BUSINESS COLLEGE

The distribution of the amount of money spent by students for textbooks in a semester is approximately normal in shape with a mean of $235 and a standard deviation of $20. According to the standard deviation rule, how much did almost all (99.7%) of the students spend on textbooks in a semester?

Answers

Answer 1
Answer:

Answer: $295

Explanation:

Given that,

Amount spent by the students is normal in shape

Mean = $235

Standard deviation = $20

99.7% is within 3 standard deviations of the mean:

= Mean + 3 × Standard deviation

= $235 + 3 × $20

= $235 + $60

= $295

The amount of $295 is spent by all the students on textbooks.

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A bottle of wine costs $8 and a quiche, $5. At Robert's present levels of consumption, he spends all his income and receives marginal utility of $10 from the last bottle of wine and marginal utility of $4 from the last quiche. To maximize his total utility, Robert should a. buy less wine and more quiche. b. buy more wine and less quiche. c. spend all of his money on wine. d. spend all of his money on quiche.
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Dwayne invests $4,700 in a savings account at the beginning of each of the next twelve years. if his opportunity cost rate is 7 percent compounded annually, how much will his investment be worth after the last annuity payment is made? use the equation method to calculate the worth of the investment. (round your answer to two decimal places.)​

Answers

Answer: Dwayne's investment will be worth $89,961.02 after the last annuity payment is made.

Since Dwayne contributes $4700 at the beginning of each year, we need to calculate the future value of an annuity due.

We use this formula for our calculations:

\mathbf{FV _(Annuity due) = PMT * \left [ ((1+r)^(n)-1)/(r) \right ]*(1+r)}

Substituting the values we get,

\mathbf{FV _(Annuity due) = 4700 * \left [ ((1+0.7)^(12)-1)/(0.07) \right ]*(1+0.07)}

\mathbf{FV _(Annuity due) = 4700 * \left [ \frac{2.252191589}-1}{0.07} \right ]*(1.07)}

\mathbf{FV _(Annuity due) = 4700 * \left [ \frac{1.252191589}}{0.07} \right ]*(1.07)}

\mathbf{FV _(Annuity due) = 4700 * 17.88845127 *(1.07)}

\mathbf{FV _(Annuity due) = 89961.02144}

Jensen Enterprises paid $900 in dividends and $920 in interest this past year. Common stock increased by $1,200 and retained earnings decreased by $306. What is the net income for the year?

Answers

Answer:

Net income for the year: 1,206

Explanation:

from the RE formula we have:

Beginning \: RE +/- Net \: Income(loss) - Dividends = Ending \: RE

If RE decreased by 306 then:

beginning - ending = -306

we can shape the initial formula doing:

Beginning \: RE - Ending \: RE +/- Net \: Income(loss) - Dividends = 0

We post the value of the change in RE and the dividends

(306) +/- Net \: Income(loss) - 900 = 0

Net Income = 900+306 = 1,206

Ted has always had difficulty saving money, so on June 1, Ted enrolls in a Christmas savings program at his local bank and deposits $750. That money is totally locked away until December 1 so that Ted can be certain that he will still have it once the holiday shopping season begins. Suppose that the annual rate of interest is 10 percent on ordinary savings accounts (that allow depositors to withdraw their money at any time). How much interest is Ted giving up by precommitting his money into the Christmas savings account for six months instead of depositing it into an ordinary savings account?[Hint: If you invest X dollars at an annual interest rate of Y percent, you will receive interest equal to X × Y, where the interest rate Y is expressed as a decimal.]
$.___________.

Answers

Answer:

Ted is giving up an interest of 37.5 by pre-committing his money to a Christmas savings account

Explanation:

Step 1: Determine interest amount

The formula for calculating interest is as follows;

I=PRT

where;

I=interest

P=principal

R=annual interest rate

T=number of years

In our case;

P=750

R=10%=10/100=0.1

T=From June 1 to December 1=6 months=0.5 years

replacing;

I=(750×0.1×0.5)=$37.5

Step 2: Determine total amount Ted will have for the two scenarios

case 1

Christmas savings program=750

Ordinary savings account=(750+37.5)=787.5

Ted is giving up an interest of 37.5 by pre-committing his money to a Christmas savings account

Which of these statements about corporate bonds is correct?

Answers

Answer:

Option A is the right answer.

Explanation:

Bonds seems to be debt security during which the lender is obliged to pay compensation at regular time intervals as well as pay the money back the balance of the shareholder at intellectual ability.

  • Option B: The raising of new bonds diminishes underlying ownership within the company. Incorrect issuance of new equities diminishes the company's current ownership.
  • Option C: Debenture bonds attached leverage on the assets guaranteed. Incorrect debentures represent short term loans.
  • Option D: Bonds focuses on providing funding for equities. Incorrect since debt funding is provided by Bonds.

So that alternative A would be the appropriate choice.

Bonds are like IOUS with a promise to repay the amount borrowed, with interest, on a certain date. Thus, option A is correct.

Bonds appear to be a type of financial instrument where the lender is required to provide periodical payments of compensation as well as to reimburse the shareholder for their remaining amount at the investor's intellectual discretion.

An Iou-like financial obligation is a bond. By purchasing corporate bonds, investors are making a loan to the corporation issuing the connection.  Bonds usually provide investors with a fixed rate of interest that is paid over a specified period of time at periodic times. In general, bonds are a less risky investment. Therefore, option A is correct.

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A productivity index of 110% means that a company’s labor costs would have been 10% higher if it had not made production improvements. Now refer to the Income Statement in Chester's Annual Report. The direct labor costs for Chester were $32,680. These labor costs could have been $20,000 higher if investments in training that increased productivity had not been made. What was the productivity index for Chester that led to such savings?

Answers

Answer: 161.1%

Explanation:

Given that,

Direct labor costs for Chester = $32,680

Labor costs could have been $20,000 higher

Productivity index shows the ratio between the labor costs with improvements and labor costs without improvement in production.

Productivity Index = (Labor\ cost\ without\ improvement)/(Labor\ cost\ with\ improvement)*100

                              = (32,680+20,000)/(32,680)*100

                              = 161.1%

Final answer:

The productivity index for Chester, which measures the savings in labor costs due to productivity improvements, is approximately 62.06%. This suggests that, without the investments in training, Chester's labor costs would have been about 38% higher.

Explanation:

In order to calculate the productivity index for Chester, we need to understand that the productivity index essentially measures the savings in labor costs resulting from production improvements, expressed as a percentage. In this particular case, Chester was able to save $20,000 in labor costs due to investments in productivity-enhancing training.

The original direct labor costs for Chester was $32,680. Had Chester not made any productivity improvements, the labor costs would have been $32,680 plus an additional $20,000, for a total of $52,680. Therefore, the productivity index is calculated by dividing the original labor cost by what the labor cost would have been without the productivity improvements, and multiplying by 100, as follows: ($32,680 / $52,680) * 100. This equation gives a productivity index of approximately 62.06%. This means that Chester's labor costs would have been approximately 38% higher without the productivity improvements.

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Manu has forecast sales to be $32,000 in February, $41,400 in March, $53,200 in April, and $58,600 in May. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 30% in the month of sale, and 70% the month.What are budgeted cash receipts in May?

Answers

Answer:

$185,947  

Explanation:
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