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natka813 [3]
1 year ago
13

how much would be in your savings account in 9 years after depositing $160 today if the bank pays 9 percent per year

Business
1 answer:
levacccp [35]1 year ago
7 0

In 9 years after depositing $160, in my savings account would be $289.6

The formula for simple interest and procedure we will use to solve this exercise is:

S.I.= (P*R*T)/100

Where:

  • P = principal
  • R = rate of interest in % per annum
  • T = time

Information about the problem:

  • P = $160
  • R = 9%
  • T = 9 years
  • Total amount = ?

Applying the simple interest formula, we get:

S.I.= (P*R*T)/100

S.I.= (160* 9*9)/100

S.I.= $129.6

Calculating the total amount that would be in my savings account, we get:

Total amount = P + S.I.

Total amount = $160 + $129.6

Total amount = $289.6

<h3>What is simple interest?</h3>

It is the operation in which we calculate the profit produced by a capital loaned at a given percentage.

Learn more about simple interest at: brainly.com/question/20690803

#SPJ4

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Answer:

b. a radio broadcast

Explanation:

The pure public good is a good which is non-rivalrous and non-excludable. Non-rivalrous represents that the goods does not diminshed in the case when more people consumed it while on the other hand, the non-excludable represents that the goods are available to all

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Answer:

The annualized cost of borrowing is 5.42%

Explanation:

The cost of borrowing is the finance charge which is the dollar amount of the loan that cost the person. Lenders usually charge what is referred to as the simple interest.

The formula to compute the same is as:

Principal  x rate x time = Interest

where

Principal amount is $3,000,000

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Time is 45 days, So time is number of days borrowed divided by number of days in a year

Time = 45 / 365 days

Time = 0.123

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Putting the value above:

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4 0
3 years ago
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi
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Answer:

Explanation:

The journal entry is shown below:

(A) Sales return and allowance A/c Dr $450,000

    To Accounts receivable                        $450,000

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       To Cost of goods sold                      $292,500

(Being cost of goods sold recorded)

The computation of the estimated return is shown below:

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= $11,500,000 × 4% - $450,000

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(B) Sales return and allowance A/c Dr $10,000

    To Accounts receivable                        $10,000

(being returned goods recorded)

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Therefore, copyright motivates individuals to produce intellectual content relevant to society, with the certainty that the author's rights will be maintained, even after the death of the creator, copyright guarantees the security of rights after 50 to 100 years.

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