Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is

Accounting software can assist with which two of the following tasks? B. tracking bills that need to be issued to customers and D. monitoring after-sales services owed to customers. Many businesses utilize accounting software to manage their outstanding bills and monitor the performance of their sales and services. This helps companies oversee all incoming and outgoing funds to ensure proper budgeting and allocation of resources.

I would choose option C.

Answer:

Decrease in purchasing power =$(96.67)

Explanation:

To determine the alteration in purchasing power, we assess the value of the IRA after three years relative to its worth considering prices from three years ago.

The value of $5,500 after three years equals 5,500 × 1.012^3 = 5700.385

The purchasing power of $5,700.38 based on past prices for three years earlier

=5700.385504 × 1/(1.018^3)

= $5403.32

Change in purchasing power =  $5403.32 -  $5,500= $(96.67)

Decrease in purchasing power =$(96.67)

Response:

The type of buying situation is: Modified rebuy

Clarification:

A modified rebuy occurs when an individual or company reorders a product or service previously purchased but now seeks to change the supplier, product details (for example, gel seats) or the sales terms.

Answer:

4.88%

Explanation:

To determine the interest rate, use the formula:

r=(FV/PV)^(1/n)-1, where

r=interest rate

FV= future value= 423.17*(12*5)=423.17*60=$25,390.2

PV= initial amount= $20,000

n= time periods= 5

Substituting the values into the equation yields:

r=(25,390.2/20,000)^(1/5)-1

r=1.048-1

r=0.0488→4.88%

This indicates that the bank's annual interest rate is 4.88%.