BUSINESS COLLEGE

Your parents are giving you $205 a month for 4 years while you are in college. At an interest rate of .48 percent per month, what are these payments worth to you when you first start college

Answers

Answer 1
Answer:

Answer:

$8,770.00

Explanation:

In this question we use the present value formula i.e shown in the attachment below:

Data provided in the question

Future value = $0

Rate of interest = 0.48%

NPER = 4 years × 12 months = 48 months

PMT = $205

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $8,770.00

Related Questions

Sandhill Company reports the following operating results for the month of August: sales $382,500 (units 5,100), variable costs $245,000, and fixed costs $98,000. Management is considering the following independent courses of action to increase net income.1. Increase selling price by 16% with no change in total variable costs or units sold.2. Reduce variable costs to 59% of sales.Compute the net income to be earned under each alternative.1. Net Income $enter a dollar amount2. Net Income $enter a dollar amountWhich course of action will produce the higher net income? select an option
During January, Luxury Cruise Lines incurs employee salaries of $2.9 million. Withholdings in January are $221,850 for the employee portion of FICA, $435,000 for federal income tax, $181,250 for state income tax, and $29,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $179,800 for federal and state unemployment tax and $87,000 for the employer portion of health insurance.Required:A) Record the employee salary expense, withholdings, and salaries payable.B) Record the employer-provided fringe benefits.C) Record the employer payroll taxes.
A firm has the following accounts and financial data for​ 2017: Sales Revenue ​$3,060 Accounts Receivable ​$500 Interest Expense ​$146 Total Operating Expenses ​$600 Cost of Goods Sold ​$1,800 Preferred Stock Dividends ​$28 Accounts Payable ​$240 Inventory ​$200 Number of Common Shares Outstanding ​1,000 Tax Rate ​40% The​ firm's earnings per share for 2017 is​ ________.
Boilermaker House Painting Company1. Sep 3 Paint houses in the current month for $20,000 on account.2. Sep 8 Purchase painting equipment for $21,000 cash.3. Sep 12 Purchase office supplies on account for $3,500.4. Sep 15 Pay employee salaries of $4,200 for the current month.5. Sept 19 Purchase advertising to appear in the current month for $1,000 cash.6. Sep 22 Pay office rent of $5,400 for the current month.7. Sep 26 Receive $15,000 from customers in (1) above.8. Sep 30 Receive cash of $6,000 in advance from a customer who plans to have his house painted in the following month.a) Record each transaction. The company uses the following accounts: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Deferred Revenue, Common Stock, Retained Earnings, Service Revenue, Salaries Expense, Advertising Expense, Rent Expense.
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What is a service? Can services be differentiated as consumer services and industrial services? (AACSB: Communication; Reflective Thinking)​

Answers

Answer:

service is doing work to someone,:

----is supplying public a public needs example: tramsport

-----is emplyment as a servant

-------perios of employment with company or organization

According to Duffy-Deno (2003), when the price of broadband access capacity (the amount of information one can send over an Internet connection) increases 10%, commercial customers buy about 3.8% less capacity. What is the elasticity of demand for broadband access capacity for firms? Is demand at the current price inelastic?

Answers

Answer:

-Price elasticity of demand (PED )= 0.38

-The PED is less than one, therefore the demand is price inelastic.

Explanation:

Price elasticity of demand (PED) is the degree of responsiveness of quantity demanded to a unit change in the price of the product all other things being equal. This index measures the corresponding magnitude  by which quantity demand will increase, for example, if the price reduces by a given %.

Price elasticity of demand Index is interpreted as follows:

if PED greater than 1, product is elastic

if PED less that 1, product is inelastic

PED is very useful in pricing policy. For example, a product that is price elastic will accrue more revenue if the seller reduces its price and vice versa

The price elasticity of demand for a product can be computed as follows:

PED = % change in qty DD/ % change in price

So we can compute the PED for Duffy-Deno as follows:

   PED    =  3.8%/10%    

The PED is less than one, therefore the demand is price inelastic.

Final answer:

The elasticity of demand for broadband access capacity for firms is -0.38. Because the absolute value is less than 1, the demand is considered inelastic.

Explanation:

Elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. Here, the price of broadband access increased by 10% and the quantity demanded decreased by 3.8%. This gives an elasticity of -3.8% / 10% = -0.38. Demand is considered inelastic if the absolute value is less than 1. Hence, the demand for broadband access capacity for firms is inelastic.

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Beverly Company has determined a standard variable overhead rate of $3.10 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,250 actual direct labor hours in the production of 2,600 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over- or underapplied variable overhead.

Answers

Answer:

Variable overhead rate variance = $ 875 favorable

Variable overhead efficiency variance = $ 4,185 favorable

Variable overhead cost variance = $5,060 Favorable

Explanation:

Standard hours = 1 hr x 2600 units = 2600 hours

Standard rate = $3.10

Actual hours = 1,250 hours

Actual rate = $2.40

Variable overhead rate variance =  ( Standard Rate - Actual Rate ) x Actual Hrs

=  ( $ 3.10 - $2.40 ) x 1250 Hrs

= $0.7 x 1250

=$ 875 favorable

Variable overhead efficiency variance = (Standard hours - Actual hours) x Standard Rate

= (2600 - 1250 ) x $ 3.10

= $ 4,185 favorable

Variable overhead spending variance = Variable overhead rate variance +  Variable overhead efficiency variance

= $875 + $4,185

= $ 5,060 favorable

Variable overhead cost variance = Standard cost - Actual Cost

= (2600 X 3.10) - (1250 X 2.40) = 8,060 - 3000

= $5,060 Favorable

You are the newly appointed sales manager of the Rock Record Company and have been charged with the task of increasing revenues. Your economics consultants have informed you that at present price and output levels, price elasticity of demand for your product is less than one. You should:

Answers

Answer:

Increase price.

Explanation:

Price elasticity is the degree of responsiveness of quantity demanded to changes in price. Ideally as price increases quantity demanded reduces. When prices reduce quantity demanded increases.

As a new manager of Rock Record company, if the economics consultants inform you the price elasticity is less than one it means quantity does not change with increase in price.

So price can be increased without a corresponding decrease in price. The goal of higher revenue can be achieved by increasing the product price.

Answer:

The correct answer is: increase prices.

Explanation:

Price elasticity refers to the changes in quantity demand after the change in price for a good or service. Elasticity is calculated by dividing the percentage in quantity demanded by the percentage change in price. If the result is equal or greater than one (1) the demand is elastic. If the result is lower than 1 the demand is inelastic.

Thus, in the case given, Rock Record Company has an inelastic price demand since it is lower than 1. It implies changes in price are unlikely to change the quantity demanded. As the company needs to increase the revenue, the easiest method to achieve that is to raise the product prices.

A company plans to enclose three parallel rectangular areas for sorting returned goods. The three areas are within one large rectangular area and yd of fencing is available. What is the largest total area that can be​ enclosed

Answers

Answer:

A lot of information is missing, so I looked for similar questions:

  • 1,064 yd of fencing is available

since 1,064 is the perimeter and we have a rectangle, we can write the perimeter equation as: 2L + 2W = 1,064

area = L · W

2W = 1,064 - 2L

W = 532 - L

now we replace in the area equation:

area = (532 - L) · L = -W² + 532W (quadratic equation format)

the value of L as our X coordinate:

L = 532 / 2 = 266

W = 532 - 266 = 266

area = -(266)² + (532 x 266) = -70,756 + 141,512 = 70,756 sq yards

or

area = 266 · 266 = 70,756 sq yards

When you have a rectangle, the largest possible area is a square, where both sides have the same length.

Pearl, Inc., has offered $422 million cash for all of the common stock in Jam Corporation. Based on recent market information, Jam is worth $391 million as an independent operation. If the merger makes economic sense for Pearl, what is the minimum estimated value of the synergistic benefits from the merger? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)

Answers

Answer:Minimum Synergy gain = Purchase Price – Market Value Purchase Price $357,000,000 – Market Value $319,000,000 = $38,000,000

Minimum estimated value of synergy would be $38,000,000. With the merger, there would be a net gain from the synergy.

Explanation:

Mate i hope this helps sorry if im wrong

Final answer:

The minimum estimated value of the synergistic benefits from the merger between Pearl, Inc. and Jam Corporation is $31 million. This value is calculated by subtracting the current worth of Jam Corporation ($391 million) from the offer made by Pearl, Inc. ($422 million).

Explanation:

To calculate the minimum estimated value of the synergistic benefits from the merger, you would subtract the current value of Jam Corporation from the offer by Pearl, Inc. This is because the expected synergies are the value-add provided by the merger. In other words, if Pearl, Inc., is prepared to pay $422 million for a company worth $391 million, the difference between those two figures, or $31 million, must be the value of the projected synergistic benefits that Pearl, Inc., hopes to realize as a result of the acquisition.

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