If you put money into a compound interest account with 7.2% interest rate how many years will it take to double your money?

Abardeen Corporation borrowed $90,000 from the bank on October 1, 2018. The note had an 8 percent annual rate of interest and ma

Vitek1552 [10]

Answer:

$0

Explanation:

Data provided in the question

Borrowed amount from the bank = $90,000

Annual interest rate = 8%

Maturity date = March 31, 2019

Since it is mentioned in the question that, the interest and the principal were paid in cash on the maturity date so for the amount of cash that Abardeen had to pay for 2018 interest would be zero as the principal and the interest is paid for 2018

7 0

3 years ago

Eastern Motors Auto Dealership wanted to estimate the average CLV over a 5 year time horizon of a customer who purchases a new v

NARA [144]

Answer:

The total estimated CLV over a 5 year time horizon for someone who purchases a new vehicle at Eastern Motors is $3,410.40.

Explanation:

Margin on selling vehicle = Average vehicle selling price * Margin = $23,700 * 11% = $2,607

Margin generated by 78% of people who return for service over 5 years = Number of times * Margin generated on each service = 10 * $103 = $1,030

Total estimated customer lifetime value (CLV) = Margin on selling vehicle + (Margin generated by 78% of people who return for service over 5 years * 78%) + (Margin generated by 226% of people who do not return for service over 5 years * 22%) = $2,607 + ($1,030 * 78%) + ($0 * 22%) = $3,410.40

Therefore, the total estimated CLV over a 5 year time horizon for someone who purchases a new vehicle at Eastern Motors is $3,410.40.

6 0

3 years ago

Cardinal Industries purchased a generator that cost $11,000. It has an estimated life of five years and a residual value of $1,0

atroni [7]

Answer:

Correct answer is letter D, $11,000 cost, five-year life and $1,000 salvage value

Explanation:

To compute depreciation expense of an asset using straight-line method of depreciation, the information we needed is 3,

1. cost of an asset

2. life of an asset (in year)

3. residual value (if available)

* residual value of an asset is to be determined by the company, some asset don't have scrap value assigned.

FORMULA 

The difference between the cost of an asset and the expected residual value over the number of years it is expected to be useful.

(cost of an asset - residual value ) / life of an asset

6 0

3 years ago

Henry Carr and Noreen Mason formed a partnership, dividing income as follows: annual salary allowance to Carr of $42,000; intere

Evgesh-ka [11]

Answer:

$239,060

Explanation:

The computation of the net income distributed to Carr as follows;

Particulars Carr Mason net income distributed Non-allocated

Net income $442,000

Salary

allowance $42,000 $42,000 $400,000

Interest

on capital $4,410 $10,290 $14,700 $385,300

left amount $192,650 $192,650 $385,300 $0

Net income $239,060

8 0

3 years ago

How many people can fit into the pentagon, which was once the largest office building in the world? assume that everybody must b

ioda

The Pentagon is the world's largest office building, with about 6,500,000 sq ft (600,000 m2) of space, of which 3,700,000 sq ft (340,000 m2) are used as offices. Some23,000 military and civilian employees, and another 3,000 non-defense support personnel, work in the Pentagon.

Further Explanation:

5 sides to the Pentagon:

The structure was initially intended to fit onto a tract of land with fringes on five sides. At last, it was constructed somewhere else, at a site where a pentagonal shape was never again basic. Be that as it may, when of this area change, it was past the point where it is possible to think of another plan. So it stayed a pentagon.

What occurs at the Pentagon:

The Pentagon is the central command of the United States Department of Defense. As an image of the U.S. military, the expression The Pentagon is frequently utilized as a metonym for the Department of Defense and its administration.

Pentagon without a visit:

You needn't bother with a ticket to enter the remembrance and there is no security check, however officials of the Pentagon Police power are on obligation and can do spot checks whenever.

Subject: business

Level: High School

Keywords: 5 sides to the Pentagon, What occurs at the Pentagon, Pentagon without a visit.

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3 0

3 years ago

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If you put money into a compound interest account with 7.2% interest rate how many years will it take to double your money?￼

If you put money into a compound interest account with 7.2% interest rate how many years will it take to double your money?