Nancy would like to accumulate $10,000 by the end of 3 years from now to buy a sports car from her friend, Jim. She has $2,500 now and would like to save equal annual end-of-year deposits to pay for the car
How much should she deposit at the end of each year in an account paying 8 percent interest to buy the car?
Using financial calculator: PV= -2500, N=3, I=8, FV=10000, CPT PMT = 2110.25
You might also like to view...
Profit rate tends to decrease over the life of the retained customer due to increased purchases, referrals, price premiums, and increased operating costs to service
Indicate whether the statement is true or false
Which sociologist originate the term “emotional labor?”
A. Rina Miller B. Ronnie Kurchner-Hawkins C. Arlene Hochschild D. Betty Velthouse
Which of the following statements about operational decisions is FALSE?
A. They usually require ongoing changes in the basic strategy to be effective. B. They are short-run decisions. C. They are part of the implementation process. D. They help to carry out a marketing strategy.
Aaron, Inc estimates direct labor costs and manufacturing overhead costs for the coming year to be $750,000 and $550,000, respectively
Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 18,000 hours and 7,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A) $107.14 per machine hour B) $30.56 per labor hour C) $1.36 per labor hour D) $78.57 per machine hour