the cashflow discounted at 5% per year 76,815.65

Explanation:

First, we calculate the present value of the 4 years 15,000 dollar annuity:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 15,000.00

time 4

rate 0.05

$15000 \times \frac{1-(1+0.05)^{-4} }{0.05} = PV\\$

PV $53,189.2576

Now, we discount two more year as lump sum as this is two year after the invesmtent:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 53,189.26

time 2.00

rate 0.05000

$\frac{53189.2575624354}{(1 + 0.05)^{2} } = PV$

PV 48,244.2245

Finally we also discount the 30,000 by one year

30,000 / 1.05 = 28571.43

<em><u>We add up both to get the present value:</u></em>

48,244.22 + 28,571.43 = 76,815.65

8 0

2 years ago

Jensen Cleaning Service uses the listed accounts. (Some of the accounts will be explained in Lesson 2-3.) Prepare two T accounts

Westkost [7]

Answer:

Cash Sales Transaction

Journal Entry

Dr. Cash 100,000

Cr. Sales 100,000

Cash received and sales has been recorded due to the nature of Cash and Income, Cash and Sales is entered as Debit and credit respectively.

* For Journal posting MS excel file is attached which has T account with above transaction posted in it.

Explanation:

5 0

2 years ago