# Ruth wants to set aside funds to take an around the world cruise in 4 years. Ruth expects that she will need \$25500 for her dream vacation. If she is able to earn 9% per annum on an investment, how much will she have to set aside today so that she will have sufficient funds available?

Amount invested (P) = \$18,065 (Approx)

Explanation:

Given:

Total amount need (A) = \$25,500

Number of year (n) = 4

Rate of interest (r) = 9% = 0.09

Find:

Amount invested (P)

Computation:

A = P(1+r)ⁿ

25,500 = P(1+0.09)⁴

25,500 = P(1.41158161)

P = 18,064.8429

Amount invested (P) = \$18,065 (Approx)

## Related Questions

The Work-in-Process inventory account of a manufacturing firm shows a balance of \$4,090 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of \$570 and \$370 for materials, and charges of \$600 and \$800 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of: Multiple Choice 43%.

125%

Explanation:

The computation of predetermined overhead rate is shown below:-

Manufacturing overhead = \$4,090 - (\$570 + \$370 + \$600 + \$800)

= \$4,090 - \$2,340

= \$1,750

Total direct labor = \$600 + \$800

= \$1,400

Manufacturing overhead = Predetermined overhead rate × Direct labor

Predetermined overhead rate = Manufacturing overhead ÷ Direct labor

= \$1,750 ÷ \$1,400

= 125%

Therefore for computing the predetermined overhead rate we simply divide the manufacturing overhead by direct labor.

What is an example of a secured credit?

An example of a secured credit is home mortgage or a car loan.

Credit refers to the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

When any loan is secured, the lender has established a lien against an asset that belongs to the borrower. With mortgages and car loans, the house or car can be seized and liquidated by the lender in the event of default.

Therefore, one example of a secured credit is home mortgage or a car loan.

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Explanation:

A common example of a secured line of credit is a home mortgage or a car loan. When any loan is secured, the lender has established a lien against an asset that belongs to the borrower. With mortgages and car loans, the house or car can be seized and liquidated by the lender in the event of default.

Which of these statements about corporate bonds is correct?

Option A is the right answer.

Explanation:

Bonds seems to be debt security during which the lender is obliged to pay compensation at regular time intervals as well as pay the money back the balance of the shareholder at intellectual ability.

• Option B: The raising of new bonds diminishes underlying ownership within the company. Incorrect issuance of new equities diminishes the company's current ownership.
• Option C: Debenture bonds attached leverage on the assets guaranteed. Incorrect debentures represent short term loans.
• Option D: Bonds focuses on providing funding for equities. Incorrect since debt funding is provided by Bonds.

So that alternative A would be the appropriate choice.

Bonds are like IOUS with a promise to repay the amount borrowed, with interest, on a certain date. Thus, option A is correct.

Bonds appear to be a type of financial instrument where the lender is required to provide periodical payments of compensation as well as to reimburse the shareholder for their remaining amount at the investor's intellectual discretion.

An Iou-like financial obligation is a bond. By purchasing corporate bonds, investors are making a loan to the corporation issuing the connection.  Bonds usually provide investors with a fixed rate of interest that is paid over a specified period of time at periodic times. In general, bonds are a less risky investment. Therefore, option A is correct.

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A debt service fund of Clifton received \$100,000 from its general fund during the fiscal year ended June 30, 20X9. The cash was used to pay matured interest on Clifton's general obligation bonds, which were issued to finance construction of a new municipal building. On the statement of revenues, expenditures, and changes in fund balance prepared for the debt service fund for the year ended June 30, 20X9, the amount received from the general fund should be reported as:_____________. A. revenue.
B. a reduction of expenditures.
C.another financing source.
D. matured interest payments.

Answer: C. Another Financing source

Explanation:

The fund was received for the purpose of debt service. Debt service means repayment of loans. The funds were utilized for debt servicing. Hence, the amount should be reported as another financing source.

The objective of the funds was to repay loans and the amount was received for repayment. This amount was used to finance their debt service. So it was a financing source for the company.

Need help asap worth 65 points! Upload your three-page paper that includes the following:
• a description of the career
• the history of this career: When was it created? What resources does it use? Was there new technology or
innovation involved?
• the training necessary for the career
• information about why the career interests you

This is an overview of each section of the selected career which is medicine, and one can then expand on those points to create one's paper.

### What informs the career in medicine?

1. Description of the Career - Medicine: Medicine is a field focused on diagnosing, treating, and preventing illnesses in humans. Medical professionals, such as doctors and surgeons, work to improve patients' health and well-being through various methods, including medication, surgery, and preventive care.

2. History of the Career - Creation, Resources, and Innovation: The practice of medicine dates back to ancient civilizations, with the earliest records found in ancient Egypt and Mesopotamia. Throughout history, medicine has evolved significantly, especially during the Renaissance when scientific advancements contributed to a better understanding of anatomy and diseases. Resources used in medicine include medical instruments, drugs, and diagnostic tools. Innovations like the stethoscope, X-rays, and recent advancements in telemedicine have revolutionized patient care.

3. Training Necessary for the Career: Becoming a medical professional requires extensive education and training. It typically involves completing a bachelor's degree, followed by medical school. Medical school includes classroom learning, hands-on clinical experience, and rotations in various specialties. After medical school, aspiring doctors undertake residency programs to gain practical skills in a specific field of medicine.

4. Why the Career Interests You: The opportunity to make a positive impact on people's lives and contribute to advancements in healthcare makes the field of medicine deeply intriguing. The constant evolution of medical knowledge and technology creates an environment of continuous learning and growth, which aligns with my passion for lifelong learning and helping others.

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Explanation:

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A small office building produces NOI of \$8,995 per year. We intend to buy the property, if the price is right, and hold it for four years. At that time (EOY 4) we believe we can sell the property for \$197,000. If we require an 8% ROA, what is the most we should pay now for this investment?A. The NPV is negative, so reject the investment.
B. The NPV is positive, so invest.
C. The NPV is greater than the NOI, so invest.
D. The GPI is greater than the NOI, so invest.
E. The NPV is greater than the OPX, so invest.

Option B is correct.

The NPV is positive, so invest.

Explanation:

Year Cash Flow

0          -160000

1            8995

2             8995

3             8995

4           205995

\$13,512.46