Answer:
Monthly deposit= $485.93
Explanation:
Giving the following information:
You want to retire exactly 35 years from today with $2,020,000 in your retirement account.
interest rate= 10.35 percent compounded monthly
First, we need to calculate the monthly interest rate.
Monthly interest rate= 0.1035/12= 0.008625
Now, using the following formula we can calculate the monthly deposit:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
n= 35*12= 420
A= (2,020,000*0.008625) / [(1.008625^420)-1]
A= $485.93
An object of interest to the end user is <u>entity</u>.
<u>Explanation:</u>
An entity is a real world object or thing that has an independent existence. Entity is distinguishable from the other objects. The attributes of an entity are the properties of the entity which make the entity distinguishable from the other objects.
The examples of entity are a car, a book or any other product. A set of an entity is known as the entity set. Entity may be an object with physical existence or it may be with a conceptual existence.
Option D
Revolving credit agreement short-term financing sources Kenneth utilizes to fund his business in the given scenario
<h3><u>
Explanation:</u></h3>
Revolving credit means is a line of credit that is established among a bank and a business. It has an organized peak amount, where the firm has a way to the funds at any time when demanded. It is required for companies that may seldom hold low cash surpluses to continue their networking capital demands.
Because of this, it is frequently regarded as a kind of short-term funding that is normally paid off suddenly. To begin the loan, a bank may impose a commitment fee. This remunerates the bank for holding an open way to a potential loan, where interest fees are only initiated when the revolver is carried.
Answer:
$20,000 Favorable
Explanation:
As for the provided information, we have:
Sales Volume Variance is defined as the variance arising due to difference in sales quantity based on standard price.
Formula for the above = (Actual Sales - Budgeted Sales) 
Standard Price
= (5,500 - 5,000) $40
= $20,000
This variance shall be categorized as favorable, as the actual sales quantity is more than the static budgeted quantity.
Therefore, Sales Volume Variance = $20,000 Favorable
