1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lelu [443]
3 years ago
9

If the interest is compounded semiannually, look up on the chart half the rate and twice the years. If the interest is compounde

d quarterly, look up one-fourth the rate and four times the years. What is the total amount and the amount of interest earned on $6,500 at 6% for 25 years?
Business
1 answer:
Radda [10]3 years ago
4 0

Answer:

if the interest is compounded annually:

$6,500 x (1 + 6%)²⁵ = $27,897

interest earned = $27,897 - $6,500 = $21,397

if the interest is compounded semiannually:

$6,500 x (1 + 3%)⁵⁰ = $28,495

interest earned = $28,495 - $6,500 = $21,995

if the interest is compounded quarterly:

$6,500 x (1 + 1.5%)¹⁰⁰ = $28,808

interest earned = $28,808 - $6,500 = $22,308

You might be interested in
Madison Company issued an interest-bearing note payable with a face amount of $10,800 and a stated interest rate of 8% to the Me
Aleks [24]

Answer:

$360

Explanation:

Interest Expense associated with the loan is the only operating cash flow. We need to calculate the interest expense first

As the note is issued on August 1, year 1, only  5 months has been passed on December 31, year 1, So we calculate the interest expense for only 5 months.

Interest Expense = Value of Note x Stated Interest rate x 5/12 = $10,800 x 8% x 5/12 = $360

It is assumed that the interest is paid on December 31, year 1.

4 0
3 years ago
Which of the command systems would be the most appropriate when there are six victims at a mvc?
Olin [163]

Singular command. In a motor vehicle accident with multiple victims, the scene will be chaotic and having a single, clear leader will best help resolve the situation.

5 0
3 years ago
How much time will be needed for 35,000 to grow to 44,622.09 if deposited at 7% compounded quarterly
Vlad [161]

Answer:

It will take 14 quarters (3.5 years) to reach $44,622.09 from $35,000 at an interest rate of 7% compounded quarterly.

Explanation:

Giving the following information:

PV= 35,000

FV= 44,622.09

i= 0.07/4= 0.0175

We need to calculate the number of quarters required to reach the objective. We will use the following formula:

n= ln(FV/PV) / ln(1+i)

n= ln(44,622.09/35,000) / ln(1.0175)

n= 14

It will take 14 quarters (3.5 years) to reach $44,622.09 from $35,000 at an interest rate of 7% compounded quarterly.

8 0
3 years ago
Given the following information, calculate the savings ratio:
inessss [21]

Answer:

$21.71%

Explanation:

Given that

Monthly saving = $760

Gross income = $3500

The computation of the savings ratio is shown below:-

Savings Ratio = (Monthly savings ÷ Gross Income) × 100

= ($760 ÷ $3,500) × 100

= $0.21 × 100

= $21.71%

Therefore for computing the saving ratio we simply divide gross profit by monthly saving and after a result we multiply by 100.

3 0
3 years ago
Bo Borg is the vice president of purchasing for Crater Corp. He has authority to enter into purchase contracts on behalf of Crat
g100num [7]

Answer: Crater will be bound because of Borg's apparent authority.

Explanation:

Crater Corp. will be bound to the contract since Bo Borg has the apparent authority as the acting Vice President of purchasing. Even though he went over the agreed amount that was over 2 million in the contract. Since the Shady company was unaware that he had exceeded his authority the contract will stay in place. If Shady company had of known that he did not have the final say and needed approval the result of the transaction would of been different.

7 0
3 years ago
Other questions:
  • The department chair of the it department issued a directive that "absolutely no food or drink are allowed in any computer lab."
    15·2 answers
  • What are some union issues that are in the popular press (news, magazines,
    6·1 answer
  • Which condition would not help to produce a test like environment?
    7·1 answer
  • Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of $12,500. During
    13·1 answer
  • Tom's lawn service specializes in mowing lawns and trimming bushes Tom has 4 hours to devote to lawn services. In 1 hour, he can
    13·1 answer
  • Fill in the blank: The best way to achieve a short-term money goal is to _______.
    8·2 answers
  • Which of the following statements about personal selling is​ correct?
    8·1 answer
  • What is the best way to deal with a negative experience with a past employer or job if it comes up during your interview?
    7·1 answer
  • The net income for Bramble Corp. for 2022 was $264,300. For 2022, depreciation on plant assets was $65,600, and the company incu
    7·1 answer
  • mcgraw hill Question Mode Multiple Choice Question Upper-echelons theory views organizational outcomes as a reflection of the va
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!