Answer:
Note See complete question as attached as picture below
a. Predetermined factory overhead rate = Estimated factory overhead cost / Direct labr hours
Predetermined factory overhead rate = $1,750,000 / 500,000 hours
Predetermined factory overhead rate = $3.50 per direct labor hours
b. Particulars Amount
Job 50 (20,000*3.50) $70,000
Job 51 (24,000*3.50) $84,000
Factory overhead applied $154,000
c. Balance in factory overhead = $154,000 - $153,000
Balance in factory overhead = $1,000
d. Over-applied factory overhead = $1,000
1. Deirdre has one hour this afternoon in which she can either practice the piano for the upcoming school concert, work at
the library for $7 per hour, or babysit her neighbor's son for $10 per hour. Deirdre chooses to practice the piano, but
if she hadn't chosen to practice the piano, she would have chosen to babysit over working at the library. What is the
opportunity cost of Deirdre's decisions
A. The value gained from practicing the piano for an hour.
B. The value of babysitting her neighbor's son for an hour.
C. The value of working at the library for an hour.
D. The value of babysitting her neighbor's son and working at the library for an hour.
Answer:
The correct answer is B) The value of taking care of her neighbours son for 60 minutes.
Explanation:
Opportunity Cost belongs more in the parlance of microeconomics and is used to describe the idea that one cannot have everything all the time. There are alternative ends competing for limited means. In order words, when we decide to take a course of action, in the hope of achieving a thing or getting a reward, there is always another benefit forgone.
So knowing that there is an opportunity that was foregone helps the microeconomist to think carefully about what they want to achieve using the limited resources at their disposal.
Further simplified, if I have $5 dollars to spend, and that amount can purchase either a cupcake or a cup of ice cream, the one I chose to buy becomes the opportunity taken, whilst the alternative forgone is the opportunity cost.
Therefore, the cost of an item is not just the amount of money for which it was purchased, but all other alternatives with which the same amount could have been purchased.
In the question above, Deidre would have chosen to babysit her neighbor's son. That to her is the next best use of her time, and therefore the opportunity cost. According to the question, she wouldn't have worked in the library even if she had nothing else to do. Hence, that does not pass as opportunity cost.
Opportunity cost must be an alternative choice and is very subjective.
Cheers!
Which strategies is suggested to help build strong interpersonal business relationships?
Answer and Explanation:
Gain trust: Business relationship is sealed with trust. If you are able to make a business partner trust you, you are sure to keep doing business with them. Do not try to take advantage of them and be sure they ate not thinking in that direction.
Show interest in people: keeping up with people and always showing that you actually care, and want to assist in any way you can is a sure way to seal a client for life. Be family.
Work hard: you can not build business relationships if you are not a person that delivers. It doesn't matter if you are a nice person that always cares, if you cannot bring results and be trusted to deliver you cannot have any useful business relationship. This is the most important strategy.
Networking: networking is a popular form of building business relationships. Formal occasions, conferences, informal hangout spots, the gym are all places where you can meet new people and start a business relationship.
Perdue Company purchased equipment on October 1 for $55,060. The equipment was expected to have a useful life of three years, or 7,600 operating hours, and a residual value of $1,860. The equipment was used for 1,400 hours during Year 1, 2,700 hours in Year 2, 2,300 hours in Year 3, and 1,200 hours in Year 4.
Required:
Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of-output method, and (c) the double-declining-balance method.
Answer:
$13,300 for each of the four years
Unit of output
$9800
$18900
$16100
$8400
double declining
27530
13765
6882.5
3441.25
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
( $55,060 - $1,860) / 4 = $13,300 each year
Activity method based on hours worked = (hours worked that year / total hours of the machine) x (Cost of asset - Salvage value)
( $55,060 - $1,860) / 7600 = 7
year 1 = 7 x 1400 = 9800
year 2 = 7 x 2700 = $18900
year 3 = 7 x 2300 = $16100
year 4 = 7 x 1200 = $8400
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/4 = 0.5
Year 1 = $55,060 x 0.5 = 27530
book value = $55,060 - 27530 = 27530
year 2 = 27530 x 0.5 = 13765
book value = 27530 - 13765 = 13765
year 3 = 13765 x 0.5 = 6882.50
According to the media report how have the commited collusion
Answer:
You must post the whole paragraph?????
Why do accountants not keep all the accounts at their proper balances continuously throughout the period so that adjusting entries would not have to be made before financial statements are prepared
Answer:
The transactions are recorded when they incur and then there may be some changes in those transaction later on, they all are adjusted at month end with adjusting entries.
Explanation:
It is not possible for an accountant to continuously keep updating every transaction. They all are recorded at inception and then any changes made in those transactions are adjusted at the month end. All balance are reconciled and verified. There can be events which lead to changes to the transaction after the reporting date then these events are considered as events after reporting period and they are treated differently according to guidelines specified in IAS 10.
Margaret has a portfolio consisting of a risk-free asset and a stock with a beta of 1.5. If she wishes to lower the overall beta of her portfolio Margaret could _____ the portfolio weight of the risk-free asset and _____ the portfolio weight of the stock.
A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
E) increase; not change
Answer:
B
Explanation:
Beta measures systemic risk
Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates.
The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors
the beta of a risk free asset is 1
If she wants to decrease the beta of her portfolio, she would want to decrease the riskiness of her portfolio. to do this, she should increase the weight of the risk-free asset and decrease the weight of the risky asset (stock)
evaluate the pricing strategy of Vinmart retail system
Answer:i think vinsmart is ok
Explanation:
A more efficient means of processing algae to produce an anticancer drug is discovered. As a result, the supply curve for the drug will: __________
a. shift to the right, increasing the price of the drug.
b. shift to the left, increasing the price of the drug.
c. shift to the right, decreasing the price of the drug
d. shift to the left, decreasing the price of the drug.
Answer:
c
Explanation:
As a result of an increase in efficiency in production, there would be an increase in supply. As a result, there would be an outward shift of the supply curve. When the supply curve shifts outward, supply increases and prices of drugs fall.
On the other hand, if there is an inward shift of the supply curve, the supply of drugs would fall and the price of drugs would increase
Please check the attached image showing a graph of a decrease in supply
The types of management skills
Answer:
Technical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal SkillsTechnical Skills Technical skills involve skills that give the managers the ability and the knowledge to use a variety of techniques to achieve their objectives. ...
Conceptual Skills These involve the skills managers present in terms of the knowledge and ability for abstract thinking and formulating ideas. ...
Human or Interpersonal Skills:
Stacy accidentally added a new transaction to her bank register via the bank feed that should have been matched to an existing transaction. Where in the Banking Center should she go to find the transaction and correct the error?
a. Gear icon
b. Filter
c. For Review
d. Categorized
Answer:
The answer is "Option d"
Explanation:
The classification classifies its organizing and simplification of a world for human beings comprising things, objects, or concepts that exist around them, that's why Stacy has accidentally uploaded a new transaction via a bank feed which will be matched via an existing transaction to her account. She does go to the Banking Center and employ Categorized as a procedure to remedy the error.
is deposited into an account earning interest a month, compounded monthly. Round your answers to two decimal places. (a) How much is in the account right after the deposit? Right before the deposit? Balance right after the deposit Enter your answer; Balance right after the 6^th deposit = $ 1940.52 Balance right before the deposit Enter your answer; Balance right before the 6^th deposit = $ 1940.52 (b) How much is in the account right after the deposit? Right before the deposit? Balance right after the deposit Enter your answer; Balance right after the 12^th deposit = $ Balance right before the deposit
Answer: Hello your question is poorly written hence i will provide a general answer/explanation within the scope of your question
answer
A = ( P + i )^n
Explanation:
Final Amount after/before n deposits using a compounded interest can be calculated using the function below
A = ( P + i )^n
where : A = amount , P = principal , i = interest rate , n = number of payments
In this question ; i = r/m given that interest rate is compounded monthly.
r = Annual interest rate
m = number of months
A business manager finds that the building expense each month is completely uncorrelated with revenue levels. What should the business manager assume about this cost?
Answer:
The business manager should assume that the building expense is fixed.
Explanation:
Fixed costs are not correlated with the revenue levels. Within the relevant range, fixed costs remain constant. They do not vary with the activity levels as variable costs do. For example, a manufacturer must pay for rent, repairs and maintenance, and utility bills irrespective of the revenue levels at which it is operating. This is why the business manager always discovers that the building expense each month does not correlate with the revenue levels, unlike the product's variable costs.
Identify whether a debit or credit results in the indicated change for each of the following accounts.
a. To increase Land
b. To decrease Cash
c. To increase Fees Earned (Revenues)
d. To increase Office Expense
e. To decrease Unearned Revenue
f. To decrease Prepaid Rent
g. To increase Notes Payable
h. To decrease Accounts Receivable
i. To increase Common Stock
j. To increase Store Equipment
Answer:
a. To increase Land - Debit
b. To decrease Cash - Credit
c. To increase Fees Earned (Revenues) - Credit
d. To increase Office Expense - Debit
e. To decrease Unearned Revenue - Debit
f. To decrease Prepaid Rent - Credit
g. To increase Notes Payable - Credit
h. To decrease Accounts Receivable - Credit
i. To increase Common Stock - Credit
j. To increase Store Equipment - Debit
Explanation:
Debit gives details of spending, sum owed , amount to balance which is usually recorded to the left side of an account entry book while credit gives the details of income, amount earned or made on sale, spending cut and revenue and is usually placed to the right hand column of an account entry.
Your company will generate $60,000 in annual revenue each year for the next seven years from a new information database. If the appropriate interest rate is 8.50 percent, what is the present value of the savings? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)Present value
Answer:
The answer is "[tex]\$307,110.81[/tex]"
Explanation:
Following are the calculation for the present value of the saving:
Present value[tex]= c\times \frac{1-[\frac{1}{(1+r)^t}]}{r}\\\\[/tex]
[tex]=\$60,000 \times \frac{1-[\frac{1}{(1+8.5\%)^7}]}{8.5\%}\\\\=\$60,000 \times 5.118514\\\\= \$307,110.81\\\\[/tex]
therefore, the present value of the savings is [tex]\$307,110.81[/tex]
Given that inflation in the U.S. is projected at 2% annually for the next 5 years and at 8% annually in India for the same time period, and Rupee/Dollar spot rate (R/$) is currently equal to 73.2115, obtain the exact relative PPP value of the spot rate (R/$) five years from now. Group of answer choices 97.4310 69.1442 55.0125 79.4310 77.5181
Answer:
97.4310
Explanation:
Forward rate = Spot rate * (1 + Rate of inflation in India)/(1 + Rate of inflation in US)
Spot rate in 5 years = 73.2115 * (1+0.08)^5/(1+0.02)^5
Spot rate in 5 years = 73.2115 * (1.08)^5/(1.02)^5
Spot rate in 5 years = 73.2115 * (1.4693281/1.104081)
Spot rate in 5 years = 73.2115 * 1.330815493
Spot rate in 5 years = 97.4309984657695
Spot rate in 5 years = 97.4310
One thousand dollars is invested at 5% continuous annual interest. This means the value of the investment will grow exponentially, with k equaling the decimal rate of interest. What will the value of the investment be after 7 1/2 years
Answer:
$1454.99
Explanation:
Just did this question the other day
What is the expected constant growth rate of dividends for a stock currently priced at Php 50, that is expected to pay a dividend of Php 5 next year, and has a required return of 20%?
Answer: 10%
Explanation:
Using the Gordon Growth Model, the price of a stock can be calculated as follows:
Price = Next dividend / (Required return - growth rate)
Notice that we are provided with all the figures in the formula above except the growth rate so we can calculate the growth rate with these figures:
50 = 5 / (20% - growth rate)
50 * (20% - growth rate) = 5
20% - growth rate = 5 / 50
-growth rate = 10% - 20%
-Growth rate / -1 = -10% / -1
Growth rate = 10%
Vacation Inns of America (VIA) has recently announced intentions to build a new hotel/resort complex in Myrtle Beach, South Carolina. Assume that the hotel/resort market in Myrtle Beach is characterized by monopolistic competition. As a result of the new VIA hotel/resort, tourists who stay in Myrtle Beach are likely to experience a :__________
a. a product-variety externality, which harms consumers.
b. product-variety externality, which benefits consumers.
c. business-stealing externality, which harms consumers.
d. business-stealing externality, which benefits consumers.
Answer:
b
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
The product-variety externality: When new firms enter into an industry, competition drives price down. This increases consumer surplus. As a result, entry of firms into an industry results in a positive externality on consumers.
The business-stealing externality: When a new firm enters into an industry, existing firms lose customers and profits fall. As a result, entry of a new firm results in a negative externality on existing firms.
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts.
Note: You must complete part 1 before completing part 2.
Based on the following data, prepare a bank reconciliation for December of the current year:
a. Balance according to the bank statement at December 31, $283,000.
b. Balance according to the ledger at December 31, $245,410.
c. Checks outstanding at December 31, $68,540.
d. Deposit in transit, not recorded by bank, $29,500.
e. Bank debit memo for service charges, $750.
f. A check for $12,700 in payment of an invoice was incorrectly recorded in the accounts as $12,000.
Enter all amounts as positive numbers.
Kornett Company
Bank Reconciliation
December 31, 2014
Subtotal
Adjusted Balance
Deduct
Adjusted Balance
Answer:
Balance as per bank statement $243,960
Balance as per ledger $243,960
Explanation:
Preparation of a bank reconciliation for December of the current year
KORNETT COMPANY Bank Reconciliation
December 31, 2014
Balance as per bank statement at December 31 $283,000
Add deposit in transit $29,500
Less check outstanding ($68,540)
Adjusted balance $243,960
Balance as per ledger at December 31 $245,410
Less bank service charges ($750)
Less Error in recording in check ($700)
($12,700-$12,000)
Adjusted balance $243,960
Therefore bank reconciliation for December of the current year will be :
Balance as per bank statement $243,960
Balance as per ledger $243,960
Describe in one or two paragraphs some steps you can take to make sure that a news article or post is truthful.
Answer:
News online is often fake or false, so you must take additional steps to ensure what you're reading is true. First, you should check the url. if it is a .gov or .edu, it it usually a reliable source. .com websites mean it is a commercial website, one that is just trying to earn money or fame. .edu means educational, and .gov means government, both of which are almost always truthful. That's one of the steps you can take to confirm what you're reading isn't a lie.
You can also check other reliable sorces to see if they say the same thing. If you read an article off a website, Wikipedia being a good example of this, they usually have the sources they used to write said article. Wikipedia always has a list of these at the bottom of their pages. You can check those sources to see if they are reliable, and if they are that increases the validity of the article you read.
Answer:
There are steps you can take to make sure that a news articale or post is truthful. Some examples include the following. Checking reputable websites and media outlets. It is important to check reputable websites and meadia outlets because without checking things how would you know what you are readin is true. The next step you can take to make sure that a news artical or post is truthful is checking the name of a website for red flags. If a website has certain errors you wouldn't normal see nine times out of ten the post or article you are reading is untruthful. Lastly, avoid sharing media messages, which are likely to be fake. You should avoid this because you don't want to be sharing untruthful information without knowing. So, if the website doesn't look truthful then dont share it. Those are some out the many ways you can take to make sure that a news article or post is truthful.
Explanation: My own.
How could a strategy plan be used by a local restaurant chain
Explanation:
A strategic plan for a restaurant should involve decisions regarding advertising and how customers view the restaurant from the outside. Your advertising strategy should address your customers in a way that is geared toward your primary demographic.
Otto invests $ 600 in an account that pays 7.3 % interest compounded annually. How much is in Otto's account after 3 years
Answer:
$741.23
Explanation:
The formula for calculating future value:
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
600(1.073)^3 = $741.23
Identify the organizational method/pattern used in each of the following sets of main points.
a. Fraudulent charity fund-raising is a widespread national problem.
b.The problem can be solved by a combination of government regulation and individual awareness.
c. At the top of the rainforest is the emergent layer, where trees can be 200 feet tall.
d. Below the emergent layer is the canopy, where vegetation is so dense that it filters out 80 percent of the sunlight.
e. Beneath the canopy is the understory, where trees are less than 12 feet tall and grow large leaves to collect the small amount of sunlight.
f. At the bottom is the forest floor, where there are almost no plants because of the lack of sunlight.
g. Sonia Sotomayor is best known as the first Hispanic justice of the U.S. Supreme Court.
Correct question options:
1 I.Fraudulent charity fund-raising is a widespread national problem.
II.The problem can be solved by a combination of government regulation and individual awareness.
2 I.At the top of the rainforest is the emergent layer, where trees can be 200 feet tall.
II.Below the emergent layer is the canopy, where vegetation is so dense that it filters out 80 percent of the sunlight.
III.Beneath the canopy is the understory, where trees are less than 12 feet tall and grow large leaves to collect the small amount of sunlight.
IV.At the bottom is the forest floor, where there are almost no plants because of the lack of sunlight.
3 I.Sonia Sotomayor is best known as the first Hispanic justice of the U.S. Supreme Court.
II.Sonia Sotomayor is also an accomplished communicator who has given hundreds of public speeches.
Answer:
1. Problem-solution pattern
2. Compare and Contrast
3. Sequence
Explanation:
Organizational models or structures are the various ways writers organize their ideas in their work in order to enable the reader better understand the write-up. Organizational models may depend on the type of essay or story being written. Example, an autobiography usually follows a sequence type of pattern. An article could also follow a problem-solution pattern as in the first example above.
You are stowing items and come across an aerosol bottle of hairspray. What
should you do? Please choose all that apply.
Question Completion with Options:
o Stow the hairspray
o Raise an Andon
o Remove it and secure it with bubble wrap
o Place a Flammable sticker on the bottle
Answer:
What to do:
o Stow the hairspray
Explanation:
Stowing means the arrangement or placement of items, especially in a neat, compact way to enable easy retrieval when required. Therefore, you should continue what you have started by arranging the bottle of hairspray where it belongs in the appropriate packing space. Stowing ensures that items are properly arranged and put in their proper places or conditions when they are not in use.
At the beginning of 2004, the Alaska Corporation had 2 million shares of common stock outstanding and no preferred stock. At the end of August, 2004, Alaska issued 600,000 new shares of common stock. If Alaska reported net income equal to $8.8 million, what was the firm's earnings per share for 2004
Answer:
$4
Explanation:
Earning per share (EPS) refers to earnings available to common shareholders which is divided by the weighted average number of common shares outstanding.
The weighted average number of shares outstanding equals the original 2 million shares plus 4/12 of the additional 600,000 shares.
The 4/12 weight is used because the new shares were only outstanding 4 months of the year.
Hence,
EPS = $8.8 million / [2 million + (4/12)(600,000)
EPS = $8.8 / $2.2
EPS = $4
1.8 Advise businesses on FIVE ways in which professional, responsible, ethical and
effective business practice should be conducted.
Answer:
Explanation:
There are various ways in which professional, responsible, ethical and
effective business practice should be conducted. Five of them are:
1. Payment of fair wages and salaries to employees
2. Equal treatment among workers
3. Accountability and responsibility on business decisions made from top to bottom or managers to workers
4. Provision of quality goods and services to the masses
5. Transparency, including adequate internal controls, monitoring, and evaluation.
Because stocks rely on dividends as the principal source of cash flow, ascertaining stock prices is an easier and more precise process than the valuation of bonds, which relies on variable coupon payments.
a. True
b. False
Answer:
B
Explanation:
Shares grants ownership rights to holders of the shares.
The payment of stock is not fixed. it is variable and it depends on the net income earned by a company. stockholders are paid after bondholders have been paid.
bonds are debt instruments issued by a company
coupon payments are fixed and contractual.
bonds are thus easier to value
The percentage of earnings paid out as dividends. A measure of a company's success in earning a return for all providers of capital. The relationship between dividends and the market price of a company's stock. The measure of a company's success in earning a return for the common stockholders. A company's bottom line stated on a per-share basis.
Answer:
Dividend payout ratio - The percentage of earnings paid out as dividends.
Return on Assets ratio - A measure of a company's success in earning a return for all providers of capital.
Dividend yield ratio - The relationship between dividends and the market price of a company's stock.
Return on common stockholder's equity ratio - The measure of a company's success in earning a return for the common stockholders.
Earnings per share - A company's bottom line stated on a per-share basis.
Explanation:
The analysis of financial statements is made by every company from time to time in order to make effective decisions for the future of the company. This evaluation involves plenty of terminologies and ratios that allow the owners to consider different aspects of the company's growth and where it lags behind. For example, The 'Dividend payout ratio' helps the companies to have a check on the amount of money returned by them to their respective shareholders. While 'return on assets ratio' assists them in knowing if the company is able to make adequate profits in comparison to its assets. Similarly, the other terms also help know about the actual status of the company.
Jennifer is saving up for the closing costs ($4250) and down payment on a home. For a better interest rate and savings on mortgage insurance, she must have a down payment of 10%. She can afford a monthly payment of $900 based on her current earnings and expenses. The amount available for the mortgage is reduced by an estimated $175 per month to cover home insurance and real estate taxes. The current nominal annual interest rate is 3% for a 30-year fixed-rate mortgage loan. How much of a loan can she afford
Answer:
The amount of Loan Jennifer can afford is $171,962.30.
Explanation:
This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value or the amount of Loan Jennifer can afford =?
P = Monthly payment for the mortgage = Monthly amount she can afford - Estimated monthly home insurance and real estate taxes = $900 - $175 = $725
r = Monthly nominal interest rate = Annual nominal interest / 12 = 3% / 12 = 0.03 / 12 = 0.0025
n = number of months = Number of years * 12 = 30 * 12 = 360
Substitute the values into equation (1) to have:
PV = $725 * ((1 - (1 / (1 + 0.0025))^360) / 0.0025)
PV = $725 * 237.189381504283
PV = $171,962.30
Therefore, the amount of Loan Jennifer can afford is $171,962.30.
Using an order of magnitude analysis, estimate the total textbook expenditures incurred by all engineering majors at National University per year
Answer:
The total textbook expenditure would amount to $175,000 per year
Explanation:
National University is providing text books free of cost to all the engineering students to encourage professional studies. Very few students are pursuing engineering studies. For this purpose university management has decided to give free of cost books to students who select engineering majors. The total expenditure would be:
Cost of Printing Books $110,000
Transportation of the Books to different Campuses $25,000
Distribution Campaign Expense $40,000
Total expenditure amounts to $175,000