Business, 21.06.2021 16:50 quadyshia12370

Mary Kate, Ashley, Dakota, and Elle each want to buy a new home. Each needs to save enough to make a 20% down payment. For example, to buy a $100,000 home, a person would need to save $20,000. At the end of each year for five years, the women make the following investments: Person Annuity Payment Type of Account Expected Annual Return
Mary Kate $3,900 Savings 3%
Ashley 4,900 CDs 5
Dakota 5,900 Bonds 6
Elle 5,900 Stocks 12

Required:
What is the maximum amount each woman can spend on a home, assuming she uses her accumulated investment account to make a 20% down payment?

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 21:40

Torino company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $3,500 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

Answers: 2

Answer

Business, 22.06.2019 14:00

The following costs were incurred in may: direct materials $ 44,800 direct labor $ 29,000 manufacturing overhead $ 29,300 selling expenses $ 26,800 administrative expenses $ 37,100 conversion costs during the month totaled:

Answers: 2

Answer

Business, 22.06.2019 22:40

The year is 2278, and the starship enterprise is running low on dilithium crystals, which are used to regulate the matter-antimatter reactions that propel the ship across the universe. without the crystals, space-time travel is not possible. if there is only one known source of dilithium crystals, the necessary conditions for a monopoly are met. part 2 (1 point)see hint if the crystals are government owned or government regulated, and the government wants to create the greatest welfare for society, then it should set the price choose one or more: a. so only the rich can afford space-time travel. b. at the profit-maximizing price. c. at the efficient price. d. using the marginal-cost pricing rule. e. so everyone can afford space-time travel. f. at the monopoly price.

Answers: 1

Answer

Business, 23.06.2019 00:40

The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.

Answers: 3

Answer

You know the right answer?

Mary Kate, Ashley, Dakota, and Elle each want to buy a new home. Each needs to save enough to make a...

Questions