A manufacturer of industrial grade gas handling equipment wants to have $500,000 in an equipment replacement contingency
Question:
A manufacturer of industrial grade gas handling equipment wants to have $500,000 in an equipment replacement contingency fund 10 years from now. If the company plans to deposit a uniform amount of money each year beginning now and continuing through year 10 (total of 11 deposits), what must be the size of each deposit? Assume the account grows at a rate of 10% per year.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
A 50000...View the full answer
Answered By
Deepak Pal
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students. Areas of interest: Business, accounting, Project management, sociology, technology, computers, English, linguistics, media, philosophy, political science, statistics, data science, Excel, psychology, art, history, health education, gender studies, cultural studies, ethics, religion. I am also decent with math(s) & Programming. If you have a project you think I can take on, please feel welcome to invite me, and I'm going to check it out!
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Kantrovitz Company is a manufacturer of industrial components. One of its products that is used as a subcomponent in appliance manufacturing is AP110. This product has the following information per...
-
Bravo Corporation, a manufacturer of industrial pumps, reports the following results for the year ending July 31, 2006: Retained earnings, August 1, 2005 ........$2,213,400 Net income...
-
Atlas Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 2014: Retained earnings, February 1, 2013 . . . . . . . . . . . . . . . . . ....
-
Let x be the number of magazines a person reads every week. Based on a sample survey of adults, the following probability distribution table was prepared. Find the mean and standard deviation of x. 0...
-
The following income statement data for AT&T Inc. and Verizon Communications Inc. were taken from their recent annual reports (in millions): a. Prepare a vertical analysis of the income statement for...
-
Evaluate the expression. 16 1/4
-
Circuit Board Systems (CBS) has the following data: Assets: $\$ 100,000$; Profit margin: $6.0 \%$; Tax rate: $4.0 \%$; Debt ratio: $40.0 \%$; Interest rate: 8.0\%: Total assets turnover: 3.0. What is...
-
The information below pertains to the retiree health care plan of Thompson Technologies: Thompson began funding the plan in 2011 with a contribution of $127,000 to the benefit fund at the end of the...
-
make 1 paragraph in the abstract below, with the journal name Optimizing the thermal management system of PCM fin-structured Li-ion batteries under mechanical vibration conditions: A comparative...
-
Create two operational definitions for each of the following psychological constructs. 1. Frustration 2. Cognitive dissonance 3. Anxiety 4. Sense of direction 5. Memory 6. Selfesteem
-
How much money would be accumulated 18 years from now from deposits of $15,000 per year for five consecutive years, starting 3 years from now, if the interest rate is 8% per year?
-
For the cash flows shown, find the future worth in (a) Year 5, (b) Year 4. Assume an i of 10% per year. 3 2 Year 5 0 0 3000 3000 3000 3000 Cash Flow, $
-
In Exercises 89102, determine whether each equation is true or false. Where possible, show work to support your conclusion. If the statement is false, make the necessary change(s) to produce a true...
-
Which statement is the most accurate? a) Because of the efforts of the Veterans Administration, only a handful of veterans are homeless. b) Most military families have to get by on food stamps and...
-
Which statement is the most accurate? a) Although there are poor children in the United States, our child poverty problem is not nearly as bad as that of most other rich countries. b) The reason so...
-
Which makes the most sense economically? (LO2) a) individual self-sufficiency b) national self-sufficiency c) national specialization d) none of the above
-
An American importer of Italian shoes would pay in ______. a) dollars b) gold c) euros d) lira
-
Our balance of trade ______. a) has always been positive b) turned negative in the mid-1970s c) turned negative in the mid-1980s d) has always been negative
-
Air containing 0.06% carbon dioxide is pumped into a room whose volume is 8000 ft 3 . The air is pumped inat a rate of 2000 ft 3 /min, and the circulated air is then pumped out at the same rate. If...
-
What is EBIT/eps analysis? What information does it provide managers?
-
An asset has a first cost of $45,000, a recovery period of 5 years, and a $3000 salvage value . Use the switching procedure from DDB to SL depreciation, and calculate the present worth of...
-
If B = $45,000, S = $3000, and n = 5-year recovery period, use a spreadsheet and i = 18% per year to maximize the present worth of depreciation, using the following methods: DDB-to-SL switching (this...
-
Hempstead Industries has a new milling machine with B = $110,000, n = 10 years, and S= $10,000. Determine the depreciation schedule and present worth of depreciation at i = 12% per year, using the...
-
Under what conditions would the National Building Code (N.B.C.) be used, as opposed to the Ontario Building Code (O.B.C.)?
-
Each month I have to lie on my expense report in order to get reimbursed for an honest business lunch," is example of?
-
Secondary Analysis: This week visit the Keizer Online Library and find a full-text article on secondary analysis in research. Find a full-text article, download it, highlight it, and upload it to the...
Study smarter with the SolutionInn App