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2 years ago

How is the annual percentage yield (APY) calculated?

1 answer:

3 0

Annual percentage yield (APY) refers to the rate of return. It does this via way of means of stating the actual percent of increase on the way to be earned in compound interest assuming that the money is deposited for one year.

<h3>What is the formula for Annual percentage yield (APY)?</h3>

Annual percentage yield (APY) is calculated by the usage of this formula

APY= (1 + r/n )n – 1,

Here, “r” is the said annual interest rate, and “n” is the variety of compounding intervals every year.

APY is referred to as the effective annual rate or EAR.

Therefore, Annual percentage yield (APY) refers to the rate of return. It does this via way of means of stating the actual percent of increase on the way to be earned in compound interest assuming that the money is deposited for one year.

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What is a renewal date

Allushta [10]

Full Definition of renewal.
1 : the act or process of renewing : repetition.
2 : the quality or state of being renewed.
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3 years ago

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Profits earned by a company that have not been paid to stockholders are called:_______.

Andrew [12]

Answer:

Retained earnings

Explanation:

Retained earnings refer to the net income that a company keeps instead of distributing it among its shareholders and it can be used to pay debts or to make investments. According to this, the answer is that profits earned by a company that have not been paid to stockholders are called: retained earnings.

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3 years ago

Careers in the Hospitality and Tourism career cluster are

son4ous [18]

Answer:

The correct answer is: B. Bountiful and expected to continue to grow.

The tourism and hospitality industry is a fast growing and developing industry, so in the future, it is expected to grow, and become more bountiful.

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3 years ago

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Financial Statements of a Manufacturing Firm The following events took place for Sorensen Manufacturing Company during January,

Yakvenalex [24]

Answer:

Required a.

January income statement for Sorensen Manufacturing Company

Sales $1,200,000

Less Cost of Sales ($675,000)

Gross Profit $525,000

Less Expenses :

Selling expense ($215,000)

Administrative expense ($125,000)

Net Income / (Loss) $185,000

Required b.

Work In Process Inventory = $120,000

Finished Goods Inventory = $85,000

Explanation:

Manufacturing Cost Schedule (Determination of Work In Process Inventory)

Direct Materials $180,000

Indirect Materials ($250,000 - $180,000) $70,000

Direct Labor $450,000

Factory Overheads $180,000

Total Cost of Goods Manufactured $880,000

Less Transferred to finished goods ($760,000)

Closing Work In Process Inventory $120,000

Finished Goods T- Account (Determination of Finished Goods Inventory)

Debit :

Transferred from Work In Process $760,000

Totals $760,000

Credit:

Trading Account $675,000

Ending Finished Goods Inventory $85,000

Totals $760,000

7 0

4 years ago

Total costs for Locke & Company at 140 comma 000 units are $ 289 comma 000, while total fixed costs are $ 195 comma 000. T

Kobotan [32]

Answer: Total variable costs at a level of 260,000 units would be $1,74,460.

Explanation:

Total cost at 140,000 units = $249,000 and

Fixed cost = $195,000

Number of units = 140,000

∴ Total variable cost at 140,000 = Total cost - Total fixed cost

= 249000 - 195000

= $94000

Variable cost per unit = $\frac{Total\ variable\ cost}{Number\ of\ units}$

= $\frac{94000}{140000}$

= $0.671 per unit

Hence,

Total variable costs at a level of 260,000 units would be = Variable cost per unit × Number of units

= 0.671 × 260,000

= $1,74,460

5 0

3 years ago