On average a family with kids needs about4 batteries per month. A quality 4-pack disposablebattery sells for 1.3 OMR. A family is concernedabout environmental sustainability and theirhousehold budget. Therefore, they are thinking ofswitching to rechargeable batteries. 4-packrechargeable batteries are sold for 2.6 OMR. Thesebatteries have an average lifetime of 5 years. Thefamily also needs to invest in a charger that will costthem about 5.2 OMR. This family also plans to start anew business selling 4 rechargeable batteries plusthe charger as a kit. The price is going to be thesame as the cost of disposable batteries for 1 year. Ifthis family uses rechargeable batteries, how muchwill they spend on batteries plus the charger in 5?years

Given in the question: A Family with kids requires = 04 Batteries per month 4-Pack Disposable…

Answered: this family uses rechargeable…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Your parents will retire in 20 years and currently have $108,000 saved in a retirement account. They think they will be okay with $700,000 at retirement since your mom also has a pension and they should both get some money from Social Security. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? 7.02% 8.36% 8.97% 9.80% 10.31%.
Stephen and Blair are saving for their wedding. They need $25,000 in 4 years. They found a money market that earns 7.2% interest compounded semiannually. How much do Stephen and Blair need to invest? Round to the nearest dollar.
Peter and Amy Chambers have saved $4,500. They are accumulating funds for a down payment on a house. If they can invest these funds at 3% annual interest for 5 years, how much money will they have accumulated at the end of this five-year time-frame?
Manshukh
A mother wishes to put enough money in a fund today for her son to attend college starting in 10 years. How much money must she invest today at 5% ?interest to provide $15,000 per year for the 4 years
Linda wants to buy a new car in a few years. She sets a goal to have $43,950 in her savings account to buy a car. Linda plans to save money for 5 years by making monthly deposits to a saving account at APR 2.5% compounded monthly. Round answer to two decimal places a. In order for Linda to reach her saving goal. How much will Linda need to save each money b. Overall Linda contributed how much of her own money into saving account?
Amanda and Zack are saving for their first child. They know he/she will be expensive and would like an extra $5000 in the bank when the baby comes. Amanda and Zack are not planning to have a baby for at least 3 years. They found a savings account that will earn 4.7% interest compounded quarterly. How much money should they invest to be financially prepared for their first child? Round to the nearest dollar.
Ashley has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so she has started saving for it. At the end of each year, she deposits $1,060 in her bank account, which pays her 7% interest annually. Ashley wants to keep saving for two years and then buy the newest LCD model that is available. Ashley’s savings are an example of an annuity. How much money will Ashley have to buy a new LCD TV at the end of two years? $2,194.20 $1,865.07 $2,347.79 $1,916.50 If Ashley deposits the money at the beginning of every year and everything else remains the same, she will save by the end of two years.
You have an older borther who plans to marry his long time gf after 6 years. The couple estimated that they need P 1 000 000 for their wedding 6 yearsrs from now. They plan to save the same amount of money each year starting the end of this year in order to cover the wedding expenses. If they can invest their money in an instrument thay yields 5% annually how much do they need to save every year?
A couple decided on the following saving plan for their newborn child 0 years old. Each quarter after the child is born, they will deposit $2,125 into a savings account paying 7.35% interest compounded quarterly. How much money will be in the account when the child turns 18? Hint: Total of 18 years. Round answer to nearest cent.
a) How much should you save per month to be able to buy the car when you retire? b) How much should you save per month to be able to buy the house at the age of 55? c) Therefore, how much do you need to save in TOTAL per month if you can earn 12% compounded monthly from now till you buy your house taking into account your retirement expenses? d) And how much do you need to save in TOTAL per month after you buy your house until you retire taking into account your retirement expenses?

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this family uses rechargeable batteries, how much will they spend on batteries plus the charger in 5 ?years