A book publisher has fixed costs of $400,000 and variable costs per book of $9.00. The book sells for $23.00 per copy. a. How many books must be sold to break even? (Roundup your answer to the next whole number.) Books to be sold b. If the fixed cost increased, would the new break-even point be higher or lower? O Higher O Lower O It would remain the same There is insufficient information to answer this question. c. If the variable cost per unit decreased, would the new break-even point be higher or lower? O Higher O Lower O It would remain the same O There is insufficient information to answer this question
Answers
a. The company needs to sell 22,222 books (rounded up to the nearest whole number) to break even.
b. The break-even point would increase if the fixed cost increases.
c. If the variable cost per unit decreases, the break-even point would decrease.
a. 22,222 books must be sold to break even.
Fixed costs are the costs that are fixed in nature and do not change with the level of output. In contrast, variable costs are the costs that vary with the level of output. Let's solve this problem using the Break-even analysis formula:
Break-even point = Fixed Costs ÷ (Selling Price per unit – Variable cost per unit)
Putting given values in the formula, we have:
BE = 400,000 ÷ (23 – 9)
BE = 400,000 ÷ 14
BE = 28,571.43 books
Rounding this off to the nearest whole number, we have:
Books to be sold = 28,572 books
Therefore, the company needs to sell 22,222 books (rounded up to the nearest whole number) to break even.
b. A higher break-even point
The break-even point would increase if the fixed cost increases. This is because if the fixed cost increases, the total cost would increase, and so the company would have to sell more units to cover their costs.
c. A lower break-even point
If the variable cost per unit decreases, the break-even point would decrease. This is because if the variable cost per unit decreases, the cost of producing one unit would decrease, and so the company would have to sell fewer units to cover their costs.
Learn more About Fixed costs from the given link
https://brainly.com/question/30764172
#SPJ11
Related Questions
Explain the statement social economic responsibility
Answers
Answer:
Social economic responsibility is the idea that businesses and organizations have an obligation to not only generate profits and create economic value, but also to act in a way that positively impacts society and the environment. This includes considering the social and environmental impacts of their actions, and taking steps to mitigate negative effects and promote positive ones.
Social economic responsibility is based on the understanding that businesses and organizations do not exist in isolation from the rest of society, but rather are an integral part of it. As such, they have a responsibility to contribute to the well-being of society as a whole, beyond just their own financial success.
Examples of social economic responsibility include adopting sustainable business practices, investing in local communities, supporting employee well-being and development, and engaging in philanthropic activities. By prioritizing social and environmental responsibility, businesses can not only contribute to the betterment of society, but also improve their own long-term sustainability and success.
Explanation:
netflix began as a video rental business but has expanded into producing and distributing its own programming. what type of diversification strategy is netflix using?
Answers
Netflix is using a related diversification strategy. Related diversification involves expanding into new products or markets that are related or connected to the company's existing business.
In the case of Netflix, their expansion into producing and distributing their own programming is related to their original business of video rental and streaming.
By producing and distributing their own programming, Netflix has gained more control over content creation and distribution, allowing them to differentiate themselves from competitors and provide unique offerings to their subscribers.
This diversification strategy has helped Netflix become a major player in the entertainment industry, enabling them to attract and retain customers with original and exclusive content.
Related diversification allows companies to leverage their existing resources, capabilities, and customer base to enter new markets or product categories. It also helps reduce reliance on a single revenue stream and provides opportunities for growth and innovation.
Netflix's success in content production and distribution demonstrates the effectiveness of their related diversification strategy in expanding their business and staying competitive in the evolving media landscape.
To know more about Related diversification refer to-
https://brainly.com/question/28118982
#SPJ11
having both a checking and a savings account can help one get credit and at lower rates. true false
Answers
This statement "Having both a checking and a savings account can help one get credit and at lower rates." is true as maintaining both types of accounts demonstrates financial responsibility and stability to potential lenders.
A checking account is used for daily transactions, while a savings account accrues interest and serves as an emergency fund or long-term savings goal. By properly managing both accounts, you showcase your ability to handle your finances, which can lead to better credit scores and more favorable loan terms.
Additionally, having a solid savings account can reduce the risk for lenders, making them more likely to offer you lower interest rates on credit products.
To know more about savings account refer here:
https://brainly.com/question/30545751#
#SPJ11
Employers must provide a stairway or ladder if the elevation between two surfaces on a site is.
Answers
Employers are required to provide a stairway or ladder at all worker points of access if there is an elevation change of 19 inches (48 cm) or more and no ramp, runway, embankment, or personnel hoist is provided.
What are the elevated work surfaces OSHA regulations?The final rule codifies OSHA's guidance for companies using RDS for elevated work. Employers are not allowed to utilize RDS over 300 feet above grade unless they can show that doing so would be impractical or provide a greater risk than utilizing another system.
OSHA, how tall may a platform be without a step?Now that we are clear on how OSHA defines a platform and that any exposed side or edge that is four feet or higher than a lower level need fall protection to prevent employees from falling, let's talk about guardrail specifications for work platforms.
To know more about OSHA visit:
https://brainly.com/question/9178716
#SPJ4
Which situation is most likely an indicator that an economy has reached a peak?
A. After months of consistently rising, the unemployment rate stayed the same for two months in a row.
B. After months without any change, the unemployment rate rose for two months in a row.
C. After months without any change, the gross domestic product fell for two months in a row.
D. After months of consistently rising, the gross domestic product
stayed the same for two months in a row.
Answers
One way to know that the economy has reached a peak is D. After months of consistently rising, the gross domestic product stayed the same for two months in a row.
What is a Peak?This refers to the state the economy reaches when it is producing the maximum amount it can produce. At this point unemployment is at the lowest because there is a lot of production.The GDP however, would not change at the peak because the economy would be producing the maximum it can.
In conclusion, option D is correct.
Find out more on the GDP at https://brainly.com/question/1383956.
if you require an annual return of 10%, what is the present value of this cash flow stream? do not round intermediate calculations. round your answer to the nearest cent.
Answers
The present value of the cash flow stream with annual returns of 10% is $1,347.78.
To calculate the present value of a cash flow stream, we need to discount each cash flow by the required rate of return and sum up the present values. In this case, the cash flows are $690, $390, $230, and $330 for years 1 through 4 respectively.
We input these values along with the required rate of return of 10% into a financial calculator or spreadsheet and solve for the net present value (NPV), which is $1,347.78. This means that if we invested this amount today, we would receive the cash flows in the future and earn a 10% return on our investment.
Learn more about cash flow stream https://brainly.com/question/30888255
#SPJ11
Financial transaction or non-financial transaction?
Please help.
Answers
Answer:
1.Financial transaction
2.Financial transaction
3.non-financial transaction
4.non-financial transaction
5.Financial transaction
.It’s time to pay the company’s Payroll Liabilities. What action would cause a problem in Quickbooks (i.e what should you not do)? A) Run the Payroll Liabilities reportB) Use Write Checks (or check register) to record the paymentC) Select more than one liability to pay at a time from the Pay Taxes and Other Liabilities list in the Payroll CenterD) Pay liabilities earlier than 10 days before they are due
Answers
The action that would cause a problem in Quickbooks when paying the company's Payroll Liabilities is D) Pay liabilities earlier than 10 days before they are due.
This is because Quickbooks calculates the due date of the liabilities based on the pay period end date and the payment schedule. If the payment is made earlier than 10 days before the due date, Quickbooks may not accurately reflect the payment in the liabilities report, which can cause discrepancies in the books.
It is important to note that paying liabilities earlier than 10 days before they are due is not recommended, but it is not necessarily incorrect. However, it is advisable to avoid making payments too far in advance to ensure the accuracy of the liabilities report.
To know more about Liabilities visit-
brainly.com/question/15006644
#SPJ11
According to researchers at the Ohio State University leaders who use ( a. team managment style b. employee centered behavior c. initiating structure behavior ) define the leader–subordinate role formally and set clear expectations, but the same leaders can also show (a. consideration behavior b. middle of the road style c. taskorientation) taking a more friendly, supportive approach. In Blake and Mouton’s Leadership Grid, the style labeled (a. participative b. authority compliance c. employee centered) is most similar to the approach of leaders who demonstrate the (a. initiating structure b. consideration c.directive) behavior identified by researchers at the Ohio State University.
Answers
According to researchers at the Ohio State University, leaders who use the initiating structure behavior define the leader-subordinate role formally and set clear expectations, but they can also show consideration behavior by taking a more friendly, supportive approach. The style labeled employee centered in Blake and Mouton's Leadership Grid is most similar to the approach of these leaders.
researchers at the Ohio State University, leaders who use (c. initiating structure behavior) define the leader-subordinate role formally and set clear expectations, but the same leaders can also show (a. consideration behavior) taking a more friendly, supportive approach. In Blake and Mouton's Leadership Grid, the style labeled (a. participative) is most similar to the approach of leaders who demonstrate the (b. consideration) behavior identified by researchers at the Ohio State University.
learn more about researchers here:
https://brainly.com/question/18723483
#SPJ11
1. What are 2 examples of variables that can have a correlation to the demand/forecast of a product your company makes?
2. What does it mean when we say we use the BOM to do an MRP explosion?
3. Explain what do we call "Strategic Stock". Give an example of when this could be triggered
4. Why do we say Inventory can become a liability? Provide 2 situations creating this risk
5. Why do companies use the Economic Order Quantity, and what sort of costs does it seek to minimize?
6. Your company realizes you can supply 1500 units of a certain product when demand is only 1000. Give an example of 2 actions you can explore to address this situation (1 related to supply and 1 related to demand)
7. What are the benefits of a CPFR program? What does it prevent?
8. What does the ENABLE component of the SCOR model cover and why it is not sequential like other parts of the model? give an example
9. What are 2 ways in which your company can avoid a disruption created by a regular vendor that cannot deliver a component of a product you make?
10. Describe one advantage and one disadvantage for the Push business model
Answers
"Strategic stock" refers to a quantity of inventory that is intentionally held above normal levels as a buffer against uncertainty and potential disruptions in the supply chain. It is also known as safety stock or buffer stock.
1. Two examples of variables that can have a correlation to the demand/forecast of a product your company makes are price and marketing efforts. Price can significantly impact the demand for a product - if the price is too high, it may decrease demand, while a lower price may increase demand. Marketing efforts, such as advertising and promotions, can also influence the demand for a product by creating awareness and generating interest.
2. When we say we use the Bill of Materials (BOM) to do an Material Requirements Planning (MRP) explosion, it means that we are using the BOM to determine the quantities of raw materials, components, and subassemblies needed to produce a finished product. The BOM provides a hierarchical structure that shows the relationship between the finished product and its constituent parts. MRP explosion involves taking the demand for the finished product and "exploding" it through the BOM to calculate the requirements for each level of the product structure, ensuring that the necessary materials are available at the right time to meet production needs.
3. "Strategic stock" refers to a quantity of inventory that is intentionally held above normal levels as a buffer against uncertainty and potential disruptions in the supply chain. It is also known as safety stock or buffer stock. This type of inventory acts as insurance against unexpected events that may affect the availability of materials or finished products. For example, a company may decide to trigger strategic stock if there is a forecasted increase in demand due to a promotional campaign or during a seasonal peak to ensure they have enough stock to meet customer demand.
Learn more about safety stock from the link:
https://brainly.com/question/14054595
#SPJ11
in preparing a company's statement of cash flows using the indirect method, the following information is available: net income $ 67,000 accounts payable increased by 19,500 accounts receivable decreased by 26,500 inventories increased by 8,000 depreciation expense 34,500 net cash provided by operating activities was:
Answers
The net cash provided by operating activities can be calculated using the indirect method of preparing the statement of cash flows.
To calculate the net cash provided by operating activities using the indirect method, we need to start with the net income and make adjustments for non-cash expenses and changes in current assets and liabilities.
Starting with the net income of $67,000, we need to add back the depreciation expense of $34,500 since it is a non-cash expense. This gives us a total of $101,500.
Next, we need to adjust for changes in current assets and liabilities. Accounts receivable decreased by $26,500, which means that cash was received from customers. This is a source of cash and needs to be added back to the net income. Accounts payable increased by $19,500, which means that the company paid less cash to suppliers. This is a use of cash and needs to be subtracted from the net income. Inventories increased by $8,000, which means that the company purchased more inventory using cash. This is a use of cash and needs to be subtracted from the net income.
So, the net cash provided by operating activities can be calculated as follows:
Net income: $67,000
Depreciation expense: $34,500
Increase in accounts payable: ($19,500)
Decrease in accounts receivable: $26,500
Increase in inventories: ($8,000)
Net cash provided by operating activities: $100,500
Learn more about operating activities: https://brainly.com/question/28903370
#SPJ11
describes employees who are allowed to work remotely.
Networked staff
Overtime employees
Telecommuting employees
Salaried employees
Answers
Answer:
Telecommuting employees.
Explanation:
There are numerous mediums or ways of working in the corporate world. telecommunication is one such way in which the employees are allowed to work from a remote place and do not necessarily need to come to the employer's office to do work.
Telecommunication is also known as work from home, remote work, flexible work, mobile work, etc. among others. This allows the employee to work in his/ her own space, comfort zone and also need not make them go through the hassle of traveling to and back from the office. This, in return, makes it good for the company to reduce costs be it in travel allowances, office space, and other amenities, etc.
Answer:
telecommuting employees
Explanation:
got it right on my quiz
which organization oversees volunteers who have international trade experience and who use this experience to provide one-on-one counseling to active and new export businesses? multiple choice question. world trade organization us commerce department service corps of retired executives department of commerce
Answers
The US commerce department organization oversees volunteers who have international trade experience and who use this experience to provide one-on-one counseling to active and new export businesses. Therefore option B is correct.
What is an export?
Modern economies rely heavily on exports because they give individuals and businesses access to a wide variety of new markets. Fostering economic commerce, and boosting exports and imports for the advantage of all trading parties, is one of the main goals of diplomacy and foreign policy between countries.
China reported exports of products totaling around $2.5 trillion, mostly industrial and technological equipment. The majority of the $1.6 trillion in exports from the US were capital goods. Vehicles made up the majority of Japan's exports.
Therefore option B is correct.
To learn more about export follow the link.
https://brainly.com/question/14298133
#SPJ1
Select the correct answer.
In the United States, which assessment system measures inflation?
ОА.
demand for goods
OB. supply of goods
OC.
consumer price index
OD. money supply in the economy
Answers
Answer:
C. consumer price index
Explanation:
The consumer price index CPI is the index used in the USA to measure inflation. The CPI calculates changes in the weighted average prices of a basket of goods and services representing consumer expenditure in the economy. The average change in prices computed in the CPI communicates the rate of inflation.
Inflation is the average change in prices in the economy in time. The CPI measures the changes in the weighted average prices of a basket of goods and services representative of consumer spending. Therefore, the CPI measures the rate of inflation.
Meadows manufacturing follows the accrual basis. An accrual results when ____________ and a deferral results when.
Answers
Answer:
Meadows manufacturing follows the accrual basis. An accrual results when $6,000 cash is received after a customer has been billed and a deferral results when $4,500 cash is paid for next quarter's insurance for property.
Explanation:
Pls, choose me as brainliest!
the market garden simulator is a program that simulates the tranquil and refreshing activity of growing your own garden for fun and profit.
Answers
The market garden simulator is a program that is designed to simulate the process of growing a garden for fun and profit.
The term "market" refers to the aspect of selling produce from the garden for a profit, while the term "profit" refers to the monetary gain made from the sale of produce.The simulator helps users to plan their garden and provides a realistic representation of what their garden would look like.
It also allows users to experiment with different types of plants and to observe how their garden would look in different seasons.
Overall, the market garden simulator is an excellent tool for anyone who is interested in gardening and would like to experiment with different growing techniques in order to maximize their profit.
Learn more about profit:-
https://brainly.com/question/30091032
#SPJ11
Land labor capital on strawberries
Answers
Capital: The money that would be put into the strawberry and used to pay the workers
Labor: Workers that would Lantana and harvest the strawberries
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
Read more about net income here:
https://brainly.com/question/28390284
#SPJ1
Ricky has a conventional mortgage. He can monitor the reduction of his loan balance through his payments by using _____ information.**A)amortizationB)escrowC)lockD)PMIE)points
Answers
The correct answer is A) amortization.
Amortization refers to the process of gradually reducing a loan balance through regular payments. With a conventional mortgage, each payment made by Ricky includes both interest and principal components. The amortization schedule shows how each payment is applied towards the interest and the remaining principal balance, allowing Ricky to monitor the reduction of his loan balance over time.
Learn more about amortization here
https://brainly.com/question/10561878
#SPJ11
HELP QUICK PLEASE!!!!! William is not generally a risk-taker, but he knows he may need to step out of his comfort zone to make enough money for retirement. Which investment option would best meet William’s needs?
a US savings bond
a savings account
a commodity
a certificate of deposit
Answers
g xyz corp expects to earn $4.0 per share next year and plow back 37.5% of its earnings (i.e., it expects to pay out a dividend of $2.5 per share, representing 62.5% of its earnings). the dividends are expected to grow at a constant sustainable growth rate and the stocks are currently priced at $30 per share. how much of the stock's $30 price is reflected in present value of growth opportunities (pvgo) if the investors' required rate of return is 20%?
Answers
The present value of growth opportunities (PVGO) for g xyz corp's stock is $10.
To calculate the PVGO, we first need to find the stock's dividend discount model (DDM) value. Here's a step-by-step explanation:
1. Calculate the dividend in the next year (D1): Since the company expects to pay a dividend of $2.5 per share, D1 = $2.5.
2. Determine the required rate of return (r): The investors' required rate of return is given as 20% (0.2).
3. Calculate the sustainable growth rate (g): The company plows back 37.5% of its earnings. The payout ratio is 62.5% (1 - 37.5%). With earnings per share (EPS) of $4.0, the growth rate (g) = EPS × retention ratio = $4 × 37.5% = $1.5.
4. Find the DDM value (P0): Using the Gordon Growth Model, P0 = D1 / (r - g) = $2.5 / (0.2 - 0.0375) = $2.5 / 0.1625 = $15.385.
5. Calculate the PVGO: Subtract the DDM value from the stock's current price: PVGO = $30 - $15.385 ≈ $10.
Thus, $10 of the stock's $30 price is reflected in the present value of growth opportunities.
Learn more about growth here:
https://brainly.com/question/29455664
#SPJ11
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2021, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2021, at a price of $760,000. The book value of the division’s assets was $1,330,000, resulting in a before-tax loss of $570,000 on the sale. The division incurred a before-tax operating loss from operations of $180,000 from the beginning of the year through December 15. The income tax rate is 25%. Chance’s after-tax income from its continuing operations is $710,000. Required: Prepare an income statement for 2021 beginning with income from continuing operations. Include appropriate EPS disclosures assuming that 100,000 shares of common stock were outstanding throughout the year
Answers
Include appropriate EPS disclosures assuming that 100,000 shares of common stock were outstanding throughout the year is 147,000
Income Statement
Chance Company
For the year ended Dec 31, 2021
Income from continuing operations =710,000
Discontinued operations:
Loss from operations of discontinued component =(750,000)
Income tax benefit [750,000*25%] =187,500
Loss on discontinued operations= (562,500)
Net income 147,500
Earnings per share:
Income from continuing operations
[710,000/100,000] $7.1/share
Gain(loss) from discontinued operations=[562,500/100,000] =($5.062/share)
Net income (loss)= [147,500/100,000] =$1.475/share
Sale value 760,000
Book value of the assets 1,330,000
Gain on sale -570,000
Loss from operations -180,000
Loss from operations of discontinued component -750,000
To learn more about 'stock', here:
https://brainly.com/question/29992015
#SPJ4
What is the correct syntax for automatically incrementing variable y in the initial statement of a for loop
Answers
The correct syntax for automatically incrementing variable y in the initial statement of a for loop is "y++" or "y += 1".
In a for loop, the initial statement is where you initialize the loop control variable and set its initial value. To increment the variable y automatically, you can use the "y++" notation. This notation is shorthand for incrementing the value of y by 1. So each time the loop iterates, the value of y will increase by 1.
Alternatively, you can use the "y += 1" notation, which is equivalent to "y = y + 1". This statement adds 1 to the current value of y and assigns the result back to y, effectively incrementing it by 1.
Both "y++" and "y += 1" are commonly used ways to increment a variable within the initial statement of a for loop, providing a convenient and concise way to control the loop iteration and perform operations that depend on the incremented value of y.
Learn more about loop here:
https://brainly.com/question/18846718
#SPJ11
What is an exhibit?
A. An example of a similar case that took place before
B. A summary provided after a case is over
C. A document, record, or other object formally introduced as
evidence in the court
D. Any individual involved in a case
Answers
Answer:
exhibition for companies in a specific industry to showcase and demonstrate their new products and services. ... Also, an exhibition of businesses offering franchises and/or business opportunity packages for sale.
Answer:
c
Explanation:
i just took the test and you can find the answer on g.oo.gle
A document, photograph, object, animation, or other device formally introduced as evidence in a legal proceeding.
4. Determine the importance of environment conservation from the business viewpoint
Answers
Answer:
Economic expansion is not what is causing the climate crisis; rather, the lack of effective public policy meant to lower greenhouse gas emissions is to blame. As long as regulations are in place to limit the environmental effects of the goods and services we produce and use, there is no conflict between capitalism and environmental protection. With those regulations in place, consideration for environmental sustainability can and will be factored into every decision made by the private, nonprofit, and governmental organizations from which we all benefit.
The sustainability of the environment is not affected in the same way by all consumption patterns. The emergence of more sustainable lifestyles can be seen in consumption trends. Young Americans, for instance, don't seem as interested in buying cars as their parents and older siblings did. The advancement of the mobile phone has made ride-sharing, bike-sharing, and other transit options possible.
However, taking an Uber or driving your own car are both considered economic activities for the purposes of calculating GDP. These consumption patterns are typically not the subject of policymaking because they are quite influenced by shifting social norms than by governmental action. The only exceptions might be behavior that directly harms other people, like drinking and driving or smoking in public. New technologies can also lessen the impact of consumption on the environment.
Ironically, some environmentalists and some deniers of global warming share the view that environmental protection and economic growth must be compromised. Both can and must be done. Because most people in the developed world enjoy their way of life and won't give it up, we cannot stop investing in economic development. Environmental advocates will fail politically if they make such a request.
Explanation:
Political and business leaders may not care if economic growth harms the environment, and environmentalists may disagree, contending that neither economic growth nor environmental harm can coexist.
Even by itself, environmental protection promotes economic expansion. The air pollution control technologies we install on power plants and automobiles are made and sold by a third party. Additionally, environmental amenities are valuable.
Which of the following describes a food retailer?
uses products from farmers and ranchers, commodity processors, and food manufacturers to offer food to their customers
supports the farmers and ranchers with feed and seed
transports the farmers’ and ranchers’ products and the processed and manufactured food products throughout the system
buys the processors’ products to make prepared food
Answers
Answer:
transports the farmers and ranchers
Answer:
B
Explanation:
You deposit $1,100 at the end of each year into an account paying 9.6 percent interest. a. How much money will you have in the account in 20 years? ________
b. How much will you have if you make deposits for 40 years?_________
Answers
a. You will have approximately $18,144.31 in the account after 20 years.
b. You will have approximately $68,715.20 in the account after 40 years.
To calculate the future value of the account, we can use the formula for the future value of an ordinary annuity:
Future Value = \(Payment × [(1 + Interest Rate)^(Number of Periods) - 1] / Interest Rate\)
a. For 20 years:
Payment = $1,100
Interest Rate = 9.6% or 0.096
Number of Periods = 20
Plugging these values into the formula, we can calculate the future value:
Future Value = \($1,100 × [(1 + 0.096)^(20) - 1] / 0.096\)
Future Value ≈ \($1,100 × [(1.096)^20 - 1] / 0.096\)
Future Value ≈ $1,100 × (2.657933 - 1) / 0.096
Future Value ≈ $1,100 × 1.657933 / 0.096
Future Value ≈ $18,144.31
Therefore, you will have approximately $18,144.31 in the account after 20 years.
b. For 40 years:
Payment = $1,100
Interest Rate = 9.6% or 0.096
Number of Periods = 40
Using the same formula, we can calculate the future value:
Future Value = \($1,100 × [(1 + 0.096)^(40) - 1] / 0.096\)
Future Value ≈ \($1,100 × [(1.096)^40 - 1] / 0.096\)
Future Value ≈ $1,100 × (6.745854 - 1) / 0.096
Future Value ≈ $1,100 × 5.745854 / 0.096
Future Value ≈ $68,715.20
Therefore, you will have approximately $68,715.20 in the account after 40 years.
Learn more about interest rate here:
https://brainly.com/question/28272078
#SPJ4
Mr. And mrs. Khan paid interest on their mortgage this year. They also had deductible home-related expenses. The interest and expenses total an amount greater than the standard deduction. Which action can they take to reduce their income tax liability?.
Answers
Income tax is a type of tax that governments impose on the income earned by people and enterprises under their control.
Taxpayers are required by law to submit an income tax return each year in order to determine their tax obligations. See whether the following is true: A) Mr. and Mrs. Khan can utilize the interest expenditure as a credit to lower the tax they owe because interest expenses are not deductible B) They can itemize deductions and write off the interest charge.
Itemize deductions will lower the amount of income tax due.
C) They can ask the IRS to repay them for their interest costs.
-Reimbursement is a form of discount; it is not included in reduction; it is a part of cashback.
To learn more about Income tax please click on below link
https://brainly.com/question/17075354
#SPJ4
Marta is twenty eight years old, and she has no dependents. She has saved an emergency fund and an extra $1,500.
She would like to save or invest this money in hopes that it will grow fast. Marta does not mind taking risks with her
money. Which type of account or investment is best for her?
fifteen-year savings bond
IDA
mutual fund
basic savings account earning 1.3 percent Interest, compounded monthly
Answers
Answer:
Mutual Fund
Explanation:
Mutual fund is a type of investment where professionals managed a pooled sum money contributed by different investors. These funds are invested into buying stocks , bonds other securities towards profit making.
It has its advantages in professional management , shared risks, dividends reinvestment and convenience. However , the disadvantages include poor trade execution ,potential for management bias and high fees.
Answer:
The correct answer would be a basic savings account earning 1.3% interest, compounded monthly.
Explanation:
Taking into account that Marta does not like taking risks with her money and does not have an emergency fund she should not invest in stocks. She also wishes to use her money within 18 months, so a fifteen-year savings bond would not be a great choice.
A mutual fund is a collection of money from a group of investors to buy different investments. This choice will also not work well for Marta.
An IDA is an individual development account for low-income families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. Not a great account for a single person with no dependants.
$1,500 at 1.3% interest, compounded monthly after 18 months equals about $1,520. Even though Marta won't be earning a huge amount of money, she will still earn some. Since she doesn't have an emergency fund and doesn't like risks, a basic savings account earning 1.3% interest, compounded monthly will be the right choice for her.
______ equity measures how a job's pay rate varies from company to company, while _____ equity measures a job's pay rate compared to other jobs within the same company.
A) Individual: procedural
B) Procedural; Individual
C) External: Internal
D) Internal: External
Answers
Answer:
External equity measures how a job's pay rate varies from company to company, while Internal equity measures a job's pay rate compared to other jobs within the same company.
Explanation:
1) Internal equity describes how fair the job's pay rate is in comparison to other similar positions within the same company. For Example, is the marketing manager's pay fair compared to what the production manager is earning?
2) External equity describes how a job's pay rate in one company compares to the job's pay rate in other companies. How is the CEO's pay is company XYZ compares with the CEO's pay in company ABC.