bob and jane loveboat are saving to buy a boat at the end of 5 years. if the boat costs $25,000, and they can earn 8 percent a year on their savings, how much do they need to put aside at the end of every year 1 through 5? round off your final answer to three digits after the decimal point. state your answer as 'x.xxx'
Answers
Bob and Jane Loveboat should save approximately $4,259.25 at the end of each year for 5 years to accumulate $25,000 to buy the boat. To calculate the amount Bob and Jane Loveboat need to put aside at the end of each year, we can use the future value of an ordinary annuity formula:
Future Value = Payment × [(1 + Interest Rate)^Number of Periods - 1] / Interest Rate
Given:
Boat cost: $25,000
Interest rate: 8%
Number of years: 5
We need to find the annual payment (amount to be put aside) at the end of each year. Let's calculate:
Future Value = $25,000
Interest Rate = 8% = 0.08
Number of Periods = 5
$25,000 = Payment × [(1 + 0.08)^5 - 1] / 0.08
Simplifying the equation:
$25,000 = Payment × (1.08^5 - 1) / 0.08
$25,000 = Payment × (1.469328 - 1) / 0.08
$25,000 = Payment × 0.469328 / 0.08
$25,000 = Payment × 5.8666
Dividing both sides by 5.8666:
Payment = $25,000 / 5.8666
Payment ≈ $4,259.25
Therefore, Bob and Jane Loveboat need to put aside approximately $4,259.25 at the end of each year.
Bob and Jane Loveboat should save approximately $4,259.25 at the end of each year for 5 years to accumulate $25,000 to buy the boat.
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Related Questions
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Will give brainliest to anyone who can explain how to solve this
Answers
Find the amount of markup by subtracting the store cost from sale price:
25-5 = 20
Divide markup amount by cost:
20/5 = 4
Multiply by 100 to get percentage
4 x 100 = 400 %
The answer is B. 400%
Answer:
Explanation:
After-Before/Before = 25-5=20 / 5=4 = 400%B
an employer cannot discharge a worker who, in good faith, refuses to work in a high-risk area if bodily harm or death might result.a. trueb.false
Answers
It is true that an employer cannot terminate an employee who really refuses to work in a dangerous setting when there is a risk of harm or death.
Definition employer:
An employer is a person who employs others or provides a workplace. An employer could be a company, group, government agency, organization, large firm, consultancy, nonprofit group, new business, retailer, or individual.
Which are some instances of employers?
An employer is, more particularly, a company, institution, government body, agency, management consulting firm, nonprofit organization, small business, retailer, or individual who hires or otherwise places people who may be referred to as employment or staff members to work.
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They have fixed costs of £200 per month Each item's raw materials cost £50 The items sell for £150 each
What is the Break Even Point for the business?
Answers
Answer:
2 unit
Explanation:
The break-even point is that point at which a business makes no profit after settling all the necessary fixed cost for the period. It is the point preceding profit making at which costs are recovered
It is calculated by dividing the fixed costs with the sales revenue less the variable cost per unit of an item.
Workings
Fixed cost = 200
Selling price = 150
Variable cost = 50
Break even point = 200/(150-50)
=2 units
Any sales below this ends up in a loss as the fixed cost will not be fully recovered.
Explain the importance of team dynamics (plz help)
Answers
Team dynamics in the workplace are important because they impact creativity, productivity and effectiveness. Since group work is integral to organisations, improving group dynamics can lead to better work outcomes, customer satisfaction and an improved bottom line.
Sold the personal car and invested the amt in business 28,000
Answers
In this transaction, I sold my personal car and invested the amount of $28,000 into my business.
Debit: Cash Account - $28,000
Credit: Personal Car Account - $28,000
A journal entry is the date-based recording of a business transaction in a journal book, which is then used to create the company's financial statements. To create a ledger report, data will be retrieved from the journal.
I no longer own the personal vehicle that was once listed as an asset in the Personal Car Account since it was sold. A credit entry has to be made to the Personal automobile Account in order to erase the value of the personal automobile from the books.
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The complete question is probably
Sold personal car for rs 80000 and invested amount in business..journal entry..( answer)
define permanent office in one sentence
Answers
Answer:
A permanent office is also known as the long term office. It is established for the production and distribution of goods and services over a long period of time.
Explanation:
Mark me brainlistQuestion 6 of 10
The optional feature in a business letter is the:
A. date.
B. inside address.
C. closing.
D. reference.
Answers
Answer:
D would be the correct answer
Explanation:
Answer: reference
Explanation: ape x
Terrance lives in an area that is expensive, but he does not want to move. When looking at a career, what should Terrance consider? He should choose a career cluster that will allow him to support himself. He should pick a career that speaks to his heart and worry about the finances later. He should ask his family to help support him. He should not worry because he can dictate how much money he will earn.
Answers
Answer:
He should choose a career cluster that will allow him to support himself.
Explanation:
The fallacy of composition involves assuming that: a. you can determine the composition of a complex product just by examining its exterior properties. b. what was true when a person was young will still be true today. c. any mistakes made in producing a product using an assembly line technique will lead to a compounding of errors as the product moves down the line. d. what is true for any individual component in a group is true for the group as a whole. e. consumer durable goods today do not last as long as they did a generation ago.
Answers
Answer:
d. what is true for any individual component in a group is true for the group as a whole.
Explanation:
Fallacy can be defined as a mistaken or false belief that are based on illogical arguments or reasoning.
However, a lot of people might actually think it to be true but it isn't. There are various types of fallacy and these include; black or white, non sequitur, ad hominem, bandwagon, appeal to authority, straw man, fallacy of composition, and oversimplification or hasty generalization.
Fallacy of composition can be defined as the error of assuming that what is true of an audience is true for the group of people as a whole.
Hence, the fallacy of composition involves assuming that what is true for any individual component in a group is true for the group as a whole.
Why is the Adams onís treaty important to the United States?
Answers
Signed in 1819 by John Quincy Adams and Luis de Onís, the Adams-Onís Treaty between the United States and Spain gave Florida to the U.S. and established the Sabine River as the border between the U.S. and New Spain. The formation of Texas was part of a global story.
Define Treaty?A formal, written treaty is a binding agreement between parties to international law. It is often created by and between sovereign governments, however it may also involve people, businesses, and other legal entities from other countries.Written agreements between sovereign nations (or between states and international organisations) that are controlled by international law are known as treaties and other international accords. Each year, the US signs more than 200 international treaties and other accords.Treaties are legally binding agreements that are incorporated into international law. As part of what the Constitution refers to as "the highest Law of the Land," treaties to which the United States is a party also have the effect of federal law.To learn more about treaty refer to:
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What will happen if you do not pay off your credit card balance each month?
Answers
If you do not pay your credit card invoice in any respect, you may likely get charged a late fee, lose your grace period, and need to pay interest at a penalty fee. Your credit rating may even pass down if you fall a minimum of 30 days behind on a credit score card bill fee.
Wearing a balance does not assist your credit score score, so it is always excellent to pay your balance in complete each month.
The effect of now not paying in full every month depends on how huge of stability you're wearing as compared to your credit restrictions.
Leaving stability will not assist your credit card ratings—it will just price you cash inside the shape of the interest. Wearing excessive stability for your credit cards has a bad impact on rankings as it will increase your credit utilization ratio.
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What is typically considered part of SG&A? Select the two correct answers. (1 point)
Answers
Operating charges also known as selling, general and executive charges( SG&A) — are the costs of doing business. They include rent and serviceability, marketing and advertising, deals and account, operation, and executive hires.
What's business? Business is the exertion of making one's living or making plutocrat by producing or buying and dealing products( similar as goods and services).It's also" any exertion or enterprise entered into for profit."Having a business name doesn't separate the business reality from the proprietor, which means that the proprietor of the business is responsible and liable for debts incurred by the business. What's the golden rule in business? The Golden Rule demands that every client and situation be treated with kindness and thoughtlessness. Similar consideration of others can lead to companies performing better than anticipated.Learn more about business here:
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Answer:
1. the Finance Bar
2. because knowing whether you can afford your lifestyle or not is the first goal of financial literacy
3. cryptocurrency
4. your needs
5. your family priorities
6. movie tickets
7. -paying off a credit card
-saving for college
8. a payment to repair a car bumper after a collision
9. 26
10. Borrowing more than you can pay back, or borrowing more than is necessary.
11. A person's FICO score is 800 or more.
12. Increase the APR to 24% or higher and charge a late fee.
13. wire transfer
14. A and C
15. Deposits made after the closing date of the statement should be added to the closing balance of the statement.
16. "profit and loss (P&L) statement"
17. -billing costs
-commissions
18. No, early withdrawal of 401(k) money will incur a penalty.
19. Take-home pay exceeds spending.
Explanation: Took the test
I NEED THIS RIGHT NOW
Which of the following is NOT true about message sensitivity options?
Recipients of messages do not have to respect your requests for privacy.
Messages can be marked private.
Not all email services provide options for email sensitivity.
Messages marked as private or confidential cannot be shared with others.
(It's not c)
Answers
Answer:
a.recipients of messages do not have to respect your requests for privacy
on july 1, the knit shop paid $9,000 to townsend realty for 6 months’ rent beginning july 1. prepaid rent was debited for the full amount. if financial statements are prepared on july 31, the adjusting entry is:
Answers
Answer:
debit Rent Expense, $1,500; credit Prepaid Rent, $1,500.
Explanation:
A company specializes in manufacturing internal combustion engines. Recently, this company has decided to create a division for the flexible fuel field. During this time, Beto, the HR manager, has been reviewing and updating job descriptions. With the knowledge that a new division of jobs will be created, what would be the appropriate course of action for Beto to take next
Answers
Answer:
Beto should consider preparing new job descriptions since new jobs will be created in the organization
Explanation:
In the given scenario the company that specialises on manufacturing internal combustion engines has now decided to go into a new production line - flexible fuel field.
Because the roles are now different from previous jobs in the company Beto will have to prepare new job descriptions to fit the new jobs roles.
It is the responsibility of human resources staff to continuously review job roles and make appropriate changes to job descriptions
Do you think selling to different market segments is the best way for a small business to respond to increased competition ? Justify your answer
Answers
Answer:
Since resources are limited and the products and services of a small firm are usually specialized, use of segmentation variables is more important for small firms than for large businessesExplain the difference between a multi-segment strategy and a single-segment strategy.
Dawn's bridal boutique is having a sale on evening dresses. The increase in consumer surplus comes from the benefit of the lower prices to Question 43 options: only existing customers who now get lower prices on the gowns they were already planning to purchase. only new customers who enter the market because of the lower prices. both existing customers who now get lower prices on the gowns they were already planning to purchase and new customers who enter the market because of the lower prices. Consumer surplus does not increase; it decreases.
Answers
Answer:
both existing customers who now get lower prices on the gowns they were already planning to purchase and new customers who enter the market because of the lower prices.
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Let assume that the price before the sale and after the sale is $1000 and $800. The willingness to pay of customer A is $1500 and for customer b is $900
consumer surplus of customer A before sale = 1500 - 1000 = 500
consumer surplus of customer A after sale = 1500 - 800 = 700
consumer surplus of customer B before sale = 0
consumer surplus of customer B after sale = 900 - 800 = 100
consumer surplus of both customers increase
How is Apple employing the concept of marketing in the creation of the iPhone?
Answers
Answer:
I think it would be that they want the world to change and evolve along with technology, it was me on the other question btw heyy
Explanation:
The main reason most international transactions require full payment before the buyer receives the merchandise is:.
Answers
An underlying lack of trust. An excess of factor endowments is the main reason most international transactions require full payment before the buyer receives the merchandise.
What is the main reason of international full payments' requirement?People act in various ways for various reasons. The basic reason that most overseas transactions demand full payment before the buyer receives the goods is that there is a fundamental lack of confidence.
When there is a lack of trust in commercial interactions, it opens the door to a lot of negative thoughts, actions, and feelings. Lack of trust has led to discouragement, depression, and the possibility of self-harm.
There are options missing in the question of which are given below-
a. strict government regulations.
b. an underlying lack of trust. an excess of factor endowments.
c. to trigger lower tariffs.
d. the inability to charge interest on the cost of goods.
Thus, option B is correct.
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Pretend you are an employer. you will discuss a promotion and a raise with an employee. What will you say to them?
Answers
Answer:
Good luck with the promotion, here are some ideas for the company!
What days are BIM classes held?
Answers
Classes take place on Mondays and Wednesdays from 4:00-6:00 pm EST, at The Plan Room located at 1815 W Broadway.
Have a Nice Day.
What is the difference between a job and a profession?
O A job is the work you do and a profession includes the environment you work is
O A job is the work you do and a profession includes your career field
O A job is your career field and a profession includes your work environment
O A job is the environment you work in and a profession includes the work you do
Answers
Answer:
O A job is the work you do and a profession includes your career field
Explanation:
What is something that will not help you get a higher credit limit?
A: Paying off the balance of the credit card each month
B: Asking the banking company for a higher limit on your credit card
C: Maxing out the credit card and only making the minimum payment each month
D: Making more money at your job (More personal income)
Answers
Maxing out the credit card and only making the minimum payment each month is something that will not help you get a higher credit limit. A credit limit is the most money you are permitted to spend on a credit card or line of credit by a lender.
If a credit card company grants you a credit limit of $2,500, that is the most you may ever have charged to the card payment . If you charge $1,900 to your card, you will have $600 left over that you can use without paying a fee or being restricted from using the card limit further.
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OJT is best for large groups.
True
False
Answers
I think this is right
A(n) _________ refers to the result obtained when a decision alternative is chosen and a chance event occurs.
A)payoff table
B)outcome
C)state of nature
D)node
Answers
An outcome refers to the result obtained when a decision alternative is chosen and a chance event occurs.
Payoff table refers to a table that shows the potential outcomes of different decision alternatives based on various scenarios or states of nature. State of nature refers to a possible future event or circumstance that is beyond the control of the decision maker, and node refers to a point in a decision tree where a decision must be made.
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Name the choreographic element that encourages dancers to rely on musical cues, visual connections, and emotional phrasing.
Answers
The choreographic element that encourages dancers to rely on musical cues, visual connections, and emotional phrasing includes the time, energy, and space
What is the meaning of Choreography?In art, a choreography means the way in which an idea is expressed physically through dance. When developing this concept, the users usually relies on important principles of organization to ensure that the idea takes a clear, appropriate, and aesthetically pleasing form.
These are principles that comprises the basic ingredients for the dancers' movements and patterns and help the choreographer utilize space, express intention and the music, and organize the dancers.
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The current equilibrium price of a specific type of automobiles is $23,000. An increase of a price ceiling on automobiles from $20,000 to $25,000 will do what to the amount sold in the market and to the price of automobiles?.
Answers
Answer:
$25,000
Explanation:
i will sell more automobiles to make more money
Consider an economy of three-period-lived people in overlapping generations. Each individual is endowed with y goods when young and old and nothing when middle-aged. The population of each generation born in period t is Nt, where Nt = nNt-1. There are no assets other than loans. Explain how private debt can be used to provide for consumption when middle-aged. Point out who lends to whom and write the condition for the equality of supply and demand for loans in period t. Write the budget constraints for the young, the middle-aged, and the old. Be sure to denote any notation you introduce.
Answers
In an economy with overlapping generations, private debt can be used to provide for consumption when individuals are middle-aged. Young individuals borrow from old individuals in order to finance their consumption during their middle-aged years. The condition for the equality of supply and demand for loans in each period ensures that the amount of borrowing matches the amount of lending. Budget constraints are defined for the young, middle-aged, and old individuals, taking into account their endowments and borrowing/lending activities.
In an overlapping generations economy, individuals are born in different periods and have different life spans. To provide for consumption when middle-aged, individuals can use private debt. Young individuals borrow from old individuals during their youth and repay the debt when they become old themselves.
In each period t, the supply of loans is determined by the old individuals who have saved and are willing to lend. The demand for loans comes from the young individuals who require funds for their consumption. The condition for the equality of supply and demand for loans in period t is given by the equation:
Lt = Lt-1 - Dt,
where Lt represents the supply of loans in period t, Lt-1 represents the supply of loans in the previous period, and Dt represents the demand for loans in period t.
The budget constraint for the young individuals in period t is:
Cyt + Lt = yt,
where Cyt represents the consumption of the young individuals, Lt represents the borrowing, and yt represents their endowment of goods.
The budget constraint for the middle-aged individuals is:
Cmt = Lt-1,
where Cmt represents the consumption of the middle-aged individuals.
The budget constraint for the old individuals is:
Cot + Rt = 2yt,
where Cot represents the consumption of the old individuals, Rt represents the repayment of loans, and 2yt represents their endowment of goods in old age.
In summary, private debt is used to provide for consumption when individuals are middle-aged in an overlapping generations economy. Young individuals borrow from old individuals, and the equality of supply and demand for loans ensures a matching between borrowing and lending. Budget constraints are defined for each age group, taking into account their endowments, borrowing/lending activities, and consumption levels.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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