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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

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Conlon Chemicals manufactures paint thinner. Information on the work in process follows:
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Answer:

a. The equivalent units for materials using the weighted-average method  223432 gallons

b. The equivalent units for conversion costs using the weighted-average method 218714 gallons

Explanation:

The Concept of Equivalent units needs to be first defined.Equivalent Units in process costing is the number of units in terms of completion stage or percentage of a certain input element in the process.

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Units of Closing Work In Process = Units of Opening Work In Process + Units Started during the year - Units of Closing Work In Process

Therefore Units of Closing Work In Process  = 43300+235400-211300

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Closing Work In Process ( 67400×18%)                 =   12132

Completed and Transferred Out ( 211300×100%) = 211300

Total                                                                             223432

<em>Step 3 Calculate the Equivalent Units of conversion costs</em>

Closing Work In Process ( 67400×11%)                  = 7414

Completed and Transferred Out ( 211300×100%) = 211300

Total                                                                            218714

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