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
Vanyuwa [196]
3 years ago
7

How many days will it take for a sum of $1300 to earn $16 interest if it is deposited in a bank paying simple interest at the ra

te of 4%/year?
Business
1 answer:
Sav [38]3 years ago
3 0
The formula is
I=prt
I interest earned 16
P principle 1300
R interest rate 0.04
T time t/365days
16=1300×0.04×(t/365)
Solve for t
T=(16÷(1,300×0.04))×365
T=112.3 days round your answer to get 112 days

Hope it helps!
You might be interested in
Using these data from the comparative balance sheet of Blossom Company, perform vertical analysis. (Round percentages to 1 decim
vovikov84 [41]

Answer:

<u>For 2017</u>

Account receivable % = Account Receivable/Total Assets x 100

Account receivable % = $ 497,000/$ 3,101,000 * 100

Account receivable % = 0.16027088 * 100

Account receivable % = 16.0%

Inventory % = Inventory/Total Assets *100

Inventory % = $ 735,000/$ 3,101,000 * 100

Inventory % = 0.2370203 * 100

Inventory % = 23.7 %

Total Assets  = $3,101,000 = 100%

<u>For 2016</u>

Account receivable % = Account Receivable/Total Assets * 100

Account receivable % = $ 435,000/$ 2,758,000 * 100

Account receivable % = 0.15772298 * 100

Account receivable % = 15.8%

Inventory % = Inventory/Total Assets * 100

Inventory % = $555,000/$ 2,758,000 * 100

Inventory % = 0.20123277 * 100

Inventory % = 20.1%

Total Assets  = $2,758,000 = 100 %

7 0
3 years ago
What is the difference between accrual and realization concept in accounting​
Firlakuza [10]
Accrual:- in layman terms, accrual is an ongoing process. For example if you are in an auto, the fare keeps on accruing as we travel

Realization:- in layman terms realization is the receiving of the money that had accrued. For example, when you pay the auto fare, that is realization
6 0
3 years ago
Which event is an example of an external risk?
Aleksandr-060686 [28]

Answer:

Risks that are produced by a non-human source and are beyond human control. They are unexpected but happen regularly enough in a general population to be broadly predictable. Good examples of external risks are natural disasters such as earthquakes and volcanoes.

Explanation:

4 0
3 years ago
Read 2 more answers
Which of the following is NOT a useful strategy when making an informed purchase?
nasty-shy [4]
The answer to this question is B
8 0
3 years ago
12. Two masons are preparing to work on a rolling scaffolding system. Mason A says that since the scaffolding is greater than si
levacccp [35]
The correct answer is D Good luck
5 0
3 years ago
Other questions:
  • Kate begins to perform, intending that the completion of her performance act as an acceptance of Lyle's offer. Under the modern-
    11·2 answers
  • How does purchase a car affect the economy?
    15·1 answer
  • To make, sell, and distribute candy that Ethan has developed, he incorporates his business and designates his sister and brother
    9·1 answer
  • When the B2B market is segmented on the basis of product specifications issued by buyers, it is known as _____ segmentation.A. c
    9·1 answer
  • Companies in the "sunset" industries develop environment ally sound substitutes
    12·1 answer
  • All vehicles must yield the_______of way to avoid collision.
    5·2 answers
  • Shen and Valerie are building their portfolios. Shen purchases shares in a mutual fund and pays fees to a manager who actively m
    12·1 answer
  • Long-term contracts for both warehousing and transportation requirements will be more effective if the demand and price of wareh
    12·1 answer
  • What do you understand by marketing mix​
    11·1 answer
  • State the difference between selection and recruitment.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!