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Maksim231197 [3]
1 year ago
13

find the accumulated amount at the end of 9 months on an $800 deposit in a bank paying simple interest at a rate of 6% per year.

Business
1 answer:
Valentin [98]1 year ago
7 0

As per the given figure, after calculating the accumulated amount, the figure that has been arrived is $1,232.

<h3>What is the accumulated amount?</h3>

Accumulated value or accumulated amount, both are synonyms. It is used to refer to the cash value. Basically, this means there is an easy way of calculating the accumulated value.

All one has to do is to find the total or the sum of the initial investment and, in that addition, the interest which has been earned till date will be added. Formula for calculating the simple interest is

Accumulated amount =Principal amount (1+rate * time)

Here Principal amount = $800,    rate= 0.06,   time=9 months

Accumulated amount = 800 (1+(0.06*9) = 800 (1+ 0.54 ) =  $1,232.

Thus, the accumulated amount for the given data is $1,232.

Learn more about accumulated amount from here:

brainly.com/question/12903532

#SPJ4

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3 years ago
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the u
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Answer:

Overhead Rate 14.5856

Explanation:

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\frac{838780}{72400}= 11.5856

Then we will add the fixed with the variable to get the total overhead per machine-hour

11.5856 + 3 = 14.5658

8 0
3 years ago
What best describes the difference between careers and industries
Mrac [35]

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I hope this helps you.

7 0
3 years ago
The reserve requirement is 15 percent. Lucy deposits $600 into a bank. By how much do excess reserves change
Hatshy [7]

Answer:

$510

Explanation:

Calculation for By how much do excess reserves change

Using this formula

Change in excess reserve= Bank Deposits-(Reserve requirement*Deposit)

Let plug in the formula

Change in excess reserve=$600-($600*15%)

Change in excess reserve=$600-$90

Change in excess reserve=$510

Therefore By how much do excess reserves change is $510

7 0
3 years ago
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Answer:

The two companies are:

1. Mercer

2. Aen

Explanation:

1. The name of the tests. The tests are administered online https://www.practiceaptitudetests.com/top-employer-profiles/mercer-assessments/. There are four categories:

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2. Adaptive Employee Personality Test (ADEPT-15®)

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Cheers

3 0
3 years ago
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