In its most recent financial statements, ABC reported $58,883 million of net inc

Question

In its most recent financial statements, ABC reported $58,883 million of net income and $794,740 million of retained earnings. The previous retained earnings were 798,446 million. How much in dividends was paid to shareholders during the year?

You want to have $22,120 in cash to buy a car in 4 years. You expect to earn 10.8% per year on your savings. How much do you need to deposit today if this is the only money you save for this purpose?

If you put $270 in a savings account at the beginning of each year for 9 years, how much money will be in the account at the end of the 9th year? Assume that the interest rate is 14.

Explanation / Answer

Div Paid = Opening +Current income-closing

798446+58883-794740 =62589

B)

FV=22120

N=4

I/y 10.8

PV= 14676.62

C)PMT= 270

N=9

I/Y= 14

FV=PMT(1+R)^N

=4951.06

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.