You invest $500 at 10 percent interest per annum. at the end of 2 years with simple interest you will have ____ and with compoun
1 answer:
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Answer:
It will take 30.10 year
Explanation:
We have given initial investment $500000
Future value = $ 1 million = $1000000
Rate of interest r = 1.79 %
We have to find the time taken to reach the amount $1000000
We know that future value is equal to
Taking log both side
n×0.0077 = 0.3010
n = 39.09 year
Now in second case rate of interest
r = 2.34 %
So
taking log both side
log 2 = n log 1.0234
n×0.01 = 0.3010
n = 30.10 year
Answer:
$21.67
Explanation:
Exhibit 21-3 is attached with the answer .Please find it.
Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.
Cost of producing 60 units
Variable cost = $800
Fixed cost = $500
Total cost = $800+500 = $1,300
Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67
