suppose your parents make 18 equal payments (every payment is $5,000) every year into an investment account for your 4-years college expenses today. the first expense at the beginning of year 19th (end of year 18). assuming a 15% rate of return, what is your maximum annual college budget?

Answers

Answer 1

The maximum annual college budget is $30,536.

Let us use the concept and principles of Future value to calculate the maximum annual budget evaluated over 4 years with the rate of interest at 15% and payment of $5000 every period.

the formula is

$FV = PMT*[((1+r)^{n-1}/r)]$

where

FV = future value, PMT = payment amount per period, r = rate of interest per period, n = number of periods

as it is given to us in the question the values for

PMT(payment amount per period) = $5000

r (rate of interest per period) = 15%

n (number of periods) = 4

therefore, after placing the values we get

FV = 5000 x {(1+0.15)³/0.15}

FV = $30,536

The maximum annual college budget is $30,536.

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Related Questions

Prepare journal entries for a local government to record the following transactions, first for fund financial statements and then for government-wide financial statements. A. The government sells $900,000 in bonds at face value to finance the construction of a new warehouse. B. A $1. 1 million contract is signed for construction of the warehouse. The commitment is reported, if allowed. C. The government transfers cash of $130,000 in unrestricted funds for the eventual payment of the debt in (a). D. The government receives equipment for the fire department with a cost of $12,000. When ordered, an anticipated cost of $11,800 was recorded. E. Supplies to be used in the schools are bought for $2,000 cash. The consumption method is used. F. The state awards a grant of $90,000 to supplement police salaries. The money will be paid to reimburse the government but only after the supplement payments have been made. G. The government mails property tax assessments to its citizens. The total assessment is $600,000, although officials anticipate that 4 percent will never be collected. The government holds an enforceable legal claim to this money. It can be spent immediately

Answers

An entry in a journal is utilized to document a financial transaction in the accounting books of a company.

A. To record the Issuance of bonds for $900,000 at face value:

Dr. Cash (proceeds from bond issuance) $900,000

Cr. Bonds Payable (long-term liability) $900,000

B. To record the commitment for construction of the warehouse:

Dr. Encumbrances (for commitment of funds) $1,100,000

Cr. Reserve for Encumbrances (to avoid over budgeting) $1,100,000

C. To record the transfer of cash for the eventual payment of debt:

Dr. Debt Service Fund Cash (restricted fund) $130,000

Cr. General Fund Cash (unrestricted fund) $130,000

D. To record the receipt of equipment for the fire department:

Dr. Fire Department Equipment (capital asset) $12,000

Cr. Vouchers Payable (accounts payable) $12,000

E. To record the purchase of supplies for schools:

Dr. Supplies Expense (expenditure) $2,000

Cr. Cash (source of funds) $2,000

F. To record the receipt of a grant from the state:

Dr. Grant Receivable (restricted fund) $90,000

Cr. Revenues (for grant received) $90,000

G. To record the assessment of property tax:

Dr. Property Tax Receivable (restricted fund) $600,000

Cr. Revenues (for property tax assessed) $600,000

Cr. Allowance for Uncollectible Property Taxes (contra-revenue) $24,000 (4% of $600,000)

Journal Entries for Government-Wide Financial Statements:

A. To record the issuance of bonds for $900,000 at face value:

Dr. Cash (proceeds from bond issuance) $900,000

Cr. Bonds Payable (long-term liability) $900,000

B. To record the commitment for construction of the warehouse:

Dr. Capital Project Expenditures (construction expense) $1,100,000

Cr. Capital Projects Fund (restricted fund) $1,100,000

C. To record the transfer of cash for the eventual payment of debt:

Dr. Debt Service Fund Cash (restricted fund) $130,000

Cr. General Fund Cash (unrestricted fund) $130,000

D. To record the receipt of equipment for the fire department:

Dr. Fire Department Equipment (capital asset) $12,000

Cr. Accounts Payable $12,000

E. To record the purchase of supplies for schools:

Dr. Supplies Expense (operating expense) $2,000

Cr. Cash (source of funds) $2,000

F. To record the receipt of a grant from the state:

Dr. Grant Receivable (restricted fund) $90,000

Cr. Revenues (for grant received) $90,000

G. To record the assessment of property tax:

Dr. Property Tax Receivable (restricted fund) $576,000 (96% of $600,000)

Cr. Revenues (for property tax assessed) $576,000

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Cubcadet’s marketing group wants to advertise that its lawn tractors are faster than any others. If the vice president of marketing requests these specifications but manufacturing can’t fulfill the request, what kind of conflict could result?.

Answers

In a case where the marketing group wants to advertise that its lawn tractors are faster than any others; if vice president of marketing requests these specifications but manufacturing can not fulfill the request, then, the kind of conflict that could result is known as a intragroup conflict.

What is an intragroup conflict?

In management, a group conflict is a feature common to all forms of human social organization and also occurs in social animals. Even though a group conflict is one of the most complex phenomena studied by social scientists, the history of the human race evidences a series of group-level conflicts that have gained notoriety over the years.

Under this, an intragroup conflict is the level of conflict that occurs between the members of a single group when there are multiple people with varying opinions, backgrounds and experiences working toward a common goal. Although they may want to achieve the same goal, they may disagree about how to reach it. Therefore, an intragroup conflict can also occur when team members have differences in communication styles and personalities.

Answers

A thorough evaluation of Ms. Nurse's proposal for increased funding should consider the current state of nursing, the potential impact of increased funding, and the organization's financial situation.

Next, it is important to consider the potential impact of increased funding. Will it lead to improved patient outcomes, better staff morale, or increased productivity? It is important to weigh the potential benefits against the cost of providing more funding.

Finally, it is important to consider the organization's overall financial situation and whether it can afford to provide more funding for nursing. If additional funding is granted, it may be necessary to adjust other areas of the budget to maintain financial stability.

Overall, a thorough evaluation of Ms. Nurse's proposal for increased funding should consider the current state of nursing, the potential impact of increased funding, and the organization's financial situation.

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identify the type of analysis that you are performing when you are analyzing historical credit card data to understand what a fraudulent transaction looks like.

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The type of analysis that you are performing when you are analyzing historical credit card data to understand what a fraudulent transaction looks like is called **fraud analytics**

The type of analysis being performed when analyzing historical credit card data to understand what a fraudulent transaction looks like is Anomaly Detection Analysis.

Anomaly detection analysis involves identifying patterns or deviations from normal behavior or expected patterns within a dataset. In the context of credit card data analysis, it aims to identify fraudulent transactions by comparing them to historical data and detecting unusual or suspicious patterns.

This type of analysis plays a crucial role in fraud detection and prevention within the credit card industry, helping to protect individuals and organizations from financial losses and unauthorized transactions.

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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???

Answers

Answer : Monopolistic competition

Answer:

Monopolistic Competition

Explanation:

In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.

Give four items of information you would expect to find on a statement of account

Answers

Answer:

An overall balance. This might be positive (if the customer owes you money), negative (if you own them money), or at 0 (if all payments have been settled).

A date range. You might create an account statement that covers a specific month, year, or quarter – or you might want to show every single transaction between you and your customer. Either way, the dates should be clear.

Every transaction made within the specified date range, including sales (paid upfront or on credit), payments, and refunds. You should list the date and value of each transaction.

Document numbers to support each transaction. This might include the numbers from invoices, credit notes, or payment receipts.

Contact details for you and your customer – including company name, address, phone number, or email address.

A currency. This is particularly important if you have customers abroad. Even if you have transactions in multiple currencies, an account statement should only be in one.

I hope i helped! xoxo

alpha co. purchased and placed in service $100,000 of computer equipment on january 1, year 1, and disposed of the computer equipment on march 31, year 3. no other depreciable assets were placed in service in year 1. alpha uses macrs depreciation to recover the cost of the assets. what is the amount of alpha's macrs depreciation in year 1? a.$7,145 b.$10,000 c.$14,290 d.$20,000

Answers

To determine the amount of MACRS depreciation that Alpha Co. can claim in year 1, we need to use the MACRS depreciation schedule for 5-year property (which is the class of property that computer equipment belongs to).

The schedule for the 5-year property is as follows: Year 1: 20.00%

Year 2: 32.00%

Year 3: 19.20%

Year 4: 11.52%

Year 5: 11.52%

Year 6 and beyond: 5.76%

Since Alpha Co. purchased the computer equipment on January 1 of Year 1, it can claim 20.00% of the cost of the equipment as MACRS depreciation in Year 1. The cost of the equipment is $100,000, so the amount of MACRS depreciation in Year 1 is: $100,000 x 20.00% = $20,000 The correct answer is (d) $20,000.

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How long does the copyright on an original work last?.

Answers

Answer: 70 years

Explanation:

Required-: JOURNAL ENTRY (ACCOUNT)
Paid Rs. 28,000 to Sansee stores in fullsettlement of Rs. 30,000 by cheque please help Me with this. I'm still confused in it.

Answers

- Hey there , ronisha!

Answer:

$ \large{ \tt{SEE \: THE \: ATTACHED \: PICTURE}}$

$ \large{ \tt{E \: X \: P \: L \: A \: N \: A \: T \: I \: O \: N}} : $

Full settlement generally means DISCOUNT ALLOWED.

Firstly , Read out the question and try to understand. It says we purchased some stuffs of Rs 30000 from the sansee stores and we payed Rs 28000 in full settlement which implies that we received the discount of Rs 30000-28000 i.e Rs 2000.

You must have known the rules for debit and credit. As we know In case of personal account , Debit : The receiver , We have sansee stores as the receiver so we placed it in debit side.

Remember: When the question says that the cash is payed through cheque , you should always consider cheque as a bank. Now , In the case of personal account , Credit : The giver. Who's the giver? Of course , bank! So , we placed it in credit side.

Now , In case of nominal account , Credit : the incomes or gains . The question says we received the discount so obviously it's not expenses. So, We placed discount received in credit side. You must have studied that Every debit should have equal credit. And we're done!

- Hope this helps! Please let me know if you have any questions regarding my answer and also don't hesitate to reach out to me if you need any other help! :)

Required-: JOURNAL ENTRY (ACCOUNT)Paid Rs. 28,000 to Sansee stores in fullsettlement of Rs. 30,000 by

a transportation service provider that handles shipments on a case-by-case basis, without the need for long-term agreements or contracts Unselected a service firm that handles all of the logistics requirements for other companies Unselected a transportation service provider that handles shipments for other firms based on long-term agreements or contracts Unselected an agent who serves as an intermediary between an organization shipping a product and the actual carrier, typically on international shipments Unselected

Answers

Answer:

1. Common (public) carrier.

2. Third-party logistic provider (3PL).

3. Contract carriers.

4. Freight forwarder.

Explanation:

Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers.

Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

Some of the service providers in the supply and logistics chain management are;

1. Common (public) carrier: a transportation service provider that handles shipments on a case-by-case basis i.e based on the type of shipment, without entering into long-term agreements or contracts.

2. Third-party logistic provider (3PL): a service firm that is saddled with the responsibility of handling all of the logistics requirements for other companies.

3. Contract carriers: a transportation service provider that handles shipments for other firms based on long-term agreements or contracts. It is simply the opposite of common (public) carriers. Shipments from different local businesses may be combined by a contract carrier through the use of a consolidation warehouse.

4. Freight forwarder: an agent who serves as an intermediary between an organization shipping a product and the actual carrier, typically on international shipments. Thus, he or she is a middleman between the organization whose product is being shipped and the carrier company, especially for international freights.

what is business?????????????

Answers

A business is defined as an organisation or enterprising entity engaged in commercial, industrial,or professional activities.

A business is a owned and operated company. Examples of businesses are, Amazon, Walmart, and Coca-Cola. There’s actually more but, I won’t list all of them cause you probably get the point by now.

Why is Netflix's stocks going down?

Answers

Answer:

Netflix stock was falling sharply Wednesday after the streaming giant posted disappointing first-quarter earnings, prompting a flurry of price target cuts and critique from analysts.

Explanation:

Hope this helpes.

On january 1, 2017, finch company issued $89,000 of five-year, 8% bonds when the market interest rate was 12%. the issue price of the bonds was $73,000. finch uses the effective-interest method of amortization for bond discount. semiannual interest payments are made on june 30 and december 31 of each year. how much interest expense will be recorded when the first interest payment is made? (round your answer to the nearest dollar number.)

Answers

Answer:

$4,380

Explanation:

The calculation of the interest expense recorded in the first year is given below:

= Issued price of the bond × market interest rate ÷ semi annual period

= $73,000 × 12% ÷ 2

= $73,000 × 6%

= $4,380

Therefore, the interest expense would be recorded when the interest payment is made is $4,380

We simply used the above formula

A workshop is a meeting in which individuals do physical labor.
False
True

Answers

TRUEEEEEEEEEEEEEEEEEEEEEEE

Answer:

Its trueeeeeeeeeeeeeeeeee

what do you understand by attributes in HTML?

this question is of computer.

Answers

In general, an attribute is a characteristic. In HTML, an attribute is a characteristic of a page element, such as font size or color. Attributes are used to amplify a tag. When a Web browser interprets an HTML tag, it will also look for its attributes so that it can display the Web page's elements properly.

If an insurer requires a medical examination of an applicant in connection with the application for life insurance, who is responsible for
paying the cost of the examination?

A The examiner

B The applicant

C The insurer

D The cost of the examination will be waived.

Answers

The cost of the examination will be waived

Not having insurance in the event of an accident may mean you lose your license for up to __ years. a) 1 b) 2 c) 3 d) 4. d) 4.

Answers

Not having insurance in the event of an accident may mean you lose your license for up to 4 years. The answer is d) 4.

If you are involved in a car accident and do not have insurance, you could face serious consequences. Depending on the state, you may be required to pay for damages out of your own pocket and you may also face legal action.

In addition, if you are found to be at fault in the accident and do not have insurance, you could lose your driver's license for a certain period of time. The length of time varies by state, but in some states, it can be up to 4 years.

It is important to have adequate insurance coverage to protect yourself financially and legally in the event of an accident. Thus, d) is the right answer.

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Witch of the following is a current asset?
A- Employee
B- Land
C- Supplies
D- Mortage

Answers

I feel like C would be the answer

Help me, please.
⇒ Debt you've seen in your everyday life
⇒ Potential debt you plan to get into and why. What are the potential benefits of getting into this debt? What do you hope to get out of it?

Answers

Answer:

1) Auto loan - a lot of people take auto loans to purchase their dream car although it considered as a bad debt as a car usually is very expensive.

2) potential debt I wouldn't mind getting into would probably be something for myself aka self development. investing in yourself by borrowing for more education or to consolidate debt. it can increase your ability to save for the future, build wealth, etc.

If the maximum payment of $5,000 is made into a Individual Retirement Account (IRA) for 25 years at an annual interest rate of 3. 2%, determine the amount in the account. Round to the nearest cent. A. $187,159. 62 b. $193,148. 73 c. $129,082. 99 d. $129,427. 21.

Answers

Based on the payment made into the account every year and the interest rate, the amount in the account after 25 years should be $187.159.62

The amount is constant which makes it an annuity.

The future value of an annuity is:

= Amount x ( ( 1 + rate) ^ Number of years - 1) / Rate

Solving gives:

= 5,000 x ( ( 1 + 3.2%) ²⁵ - 1) / 3.2%

= $187.159.62

In conclusion, the amount would be $187,159.62

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Which of the following states has largely privatized its government-run hospitals?
Multiple Choice
A. Louisiana
B. California
C. Florida
D. North
E. Carolina

Answers

The correct answer is C. Florida. Florida is known for having largely privatized its government-run hospitals.

Florida is often cited as a state that has significantly privatized its government-run hospitals. This means that many hospitals that were once owned and operated by the government have been transferred to private ownership and management.

The privatization of government-run hospitals in Florida has been driven by various factors. One key factor is the belief that private ownership and management can lead to greater efficiency and cost-effectiveness in healthcare delivery. Proponents of privatization argue that private hospitals are better equipped to respond to market demands, make quicker decisions, and implement innovative practices.

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Molly borrows money by promising to make a single payment of $118,000 at the end of 6 years. How much money is Molly able to borrow if the interest rate is 10% compounded semiannually?

Answers

Molly is able to borrow approximately $63,993.84 if the interest rate is 10% compounded semiannually.

To calculate the amount of money Molly is able to borrow, we can use the formula for the future value of a single payment with compound interest:

Future Value = Principal * (1 + (Interest Rate / Number of Compounding Periods))^(Number of Compounding Periods * Time)

Plugging in the given values:

Principal = ?

Future Value = $118,000

Interest Rate = 10% (0.10)

Number of Compounding Periods per year = 2 (semiannually)

Time = 6 years

Future Value = Principal * (1 + (0.10 / 2))^(2 * 6)

$118,000 = Principal * (1 + 0.05)^(12)

$118,000 = Principal * (1.05)^12

To find the Principal, we divide both sides of the equation by (1.05)^12:

Principal = $118,000 / (1.05)^12

Using a calculator, the Principal is approximately $63,993.84.

Therefore, Molly is able to borrow approximately $63,993.84 if the interest rate is 10% compounded semiannually.

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how does mr. vandehei describe the level of bias in the media? answers

Answers

Mr. Vandehei believes that the media's bias is "real, but it's not extreme."

Who is Mr. Vandehei?

Generally, He believes that journalists, on the whole, strive to be fair and balanced, but that their own biases and experiences color their reporting.

He believes that media bias is inevitable, but that it is not so extreme as to completely undermine the credibility of the news.

Answers

Answer:

C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks.

Explanation:

In the case of the dividend growth model, it shows the underestimated of the return for some stocks, also it generated the negative return at the time when the firm could cut the dividend. ALso it needs that the firm has the history of the cash dividend and that history should show the same dividend or the positive growth

But it does not show the underestimate for all kind of the stocks

A nation can have several cultures and cultures can embrace several nations. How? support it by example

Answers

Nations can have multiple cultures through diverse ethnicities, languages, and traditions within their borders. Conversely, cultures can transcend national boundaries, such as the Arab culture present in various Middle Eastern nations.

A nation is a political entity defined by borders, while culture encompasses shared beliefs, customs, and values. Within a nation, diverse ethnic groups may coexist, each with its distinct culture. For instance, the United States is home to various cultures, including African American, Native American, and Hispanic cultures.

On the other hand, cultures can extend beyond national borders due to migration, globalization, or historical factors. One example is the Arab culture, which is prevalent across different nations in the Middle East, such as Saudi Arabia, Egypt, and Jordan. Despite these countries having their own unique national identities, they share common cultural elements rooted in Arabic language, cuisine, and traditions.

Furthermore, globalization and advancements in communication have facilitated the exchange and blending of cultures. In modern societies, individuals can embrace elements from multiple cultures, leading to the emergence of multicultural identities. For instance, a person living in Canada may have Chinese ancestry but also identify with Canadian culture, creating a unique fusion of cultural influences.

In summary, nations can encompass multiple cultures due to internal diversity , while cultures can transcend national boundaries through migration and global connections. The interplay between nations and cultures demonstrates the fluid and interconnected nature of human societies.

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Determining the payment options to be offered to a business's customers is which function?

Answers

Answer:

Pricing

Explanation:

Monica conducted an online survey for her company to see how many of its customers purchased their products at a brick-and-mortar store. She was using a ______ form of data collection.

Answers

The correct answer is: "Electronic form of data collection."

Monica was using an online survey as a means of data collection, which is a type of electronic data collection. Electronic data collection involves using various digital tools, such as online surveys, social media, email, or website analytics, to collect data from a specific target audience.

Online surveys are a popular form of electronic data collection as they are cost-effective, easy to administer, and can reach a large number of people quickly. In Monica's case, she used an online survey to collect data on her company's customers and their purchasing behavior at a brick-and-mortar store.

Electronic data collection has become increasingly popular in recent years due to the growth of digital technologies and the increasing amount of data available online. It provides a quick and efficient way to collect data, analyze it, and draw insights that can inform business decisions.

Monica was using an online survey as a means of data collection, which is a type of electronic data collection. Electronic data collection involves using various digital tools to collect data from a specific target audience and has become increasingly popular in recent years.

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What are the limitations of an MkIS?

Answers

Answer:

Limitations do exist with an MIS, such as the expense to create and implement an MIS, training time for employees, lack of flexibility and capturing wrong or incomplete information.

Explanation:

Return on equity can be calculated as ROA × Equity multiplier. What is another way to express this equation?
a)ROE = ROA × (1 + Debt − Equity Ratio)
b)ROE = ROA × Profit Margin
c)ROE = ROA × Total asset Turnover
d)ROE = ROA × (1 − Equity multiplier)
e) ROE = ROA × Operating efficiency

Answers

The answer is option a. )ROE = ROA × (1 + Debt − Equity Ratio), is another way to express this equation.

What do you mean by equity?

In contrast to equality, the term "equity" denotes fairness and justice: While equality refers to giving everyone the same thing, equity entails realizing that we do not all start from the same place and that disparities must be acknowledged and corrected.

What are some illustrations of equity?

Assets minus Liabilities equals equity. Financial matters pertaining to an individual are also referred to as equity. For instance, if a home is worth $400,000 and has a $150,000 mortgage, its owner may claim to have "$250,000 in equity" in it.

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Fill in the blank. When buying a car, a _____ down payment is recommended. A) 0% B) 10% C) 20% D) 50%.

Answers

When buying a car, a C) 20% down payment is recommended.

In general , it is always a good idea to make a down payment of 10 to 20 percent. Because the more you pay as a down payment, the less interest you need to pay the long run. This depends on the idea of balancing what you would like to pay with what you can reasonably afford.

Down payment is initial payment of the minimum portion of the total amount applied for the purchase. Other due amount is taken as loan amount of which the repayment schedule is set up for the details of the loan, that includes amount of payment, interest rate charged, and number of months one need to pay the entire amount .

Hence , C is the correct option

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