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Savatey [412]
3 years ago
11

1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.0

8 $8.16 $4.00 2. What is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. A business just took out a loan for $100,000 at 10% interest. If the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. What is the annual percentage yield (APY) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%
Business
1 answer:
Leona [35]3 years ago
7 0

Answer:

  1. $8.00
  2. $25.97
  3. $2500

Explanation:

1. The amount earned each year is 4% × $100 = $4. After 2 years, the account has earned 2×$4.00 = $8.00.

__

2. If the account earned simple interest, it would earn 8% × $100 = $8.00 each year. After 3 years, the interest would total $24.00. Since the interest is compounded, the interest also earns interest and the total amount of interest is more than $24.00. The appropriate answer choice is $25.97.

__

3. If the business had taken a year to pay off the loan, it would have paid in interest ...

  10% × $100,000 = $10,000

Since the loan was paid off in 1/4 year, the amount of interest paid is 1/4 that amount, so is

  (1/4) × $10,000 = $2,500

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7 0
3 years ago
A firm have an inventory turnover of 5 times a year on a cost of goods sold of $800 000.if the firm improves the inventory turno
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Answer:

d) $60,000 is released into working capital

Explanation:

Inventory turnover is the number of times that a firm buys and sells inventory. A high inventory means that the company sells its stock many times in a year.

the formula for inventory turnover ratio

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If a firm has COGS of $800,000 and an inventory turnover of 5, then the average inventory will be

=$800,000 /5

=$160,000

If the firm improves its  turnover to 8, then the average inventory will be

=$800,000/8

=$100,000

The firm average inventory will  $100,000 as opposed to $160,000 previously.

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3 0
3 years ago
Eaton Tires manufactures tires for dune buggies and has two different products, nubby tires and smooth tires. The company produc
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Answer:

Materials handling= $60 per requisition

Machine setups= $110 per setup

Quality inspections= $95 per inspection

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<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

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Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

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4 0
3 years ago
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( Because the deductible exceeds the loss or the damage. The loss is $425 and the deductible is $ 500, so here the deductible exceeds the loss hence the insurance company will not pay anything).

People like you pay premiums to insurance companies to cover potential losses related to their property. Insurance companies receive these premiums and aggregate them into money pools. These funds are available to cover losses incurred by pool members.

When you report a car accident to the insurance company, the insurance company will send an adjuster to assess the damage. The expert's first task is to decide whether to classify the vehicle as a total loss. Assuming the vehicle is a total loss, the expert performs a valuation and assigns a value to the vehicle.

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5 0
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