Problem 5.16 You invest $340 in a mutual fund today that pays 6.40 percent interest annually. How long will it take to double your money? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to 0 decimal place, e.g. 545)
Answers
To solve this problem, we need to use the Rule of 72, which states that the number of years it takes to double your money is roughly equal to 72 divided by the annual interest rate. In this case, we need to divide 72 by 6.4 to get approximately 11.25 years.
To solve this problem with algebra, we can set up an equation to represent the amount of money in the account after a certain number of years, t. This equation is A = 340 (1 + 0.064)t, where A is the final amount of money in the account.
We need to solve this equation for t when A is equal to 680, which is double the original amount of money. When we do this, we find that t = 11.251284, which rounds to 11.3 years.
Therefore, it will take 11.3 years for the $340 to double in value if the account earns 6.4% interest annually.
For more about interest annually:
https://brainly.com/question/30573341
#SPJ11
Related Questions
his company makes professional-quality products that are accessible to the recreational angler.
Answers
The sentence means that the company produces high-quality fishing products that are designed and marketed to appeal to recreational anglers, rather than only to professional or commercial fishermen.
The implication is that the company aims to provide products that are both high in quality and affordable to a broader range of consumers who may not have the same level of experience or investment in the sport as professional anglers.A company is a legal entity or organization that is created for the purpose of conducting business activities. It is typically formed by a group of people, often called shareholders or owners, who provide capital and resources to the company in exchange for a stake in its ownership and profits. Companies may take various legal forms depending on their structure, ownership, and purpose, including corporations, partnerships, and sole proprietorships. Companies may operate in a variety of industries and may be engaged in activities such as manufacturing, marketing, finance, research and development, or service provision.
Learn more about company :
https://brainly.com/question/30532251
#SPJ4
what do u think? like the video?
Answers
Answer:
Explanation:
Be more specific
c. Analyse why trade unions are likely to welcome an increase in the money supply. (6)
Answers
Answer:
Prolonged inflation educates trade-union leaders to bargain in real terms by allowing for expected price movements, so that incomes rapidly adjust to, or even anticipate, changes in the price level.
I am not sure about this answer.
Increased money supply often results in lower interest rates, which encourages more investment and more money in consumers' hands, which in turn increases consumption. Trade unions respond by increasing their orders for raw materials and increasing production.
What is Trade Union?A trade union commonly referred to as a union, is a group of employees who are dedicated to "maintaining or improving the conditions of their employment," such as obtaining better wages and benefits, improving working conditions, raising safety standards, establishing complaint procedures, and creating rules governing employees' status (rules governing promotions, just-cause conditions for termination, etc.).
They also work to protect the integrity of their trade by increasing bargaining power.
The trade union negotiates labor contracts (also known as collective bargaining agreements) with employers on behalf of its members, known as the rank-and-file, through an elected leadership and negotiating committee.
Learn more about Trade Union, from:
brainly.com/question/1108335
#SPJ2
Capital Budgeting Problems. What are some of the difficulties that might come up in actual applications of the various criteria we discussed in this course. Which one would be the easiest to implement in actual applications? The most difficult?
Answers
Capital budgets involves making long-term investment decisions that involve substantial amounts of money.
There are several difficulties that might come up in actual applications of the various criteria for capital budgeting. Here are some of the challenges:
Estimating cash flows: The accuracy of the investment appraisal process depends on the accuracy of cash flow estimates. It is difficult to predict future cash flows accurately because of various uncertainties such as changes in market conditions, technological advancements, and regulatory changes.
Choosing the appropriate discount rate: The discount rate used to calculate the present value of future cash flows is critical in the investment appraisal process. Choosing the appropriate discount rate can be challenging because it depends on several factors such as the cost of capital, risk profile of the investment, and the time horizon of the investment.
Incorporating risk: The investment appraisal process assumes that future cash flows are certain. However, there is always a degree of uncertainty associated with future cash flows. Incorporating risk into the investment appraisal process can be challenging because it requires subjective judgment.
Learn more about budgets here:
https://brainly.com/question/15683430
#SPJ11
3 · 32 + 8 ÷ 2 − (4 + 3)
A.
30
B.
23
C.
24
D.
32
Answers
3. The answer is 24 [c]
Someone who creates attractive presentations of food dishes for magazines is called which of the following?
a. food stylist
b. research chef
c. personal chef
d. food preparation worker
Answers
Answer:A
Explanation:
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor $216,000 $ 261,000 7 Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 151,000 $ 377,000 $360,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 50,000 Ending $ 30,000 Raw materials Work in process Finished goods 7 $ 32,000 $ 33,000 The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $750,000; the unadjusted cost of goods sold totaled $662,000; and the net operating income was $37,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. COGS COGM Income Statement Schedule Schedule Prepare an income statement for the year. Superior Company Income Statement Selling and administrative expenses: Check my work Complete this question by entering your answers in the tabs below. Income COGS Statement Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Adjusted cost of goods sold Prepare a schedule of cost of goods manufactured. Direct materials: Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Superior Company Schedule of Cost Goods Manufactured
Answers
Superior Company Income Statement for the year ended December 31
Sales Revenue $699,000
Cost of Goods Sold:
Beginning Inventory (Work in Process) $32,000
Add Cost of Goods Manufactured $665,000
Goods Available for Sale $697,000
Less Ending Inventory (Finished Goods) $33,000
Cost of Goods Sold $664,000
Gross Profit $35,000
Selling and Administrative Expenses $216,000
Net Operating Income $19,000
COGS Schedule:
- Beginning Work in Process Inventory: $50,000
- Add Direct Materials: $261,000
- Add Direct Labor: $151,000
- Add Manufacturing Overhead Applied: $333,000 ($470,000 − $137,000)
- Total Cost of Work in Process: $795,000
- Less Ending Work in Process Inventory: $32,000
- Cost of Goods Manufactured: $763,000
COGM Schedule:
- Beginning Raw Materials Inventory: $7,000
- Add Purchases of Raw Materials: $261,000
- Total Raw Materials Available: $268,000
- Less Ending Raw Materials Inventory: $32,000
- Direct Materials Used in Production: $236,000
- Direct Labor: $151,000
- Manufacturing Overhead: $333,000 ($470,000 − $137,000)
- Total Manufacturing Costs Added: $720,000
- Add Beginning Work in Process: $50,000
- Total Manufacturing Costs to Account For: $770,000
- Less Ending Work in Process: $32,000
- Cost of Goods Manufactured: $738,000
Income Statement:
- Sales: $699,000
- Less Cost of Goods Sold: $664,000
- Gross Profit: $35,000
- Less Selling and Administrative Expenses: $216,000
- Net Operating Income: $19,000
For more such questions on Income Statement
https://brainly.com/question/28936505
#SPJ8
Categorize the studies as either Revealed Preference or Stated Preference. (Hint: each study belongs to one category)
Answers
Revealed Preference and Stated Preference are two primary methods to assess consumer preferences and determine how people allocate their resources. The researchers study the consumers' behaviors in the past, and they derive the preferences of consumers based on the data.
Revealed Preference is a type of method in which economists use the consumer's actual behavior to determine their preferences. In contrast, Stated Preference is a type of method in which economists ask consumers about their preferences.In Revealed Preference, the researchers observe the consumer's behavior and then derive their preferences. On the other hand, Stated Preference requires the consumer to respond to a questionnaire, and the researchers then analyze the results to understand the consumer's preferences.
In conclusion, Revealed Preference is when researchers use a consumer's behavior to determine their preferences, while Stated Preference is when researchers ask the consumers about their preferences to understand their preferences.
To know more about Consumer Preference visit-
https://brainly.com/question/31065987
#SPJ11
total revenues equal $25,700, and total expenses equal $17,500. what is the amount of net income or net loss? a.net income of $8,650 b.net income of $25,700 c.net loss of $8,200 d.net income of $8,200
Answers
$25,700 total revenue and $17,500 total expenditures. how much you made or lost as net income $8200 in net income.
How is net income determined on a balance sheet?You deduct taxes, interest, selling and administration costs, cost of goods sold (COGS) (if applicable), depreciation, and amortization from the business's gross revenue to arrive at net income. The sum you arrive at is referred to as the company's net income and is the "net" result of those costs.
Is total revenue minus total expenses equal to net income the method for determining net income?The formula for calculating gross income is the first part of the equation, which is revenue less cost of goods sold. (See our easy tutorial on how to determine cost of goods sold.)
To Know more about gross revenue
https://brainly.com/question/28103328
#SPJ1
A $20 bill features which of the following on the reverse?
A. US Treasury
B. White House
C. US. Capital
D. Independence Hal
Answers
Answer:
B. White House
Explanation:
A portrait of the White house is the main feature visible at the reverse of a $20 bill. The bill has security features, but the White house Image is dominant. At the front, a portrait of the 7th US president Andrew Jackson is visible
Which of the following is NOT one of the four components of the business process
Answers
Answer:
mark me as the brainliest plss
What would most likely have a major impact on commercialization?
A) a nation-wide economic recession
B) development of a prototype
C) discovery of a point of difference
D) development of a protocol
Answers
The "development of a prototype" is most likely to have a major impact on commercialization.The correct option is B.
The prototype is the working model of a product which is used to test its operational processes like design, functionality, and performance.
The developing a prototype for businesses or organizations can evaluate the technical feasibility and market potential of their products to make necessary improvements before launching that product to market.
The perfect prototype can help the business or organization to attract investors and customers. A prototype can also provide valuable feedback from users and stakeholders.
Therefore, the correct option is B which is development of a prototype.
To know more about prototype here,
https://brainly.com/question/28187820
#SPJ4
Which of the following describes the relationship between successful marketing campaigns and increased sales or attendance?
A. Marketing campaigns can increase the attendance at a game due to the additional promotional strategies.
B. Marketing campaigns generally do not have an impact on game attendance.
C. Marketing campaigns usually result in decreased game attendance.
D. Unsuccessful marketing campaigns usually result in increased game attendance.
Answers
The correct statement is marketing campaigns can increase the attendance at a game due to the additional promotional strategies. Option a is correct.
Marketing is a set of activities that involves creating, promoting, and distributing a product or service to a specific audience. The goal of marketing is to attract and retain customers by meeting their needs and wants.
The relationship between successful marketing campaigns and increased sales or attendance is that marketing campaigns can increase attendance at a game due to the additional promotional strategies. For example, marketing campaigns can increase attendance at a game by promoting the game through social media platforms, billboards, commercials, or radio ads.
These promotions help create buzz around the game, and more people are likely to attend because they are aware of the event.
Therefore, a is correct.
Learn more about marketing campaigns https://brainly.com/question/30237897
#SPJ11
a labor-intensive process has a fixed cost of $338,000 and a variable cost of $143 per unit. a capital-intensive process for the same product has a fixed cost of $1,244,000 and a variable cost of $92.5 per unit. how many units must be produced and sold at 197$ each for the capital intensive process to be preferred over the labor-intensive process?
Answers
The 17,941 units should be produced and sold for the capital intensive process to be preferred over the labor-intensive process.
The computation of the number of units that should be generated and sold forcapital intensive process is shown below:
Let us assume the number of units be n
Now as we know that
Total labor cost = variable cost + fixed cost
So the equations are
For labor intensive = $33,8000 + 143 n
And
For capital intensive = $1,244,000 + $92.5n
It could be written as
$1,244,000 + $92.5 n < $338,000 + $143 n
After solving it
n> 906,000÷ 50.5
n>17941
And,
$1,244,000 + $92.5 n < 197 n
After solving it
n>$1,244,000 ÷ 104.5
n>11,904
So the highest is 17,941
Therefore the 17,941 units should be produced and sold
To learn more on capital intensive process, visit:
https://brainly.com/question/20534039
#SPJ4
In the nation of Wiknam, the money supply is $80,000 and reserves are $18,000. Assuming that people hold only deposits and no currency, and that banks hold no excess reserves, then the reserve requirement is
Answers
In the nation of Wiknam, when the money supply is $80,000 and reserves are $18,000, then the Required reserve ratio is 22.5%.
What is money supply?The money supply is the term that is used in the macroeconomics. It refers to the total amount of currency held by the public at any given time.
There are a variety of methods to define “money,” but the most common indicators are currency in circulation and demand deposits. People hold no currency and bank holds no excess reserve.
Computation of Required reserve ratio:
According to the given information,
Money Supply = $80,000
Reserves = $18,000
Firstly, apply the formula of money supply:
\(\text{Money Supply}= \text{Money Multiplier} \times \text{Reserve}\\\\ \text{Money Multiplier}= \dfrac{\text{Money Supply}}{\text{Reserve}}\\\\\text{Money Multiplier}= \dfrac{\$80,000}{\$18,000}\\\\\text{Money Multiplier}=4.44\)
Now, as we know that:
\(\text{Money Multiplier} = \dfrac{1}{\text{Required Reserve Ratio}}\\\\\text{Required Reserve Ratio} = \frac{1}{\text{Money Multiplier}}\\\\\text{Required Reserve Ratio} =\dfrac{1}{4.44}\\\\\text{Required Reserve Ratio}= 0.225\\\\\text{Required Reserve Ratio}= 0.225 \times 100\\\\\text{Required Reserve Ratio} = 22.5\%\)
Therefore, required reserve ratio is 22.5%.
Learn more about the money multiplier, refer to:
https://brainly.com/question/14986591
#SPJ1
Celestial Insurance hires college graduates and prepares them for management careers. The human resource professionals who prepare the programs that teach leadership and business management to these employees are involved in which HR function?
Answers
Answer:
Development
Explanation: A P E X
The human resources profession are involve in development function of the employees.
The Human resources personnel is saddled with responsibility of overseeing process of recruitment, interview, and hire of new staff.
In every company, the Human resources personnel serves as a link between the management and its employees.
After the recruitment process of hiring an applicant, the HR Personnel also provide them with lectures on Leadership and Business management which will help them in their career development.
Therefore, in conclusion, the role performed by the HR personnel is known as Development function in the company.
Learn more about HR Personnel here
brainly.com/question/16915452
why is etiquette important in debate tournaments
Answers
true or false entrepreneurs run into surprise challengers and problems and these always blunt the social impact
Answers
entrepreneurs run into surprise challenges and problems and these always blunt the social impact of the statement is true.
An entrepreneur finds a need that no company currently fills and decides on a method to fill it. Business activity includes creating and launching a new company as well as carrying out a business marketing strategy, frequently with the intention of eventually selling the business for a profit. A serial entrepreneur is someone who frequently founds new businesses, sells them, and then begins new ones. Whether a business owner qualifies as an entrepreneur relies on a variety of factors, including whether they founded the company and other legal considerations. Nevertheless, every creator of a well-known company started out as an entrepreneur.
Learn more about entrepreneurs here:
https://brainly.com/question/13897585
#SPJ4
what should you consider regarding auto insurance before buying a vehicle
Answers
Answer:both a and c
Explanation:
i did the quiz
for-profit organizations pursue several different types of goals such as profit, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. which of these statements is most accurate?
Answers
For-profit organizations pursue a variety of objectives, including Welfare is the most precise term.
Is choosing a market share target only important if you also have a profit goal in mind?Only after establishing profit as a goal can you meaningfully choose a market share objective. A company should choose just one objective to help it stay focused. Only nonprofit organizations are allowed to pursue civic conscience and employee welfare objectives.
Do achieving high customer satisfaction levels typically result in higher costs and lower profits?Goals for customer satisfaction are known to drive up costs and drive down earnings. The option of choosing responsibility to society and employee as objectives is only available to nonprofit enterprises. A company should choose just one objective to help it stay focused.
To know more about Welfare visit:
https://brainly.com/question/28158367
#SPJ4
2. If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)
Answers
The correct answer to this open question is the following.
Although the question does not provide any context, references, or give options, we can say that if changes happen during September or October, the expenses you will be able to change most easily are according with the provisions projected in the annual plan, the budget, compared with the monthly expenses.
That is why a company has to elaborate on a good financial plan and overseeing the projections and true sales of the marketing and sales plan. This is important to take the proper control of expenses and revenues. Depending on the volume of sales during September and October, you can decide what kind of changes or adjustments to make in the following months.
Answer:
I would be able to change the variable expenses most easily. Such as food, clothing, and discretionary spending.
I could make the change by
Budgeting in October:
food from spending -$70 back to -$60
cut clothes off since I bought some already from -$40 to $0
budget my discretionary spending from -$60 back to -$40
This would increase my savings to $230
one advantage of the double-entry method of bookkeeping is that it helps to identify mistakes made in recording financial transactions. true false
Answers
The statement is True. One advantage of the double-entry method of bookkeeping is that it helps to identify mistakes made in recording financial transactions.
The double-entry method of bookkeeping is a widely used accounting technique that records every financial transaction with at least two corresponding entries. This method has several advantages, one of which is its ability to identify mistakes made in recording financial transactions. In double-entry bookkeeping, each transaction is recorded in at least two accounts: a debit entry and a corresponding credit entry. The total debits must always equal the total credits, ensuring that the accounting equation (Assets = Liabilities + Equity) remains balanced. This balance is crucial because any discrepancy indicates an error in recording.
By following this systematic approach, the double-entry method provides a built-in mechanism for error detection. If the debits and credits do not match or if the accounting equation is not balanced, it indicates that an error has occurred in recording the transaction. This prompts accountants to review and rectify the mistake, ensuring the accuracy and integrity of the financial records.
Learn more about bookkeeping from here:
https://brainly.com/question/31230610
#SPJ11
how can technology boost prosuctivity in ur business
Answers
Technology has transformed the way businesses operate, enabling them to increase efficiency, save time and resources, and ultimately boost productivity. Here are some ways technology can help businesses achieve this:
Automation: Technology can automate repetitive tasks, such as data entry, invoicing, and payroll processing, freeing up valuable time for employees to focus on more important tasks. Collaboration: Technology enables employees to collaborate and communicate more effectively, regardless of their location, through tools such as video conferencing and instant messaging.
Cloud Computing: Cloud computing allows businesses to store and access data and applications from anywhere, at any time, providing flexibility and accessibility to employees.Analytics: Technology can provide businesses with insights into their operations through data analytics, allowing them to identify areas for improvement and make data-driven decisions.
Mobile devices: Mobile devices have enabled employees to work on the go, allowing them to be productive even when they're away from the office.In conclusion, technology can significantly boost productivity in businesses by automating tasks, enabling collaboration and communication, providing flexibility, delivering data insights, and facilitating remote work. As technology continues to evolve, businesses must stay up-to-date with the latest tools and trends to remain competitive and productive.
For more such questions on businesses visit:
https://brainly.com/question/24553900
#SPJ11
8.) A mass lecture for 500 freshmen in the College of Business probably scores:
A. high on customer contact and low on intangible activities.
B. low on customer contact and low on intangible activities.
C. high on customization and high on intangible activities. (i thought this one was the correct answer)
D. low on customization and high on intangible activities.
19.) Activities that take place prior to the point of customization are called upstream activities. T/F
21.) A development process creates new products or services for the supply chain T/F
Answers
8.) A mass lecture for 500 freshmen in the College of Business probably scores low on customization and high on intangible activities. Therefore, the correct option is D.
19.) The statement 'Activities that take place prior to the point of customization are called upstream activities' is true.
21.) The statement 'A development process creates new products or services for the supply chain' is true.
8.) A mass lecture for 500 freshmen would have low customization because the lecture content is prepared for a large audience without personalization for individual students. It would also have high intangible activities since lectures are knowledge-based and involve conveying information, which is intangible.
In other words, a mass lecture for 500 freshmen in the College of Business probably scores low on customization and high on intangible activities because it is difficult to customize the learning experience for 500 students at the same time, and the lecture likely involves a lot of intangible activities such as listening, note-taking, and absorbing information that is not directly tangible or measurable.
19.) Activities that take place prior to the point of customization are called upstream activities. The statement is true.
Upstream activities are the processes and tasks that happen before customization in the supply chain. These activities are typically focused on procuring raw materials, components, and other necessary items for product or service creation.
21.) A development process creates new products or services for the supply chain. The statement is true.
A development process is a series of activities and steps taken to create and introduce new products or services into the supply chain. This includes research, design, testing, and refinement, ultimately resulting in a final product or service that can be offered to customers.
Learn more about Intangible activities:
https://brainly.com/question/12097740
#SPJ11
Steve just computed the present value of a $10,000 bonus he will receive in the future. The interest rate he used in this process is referred to as which one of the following
Answers
The interest rate Steve used in computing the present value of a future $10,000 bonus is referred to as the "discount rate."
In finance and investment, the discount rate is the rate used to calculate the present value of future cash flows. It represents the opportunity cost of investing money in a particular investment or project, taking into account the time value of money. By discounting future cash flows back to the present value, one can assess the current worth of an investment or a future payment like the $10,000 bonus in this case.
Know more about discount rate, here:
https://brainly.com/question/13660799
#SPJ11
ECON please answer this question ASAP
Answers
Please explain to me this question in full detail I’m a slow learner please tell me which time table to use thank you
Here’s the question
ABC Inc. leased a drilling equipment form a regional oil services company. The oil company purchased the drilling equipment from an international drilling equipment manufacturer at a cost of700,000 SR. The following information is given:
Which Condition met?
Given these information
Lease term:
3 years
semiannual (at the end
Payment frequency:
of the periods)
Economic life of the
Three years
asset
Pavment amount:
120,000 SR
Rate (lessors and the
12%
lowest rate)
• Ownership transfers
O A bargain purchase option
• The noncancelable lease term is equal to 75% or more of the expected economic life of the asset,
• The PV of the minimum lease payments is 90% or more of the fair value of the asset
Answers
Note that Neither ownership transfer nor bargain purchase option condition is met based on the given information.
What is the explanation for the above response?Ownership transfer occurs when the lease agreement allows the lessee to purchase the leased asset at a predetermined price, typically lower than the fair market value.
A bargain purchase option occurs when the lessee has an option to purchase the leased asset at a price significantly lower than the asset's expected fair value at the end of the lease term. In the given scenario, neither of these conditions is met, meaning that the lessor retains ownership of the asset, and the lessee does not have a purchase option at a bargain price.
Thus, Neither ownership transfer nor bargain purchase option condition is met.
Learn more about Ownership Transfer at:
https://brainly.com/question/15409435
#SPJ1
FIRST ANSWER WILL BE NAMED BRAINLIEST
Which action would effectively and appropriately address a budget deficit?
A. reduce income
B. reduce expenses
C. apply for bankruptcy
D. apply for new credit
Answers
Answer:
It is letter B
Explanation:
Reducing expenses would effectively and appropriately address a budget deficit. Thus option B is correct.
What is the budget?A budget is a financial plan that projects future earnings and costs. A budget, put simply, forecasts future finances in addition to anticipated revenues and expenditures. Calculating the company's earnings and costs for a set period of time is the procedure for creating a budget.
Increasing tax rates while decreasing government expenditures are the two apparent ways to minimize a budget deficit. the reduction of government spending and/or the raising of taxes, which results in either a rise in the primary surplus or a decrease in the budget deficit. greater taxes and less funding by the government. If public spending is lower than tax receipts, a budget surplus results.
Therefore, option B is the correct option.
Learn more about budget, Here:
https://brainly.com/question/15683430
#SPJ2
1. Suzie’s Flowers purchases a wide variety of houseplants. One of Suzie's favorites, the large split leaf philodendron, costs $13.50 from the wholesaler and requires an additional $1.00 per plant to take care of and then package prior to sale. Suzie's normal markup on houseplants is 55%. What would be the retail selling price of a large split leaf philodendron?
2. A manufacturer sells a 3-person tent to its wholesalers for $59.95. Wholesalers take a markup on selling price of 15% and sell to retailers who take a markup on selling price of 45%. How much does this tent cost you?
Answers
Answer:
$22.475 and $99.96
Explanation:
1. Split-leaf philodendron, costs $13.50 and requires an additional $1.00 per plant to prepare for a sale. The total cost of the plant is $14.50 ($13.50 + $1.00)
If Suzie desires a 55% mark-up, the retail prices will be the cost price plus 55% of the cost.
The cost price of $14.50 is equal to 100%
the retail price will be 155% of $14.50
=155/100 x $14.50
=1.55 x $14.50
=$22.475
2. The manufacturer sells the tent for $59.95.
$59.95 is equivalent to 100%. If wholesalers mark-up is 15%, they will sell the tents to retailers at 115% of $59.95
=115/100 x $59.95
=1.15 x $59.95
=$68.94
Retailers mark up is 45% of $68.94. consumers buy the tents at 145% of $68.94
=145/100 x $68.94
=1.45 x $68.94
=$99.96
you borrowed $500,000 at 7% annual interest rate that you must repay over 5 years. the loan is amortized into five-equal end-of-year payments. (1) calculate annual payment amount.
Answers
The annual payment amount for a $500,000 loan at a 7% annual interest rate to be repaid over 5 years with five-equal end-of-year payments is $143,265.32.
To calculate the annual payment amount, we can use the formula for the present value of an annuity:
PV = PMT x [1 - (1 + r)⁻ⁿ] / r
where PV is the present value of the loan, PMT is the annual payment amount, r is the annual interest rate, and n is the number of years.
We know that PV is $500,000, r is 7%, and n is 5. We can solve for PMT:
PMT = PV x r / [1 - (1 + r)⁻ⁿ]
= $500,000 x 7% / [1 - (1 + 7%)⁻⁵]
= $143,265.32 (rounded to two decimal places)
To know more about annual payment, refer here:
https://brainly.com/question/29217776?#
#SPJ11