Your grandpa doesn't trust "young 'uns" so you are set to inherit a $1,000,000 trust fund on your 50th birthday. Your Grandpa also doesn't like banks so he has buried the cash somewhere on his 40-acre farm in a location that will be revealed to you by his lawyer since Grandpa will not be around when you turn 50. If you could possibly get your hands on it now (when you are 20), you could put it in a bank at 6% annual interest. If you were able to dig up the money now, how much would you have when you turn 50?

Answers

Answer 1

Answer:

FV= $5,743,491.17

Explanation:

Giving the following information:

Present value (PV)= $1,000,000

Number of periods (n)= 30 years

Annual interest= 6% = 0.06

To calculate the future value (FV), we need to use the following formula:

FV= PV*(1+i)^n

FV= 1,000,000*(1.06^30)

FV= $5,743,491.17


Related Questions

The specific The specific identification inventory costing method: Select one: A. Measures the ending inventory at the actual prices of the specific units sold during the period B. Is more appropriate for a firm selling construction equipment than for a firm selling greeting cards C. Is not a generally accepted method of pricing inventories D. Uses expected future acquisition costs rather than historical costs to measure the ending inventoryinventory costing method:

Answers

Answer:

A. Measures the ending inventory at the actual prices of the specific units sold during the period

Explanation:

The Specific identification inventory costing method is a strategy of getting the actual ending inventory cost. To get this cost requires the deliberate manual calculation of each of the remaining commodities brought on certain dates, at year-end inventory. The number gotten is then multiplied by their actual cost of purchase date. The result is then taken as the ending inventory cost.

Consequently, the purpose is to allocates the specific cost of each inventory item to cost of goods sold.

Hence, in this case, the correct answer is option A. Measures the ending inventory at the actual prices of the specific units sold during the period.

A double-entry accounting system is an accounting system: Multiple Choice That records each transaction twice. That records the effect of each transaction in at least two accounts with equal debits and credits. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. That allows total credits to be greater than total debits. That allows total debits to be greater than total credits.

Answers

Answer:

That records the effect of each transaction in at least two accounts with equal debits and credits.

Explanation:

A double-entry accounting system is the accounting system in which it shows the impact of each transaction in terms of debit and credit. In this the amount of credit should be equivalent to the amount of credit that means both the amount should be equivalent to each other

hence, the second option is correct and the same is to be considered

is the price of a movie ticket likely to go up or down why?

Answers

Answer:

Down

Explanation:

Because they want more people to watch

Rust Pipe Co. was established in 1994. Four years later the company went public. At that time, Robert Rust, the original owner, decided to establish two classes of stock. The first represents Class A founders' stock and is entitled to twelve votes per share. The normally traded common stock, designated as Class B, is entitled to one vote per share. In late 2010, Mr. Stone, an investor, was considering purchasing shares in Rust Pipe Co. While he knew the existence of founders’ shares were not often present in other companies, he decided to buy the shares anyway because of a new technology Rust Pipe had developed to improve the flow of liquids through pipes. Of the 1,900,000 total shares currently outstanding, the original founder's family owns 52,725 shares. What is the percentage of the founder's family votes to Class B votes? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

Answers

Answer:

34.25%

Explanation:

Votes per share = 12

Shares owned = 52725

Now we are to calculate the total value of the total number of of votes

Total votes = votes per share * shares owned

= 12*52725

Total = 632700

Value of votes of class B

Total shares outstanding - founders family shares

= 1900000 - 52725

= 1847275

The question requires us to calculate percentage of the founder's family votes to Class B votes

632700/1847275

= 0.3425

= 34.25%

Westbank Real Estate, Inc. owns 10 acres of forested land. Westbank wants the land cleared in order to build houses. Westbank emails a signed electronic memorandum to a representative of Hardell Lumber Co. offering to sell the mature trees and rich topsoil to Hardell for lumber and agricultural purposes. The electronic memorandum includes the parties' typed names, the consideration, the price, and a description of the property, lumber, and soil. Hardell replies via email to Westbank that it accepts Westbank's terms, electronically signs the memorandum, and will start removing the trees and soil next month. Before Hardell can begin clearing the land, Westbank changes its mind, wants to keep the land forested, and prevents Hardell from accessing the property claiming no contract has been formed.
2. Does the electronic agreement for the sale of trees and soil fall under the statute of frauds? (YES / NO)
3. Under which category? (CONTRACTS INVOLVING LAND/ CONTRACTS THAT BY THEIR TERMS CANNOT BE PREFORMED IN LESS THAN A YEAR AFTER THE DATE OF AGREEMENT/ A PROMISE TO ANSWER FOR A DEBT OF ANOTHER/ A PROMISE MADE IN CONSIDERATION OF MARRIAGE/ CONTRACTS FOR THE SALE OF GOODS OVER $500)
4. An electronic memorandum (DOES/ DOES NOT) satisfy the writing requirements for the Statute of Frauds.
5. Land is considered to be (REAL PROPERTY/ PERSONAL PROPERTY)
6. The definition of land includes (NO/ SOME/ ALL) physical objects that are permanently attached to the property.
7. Examples of physical objects that constitute land for purposes of the statute of frauds include (BUILDINGS/ FENCES/ TREES/ SOIL/ ALL OF THESE)
8. A written or electronic memorandum evidencing a contract will suffice provided that the writing is signed by (THE PERSON WHO IS ENFORCING THE CONTRACT/ THE PERSON AGAINST WHOM THE CONTRACT IS BEING ENFORCED)
9. Who signed the e-mails? (WESTBANK REAL ESTATE/ HARDELL LUMBER/ BOTH PARTIES)
10. What type of signature must be on an e-mail in order to enforce an electronic record? (A TYPED NAME/ AN OFFICIAL SIGNATURE/ A NOTARIZED SIGNATURE/ AN ENCRYPTED SIGNATURE)
11. Does the electronic memorandum have the parties' typed names? (YES/ NO)
12. Does the electronic memorandum describe the property involved?(YES/ NO)
13. Is it likely a court would find that the electronic memorandum satisfied the statue of frauds? (YES/ NO)
14. As a result, Hardell (WILL/ WILL NOT) likely be able to enforce the contract against Westbank.

Answers

Answer:

Westbank Real Estate, Inc. and Hardell Lumber Co.

2. Does the electronic agreement for the sale of trees and soil fall under the statute of frauds? (YES / NO)

3. Under which category? (CONTRACTS INVOLVING LAND/ CONTRACTS THAT BY THEIR TERMS CANNOT BE PERFORMED IN LESS THAN A YEAR AFTER THE DATE OF AGREEMENT/ A PROMISE TO ANSWER FOR A DEBT OF ANOTHER/ A PROMISE MADE IN CONSIDERATION OF MARRIAGE/ CONTRACTS FOR THE SALE OF GOODS OVER $500)

4. An electronic memorandum (DOES/ DOES NOT) satisfy the writing requirements for the Statute of Frauds.

5. Land is considered to be (REAL PROPERTY/ PERSONAL PROPERTY)

6. The definition of land includes (NO/ SOME/ ALL) physical objects that are permanently attached to the property.

7. Examples of physical objects that constitute land for purposes of the statute of frauds include (BUILDINGS/ FENCES/ TREES/ SOIL/ ALL OF THESE)

8. A written or electronic memorandum evidencing a contract will suffice provided that the writing is signed by (THE PERSON WHO IS ENFORCING THE CONTRACT/ THE PERSON AGAINST WHOM THE CONTRACT IS BEING ENFORCED)

9. Who signed the emails? (WESTBANK REAL ESTATE/ HARDELL LUMBER/ BOTH PARTIES)

10. What type of signature must be on an email in order to enforce an electronic record? (A TYPED NAME/ AN OFFICIAL SIGNATURE/ A NOTARIZED SIGNATURE/ AN ENCRYPTED SIGNATURE)

11. Does the electronic memorandum have the parties' typed names? (YES/ NO)

12. Does the electronic memorandum describe the property involved?(YES/ NO)

13. Is it likely a court would find that the electronic memorandum satisfied the statute of frauds? (YES/ NO)

14. As a result, Hardell (WILL/ WILL NOT) likely be able to enforce the contract against Westbank.

Explanation:

The memoranda exchanged between Westbank Real Estate and Hardell Lumber Co provides the evidence of their oral contract. The statute of fraud covers most oral contracts, especially those involving real property or sale of land.  It is important to note that land includes all its permanent attachments.

Epiphany is an all-equity firm with an estimated market value of $400,000. The firm sells $275,000 of debt and uses the proceeds to purchase outstanding equity. Compute the weight in equity and the weight in debt after the proposed financing and repurchase of equity. Group of answer choices 0.31, 0.69 0.34, 0.66 0.48, 0.52 0.69, 0.31

Answers

Answer:

Epiphany

Weight in equity = 0.31

Weight in debt = 0.69

Explanation:

a) Data and Calculations:

Estimated market value of equity = $400,000

Debts = $275,000

Net equity after debt = $125,000

Weight in equity = $125,000/$400,000 = 0.31

Weight in debt = $275,000/$400,000 = 0.69

b) The weight in equity shows the relationship between the equity and the total capital (equity and debt) in use in Epiphany after the sale of debt and repurchase of outstanding equity.

c) The weight in debt shows the relationship between the debt capital and the total capital (equity and debt) in use in Epiphany after the sale of debt and repurchase of outstanding equity.

Your boss wants to purchase a graphics design application to be distributed to approximately 40 users in the company. Although the vendor says the application has broad OS support, your boss wants to be sure it will work on the five different OSs running on the company’s user workstations. He wants you to verify compatibility by using evaluation copies of the software without disrupting users or their computers. You have the installation disks for all five OSs your company uses, but you don’t have a lot of computers available to install the OSs. a. What’s your plan?

Answers

Explanation:

My plan is to use this same machine for testing more than one operating system available in more than one disk. Virtual machines can be run with more than one operating systems. Now this is the idea, firstly install the first operating system in a machine. After testing well enough, then reboot. Then install second operating system in same machine and also test. Follow this process for testing all the operating systems with the aid of installation disks without causing any Interference to the users in the company.

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