Question
A small retailer has sales of $118,598 and cost of goods sold of $68,070. The firm had ending balances in accounts payable of $14,491, accounts
A small retailer has sales of $118,598 and cost of goods sold of $68,070. The firm had ending balances in accounts payable of $14,491, accounts receivable of $11,502, and inventory of $13,684. What is the length of the days' sales in inventory? Assume a 365 day year. Round your answer to the nearest day.
Consider an investment that promised two cash flows: $19,965 in five years and $46,733 in six years. If the appropriate discount rate is 10 percent, what is the amount you would be willing to pay today for this investment? Report your answer to the nearest cent (e.g., 123.45)
Your client wants $1,239,765 by the time she retires at 65, which is 42 years from today. Assuming that she can invest the funds are a rate of 7 percent, compounded quarterly, what amount must be invested today?
Report your answer to the nearest cent (e.g., 123.45)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started