The employee behavior could be attributed to the higher endorsement of legality in Japan.
Communication is known to be a process by which information is exchanged between multiple individuals through a common system of symbols, signs, or behavior. In our daily life, communication helps us build relationships by allowing us to share our experiences and needs, and helps us connect to others. It's the essence of life, allowing us to express feelings, pass on the information and share thoughts.
Most people think about speech when they think about communication but there are many other ways we can also use to communicate with each other.
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Krause Industries’ balance sheet at December 31, 2016, is presented below.
KRAUSE INDUSTRIES
Balance Sheet
December 31, 2016
Assets
Current Assets
Cash $7,500
Accounts receivable 73,500
Finished goods inventory (1,500 units) 26,050
Total current assets 107,050
Property, Plant, and Equipment
Equipment $40,430
Less: Accumulated depreciation 10,090 30,340
Total assets $137,390
L
Sales budget (8,000 units at $32) $76,800 $256,000
Direct materials used 13,570 62,500
Direct labor 12,500 50,900
Manufacturing overhead applied 10,000 49,270
Selling and administrative expenses 16,660 75,000
To meet sales requirements and to have 2,500 units of finished goods on hand at December 31, 2017, the production budget shows 9,000 required units of output. The total unit cost of production is expected to be $18. Krause uses the first-in, first-out (FIFO) inventory costing method. Interest expense is expected to be $3,500 for the year. Income taxes are expected to be 40% of income before income taxes. In 2017, the company expects to declare and pay an $10,560 cash dividend.
The company’s cash budget shows an expected cash balance of $5,880 at December 31, 2017. All sales and purchases are on account. It is expected that 60% of quarterly sales are collected in cash within the quarter and the remainder is collected in the following quarter. Direct materials purchased from suppliers are paid 50% in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2017, the company expects to purchase additional equipment costing $11,900. $9,437 of depreciation expense on equipment is included in the budget data and split equally between manufacturing overhead and selling and administrative expenses. Krause expects to pay $9,260 on the outstanding notes payable balance plus all interest due and payable to December 31 (included in interest expense $3,500, above). Accounts payable at December 31, 2017, includes amounts due suppliers (see above) plus other accounts payable of $8,250. Unpaid income taxes at December 31 will be $7,860.
(a) Prepare a budgeted statement of cost of goods sold.
KRAUSE INDUSTRIES
Budgeted Cost of Goods Sold
For the Quarter Ending December 31, 2017For the Year Ending December 31, 2017December 31, 2017
Cost of Goods ManufacturedManufacturing Overhead AppliedCost of Goods Available For SaleDirect Materials UsedIncome Tax ExpenseNet Income / (Loss)Selling and Administrative ExpensesSalesInterest ExpenseCost of Goods SoldFinished Goods Inventory, 1/1/17Finished Goods Inventory, 12/31/17Direct Labor $
Cost of Goods ManufacturedCost of Goods Available For SaleFinished Goods Inventory, 1/1/17Selling and Administrative ExpensesCost of Goods SoldFinished Goods Inventory, 12/31/17Direct Materials UsedDirect LaborManufacturing Overhead AppliedIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Sales
Cost of Goods Available For Sale Cost of Goods Manufactured Cost of Goods Sold Finished Goods Inventory, 12/31/17 Finished Goods Inventory, 1/1/17 Direct Materials Used Direct Labor Manufacturing Overhead Applied Income Tax Expense Interest Expense Net Income / (Loss) Sales Selling and Administrative Expenses $ Cost of Goods Manufactured Direct Materials Used Net Income / (Loss) Cost of Goods Available For Sale Manufacturing Overhead Applied Cost of Goods Sold Finished Goods Inventory, 12/31/17 Sales Selling and Administrative Expenses Finished Goods Inventory, 1/1/17 Direct Labor Income Tax Expense Interest Expense
Cost of Goods Sold Selling and Administrative Expenses Finished Goods Inventory, 1/1/17 Cost of Goods Available For Sale Finished Goods Inventory, 12/31/17 Direct Labor Direct Materials Used Income Tax Expense Manufacturing Overhead Applied Cost of Goods Manufactured Net Income / (Loss) Interest Expense Sales
Net Income / (Loss)Direct Materials UsedDirect LaborManufacturing Overhead AppliedInterest ExpenseIncome Tax ExpenseSalesSelling and Administrative ExpensesCost of Goods SoldCost of Goods Available For SaleCost of Goods ManufacturedFinished Goods Inventory, 12/31/17Finished Goods Inventory, 1/1/17
Cost of Goods Available For SaleCost of Goods ManufacturedNet Income / (Loss)SalesSelling and Administrative ExpensesManufacturing Overhead AppliedDirect Materials UsedFinished Goods Inventory, 1/1/17Cost of Goods SoldDirect LaborFinished Goods Inventory, 12/31/17Interest ExpenseIncome Tax Expense
Direct LaborCost of Goods Available For SaleSelling and Administrative ExpensesNet Income / (Loss)Manufacturing Overhead AppliedCost of Goods SoldFinished Goods Inventory, 1/1/17Interest ExpenseIncome Tax ExpenseSalesDirect Materials UsedCost of Goods ManufacturedFinished Goods Inventory, 12/31/17 $
A balance sheet is a report created to determine the values of a company's assets and liabilities as of a specific date.
Describe what an asset is.If you can sell your possessions for money, they are your assets. In accounting, every thing that a corporation controls or owns is referred to as an asset. Anything that was capable of being sold for money is eligible. The assets and liabilities listed on a balance sheet can be used to calculate the equity value.
Is money a form of asset?Personal assets are things that belong to that of a person or a family and have current or future value. Personal assets often include cash and also its equivalents, certificates of deposit (CDs), check and money market accounts money market accounts, real cash, and Treasury notes.
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What is the purpose of checks and balances and the separation of powers in the US government?
The purpose of check and balance and separation of powers in the US is to ensure that no one branch or person within the US government has excessive power, checks and balances and the separation of powers are in place.
What is the separation of powers?The concept of a system of checks and balances relates to the ways in which the various parts of government are able to restrict the separation of powers of the other branches. The separation of powers describes how the government is split into the legislative, executive, and judicial parts.The purpose of checks and balances and separation of powers in the US is to ensure that no one branch or person within the US government has excessive power, checks and balances and the separation of powers are in place.It also prohibits any one group from obtaining too much influence, which could result in misuse of authority, separation of powers, and a lack of accountability.To learn more about separation of powers from the given link
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The expense that relates to a formal note payable and accumulates or accrues throughout the accounting period is referred to as
The expense that relates to a formal note payable and accumulates or accrues throughout the accounting period is referred to as the interest expense.
The interest expense can be assumed as a phenomenon wherein the expenses are related to a particular period of accounting, and as a result of the same, only the bills or notes that are payable within the period are recorded under this head in the books of accounts of the firm related thereto. Moreover, the interest expense is also related to the direct expenses and not the indirect ones.
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A 79-year old customer in the highest tax bracket with $1,000,000 to invest is risk averse. Which investment recommendation would be appropriate
The greatest advice is tax-free municipal bonds because this customer is in the highest tax bracket and looks to be rich having $1,000,000 to invest Tax compliance refers to policy.
actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national Around 3000–2800 BC, the first recorded taxes was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the form of work and can be either direct or indirect..
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What are the characteristics of free enterprise ?
Free enterprise is an economic system that allows for the free market to allocate goods and services.
What traits characterize free enterprise?It is based on the voluntary exchange of goods and services for money, and it operates without government interference.Characteristics of free enterprise include: Private Property: Free enterprise usually involves private property, which allows the owner to determine how they want to use it.Competition: Free enterprise operates on the basis of competition, which encourages businesses to produce the highest quality goods and services at the lowest price possible.Consumer Sovereignty: Under free enterprise, consumers are the ultimate authority. They make purchasing decisions based on their preferences and are free to choose among competing products.Profit Motive: Profit is the primary incentive for businesses to produce. Companies seek to earn a return on their investments, which drives innovation and productivity.Limited Government Intervention: Free enterprise generally involves minimal government intervention, allowing businesses to make decisions without interference from external forces.Free enterprise is the basis of many economies, and it has the power to create wealth, drive innovation, and promote economic growth.It also provides consumers with more choices and encourages businesses to remain competitive.To learn more about the free enterprise refer to:
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At the end of every year you deposit $4,800 into an account that earns 8% interest per year. What will be the approximate balance in your account immediately after the 20th deposit
The amount is $219657.43 will be the approximate balance in your account immediately after the 20th deposit.
To find the future value we use following formula
FV=A[(1+r)" -1/r)
Where,
FV = Future Value OR Amount at time n
A = Regular Withdrawal Amount OR Regular Interest OR Regular Dividend OR Installment Amount
n = Number of period
r=Compound interest rate
Given: Number of periods/years (n) = 20
Rate of interest (r) -8%
Regular withdrawal (A)- $ 4800
After substituting the values into the formula we have,
[tex]FV= A(\frac{(1+r)"-1}{r} \\FV=4800+(\frac{1+0.08)20-1}{0.08} )FV = $219657.42863[/tex]
The future value of the annuity is $219657.42863.
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Ethics for the workplace are often defined by Group of answer choices professional organizations. religious groups. team meetings. other employees.
Workplace ethics is defined as a moral code that guides employee behavior in terms of right and wrong in behavior and decision-making.
Workplace ethics, also known as workplace ethics, are moral principles that companies use to determine appropriate or inappropriate behavior in the workplace. Workplace ethics affects everything from how a company operates to how employees behave in the workplace to protect the company's image.
Characteristics are:
Appearance, presence, demeanor, character, communication, cooperation, organization, productivity, respect and teamwork have been defined as critical to academic success and are listed below.
The Cambridge Dictionary defines business ethics as "the rules, principles, and standards that determine what is morally right and wrong in the workplace." Business ethics therefore refers to the implementation of good business practices and policies in the workplace.
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Jim holds a commercial lease. Last year his rent went up 4% based on a 4% increase in the wholesale price index. What type of lease does Jim have
Index Lease A sort of graded lease in which the periodic rent increase are related to rises in the consumer price index, or some other economic indicator.
An index lease links a rental rate to a generally recognized price index that takes cost of living fluctuations into account. This enables landlords to increase the rent anytime the lease is reevaluated, which normally occurs once a year, in line with developments in the economy. In contrast, a step lease requires periodic increases of a specific percentage regardless of the current cost of living. To avoid any misunderstanding, the contract for an index lease states which index will be utilized. A popular option is the Consumer Price Index (CPI), which represents the prices people actually pay for products and services in the economy. Depending on whether a lease is for a home or a business, additional indicators.
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Output Quantity Produced in 2019 Prices in 2019 Quantity Produced in 2020 Prices in 2020 Chocolate 15,000,000 bars $1.00 per bar 15,000,000 bars $1.75 per bar ________ 4. Refer to Table 2. Based on this information, we can conclude that the production of chocolate: A. increased both nominal and real GDP from the previous year. B. increased nominal GDP from the previous year, but real GDP was unaffected. C. increased real GDP from the previous year, but nominal GDP was unaffected. D. decreased nominal GDP from the previous year, but real GDP was unaffected. E. did not change either nominal or real GDP from the previous year. F. decreased both nominal and real GDP from the previous year.
The correct option is 2. The production is the same in both years but the price increased so the real GDP is unaffected by the nominal GDP increase from the previous year.
Gross home product (GDP) is a monetary degree of the market cost of all the final items and services produced and offered (no longer resold) in a particular term by way of nations. due to its complex and subjective nature, this measure is frequently revised before being taken into consideration as a reliable indicator. GDP (nominal) per capita does now not, but, reflects differences in the price of residing and the inflation costs of the nations; therefore, the usage of a basis of GDP per capita at purchasing energy parity (PPP) can be extra useful while evaluating residing requirements among nations, while nominal GDP is more beneficial evaluating national economies at the global market.
Overall GDP can also be damaged down to the contribution of every enterprise or quarter of the financial system. The ratio of GDP to the full populace of the place is the in keeping with capita GDP (also referred to as the suggest fashionable of dwelling).
GDP definitions are maintained by some countrywide and worldwide financial organizations. The agency for monetary Co-operation and improvement (OECD) defines GDP as "a mixture degree of production equal to the sum of the gross values brought of all resident and institutional devices engaged in production and services (plus any taxes, and minus any subsidies, on products now not included in the fee in their outputs)".
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There are two basic kinds of credit cards. The typical credit card is based on a/an [ Select ] that is set by [ Select ] , and it is linked to your [ Select ] or personal request. The second kind of credit card is a [ Select ] and it is more like a [ Select ] because it is directly tied to a checking or savings account. All limits for this card are based on your [ Select ] instead of an approved limit.
Debit cards typically pull funds from a checking account, while credit cards charge purchases using a line of credit.
What type of credit is a credit card an example of?A credit card generally operates as a substitute for cash or a check and most often provides an unsecured revolving line of credit. The borrower is required to pay at least part of the card's outstanding balance each billing cycle, depending on the terms as set forth in the cardholder agreement.credit limitthe sponsoring financial institutioncredit ratingsecured carddebit cardaccount balanceA financial sponsor is a private-equity investment firm, particularly a private equity firm that engages in leveraged buyout transactions.A credit rating is a quantified assessment of the creditworthiness of a borrower in general terms or with respect to a financial obligation. Unlike a prepaid card, a secured card is an actual credit card that reports to the three major credit bureaus—providing the opportunity to build your credit, with responsible use.When you open a checking account at a bank or credit union, you usually get a debit card. A debit card lets you spend money from your checking account without writing a check. When you pay with a debit card, the money comes out of your checking account immediately.An account balance represents the available funds, or current account value, of a particular financial account, such as a checking, savings, or investment account.
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A state in which a mortgage that can be foreclosed is the preferred method of security for a home loan is called a
A lien theory state is one in which a foreclosed mortgage is the preferred means of collateral for a house loan. Thus, the lien theory state is the correct answer.
What is the state of lien theory?According to the lien theory, the borrower owns the property. A Mortgage, rather than a Deed of Trust, is registered in the public record and serves as a lien against the property until the loan is paid off. A mortgage gives a homeowner both legal and equitable title.
Leroy's home is in New York, which follows the lien principle. As a result, he can claim ownership of the house upon purchase. Leroy signed a mortgage to make this possible. The mortgage is an arrangement between Leroy (the mortgagor) and the bank or creditor (mortgagee) to get a loan to buy the property. As a security interest in the title, the mortgagor delivers this mortgage to the mortgagee. This arrangement secures the lender's rights and grants the borrower the right to keep the residence until the loan is fully paid.
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Which of the following stakeholder groups does not engage in regular transactions with a company?
a. Customers b. Local communities c. Special interest groups d. Governments
The stakeholder group that do not engage in regular transactions with a company is option D. Government
What is Government?Government refers to the organization and administration of the affairs of a community, society, or state. It typically involves the creation and enforcement of laws, the provision of public services, and the protection of citizens' rights and interests. Governments can take many forms, including democracies, dictatorships, monarchies, and federations, and can vary in their scope and level of power.
Therefore, the correct answer is as given above
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the alternative minimum tax base is typically ______ the regular income tax base.
The alternative minimum tax (AMT) base is typically lower than the regular income tax base.
This is because the AMT is designed to prevent taxpayers from using deductions and credits to avoid paying their fair share of taxes. The AMT eliminates many of these deductions and credits and calculates tax on a much narrower base, resulting in a higher tax rate.
For example, some deductions are associated with state and local taxes, medical expenses, investment expenses, and certain other items are not allowed for the AMT. This means that these items are not deductible when calculating the alternative minimum tax(AMT).
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When a lender is required to foreclose on a deed of trust, the lender does not have to go through the courts to foreclose if the deed of trust contains a power of sale clause. This kind of foreclosure is known as
If indeed the deed of trust has a power to sale clause, the lender may foreclose without going through the courts. Non-judicial foreclosure is the term used to describe this sort of foreclosure.
What is involved in a non-judicial foreclosure?A non-judicial foreclosure, commonly referred to as a "foreclosure by power of sale," occurs when the process of foreclosure is carried out without the involvement of a court. A lender may instead sell the lender's property through a non-judicial foreclosure in order to recoup any financial losses, such as skipped mortgage payments.
How may one prevent a non-judicial foreclosure?One must file a lawsuit in a non - judicial foreclosure foreclosure in order to have your day in court. A motion for just a temporary stay (TRO) and judge's order should be filed along with this action in order to enjoin (halt) a foreclosures sale while your arguments are being debated in court.
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An investment that generates a series of uniform and equal cash amounts is referred as
A. net present value.
B. future value.
C. cash flow.
D. an annuity.
(D) an annuity. is correct. An investment that generates a series of uniform and equal cash amounts is referred as an annuity.
Given a specific rate of return, or discount rate, the present value of an annuity is the current value of the future payments from an annuity. The present value of the annuity decreases as the discount rate increases.The time value of money, which states that a dollar today is significantly more "valuable" in terms of its purchasing power than a dollar in the future, is the basis for the crucial calculation known as present value .The worth of a series of recurrent payments at a specific future date, assuming a specific rate of return, or discount rate, is the future value of an annuity. The future value of the annuity increases with the discount rate.
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Why is it important for consumers to compare?
Consumers compare brands, products, and product classes to allocate their budgets. They compare particulars on price and the mileage they anticipate to decide from the particulars' features.
It's especially salutary when buying precious particulars, particulars you buy frequently, or particulars where the product quality or price varies greatly. Through announcements, registers, and online quests, comparison shopping is easy and can save you, plutocrats.
Consumers compare brands for shopping is the only way to familiarize themselves with the stylish available interest rates, know how important analogous homes and buses are dealing for and ensure they pay as little as possible on your big expenditure.
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PPE stands for __________________ and is specialized clothing or equipment, worn by an employee for protection against infectious materials.
PPE, or personal protective equipment, refers to specialized clothing or other items that employees wear to protect themselves against infectious materials.
What do PPE's five examples mean?Wearing personal protection equipment, also referred to as "PPE," can assist lower risk exposure. PPE includes items like gloves, foot and eye protection, protected hearing devices (earplugs, muffs), hard helmets, respirators, and full body suits.
How come PPE is used?PPE acts as a barrier between your skin, mouth, nose, and eyes and infectious agents including bacteria and viruses when worn properly (mucous membranes). The barrier may stop the transmission of contaminants from blood, body fluids, or respiratory secretions.
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Select the TWO False statements about Requirements to Obtain Funding.
A - Lenders do not require owners to identify the purpose of the loan.
B - Equity financing requires a business owner to give up control of the business to obtain funding.
C - The business owner's personal credit score does not affect their ability to qualify for a loan.
D - Bootstrapping requires the owner(s) of the company to provide all of the funding.
The two false statements are Lenders do not require owners to identify the purpose of the loan & Equity financing requires a business owner to give up control of the business to obtain funding. The correct option is (A & B).
What do you mean by funding?To establish and maintain a business, you need funding. It is a monetary investment made in a business for inventory, office space, sales & marketing, product development, manufacturing, and expansion.
Before approving your application, commercial lenders may check both your personal credit score and your corporate credit score. If you have bad credit personally and are unsure how it will impact whether your commercial loan application will be approved or the terms of the loan.
Therefore, the two false statements are Lenders do not require owners to identify the purpose of the loan & Equity financing requires a business owner to give up control of the business to obtain funding.
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A farmer wants to net at least $10,000/acre on the sale of his 80-acre property. If he allows for a total of 10% for commissions and closing costs, what should his listing price be per acre
A farmer hopes to make at least $10,000 per acre when he sells his 80-acre plot of land. His listing price per acre ought to be $11,111 if he budgets a whole of 10% for commission and settlement costs.
What do you mean by listing price?
The price at which a product's maker ostensibly suggests that a retailer sell it is referred to as the list price, also called as the company's suggested price (MSRP), suggested retail price (RRP), or suggested retail price (SRP), of a product. As they permit prices to be raised higher than those that would be determined by supply and demand, suggested pricing schemes can be in opposition with competition theory. Beyond simply proposing prices, resale price maintenance—fixing prices—is prohibited in many nations. Depending on the real wholesale rate of each item, which is typically obtained in bulk from the maker or in smaller amounts through a distributor, retailers may charge lower than the recommended retail price.
10,000 x 80 = 800,000
100% - 10% = 90%
800,000/.90 = 888,888.89
888,888.89/80 = 11,111
So, The required answer is $11,111.
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Fast Bean sells coffee to Federico to brew and drink at home. This is an example of business-to-Blank______ marketing
Fast Bean sells coffee to Federico to brew and drink at home. This is an example of business-to-Blank vendor marketing.
Opting for marketing merchandisers is an important part of marketing because many companies have the coffers to complete every design in-house. For illustration, you may need a seller's moxie and coffers too.
Write, design or produce deals literature, advertisements or other creative accouterments. A company or an existent that sells a good or service is a seller. Marketing Merchandisers may vend to other businesses, or they may be retailers who vend straight to consumers. An illustration of a seller is a company that provides force for exchange apparel stores.
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Each of the following items is accurately defined under FICA as taxable wages except:
a. value of meals furnished employees for the employer's convenience.
b. value of meals furnished employees for the employees' convenience.
c. commissions.
d. dismissal pay.
All of the following are correctly classified as taxable earnings under FICA, with the exception of the value of meals provided to employees for the employer's convenience. Hence the correct option is (a) value of meals furnished employees for the employer's convenience.
All of the following employment categories are not covered by FICA, with the exception of federal government secretaries employed after 1990.
The Social Security tax (old-age, survivors, and disability insurance) and the Medicare tax (hospital insurance) together make up the FICA tax, which is levied on both employers and employees.
Pays made upon the worker's passing. wages given to a worker who is disabled after becoming eligible for Social Security disability payments. reimbursements for employee expenses for regular mileage or per diems up to the applicable government rate.
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You own a construction business and need to hire workers to build a house and add one worker at a time to the added contribution of each worker. At what point will you stop hiring workers ? Relate this process to the three stages of production function as you explain your answer .
which of the following definitions best describes a business cycle
Activity that alternatives periods of growth and decline in an economic's GDP.
Business cycles represent the rise and fall of economic activity relative to LT growth trends.
Sandy, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees the mid-level managers will supervise. Which function of management is Sandy performing?
The function of management is Sandy performing is Organising. Thus the correct option is B.
What is a manager?A manager is a person who oversees a project and is accountable for allocating resources, monitoring the project's development, and ensuring that it is completed on schedule in order to fulfill the organization's mission and goals.
Creating an institutional framework and assigning resources to enable the achievement of goals is a part of the management function known as organizing.
Since it makes it easier to manage and run the organization, the organization is crucial. Among other things, it entails delegating authority, allocating tasks, and categorizing those duties into department.
Therefore, option B is appropriate.
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The missing option probably is
planning
organising
supervising
controlling
_submission=Chkim
How much can Justin spend in turning his paychecks into cash over his
career?
2 points
$40,000
$800
$25,000
At what age was Justin on his own?
2 points
Over the course of his employment, Justin has spent $40,000 of his salary in cash. Check into Cash, which cashes checks.
How long is a paycheck good to cash?Checks for personal, business, and payroll are valid for six months (180 days). On the checks issued by some companies, "invalid after 90 days" is preprinted. The pre-printed phrase is intended to urge individuals to deposit or cash a check as quickly as possible. Most banks will honour those checks for up to 180 days.
Without a bank account, you can still cash a check by taking it to the bank that issued it or a check cashing business. When someone receives a check, most people either deposit it into their bank account, cash it at their bank, or present their identification and cash the check at the bank that issued it. Pay to the Order of and the name of the third party should be written below your signature.
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What is the major problem of economics and why do we have such problem?
The conundrum of limited resources and insatiable wants is the core issue in economics. Additionally, economics has demonstrated that a man's requirements cannot be met. As more of our requirements are met over time, we gradually create greater wants.
The social science of economics deals with the creation, exchange, and consumption of products and services. Economics is the study of how economies work as well as the behavior and interactions of economic actors. The study of microeconomics focuses on what are thought to be the fundamental components of the economy, such as the interactions that result from market and agent activity. Individual agents can represent a variety of clients, including homes, companies, buyers, and sellers. The study of the economy as a coexisting system of production, consumption, saving, and investment is known as macroeconomics. Additionally, it looks at the elements that have an impact on this system, including the use of labor, capital, and natural resources, currency inflation, economic expansion, and public policies .
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George will deposit $2,000 in a savings account at the beginning of each year for 8 years. Assuming the interest rate is 5%, how much money will George have in the acc
George will have $20,053 in the account at the end of year 8 if he deposits $2,000 in a savings account at the beginning of each year for 8 years with 5% as the interest rate.
Give a brief account on savings account.At a retail bank, a savings account is a checking account. Common characteristics include a cap on withdrawals, a lack of check and connected debit card facilities, a lack of transfer alternatives, and a prohibition on going overdrawn. Bank statements were not supplied for savings account activities in the past, which were typically kept in a passbook and sometimes referred to as passbook savings accounts. Nowadays, these transactions are typically kept electronically and are available online. For a variety of reasons, including a secure location to keep their cash, people deposit money into savings accounts. Interest is typically paid on savings accounts as well, and practically all of them build up compound interest over time.
To solve the question :
Money in account at the end of year 8 :
= (Deposited amount × FVAD)
= $2,000 x 10.0266 (factor at 5% for 8 periods)
(FVAD = the future value of annuity due)
= $20,053
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The complete question is mentioned below :
George will deposit $2,000 in a savings account at the beginning of each year for 8 years. Assuming the interest rate is 5%, how much money will George have in the account at the end of year 8? Round your answer to the nearest dollar.
Question Mode Multiple Choice Question What will happen to a bond's time to maturity as the years go by
The duration until a bond matures determines how long the owner will continue to receive payments on their investment. The principal is reimbursed when the bond matures.
How does investment work?Making an investment entails using money now in the hopes that it will appreciate later. An investment is putting capital to use, such as work, money, effort, etc., with the hope of receiving a larger return than what was initially invested.
How do investments function?The simplest way to understand how investing works is to acquire an asset for a low price and then sell it for a higher price. This type of investment return is referred to as a capital gain. generating income by reselling assets in a profitable manner.
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What is free enterprise examples ?
Examples of free enterprise include an individual beginning an online business or a private restaurant chain that is run without the involvement of the government.
What is free enterprise in simple terms?In a free enterprise or free market economy, private individuals can establish businesses and engage in competitive market buying and selling with the least amount of interference from the government. Resource, product, and financial markets are the three different forms of free enterprise markets. Because it enables individuals to focus on their strengths while trading for the rest, free enterprise works. Free enterprise is fueled by competition, which leads to higher productivity and reduced costs for the consumer.
The standard of living is higher in nations that support free markets. economic liberty, willing (voluntary) transaction, private property rights, the desire for profit, and competition. The right to private property, competition, profits as an incentive, and consumer sovereignty are the five main tenets of the free enterprise economic system that governs the United States.
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Shantel just wrote a check for a bill that was entered in the Enter Bills window. What should she do to correct her mistake?
Shantel just wrote a check for a bill that was entered in the Enter Bills window. The mistake she should to make correct void the check and enter the payment through the pay Bills window.
The payment is the transaction of money and also defined as the transfer of goods or services. A payment can be made in the form of cash, check, wire transfer, credit card, or debit card.
The Enter bill window is the best suitable for the small and medium sized business. The most common billing mistakes to take care of committed by a large number of sellers despite the consequences.
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