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3 years ago

How much money invested at 5% compounded continuously for 3 years will yield $820?

2 answers:

6 0

Percentage of interest at which the money is invested = 5%
Time for which the money is invested = 3 years
The final amount after 3 years = $820
Let us assume the principal amount = x dollars
Then
820 = x (1 + 0.5)^3
820 = x(1.05)^3
x = 820/(1.05)^3
= 708.35 dollars
From the above deduction, we can conclude that the principal amount invested was $708.35.

enot [183]3 years ago

4 0

To solve for compounding continuously follow the equation:

A = Pe^rt

A = Amount

P = Principal

e = Constant e

r = Rate of interest

t = Time in years

What we know:

Interest rate in percent = 5%

Length of time money is invested = 3 years

Total after 3 years = $820

What we want to know: amount of money that will yield $820 after 3 years at a 5% interest rate = X

To solve:

820 = X(1 + 0.5)^3

820 = X(1.05)^3

X = 820/(1.05)^3

X = 708.35 dollars

The principal amount invested was $708.35

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Answer:

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Discount refers the amount that is deducted from the usal price of a good sold or service rendered.

From the question, the credit terms 2/10, n/30 implies 2% discount if the amount owed is paid within 10 days while no discount will be enjoyed if the amount owed is paid after 10 days but must be beyond 30 days.

Therefore, the amount owed by Lulu's if the store pays within the discount period, i.e. within 10 days, can be calculated as follows:

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4 years ago

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4 years ago

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Answer:

Option C is the correct answer.

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3 years ago

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4 years ago

Read 2 more answers

Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginnin

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Answer:

Results are below.

Explanation:

Giving the following information:

Estimated total machine-hours (MHs)= 6,250

Estimated total fixed manufacturing overhead cost= $31,700

Estimated variable manufacturing overhead cost= (1*3,250 + 2*3,000)= $9,250

Job A

Direct materials $15,900

Direct labor cost $ 23,000

Molding machine-hours 1,250

Finishing machine-hours 1,750

First, we need to calculate the predetermined overhead rate:

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

Predetermined manufacturing overhead rate= (31,700 + 9,250)/6,250

Predetermined manufacturing overhead rate= $6.55 per machine hour

Now, we can calculate the total cost of Job A:

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Total cost= $58,550

Finally, the selling price for Job A:

Selling price= 58,550*1.3= $76,115

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3 years ago