The Caldwell Herald newspaper reported the following story: Frank Ormsby of Caldwell is the state's newest millionaire. By choosing the six winning numbers on last week's state lottery, Mr. Ormsby has won the week's grand prize totaling $1.32 million. The State Lottery Commission has indicated that Mr. Ormsby will receive his prize in 20 annual installments of $66,000 each. Use Excel or a financial calculator to solve. Round answers to the nearest dollar. Required: 1. If Mr. Ormsby can invest money at a 8% rate of return, what is the present value of his winnings? Present Value

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: For the second question, were you able to show how that problem would be worked out?

A: The par value is stated in the corporate charter and the company cannot issue shares below the par…

Q: What are the steps to figure this out?

A: Journal: Recording of a business transactions in a chronological order.

Q: What does CAPM allow you to calculate?

A: CAPM model is basically the capital asset pricing model which helps us in determining the expected…

Q: Explain materiality , happens and why these are important? Explain with the help of example.

A: Materiality refers to the concept of determining whether a particular item, transaction, or…

Q: How would I complete this problem fully by hand?

A: Data given: Loan amount is $15,000 Nominal interest rate is 11% n= 1 year

Q: Why is a source document important? List some examples of source documents.

A: Source documents refers to the documents pertaining to a business transaction. It captures the key…

Q: Describe about the intuitive approach?

A: Supervisors regularly depend on models and intuition to make fast decisions. Intuitive decision…

Q: What would be the equasion for solving this

A: Formula for calculating yearly payment: Yearly payment=(Loan amount * Rate%)1-1(1+Rate%)n

Q: 1. Sona Manufacturing provided the following information for last month: 3. Sales Variable Costs…

A: There are two type of costs that are being incurred in business. One is fixed costs, which will not…

Q: Can you show steps on how you got the answers?

A: Workings:

Q: Where does the information on step one comes from?

A: The excess of an asset's expected investment return above the risk-free rate of return is known as…

Q: By chance, do you have the formulas that you used for each answer so i can study it more?

A: Formulae used:

Q: What is the actual formula used to get this answer?

A: Present value of annuity Annuity is a series of equal payments at equal interval over a specified…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Explain subsequent events and why these are important? Explain with the help of example.

A: Subsequent events refer to events or transactions that occur after the balance sheet date but before…

Q: What is the full form of ERP? Explain ERP with examples?

A: ERP means Enterprise Resource Planning, it is a process management software used by organizations to…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: What is the Baumol model, and how is it used?

A: The Baumol model, also known as the Baumol-Allais-Tobin (BAT) model, is a cash management model. In…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: Can you please do this problem using an equation.

A: Compound interest is nothing but interest on interest. That means interest is calculated on the…

Q: What is skimming?

A: Skimming: It is the fraudulent process under which the employees of the company steal the cash from…