Question
In: Finance
You're prepared to make monthly payments of $380, beginning at the end of this month, into...
|
You're prepared to make monthly payments of $380, beginning at the end of this month, into an account that pays 8 percent interest compounded monthly. |
|
How many payments will you have made when your account balance
reaches $22,992? |
Multiple Choice
-
56.1
-
45.9
-
51
-
22.93
-
4.4
Solutions
Expert Solution
correct answer is 51 months
in the above formula 1 indicates payment
at the begining of the month
jeff jeffy answered 2 years agoRelated Solutions
You're prepared to make monthly payments of $390, beginning at the end of this month, into...
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You’re prepared to make monthly payments of $270, beginning at the end of this month, into...
You’re prepared to make monthly payments of $270, beginning at
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32.16.)
Monthly information is as follows: Beginning of month End of month
Monthly information is as
follows:
Beginning of month End
of month
Work in
process Inventory:
1,000 units 4,000
units
Conversion: degree of completion in WIP
60%
40%
Direct
Material Costs in Beginning WIP
$ 8,100
?
Conversion Costs in Beginning
WIP
$11,300
?
During the month: Costs incurred
for Direct Materials
$27,975
Costs incurred for Conversion
$27,235
At month
end:
2,860 good units were completed, 140 units...
Monthly information is as follows: Beginning of month End of month
Monthly information is as
follows:
Beginning of month End
of month
Work in
process Inventory:
1,000 units 4,000
units
Conversion: degree of completion in WIP
60%
40%
Direct
Material Costs in Beginning WIP
$ 8,100
?
Conversion Costs in Beginning
WIP
$11,300
?
During the month: Costs incurred
for Direct Materials
$27,975
Costs incurred for Conversion
$27,235
At month
end:
2,860 good units were...
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