Jacob Sawyer will deposit $3,000 into a special account each year beginning December 31, 2016, with the last deposit being made on December 31, 2019. Jacob wants to know how much will be in his account on December 31, 2019, immediately after the final deposit, if the account earns 10% compounded annually. To solve the problem, Jacob must find the future value of
A) a single sum.
B) a deferred annuity.
C) an ordinary annuity.
D) an annuity due.
C
You might also like to view...
A firm in a homogeneous market that has the ability to augment its product is more likely to need to meet a competitive price reduction than one that does not have the ability to augment its product
Indicate whether the statement is true or false
Today, most public relations program evaluations are done at which level?
A. Preparation D. Opinion change B. Implementation E. Attitude changes C. Impact
Which of the following is a problem associated with arbitration?
A) The arbitrators are chosen based on the demographics of the disputants. B) Allegations of race, sex, and age discrimination cannot be annexed to arbitration. C) Arbitration allows industries to hide its disputes from the public. D) Disputes involving intellectual property rights cannot be resolved through arbitration.
Portofino Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products:Activity Cost PoolsActivity RateSetting up batches$79.50per batchProcessing customer orders$71.31per customer orderAssembling products$7.06per assembly hourData concerning two products appear below: Product KJ22 Product KL37Number of batches69 12Number of customer orders20 9Number of assembly orders492 697How much overhead cost would be assigned to Product KJ22 using the activity-based costing system?
A. $10,385.22 B. $91,722.47 C. $157.87 D. $5,485.50 E. $16,640.87