The total amount of depletion recorded in inventory for Ceres Corporation in 2017 for the mineral mine amounts to $720,000, which is calculated based on the depletion rate per unit and the number of units sold.
Explanation:The subject of this question deals with the calculation of depletion for a mineral mine. Depletion is the allocation of the cost of natural resources over time. In this case, Ceres Corporation must determine the depletion cost to include in the inventory for the mineral units extracted but not necessarily all sold in 2017. To calculate depletion, we must first find the depletion per unit, which is done by subtracting the value of the land after minerals are removed from the acquisition cost and then dividing by the total estimated units. The acquisition cost of the mineral mine is $6,000,000, and the value of the land after mineral removal is $600,000, giving us $5,400,000 for the total mineral value to be depleted. With an estimated 9 million units extractable, the depletion per unit is $0.60.
During 2017, 1.8 million units were extracted. However, since depletion is included in the inventory, only the depletion corresponding to the units sold is factored. Since 1.2 million units were sold, the depletion expense to be recorded in inventory is 1.2 million units multiplied by $0.60 per unit, which equals $720,000.
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A certain organization trying to decide where to locate their future factory is considering three locations. they are taking into account three factors: labor costs, currency stability, and proximity to market. using the weights for each factor listed below and the scores achieved by each of the three considered locations, determine which location should be chosen for the new facility based on the weighted factory location model. scores (maximum 100) factor weight site a site b site c labor cost 0.30 90 80 80 currency stability 0.40 80 85 80 proximity to market 0.30 80 80 80 select one:
Answer:
Site A should be chosen for new facility based on weighted factory location model.
Explanation:
Factor Site A Site B Site C
Labor cost 27 24 24
Currency Stability 32 34 32
Proximity to market 24 24 24
83 82 80
Site A should be chosen for new facility based on weighted factory location model.
15. A market decline of 23% on a day when there is no significant macroeconomic event ______ consistent with the EMH because ________. a. would be, it was a clear response to macroeconomic news b. would be, it was not a clear response to macroeconomic news c. would not be, it was a clear response to macroeconomic news d. would not be, it was not a clear response to macroeconomic news e. None of these are correct.
Answer:Option c
Explanation:
Some of the macro economic event such as interest rates, unemployment, economic growth and inflation affects the stock markets . If any of these events occur then market has its effect on it. EMH is the efficient market hypothesis that the asset prices reflect the market situation.
When the macroeconomic event has not taken place but there is market decline then EMH is not consistent with the event or the macro economic news.Market prices also reflect due to the latest information if any.
Final answer:
A market decline of 23% on a day when there is no significant macroeconomic event would not be consistent with the EMH because it was not a clear response to macroeconomic news.
Explanation:
The correct answer is option d. A market decline of 23% on a day when there is no significant macroeconomic event would not be consistent with the EMH because it was not a clear response to macroeconomic news.
The Efficient Market Hypothesis (EMH) states that financial markets are efficient and that prices fully reflect all available information. According to the EMH, market prices should adjust quickly and accurately to new information. If the market decline of 23% was not a clear response to macroeconomic news, it suggests that the market was not efficiently incorporating all available information, therefore contradicting the EMH.
For example, if the decline was due to other factors like investor sentiment or technical trading patterns, it would indicate that the market was not behaving in a way that aligns with the EMH.
Which way of preparing for a test does not use the Growth Mindset?
I do better when I practice a lot, so I made flashcards a week before the test.
I know that I'm not great at tests, so I'm not going to worry about studying a lot.
I can do better than my last test, so I'm studying what I don't know yet.
I can always get better, so I went to an extra study session during lunch.
Answer: I know that I'm not great at tests, so I'm not going to worry about studying a lot.
Explanation:
The Growth Mindset is a principle that describes the mindset of believing that one can get better. It is the belief that your basic skills can be horned to be better by constantly working towards it.
The person in Option B who said that they won't study because they know they are not very good at tests does NOT have the growth mindset because they are not interested in improving themselves at all. They have made up their mind that they are not very good at something and so will just leave it as it is. This is called a FIXED MINDSET.
Find the compounded amount. Assume 3.5% interest compounded daily.$2,750 deposited June 12 and withdrawn August 30
Answer:
June is 30 days
30-12=18 days
July is 31 days
August is 30 days
Time=18+31+30=79 days
A=2,750×(1+0.035÷365)^(79)
A=2,770.91
Interest earned
I=A-p
I=2770.91-2750
I==20.91
The marginal cost of producing 40 units of a public good is $200. There are two individuals in the society. Person A is willing to pay $80 for 40 units of the public good. If 40 units of the public good are provided, how much must Person B be willing to pay?
Answer:
$120
Explanation:
Yes Person B must be willing to pay an amount that would cover the marginal cost of the product.
Remember, the marginal cost is the cost per unit of a product not the sales cost. Therefore, the total value paid should cover the marginal cost.
Answer:
Person B must be willing to pay $120
Explanation:
Marginal cost = $200
Person A is willing to pay = $80
Marginal cost is the cost which a company incurred for producing one extra unit of goods.
If person A has paid $80, then person B must pay an amount that will cover up for the marginal cost the company incurred.
That mean person B will pay $120 ,
Meaning; $80 +$120 = $200
The shareholders’ equity of Tru Corporation includes $540,000 of $1 par common stock and $1,140,000 par of 7% cumulative preferred stock. The board of directors of Tru declared cash dividends of $144,000 in 2018 after paying $54,000 cash dividends in each of 2017 and 2016.
What is the amount of dividends common shareholders will receive in 2018?
Answer:
$12,600
Explanation:
Annual Dividend to preferred stock = $1,140,000 × 7%
= $79,800
A schedule of preferred stock dividend in Arrears is as follows :
Dividend Paid Arrears
2016 $79,800 $54,000 $25,800
2017 $79,800 $54,000 $51,600
2018 $79,800 $131,400 0
Dividends of $131,400 has to be paid in 2018 to cover all the arrears.
Principle : Preference dividends (and their arrears if cumulative) are paid first before dividends distribution to common stock holders.
Common Stock Holders receive the remaining amount of dividends of $12,600 ($144,000 - $131,400)
Commercial sports are most likely to grow and prosper in societies with
Answer: Capital, Good Market Economy and Massive Urban Centres
Explanation:
Commercial sports are most likely to grow and prosper in societies with enough capital because for every buying and selling process, capital must be involved to set up marketable products. So, a commercial sport would require capital to have nice viewing areas, infrastructure and manpower.
Also, sports is incomplete without a massive urban center. A society with massive urban centres has a profitable potential for commercializing its sporting activities.
Lastly, a society with a good market economy that has its investment and production decisions dependent on supply and demand is a good spot for commercial sports.
Answer: Commercial sports are most likely to grow and prosper in societies with very active and energized people .
When a firm incorporates more stages of the value chain and those stages bring the firm closer to the final customer, what is it engaging in? A. Value chain B. Forward vertical integration C. Backward vertical integration D. Corporate strategy E. Vertical integration
Answer:
c backward vertical integration.
Define what is a constant dividend payout ratio policy
Answer:
means payment of a fixed percentage of net earnings as dividends every year.
Explanation: The amount of dividend in such a policy fluctuates in direct proportion to the earnings of the company. The policy of constant pay-out is preferred by the firms because it is related to their ability to pay dividends.
A foreign company (whose sales will not affect benjamin's market) offers to buy 4,100 units at $7.61 per unit. in addition to variable manufacturing costs, selling these units would increase fixed overhead by $610 and selling and administrative costs by $310. if benjamin accepts the offer, its profits will:
conomists make use of assumptions, some of which are unrealistic, for the purpose of a. teaching economics to people who have never before studied economics. b. advancing their political agendas. c. developing models when the scientific method cannot be used. d. focusing their thinking.
Answer: (D) Focusing their thinking
Explanation:
According to the give question, the economist use the various types of assumptions for understanding the various types of managing the business in the competitive market environment.
The economist assumptions is basically helps in making various types of effective decisions that makes better understand their client and also customer in the economic model.
Some of the assumptions are also unrealistic for the main purpose of focusing their thinking ability as it helps in improving the thinking ability of the person so that they can make various types of effective decisions.
Therefore, Option (D) is correct answer.
Starbucks focuses on making coffee. By ________, they are faster, more consistent, and their production costs are lower than McDonald’s. Although they have an advantage in the coffee department, they fall well short of par in the food department.
Answer:
Specializing in making coffee
Explanation:
Starbucks is the company or business which is involved in making the coffees and having different variety or range of coffee served to the customers or client.
Specialist means that the business or the person who concentrates on the specific activity and having or posses high skill in the particular and restricted field.
So, Starbucks is the one who focus on the coffee making through specializing in the making of coffee, and they are faster as well as more consistent and their cost of production is also low than the McDonald.
Answer:
Specializing in making coffee
Explanation:
Starbucks focuses on making coffee. By Specializing in making coffee, they are faster, more consistent, and their production costs are lower than McDonald’s. Although they have an advantage in the coffee department, they fall well short of par in the food department.
Starbuck has a competitive advantage over other food chains as they are specialized in the task of making coffee and their workers is well trained in coffee department, however, McDonald has diversified their food chain and included many beverages and food item as their speciality apart from just selling burger, which helps them to grow. McDonald's restaurants can be viewed as a manufacturing operation. McDonald's wants each crew to be efficient and productive. The crews organize by dividing the labor into parts.
A competitive firm has been selling its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its
a. marginal revenue is lower than it was previously.
b. marginal cost is lower than it was previously.
c. quantity of output is higher than it was previously
d. All of the above are correct.
Answer:
a. marginal revenue is lower than it was previously.
Explanation:
According to the Law of Supply states, when the price of a product or service increases, all other factors are equal, the quantity of products or services offered by the suppliers increases, and vice versa. In other words, if a good price goes up, suppliers will try to increase their profits by offering more goods.so correct option is a. marginal revenue is lower than it was previously.
Final answer:
When the market price increases, a perfectly competitive firm's marginal revenue increases, prompting the firm to adjust output. The firm will increase production to where the new higher price equals marginal cost, usually resulting in a higher quantity of output than before. Option C
Explanation:
For a perfectly competitive firm, changes in the market price can significantly affect its profit-maximizing behavior. When the price at which the firm sells its output increases, the firm's marginal revenue (MR) also increases since MR in perfect competition is equal to the price of the product.
To maximize profits, the firm will adjust its output quantity to the point where this new higher price (increased MR) equals the marginal cost (MC) of production, which is the cost of producing one more unit. This usually results in higher production until MR equals MC again.
Given the scenario in the question where the price per unit increases from $10 to $14, the perfectly competitive firm will make adjustments to maximize profit at the new price level. As a result, the firm's quantity of output is expected to be higher than it was previously since the higher price makes more units profit-maximizing.
Which of the following General Fund accounts would be closed at year end? Multiple Choice Due from State Government. Deferred Inflows – Property Taxes. Estimated Uncollectible Taxes. Other Financing Uses – Transfers Out.
Answer: Other Financing Uses - Transfers Out.
Explanation: General fund account refers to a system whereby resources are recorded whose use are limited by the provider, government agency, or by law. These accounts do not emphasize profitability rather they emphasize accountability.
Answer:
Other Financing Uses – Transfers Out.
Explanation:
The Governmental Accounting Standards Board (GASB) is the entity that establishes the accounting principles used by state and local governments. They follow the same logic than US GAAP, but most accounts are generally called differently and some procedures also vary due to budget restrictions and uses of public money.
General fund account is basically the most important account in public accounting since it used to control cash inflows and outflows. It is also divided into subsidiary accounts, basically following the logic of revenues and expenses. Also following the logic of revenues and expenses, some of them must be closed at the end of the year.
Other financing uses account includes special transactions regarding non-operating revenues and expenses. Transfers out account includes transfers from the fund balance account.Uncle John's Pipe Company has been experiencing several years of financial difficulty and, thus, has considered maintaining its dividend payment at $2.50 indefinitely. What is the value of its common stock if the required rate of return is 8.5 percent?
Answer:
The value of its common stock is $29.41
Explanation:
As the Dividend payment is for indefinite period of time, This is the perpetuity payment. The value of share can be determined by calculating the present value of perpetuity payment.
The formula for the present value of perpetuity is as follow
Present value of perpetuity = Cash flow / Required Rate of return
In this case the present value of perpetuity is the value of stock cash flows is The dividend payment.
Value of Stock = Dividend / Required Rate of return
Value of Stock = $2.5 / 8.5%
Value of Stock = $29.41
Answer: Value of the common stock = $29.41
Explanation:
GIVEN the following ;
Dividend =$2.50
Rate of return (r) = 8.5% 0.085
The question above requires us to calculate the value of common stock which is equivalent to the present value of perpetuity which is the amount of a fixed income or cash flow an individual earns at regular interval for an INDEFINITE period.
RECALL;
PRESENT VALUE of PERPETUITY IS GIVEN BY:
PV of perpetuity = (Dividend or coupon per period ÷ interest rate(r))
PV of perpetuity = ($2.50 ÷ 0.085)
PV of perpetuity = $29.411
PV of perpetuity = $29.41
Prime Inc. has come up with a new product development project for which the project manager forms a team. The team includes Cam, Demarco, Tamara, and Aisha from accounting, marketing, manufacturing, and sales divisions respectively. On completion of the project, the team disperses and the four return to their original departments. However, each week, the four meet after work on Thursdays to play darts at a local pub. The type of team formed by the project manager is an example of a(n) _____ team.
The team formed by the project manager is a cross-functional team, typically found in matrix organizations, which is temporary and disbands after the completion of a specific project.
The type of team formed by the project manager is an example of a cross-functional team. This is evident as the team consists of members from various departments within Prime Inc., specifically accounting, marketing, manufacturing, and sales divisions. They come together to achieve a common goal, which is the development of a new product, sharing their unique perspectives and expertise. These temporary teams operate with a clear purpose and disperse once their project goals have been met.
Matrix organizations often utilize cross-functional teams, comprising individuals from different parts of the organizations, on either a temporary or a long-term basis, to address specific business objectives, challenges, or projects. In this case, the formation of the team for new product development reflects the temporary aspect of such teams, designed specifically to accomplish a distinct project or task.
Harper Company lends Hewell Company $28,800 on March 1, accepting a four-month, 12% interest note. Harper Company prepares financial statements on March 31. What adjusting entry should be made before the financial statements can be prepared
Answer:
Dr Interest income accrued $288
Cr Interest income revenue $288
Explanation:
When preparing financial statements at the end of March,there is a need to recognize the interest income of one month,that is the interest accrued from 1st March to the end of March in the books of Harper Company,which is computed thus:
$28,800*12%*1/12=$288
The accrued interest income should be debited to accrued income and credit interest income,since an increase in income is naturally a credit in the income account and accrued interest is an asset that should be debited.
A job ________ describes the qualifications necessary for a specific job, in terms of education, experience, personal characteristics, and physical characteristics.
a. appraisal
b. description
c. specification
d. resume plan
Answer:
The answer is specification (Option C)
Explanation:
A job specification is a written statement that describes the set of specific knowledge, experience and qualities which a person must possess in order to work a particular job.
The set of experience, qualities and knowledge include emotional, technical, physical and communication skills required to perform a job, level of experience, responsibilities involved in the job, academic qualifications, among other demands.
The term 'job specification' refers to a description of the qualifications necessary for a particular job, including education, experience, personal and physical characteristics. It serves as a guide for potential candidates and an important tool for HR during recruitment.
The correct option is c.
Explanation:A job specification describes the qualifications necessary for a specific job, in terms of education, experience, personal characteristics, and physical characteristics. This is not to be confused with a job description, which outlines the responsibilities and duties of the job, or a job appraisal, which is a performance review. A job specification acts as a guide for potential candidates, helping them understand if they have the required skills and qualifications needed for the job. In addition, it serves as a useful tool for human resources to screen candidates and can be crucial during the recruitment process.
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Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that _____ are a key to success.
A. proprietary products
B. brand strategies
C. network effects
D. technology expenses
E. advertising campaigns
Answer:
C. network effects
Explanation:
The network effect is a phenomenon that explains that the number of users can increase or decrease the value of a system. The best example of the network effect is the internet and E-commerce websites. At first, there were hardly any clients yet with time, the estimation of web expanded because of increase in several clients.
How many days do you have to resolve your delinquency before your loan officially defaults
Answer:
270 days
Explanation:
A loan is delinquent if its not paid as at when due. When this happens, the lender has a window of 270 days within which to pay the loan.
When the loan is not paid between this 270 days, the loan goes into default. This means that the lender has refused to pay the loan and that could attract sanctions or drastic measure being taken out on the lender to recover the loan.
Cheers.
Both Mia and Mario produce only the item in which they have a comparative advantage. Then they trade one pasta for one pizza. Before specialization and trade started, Mia and Mario were each producing 66 dishes of pasta and 66 pizzas an hour. The total gains from trade are ______ dishes of pasta and ______ pizzas an hour.
The total gains from trade are 66 dishes of pasta and 66 pizzas an hour.
Explanation:
A calculation of the net income from trade is the amount of the surplus of the customer and the earnings of the manufacturer or, more generally, the enhanced efficiency of the specialization of production with the subsequent export.
Trade gains can also apply to the net benefits of reducing barriers to trade, such as import tariffs, for a region.
To measure the income, take the price at which you sell the investment and deduct from it the price you originally charged for it. Now that you've got the income, split the income by the original value of the investment. Finally, subtract the response by 100 to adjust the percentage of your investment.
Force Corporation is owned equally by Luke and his sister Leia, each of whom own 200 shares in the company. Force redeemed 100 shares of Luke’s stock in the company on December 31 of this year paying Luke $1,000 per share. Luke’s income tax basis in each share is $500. Force has total E&P of $800,000. What are the tax consequences to Luke as a result of the stock redemption?
Complete question:
Force Corporation is owned equally by Luke and his sister Leia, each of whom own 200 shares in the company. Force redeemed 100 shares of Luke’s stock in the company on December 31 of this year paying Luke $1,000 per share. Luke’s income tax basis in each share is $500. Force has total E&P of $800,000. What are the tax consequences to Luke as a result of the stock redemption?
a)$50,000 capital gain and a tax basis in each of his remaining shares of $500.
b)$50,000 capital gain and a tax basis in each of his remaining shares of $1,000.
c)$100,000 dividend and a tax basis in each of his remaining shares of $500.
d)$100,000 dividend and a tax basis in each of his remaining shares of $1,000.
Answer:
$50,000 capital gain and a tax basis in each of his remaining shares of $500.
Solution:
The sale should be viewed as an swap as Luke decreases the shareholding from 50 per cent (200/400) to 33 per cent (100/300).
Luke is not regarded as the shareholder of any property held by his dad.
Luke records a capital benefit of $50,000, measured as $100,000 – $50,000.
∴ $50,000 capital gain and a tax basis in each of his remaining shares of $500.
Anita is conducting a country market assessment and is focusing on four key elements: distribution channels, transportation systems, communication systems, and commerce. In doing so, Anita is evaluating which component of the market assessment?
Answer:
infrastructure
Explanation:
Based on the scenario being described within the question it can be said that Anita is evaluating the infrastructure component. This component refers to the analyzing all of the physical facilities and systems that will be needed for the business within a certain market. This includes distribution and communication channels as well as the warehouses and facilities for the business' operations.
: If the estimate of the useful life of equipment is modified, this change requires A : that no change be made to the amount of periodic depreciation recorded in subsequent years. B : that income for the current year be increased. C : a retroactive change in the amount of periodic depreciation recognized in previous years. D : that the amount of periodic depreciation be changed in the current and future years.
Answer:
D
Explanation:
that the amount of the periodic depreciation be changed in the current year and in future years
Answer:
D : that the amount of periodic depreciation be changed in the current and future years
Explanation:
The accounting standard under IFRS, IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors proviede guidance on accounting policies, accounting for changes in estimates and reflecting corrections of prior period errors.
According to the standard, a change in accounting estimates is applied progressively.
The change in the estimated useful life of an asset is a change in accounting estimate. As such, this is applied in the current and future years in the estimation of depreciation.
_____ occurs when an advertiser underwrites the total cost of a program.
A. Market aggregation
B. Full-spot participation
C. Sponsorship
D. Narrowcasting
E. Television customization
Why is it a good idea to make interest payments for those loans that accrue interest during a grace period?
Answer:
Because during the grace period interest will accrue and it is added to the principal which also accrues interest, increasing your total debt.
Explanation:
A grace period refers to a period of time in which you are not obligated to make payments. However, some loans provide a grace period but interest accrue which increases the amount you owe. Because of that, it is a good idea to make interest payments on those loans to save money by avoiding that the interest is added to your principal raising your total debt.
Question help fifty dash fourfifty-four wild bears were anesthetized, and then their weights and chest sizes were measured and listed in a data set. results are shown in the accompanying display. is there sufficient evidence to support the claim that there is a linear correlation between the weights of bears and their chest sizes
Answer:
Answer: Yes, There is a linear correlation between the weights of the bears and their chest sizes because the absolute value of the test statistics 0.961 exceeds the critical value
Explanation:
Claim: There is a linear correlation between the weights of the bears and their chest sizes
Null hypothesis, H₀ : p=0 (there is no significant correlation)
Alternative hypothesis, H₁ : p ≠0 (there is no significant correlation)
Level of significance, α = 0.05
Decision rule: Reject H₀ if robserved ≥ rcritical
Sample correlation coefficient r = robserved = 0.961
Yes, There is a linear correlation between the weights of the bears and their chest sizes because the absolute value of the test statistics 0.961 exceeds the critical value
It can be inferred that there is a linear correlation between the weights of bears and their chest sizes. Therefore, it's logically correct.
From the information given, it should be noted that the null hypothesis states that there's is no significant relationship between the variables.
On the other hand, the alternative hypothesis implies that there's a significant relationship. From the data set, there's a linear correlation between the weights of bears and their chest sizes.
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Avery, Inc. held 100 shares of its own $10 par value common stock purchased for $15 per share. On December 1, Avery sold 10 shares at $15 per share. The journal entry to record the sale of treasury stock would include a (debit/credit) to Treasury Stock in the amount of $.
Answer:
The journal entry to record the sale of treasury stock would include a credit to Treasury Stock in the amount of $150.
Explanation:
Cost of treasury stock: $15 per share. This would be the cost basis of the future sales of the treasury stocks.
Hence, upon sale of the 10 shares of the treasury stock, we credit the account by:
$15 x 10 shares = $150 credit to the account.
Hannah likes to frequent Citrus, a fine dining restaurant, as she loves the beef lasagna there and orders it every time she visits the restaurant. However, during her recent visit, the lasagna she was served was undercooked. When she informed the manager about it, she learned that the food was cooked by a replacement chef as the usual chef was on leave. In this scenario, which of the following characteristics of services is responsible for the lack of consistency and quality of the food at Citrus?
a. ​Inseparabilityb. ​Intangibilityc. ​Perishabilityd. ​Heterogeneity
Answer:
D.Heterogeneity
Explanation:
There are different characteristics of service which includes
1. Inseparability
2. Variability
3. Intangibility
4. Heterogeneity
5. Perishability
Heterogeneity is the characteristics of service which is responsible for the lack of consistency in the quality of of the food at citrus.
Heterogeneity of service is the inability of the same service to give the same level of satisfaction at different periods to the same Customer.
Hannah is experiencing the heterogeneity characteristics of service. That is why the once perfectly cooked lasagna that she loves has now become undercooked.
Tim and Sally are taking out a personal loan to pay for their wedding expenses. The loan is for $9,000 and comes with an interest rate of 9.5% compounded monthly. The couple wants to pay the loan off as quickly as possible, keeping the monthly payments below $250. The lender offers repayment plans in 12 month increments. How long of a loan should they request?
Tim and sally should take a loan for 48 months that is for 4 years. As the number of compounding years has to be in multiples of 12, therefore n will be equal to 48 months which is 4 years.
What is the meaning of tenure in an annuity?An amount that is required to be paid at the end of a positive duration to reach a required sum or to pay a loan is called as an annuity. Tenure of the duration wherein the amount received is paid. we have the overall components to discover any of the missing values.
To calculate the N,
[tex]\rm\,P = PMT\times [1 -\frac{\frac{1}{(1+r)^{n} } }{r}]\\[/tex]
Here, P that is principal: $9,000
PMT that is payment is equal to $250
I is interest that is 9.5%, in this case as the payment will be given monthly, therefore i = 9.5/12 = 0.7916%
n is the number of compounding years that has to be calculated in this case.
[tex]\rm\,9,000 = 250\times [1 -\frac{\frac{1}{(1+0.007917)^{n} } }{0.007917}]\\\\\\(0.992145)^n = 1- 0.285012 = 0.714988\\\\\\n = 43.4[/tex]
Thus, As the number of compounding years has to be in multiples of 12, therefore n will be equal to 48 months which is 4 years.
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