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Question - Lucinda Diamanti is 10 years old today (August 15th) and while all she's interested in is her new bike, her parents Mr. & Mrs. Diamanti are considering how they will pay for her college education beginning in 8 years. They decide to set up a meeting with their financial adviser Cindy Morgan to discuss an education savings plan. During the meeting, the Diamanti's inform Cindy that they have $8,000 they can use to begin the savings plan, and from what they can determine, Lucinda will require 4 years to complete her undergraduate degree in molecular biology. Cindy consults a reputable college reference to see that tuition costs are currently estimated at $32,000 per year and are expected to grow at 4% each year for the foreseeable future. The Diamanti's are concerned that they won't have enough money and ask Cindy how to make sure they have enough to completely pay for Lucinda's undergraduate education. The Diamanti's inform Cindy that they want to make deposits into the education savings plan on an annual basis until Lucinda's first year in college at which point they will stop making contributions. Cindy tells them they can earn 8% annual interest on their savings plan. Your job to answer the following two questions (You may assume there are 8 years between today and the beginning of Lucinda's first day in college):
How much money do the Diamanti's need to deposit annually in order to reach their goal to fund Lucinda's education fully? Remember that the Diamanti's have $8,000 to invest today. Round your answer to a whole number.
Prepare a production budget for each of the months of June, July and August. Assume the beginning inventory of chairs in June will be 1,500 units
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shows that increased government purchases, with taxes held constant, can eliminate a recessionary gap. How could a tax cut achieve the same result - Describe the discretionary fiscal policies to close a recessionary gap and an expansionary gap
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King would like a profit of €100 from the sale of each unit. What should be the selling price per unit? Calculate the cost of producing one unit
What type of situations would capital budgeting decisions be made solely on the basis of project's net present value? Are there any potential reasons.
Prepare contribution format variable costing income statements for Korona Company to show the overall effect on the company's net operating income.
Prepare a variance summary, and briefly comment on variances that should be investigated.
Describe a benefit to using the pay-back method to evaluate a capital project investment.300 word count, excluding citations and references
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study the income statements of vitajet limited for three years provided below and answer the following questions1nbsp
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