Determine interest rate needed to accumulate

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Reference no: EM131847930

1. Determine the interest rate needed to accumulate the following amounts in a sinking fund, with monthly payments as

Accumulate $104,000, monthly payments of $300 over 19 years.

A) 4.19% B) 3.39% C) 2.69% D) 4.89%

2. The following cost information pertained to the Violin Division of Stringing Music Co. and was based on monthly demand and sales of 100 units: Per-Unit Costs Variable production costs: Direct materials $120 Direct labor 150 Variable factory overhead 60 Fixed production costs: Depreciation (equipment) 20 Factory rent 48 Other 12 Total production cost $410 Variable selling & administrative costs $24 per unit Fixed selling & administrative costs $36 per unit Given a normal selling price per unit of $750, what is the contribution margin per unit sold for recurring (i.e., normal) sales?

$336. $316. $276. $396. $630.

Reference no: EM131847930

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