Answer: control
Explanation:
From the question, we are informed that Frank needs to buy a new car and that before visiting a showroom, however, he logs onto www.autobytel.com and compared the attributes of various makes and models, and also found other vital information.
We are further told that after deciding on the car he wants to buy, Frank visits the local showroom and negotiates with the salesperson for the model and options package he wants and he was able to make a deal that is several hundred dollars less than the salesperson's best offer.
Frank's car-buying experience illustrates control. Consumers like to have control when buying a product and have detailed information regarding a product.
Answer:
Control
Explanation:
The sixth reason why people shop online is control, which online shopping delivers to customers. The customer can seek information, evaluate available options, make purchases and timely decisions and all this is possible if the customer emphasizes control over their online shopping behaviors.
Here, Frank seeks online information, evaluates the best option and then choose the option. Frank also visits the showroom by searching online the product availability which confirms his evaluation of options that gives him control over his online shopping behavior. Furthermore, Frank makes deal that is several hundred dollars less than the salesperson's best offer which shows informed decision making of Frank and this was all possible because of control of purchasing behavior that online shopping delivers to customers.
If the dollar appreciates, perhaps because of speculation or government policy, then U.S. net exports Group of answer choices increase which shifts aggregate demand right. increase which shifts aggregate demand left. decrease which shifts aggregate demand right. decrease which shifts aggregate demand left.
Answer: decrease which shifts aggregate demand left
Explanation:
Net exports is calculated when the value of a nation's total imports is deducted from the value of the nation's total exports.
When the dollar appreciates, perhaps because of speculation or government policy, then U.S. net exports decrease which shifts aggregate demand left. This is because due to the appreciation, goods that are made in other countries, that's the import will become cheaper and import rises while export reduces.
The stock price of Harper Corp. is $33 today. The continuously compounded interest rate is 6%. A put option on Harper Corp. stock with an exercise price of $30 and an expiration date 73 days from now is worth $.95 today. A call option on Harper Corp. stock with an exercise price of $30 and the same expiration date should be worth __________ today. (Assume 365 days a year) A. $2.25 B. $3.14 C. $3.99 D. $4.31
Answer:
D. $4.31
Explanation:
The computation of expiration date should be worth in today is shown below:-As per put-call parity
P + S = present value of X + C
Where,
P indicates the value of the put option
S indicates the current price of a share
X indicates the strike price
C indicates the value of the call option.
Present value of X = X ÷ e^r
r represents the risk-free rate
Now, we will put the values into the above formula
Present value of X = 30 ÷ e^0.012
r = 6% × (73 ÷ 365)
= 1.2%
0.95 + 33 = (30 ÷ e^0.012) + C
After solving the above equation we will get
C = $4.31
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 127,500 Cash dividends declared for the year 47,500 Proceeds from the sale of equipment 82,500 Gain on the sale of equipment 7,300 Cash dividends payable at the beginning of the year 19,500 Cash dividends payable at the end of the year 21,800 Net income for the year 93,500 What is the ending balance for retained earnings
Answer:
Explanation:
Retained earning is the amount of net income left for the business owners after paying out dividends to its shareholders , which can be utilized for further expansion as the strategy may require .
To calculate the retained earning for a particular period , the opening retained earning is added to the loss or profit and the dividends payout subtracted
Retained earning = Opening retained earning + net income - dividends paid
127,500+ 93,500 - 47,500
127,500+93,500 -47,500 = 173,500.
The _________________ is an accounting method that (a) estimates bad debts expense from credit sales during the period sales are recognized, and (b) reports accounts receivable at the estimated amount of cash to be collected. Multiple Choice Adjustment method for uncollectible debts.
Answer:
A) Allowance method of accounting bad debts
Explanation:
Based on the allowance method, the bad debts should be calculated on either credit sales i.e. income statement method or receivable aging method i.e. balance sheet method. Also, the account receivable should be recognized at net realizable value
Therefore the allowance method of accounting bad debts is an answer
"An investor has a portfolio of diversified blue chip stocks with a current market value of $350,000. The portfolio has a computed beta factor of 1.8. The customer wants to protect the portfolio from a declining market with the use of OEX contracts. The OEX closed this day at 350. To hedge with "at the money" contracts, the customer should:"
Answer: Buy 18 contracts
Explanation:
Hedging against the risk involved in an investment means the use of market strategies or financial instruments to offset risk.
When there is a drop in the market value, any loss that is incurred on the portfolio will have to be offset by the long puts gain. This implies that 10 put contracts will have to be required for hedging. This is calculated as:
= $350,000/(350 × 100)
= $350,000/35,000
= 10 contracts
Since the portfolio has a computed beta factor of 1.8, we then multiply 10 by 1.8. This will be:
= 10 × 1.8
= 18 contracts.
An account related with another account on the financial statements that 1) directly reduces the related account and 2) has an opposite normal balance than the related account, is a(n) Multiple Choice Permanent account Temporary account Contra account.
Answer:
Contra account.
Explanation:
A contra account is an account that has an opposite of what is the normal balance for the class of such an account. a company would be able to report the original amount and in so doing also be able to report the reduction and then what is the net amount would be reported. in other words such an account is used to reduce the value of another related account. And thereafter the net value is what is going to be reported.
Explain the importance of international employment
Answer:
having international workers allow organisation to be connected two other country markets as well.they get to know the best places to get resources and how to approach different countries through being thought business norms and culture by international employees.
Answer:
Employment created through the investment of a country or the partnership of countries is known as international employment. International employment are important to provide employment opportunities to people , help in bringing the investment of foreign capital , increase the pace of economic activities , provide environment to operate with foreign people's knowledge , skill and technology , create variation in material production etc.
Molly and Craig are the original parties to a contract. Craig is obligated to design a Website for Molly. They subsequently make an agreement with Eric that Eric should take the place of Craig and assume all of Craig's rights and duties under the contract. The agreement releases Craig from his obligations under the contract. This agreement is
Answer:
Novation
Explanation:
A novation is an agreement that is made between the two parties. In this, the one-party could take place or we can say the substituting of a new party could be done but the parties could ready for the novation
Here in the given scenario, since the Eric takes the place of Craig and its rights and duties are now with Eric
So this situation represents the novation agreement
Cart Co. purchased an office building and the land on which it is located for $750,000 cash and an existing $250,000 mortgage. For realty tax purposes, the property is assessed at $960,000, 60% of which is allocated to the building. At what amount should Cart record the building
Answer:
$600,000
Explanation:
The computation of the amount to be recorded for the building is shown below:
But first we have to determine the total acquisition cost of land which is as follows
= Cash + mortgage
= $750,000 + $250,000
= $1,000,000
Now it is mentioned that 60% is allocated to the building
So, it would be
= $1,000,000 × 60%
= $600,000
Ben works at a small advertising agency as a graphic artist. Ben enjoys his job because the company allows employees to have flexible schedules and to telecommute when necessary. Which of the following best describes this type of employee compensation? A) indirect financial compensation B) direct financial compensation C) nonfinancial compensation D) required compensation
Answer:
C) nonfinancial compensation.
Explanation:
In this scenario, Ben works at a small advertising agency as a graphic artist. Ben enjoys his job because the company allows employees to have flexible schedules and to telecommute when necessary. A non-financial compensation best describes this type of employee compensation because employees aren't given any compensation in cash.
A non-financial compensation can be defined as the satisfaction or benefits an employee derives from working in a particular organization without any form of monetary incentive. It has to do solely with non-monetary values such as flexibility, job environment, relaxation spots, food, fitness facilities etc.
Consider a small country that is closed to trade, so its net exports are equal to zero. The following equations describe the economy of this country in billions of dollars, where C is consumption, D is disposable income, I is investment, and G is government purchases: C=40+0.9∗DIG=80I=201. Assume that this economy initially has a fixed tax and that net taxes (taxes minus transfer payments are $100 billion. Disposable income is then (Y−100), where Y is the real GDP. Aggregate output demanded is $500 billion (True/False).2. Suppose the government decides to increase spending by $10 billion without raising taxes. Because the expenditure multiplier is 10 (True/False), this will increase the economy's aggregate output demanded by $100 billion (True/False).3. Now, suppose that the government switches to an income tax, which is the type of variable tax, of 20%. Because consumers retain only 80% of each additional dollar of income, disposable income is now 0.80∗Y. In this case, the economy's aggregate output demanded is $500 billion (True/False).4. Given an income tax of 20%, the expenditure multiplier is approximately 3.6 (True/False). Therefore, if the government decides to increase spending by $10 billion without raising tax rates, this would increase the economy's aggregate output demanded by approximately $36 billion (True/False).5. A $10 billion increase in government purchases will have a larger effect on output under a fixed tax of $100 billion (True/False).
Answer:
1. Aggregate output demanded is $500 billion. True.
Aggregate Demand (Y) = C + G + I
Y = 40+0.9∗DI + 80 + 20
Y = 40 + 0.9 ∗ (Y−100) + 80 + 20
Y = 50 + 0.9Y
0.1Y = 50
Y = $500 billion
2. Suppose the government decides to increase spending by $10 billion without raising taxes. Because the expenditure multiplier is 10. True.
Expenditure Multiplier = 1 / ( 1 - Marginal Propensity to Consume)
Marginal Propensity to Consume = 0.9 as per the Consumption function.
= 1/ ( 1 - 0.9)
= 10
2. b. this will increase the economy's aggregate output demanded by $100 billion. True.
Change in Aggregate output = Increase in government expenditure * expenditure multiplier
= 10 billion * 10
= $100 billion
3. ... In this case, the economy's aggregate output demanded is $500 billion . True.
Aggregate Demand (Y) = C + G + I
Y = 40+0.9∗DI + 80 + 20
Y = 40 + 0.9 ∗ (0.80∗Y) + 80 + 20
Y = 140 + 0.72Y
0.28Y = 140
Y = $500 billion
4. Given an income tax of 20%, the expenditure multiplier is approximately 3.6. True.
As a result of the new tax, the MPC will become;
= 0.9 * ( 0.80 * Y)
= 0.72Y.
Expenditure Multiplier = 1 / ( 1 - Marginal Propensity to Consume)
= 1/ ( 1 - 0.72)
= 3.57
= 3.6
4. b. Therefore, if the government decides to increase spending by $10 billion without raising tax rates, this would increase the economy's aggregate output demanded by approximately $36 billion. True.
Change in Aggregate output = Increase in government expenditure * expenditure multiplier
= 10 billion * 3.6
= $36 billion
5. A $10 billion increase in government purchases will have a larger effect on output under a fixed tax of $100 billion. True.
When the tax was fixed, an increase in Government purchases of $10 billion resulted in an increase in Aggregate output of $100 billion. When the Government switched to income taxes however, a $10 billion increase in Government spending led to a significantly lesser increase in Aggregate output of $36 billion.
After listening to her boss's instructions regarding completion of the project, Angelica said, "Let me make sure I've got this straight. You need this project completed by the 15th of the month so we can go over it and make any changes before our meeting with the client on the 17th. Is that correct?" This is an example of _____.
Answer:
Paraphrasing
Explanation:
What Angelica did by making these statements and asking her boss these questions is called paraphrasing. She did it to gain clarity on what her boss already said or discussed.
When paraphrasing one would use different words to express the meaning of something for clarity on what is being discussed. It is simply a way of restating spoken words or written words using your own words.
South Korea has developed amazingly, with huge corporations making vast amounts of money and giving everyone there a high standard of living, while the vast majority of people in the Central American nation of Guatemala are plagued by extreme poverty, violence, and poor living conditions. This is an example of:
Answer: Uneven Development
Explanation:
South Korea is one of the success stories of the last century. After the Korean War devastated large parts of the Korean peninsula, foreign aid poured in and the people embraced development fully. This led to the development of large corporations such as Samsung making vast amounts of money and giving everyone there a high standard of living.
Guatemala on the other hand has been ravaged by poverty and poor living conditions for a long time resulting from a bloody civil war that lasted for decades. This led to gangs been formed to compete for resources as well as illegal activities being carried out such as drug trafficking. This only made things worse.
These are 2 countries are a prime example of how countries in the world are experiencing Uneven Development. How in one nation the standards of living are high and people are safer but on the same planet and in another nation people are living in abject poverty and fearing constantly for their lives.
Crystal Ship Knitwear, Inc., is expanding its offerings from handmade winter hats, scarves, and gloves to include clothing such as sweaters and knit outerwear. At the same time, it wants to open two retail stores and not rely entirely on online sales. To staff the new manufacturing facilities and brick-and-mortar stores properly, the company should conduct a(n) Group of answer choices
Answer: demand forecast
Explanation:
Demand forecast simply means predicting the demand for a particular good or service in order to determine supply and also make other necessary management decisions.
Based on the information that were provided in the question, to staff the new manufacturing facilities and brick-and-mortar stores properly, the company should conduct a demand forecast.
All else equal, which of the following is most likely to increase a company's retained earnings breakpoint? a. An increase in the company's dividend payout ratio b. both factors will lead to an increase in the retained earnings breakpoint. c. A decrease in the fraction of equity used in the company's target capital structure
Answer: decrease in the fraction of equity used in the company's target capital structure
Explanation:
Retained earnings is the part of the net income that is left over for the business when the business has already paid out dividends to the shareholders. The retained earnings can be put back into the business.
A decrease in the fraction of equity used in the company's target capital structure will lead to an increase a company's retained earnings breakpoint.
Explain the concept of an opportunity cost with an appropriate example
Answer:
Explanation:
Opportunity cost is an economics tool that is useful in the process of making a choice of goods and services in order to ensure that scarce resources are used efficiently.
The opportunity cost of a product or service is the name given to an income that could be earned when such product or service is put to an alternative use.
It can also be described as the cost of the alternative forgone to achieve a particular product or service
For an example , if a student decides to give up on watching a movie to study for his exam , the opportunity cost of the exam is the cost and pleasure related to the movie
Customers can build their own computers with Dell's online configurator. They simply have to answer a few questions and choose from a menu of product attributes, prices, and delivery options. The design of a Dell customized computer is made possible through the use of a
Answer: Choiceboard
Explanation: A choiceboard may be explained as an online tool usually developed by product makers or manufacturers which affords consumers to make bespoke or custom products by allowing them the flexibility of making personal choices about the type, attribute and specifications they would want their personal product to posses. The choiceboard will contain a list of various options available on each of the specifications a product could have and the customer makes his or her choice allowing them to build a fully customized product.
Sam entered into a contract to sell his home to Gina. After the inspection, Gina insisted that Sam replace the damaged roof. Sam refused, and the parties agreed to cancel the deal. This is an example of ______.
Answer:
Mutually rescinding the contract.
Explanation:
In this scenario, Sam entered into a contract to sell his home to Gina. After the inspection, Gina insisted that Sam replace the damaged roof. However, Sam refused, and the parties agreed to cancel the deal. This is an example of Mutually rescinding the contract.
Mutually rescinding a contract refers to the act of annulment of a contract, by discharging or relieving both parties in the contract of their obligation by reaching an agreement after the execution of an original contract agreement.
Simply stated, it avails two parties in a contract, the opportunity and privilege to cancel or annul the contract by relieving them of their contractual obligations.
When Jack was hired in 2011 at Ford Motor Company, he was offered $14 an hour. His best friend Sam started at the same plant doing the same job two years earlier making $28 an hour. This is an example of
Answer:
This is an example of pay rise!
I hope this helps you!
To take into consideration demand uncertainty in reorder point (R) calculations, what do we add to the product of the average daily demand and lead time in days when calculating the value of R
Answer:
The answer is "The result of the standard deviation of request and a 'z' rating over a certain possibility of operation".
Explanation:
When we have determined 10 units per day for standard deviation with supply, while the period to ordering in 5 days. Its standard 5-day duration is or the equation 17.8, which is multiplied by the z-score, which is the equation 17.9 has as long as per day is selected based, that's why the result of normal volatility of request as well as a 'z' score over a certain possibility of service is correct.
Assume the following sales data for a company:
Current year $325,000
Preceding year 250,000
What is the percentage increase in sales from the preceding year to the current year?
a. 70%
b. 30%
c. 50%
d. 76.9%
Answer:
b. 30%
Explanation:
The computation of the percentage increased in sales from the previous year to the current year is shown below:
= (Current year Sale - Preceding year Sale) ÷ (Preceding year Sale )
= ($325,000 - $250,000) ÷ ($250,000)
= ($75,000) ÷ ($250,000)
= 30%
Hence, the correct option is b. 30%
We simply applied the above formula to determine the percentage increased in sales
The percentage that increased in sales from the preceding year to the current year is 30%. The correct option is b.
The computation of the percentage increased in sales from the previous year to the current year is shown below:
=(Current year Sale - Preceding year Sale) (Preceding year Sale)
=($325,000-$250,000)÷ ($250,000)
=($75,000)÷ ($250,000)
=30%
A sale is a transaction that involves the exchange of services or goods for a specific sum of money. In other terms, a sale is any activity that involves transferring ownership of a good or commodity to the buyer in exchange for a monetary price.
Learn more about sale, here:
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The government decides to increase its expenditures by $350. The multiplier in this economy is 4 and the tax rate is 22 percent. The net effect of this expansionary fiscal policy is to: Group of answer choices
Answer:
Increase the budget shortage by $42
Explanation:
The government decides to increase expenditure by $350
The multiplier in the income is 4
The tax rate is 22%
= 22/100
= 0.22
The first step is to calculate the increase in income
= $350×4
= 1,400
The tax revenue which will be derived from the new income can be calculated as follows
= 0.22×1,400
= 308
Therefore, the net effect can be calculated as follows
Net effect= $350-$308
= $42
Hence the net effect of this expansionary fiscal policy is to make an increase in the budget shortage by $42
Sweet Leaf Tea,a Texas-based maker of bottled iced tea,is a small but fast-growing firm that has gained a loyal following for its use of fresh,organic ingredients in its beverages.Although beverage industry experts recommended that Sweet Leaf replace the organic cane sugar and honey it uses with less costly high-fructose corn syrup,Sweet Leaf refused because of the company's mission to provide a high-quality,organic beverage to consumers.The 11-year-old company has 50 employees,and its products are available in 30% of the U.S.market.Sweet Leaf Tea recently received multimillion dollar investments which will enable the business to expand its national presence. Which of the following,if true,would most likely undermine the argument that Sweet Leaf Tea should implement a corporate-level strategy of vertical integration?A) Sweet Leaf Tea lacks the facilities or knowledge to produce the raw ingredients for its beverages.B) Market research suggests that Sweet Leaf Tea customers primarily purchase only one flavor of tea.C) Most loyal customers of Sweet Leaf Tea purchase the beverage at neighborhood convenience stores.D) Sweet Leaf Tea has decided to lower its prices by replacing cane sugar with corn syrup in some of its beverages.
Answer:
Correct Answer:
A) Sweet Leaf Tea lacks the facilities or knowledge to produce the raw ingredients for its beverages.
Explanation:
Vertical integration is a strategy whereby a company owns or controls its suppliers, distributors or retail locations which helps to control its product value and supply chain associated with the product it is selling.
Also, vertical integration benefits companies by allowing them to control process, reduce costs and improve efficiencies of the product. Since Sweet Leaf Tea Company lacks the facilities or knowledge to produce the raw ingredients for its beverages, it would definitely undermine its ambition.
Tina and Tom are co-workers at Acme Corporation.As night custodians,they work together cleaning the Acme office building at night when the building is empty.Tom regularly makes sexual advances toward Tina that distress her.However,Tina has never complained about Tom's conduct to her supervisor,Mary,who only works during the day.Which of the following statements is most accurate? A) Acme Corporation is strictly liable for Tom's harassment of Tina. B) Acme Corporation may defend that it did not know about Tom's harassment of Tina. C) Acme Corporation is not liable because Tom is not Tina's supervisor. D) Acme Corporation is not liable because Tina voluntarily accepted the job of a night custodian.
Answer:
B) Acme Corporation may defend that it did not know about Tom's harassment of Tina
Explanation:
In this scenario where the two co-workers clean the office at night when the building was empty, Tina has never complained about Tom's misconduct to her supervisor. Also the supervisor does not work nights with Tom and Tina, she works in the morning.
Acme Corporation will use this a defence if sexual harassment charges are filed. The supervisor was not told of the sexual harassment and neither was she on the same shift with the workers. So the employer was not aware of what was happening.
Since the act was only known to her co-worker Tom it will be a case between her and Tom and not her employer (Acme Corporation).
Which of the following is a condition that may cause a fee simple absolute to become a fee simple defeasible...? The owner takes out a mortgage on the property The owner gifts the property to another entity The owner demolishes a structure on the property The owner grants the property to another entity for a specific use and period of time
Answer:
A condition that may cause a fee simple absolute to become a fee simple defeasible is:
The owner gifts the property to another entity
Explanation:
Jane holds a landed property as a fee simple absolute, therefore, she has absolute ownership. This implies that her ownership of the property lasts forever unless she transfers it. Jane can do whatever she wants with the property. It is unlike a defeasible fee, which is simply a fee simple interest in land which Jane can lose by the occurrence of a specified event.
To support the manufacture of desktop computers for their customers, Dell needs to order all the parts that go into the computer, such as hard drives, motherboards, and memory modules. Obviously the demand for these items is driven by the production schedule for the computers. What is the term used to describe demand for these parts?
Answer:
Dependent demand.
Explanation:
In order to support the manufacture of desktop computers for their customers, Dell needs to order all the parts that go into the computer, such as hard drives, motherboards, and memory modules.
Hence, the term used to describe demand for these parts is dependent demand.
A dependent demand can be defined as the situation whereby the demand for a specific product or item occurs as a result of the demand for another product or item. The two products are known as the lower level or child item and the higher level or parent items.
This simply means that, the components that goes into a computer are the lower level or child items while the computer itself is the higher level or parent item.
An issuer has filed a registration statement with the SEC, but the registration is not yet effective. The issuer subsequently files additional documentation with the SEC to meet its "full and fair disclosure" obligation. Any agent that is contacting a potential customer to buy the issue must provide the customer with the:
Answer: Preliminary prospectus; Prospectus supplement
Explanation:
From the question, we are informed that an issuer has filed a registration statement with the SEC, but the registration is not yet effective and that the issuer subsequently files additional documentation with the SEC to meet its "full and fair disclosure" obligation.
It should be noted that any agent that is contacting a potential customer to buy the issue must provide the customer with the preliminary prospectus and the prospectus supplement.
All the following statements concerning the interest settlement option in life insurance are correct EXCEPT: Group of answer choices the beneficiary may be allowed to withdraw part or all of the proceeds. the beneficiary may be allowed to change to another settlement option. the minimum guaranteed interest rate usually is equal to the prime rate. the interest can be paid monthly, quarterly, semiannually, or annually.
Answer:
the minimum guaranteed interest rate usually is equal to the prime rate.
Explanation:
Interest settlement in a life insurance policy involves the insurance company maintaining proceeds from the policy and investing it.
The policy holder is promised a minimum interest rate.
However there is no guarantee that the minimum interest rate will be equal to prime interest rate. Prime interest rate is the official lending rate that is given by banks.
The payment of interest can be monthly, quarterly, semiannually, or annually.
Beneficiary can withdraw all or part of the proceeds, and he has the option of switching to another settlement method.
Shaw Company engages Maya Company to produce a large machine, install the machine, and train their employees on the machine. The machine, installation, and training are distinct, and Maya determines that the contract includes three separate performance obligations. The machine, installation, and training typically cost $800,000, $100,000, and $100,000 respectively when each is provided in a separate contract. Shaw and Maya agree to a total contract price of $920,000. How much of the contract price should Maya allocate to the machine, installation, and training, respectively?
Answer:
Explanation:
Cost
Machine - 800,000
Installation - 100,000
Training - 100,000
Total cost - 1,000,000
Contract price - 920,000
Using ratio to allocate the prices , we have
a)Machine price = cost of machine / total cost * total contract price
800,000/1,000,000*920,000 = 736,000
b) Installation price =cost of installation / total cost * total contract price
100,000/1,000,000*920,000 = 92,000
c) Training price = cost of training / total cost * total contra t price
100/1,000,000 * 920,000 = 92,000
736,000+92,000+92,000= =920,000
When Louis Martin was born, her father deposited $2000 in a savings account in her name at a savings and loan association (S&L). At the time, the S&L paid 6% interest compounded semi annually. After 10 years, the S&L changed to a rate of 6% compounded quarterly. What was the value of the account after 18 years when the money was withdrawn to help pay for her college expenses
Answer:
FV= $5,812.85
Explanation:
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
First investment:
PV= 2,000
i= 0.06/2= 0.03
n= 10*2= 20
FV= 2,000*(1.03^20)
FV= $3,612.22
Second investment:
PV= 3,612.22
i= 0.06/4= 0.015
n= 8*4= 32
FV= 3,612.22*(1.015^32)
FV= $5,812.85
