The time required from simple interest on a principal of $4,500.00 at an interest rate of 22% per year is 4.55 years (about 4 years 7 months).
<h3>Simple Interest</h3>
Given Data
- Final Amount = $4,500*2 = $9,000
Equation:
t = (1/r)(A/P - 1)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 22%/100 = 0.22 per year,
then, solving our equation
t = (1/0.22)((9000/4500) - 1) = 4.55
t = 4.55 years
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Answer:
c.a decrease in quantity demanded of poultry and an increase in the demand for fish.
Explanation:
The law of demand states that the higher the price , the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Following from the law of demand, if the price of poultry increases, the quantity of poultry demanded would fall.
Because fish and poultry are subsituites goods, if the price of poultry increases, the demand for fish would increase.
I hope my answer helps you.
<span>To find the amount of FICA taxes one has to contribute, there are two values needed. First, the Social Security tax rate is 0.062 (6.2%) on the first $127,200 in wages, and then the Medicare tax is 0.0145 (1.45%) on the first $200,000 in income. Adding these two figures gives the total FICA taxes. 6.2 percent of $27,000 is $1,674, and 1.45 percent of $27,000 is $391.50. Adding these two values together (1674 + 391) gives a total of $2,065, or choice (A).</span>
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Mcmurtry Corporation sells a product for $110 per unit. The product's current sales are 12,200 units and its break-even sales are 10,614 units.
<u>The margin of safety is the number of units or amount of dollars that provide genuine profit to the company. It is the "margin" that gives room to try new strategies</u>.
It is calculated using the following formula:
Margin of safety ratio= (current sales level - break-even point)/current sales level
Margin of safety ratio= (12,200 - 10,614) / 12,200
Margin of safety ratio= 0.13=13%
Gain or loss from the sale of property must be calculated. The loss from foreclosure of property must be subtracted from wage income.
