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
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

You might be interested in
The amount of money left in a checking account after the checks and the service charges have been deducted is called the:
BabaBlast [244]

Answer:probably interest

Explanation:

3 0
2 years ago
Read 2 more answers
On January ​1, 2018​, the Cook​'s Restaurant decides to invest in Lake Topsey bonds. The bonds mature on December​ 31, 2021​, an
charle [14.2K]

Answer and Explanation:

The Journal Entry is shown below:-

Investment in bonds is at face value, no question about discount or premium.

Investment is rendered from the time the bonds mature before 2023. Hence, it is an investment as Working for Profit "Held until maturity"

Jan 1, 2018

Bonds receivables  Dr, $140,000

      To Cash  $140,000

(Being Investment in bonds is recorded)

30 June 2018

Cash Dr, $2,400

       To interest income $2,400

(Being six months interest received is recorded)

31 Dec 2018

3. Cash Dr, $2,400

       To interest income $2,400

(Being six months interest received is recorded)

Working note:-

Bond Value                         $140,000

Interest rate                          4%  

Interest earned half

yearly, effective rate

(4% × 6 ÷ 12)                            2%

Half Yearly interest amount

($140,000 × 2%)                     $2,800

3 0
3 years ago
Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000
valentinak56 [21]

Answer:

Net cash provided by operating activities is $325,000.

Explanation:

Lacey Company

Cash Flow Statement (Operating Activities Only)

December 31, 2022.

<u>Details                                                                       Amount ($)</u>

Net Income                                                                   310,000

Depreciation expense                                                  45,000

Increase in accounts receivable                                 (55,000)

Decrease in inventory                                                   12,000

Increase in accounts payable                                        6,000

Increase in prepaid expenses                                      (4,000)

Decrease in income taxes payable                               3,500

Gain on disposal of land                                                <u> 7,500 </u>

Net cash provided (used) by operating activities  <u> 325,000 </u>

5 0
3 years ago
The Converting Department of Hopkinsville Company had 640 units in work in process at the beginning of the period, which were 70
pav-90 [236]

Answer:

Whole units 14,320

Direct materials equivalent units 13,680

Conversion costs equivalent units 13,332

Explanation:

Calculation to Determine the number of equivalent units of production with respect to direct materials and conversion costs.

Hopkinsville Company Number of Equivalent Units of Production

WHOLE UNITS

Inventory in process, beginning 640

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,600

(640+12,960)

Inventory in Process ending 720

Total 14,320

(13,600+720)

DIRECT MATERIALS EQUIVALENT UNITS

Inventory in process, beginning 0

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 12,960

Inventory in Process ending 720

Total 13,680

(12,960+720)

CONVERSION EQUIVALENT UNITS

Inventory in process, beginning 192

[640-(640*70%)]

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,152

(192+12,960)

Inventory in Process ending 180

(720*25%)

Total 13,332

(13,152+180)

6 0
2 years ago
Discuss the four dimensions of statistical reasoning / thinking used in statistical inquiry.
Studentka2010 [4]

The four dimensions of statistical thinking, according to Wild & Pfannkuch  are an investigative cycle, styles of thinking, an interrogative cycle, and dispositions. The four dimensions are simultaneously active within the thinker and incorporate both general and specific statistical thinking tendencies. Describe the four statistical reasoning/thinking dimensions that are used in statistical investigation.

* Give and describe a concrete example of how the four-step method was applied in a managerial decision-making process. Please apply the four dimensions of statistical reasoning from Wild and Pfankuch .

* Why is having a representative sample rather than a random sample not more crucial for drawing accurate conclusions about a diverse population?

Is the due date for your task approaching? It is simple! Please fill out the order form with your instructions. All of our authors have advanced degrees in their.

Learn more about The four dimensions of statistical thinking here.

brainly.com/question/28202575

#SPJ4

5 0
1 year ago
Other questions:
  • ____ describes the period of time in a twenty-four-hour period that is spent at work.
    9·2 answers
  • You deposit $4000 into a savings account. the account earns 2.75% simple interest. how long will it take to earn $220 in interes
    12·1 answer
  • Farmer Brian has 3 acres of land which he farms efficiently. Each acre can support 10 apple trees. However the 3 acres differ in
    7·1 answer
  • A farmer believes that his new irrigation method would result in more crop yield than the old one. To test his theory, he applie
    8·2 answers
  • In the context of fixed-quantity systems,__________is defined as the on-hand quantity (oh) plus any orders placed but which have
    9·1 answer
  • Credit cards are different from debit cards because
    11·1 answer
  • TriCorp is a major financial services corporation. With the CEO of TriCorp preparing to retire, several top managers are vying f
    10·1 answer
  • Duce, Inc. produces two different products (Product A and Product X) using two different activities: Machining, which uses machi
    7·1 answer
  • Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli
    6·1 answer
  • Dave is a close-up magician who is famous for his card tricks. He creates and sells DVDs of his magic tricks. Lately he has been
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!