Answer:
Explanation:
Using future annuity formula
Fv = Pmt ( (1+r)ⁿ -1 )/ r
+ 1 = (1+r)ⁿ
In ( + 1) = n In ( 1+r)
n = In ( + 1) / In ( 1 + r)
FV, future value = $10,000, Pmt, periodic payment per year = $1,100, r rate = 11.82% = 0.1182 and n = number of years
n = 0.7297 / 0.11172 = 6.53 years approx 7 years
the last year payment will actually be less than $1,100
Answer:
The correct answer is the option B: a certified check.
Explanation:
To begin with, the term of <em>''certified check''</em> refers to a type of check that was certified by the emisory bank stating that the account has enough money to make the payment, therefore that the bank's account of the user is currently with sufficient money in order to do the purchase for which the check was meant to.
Secondly, once established the concept of a certified check, it is understood that in the situation where Elmo pays a certain amount to his bank in order to draw a check to pay for something, then the bank has enough money in Elmo's account and therefore <u>the check will be certified</u> by the bank.
Answer:The variable cost per book is $16
Explanation:
Sale price per book = $18
Books need to sell = 2,000
Total Revenue. = $36,000
($18*2,000)
At Break Even Total Revenue = Cost + investment so total variable cost is ($36,000 - $4,000) = $32,000 and cost per book is $32,000÷2,000 = $16 per book
Answer:
73.22
Explanation:
You first multiple 12 by 3.50 and 1.74
From there, you get:
9 + 1.34 + 12 + 42 + 20.88
After that, you just simply add all the variables together.
Hope this helped!
