Answer with Explanation:
Question does not state what kind of interest, here are the three common possibilities:
1. Simple interest of 6%:
Future value (FV) = 3000*(1+0.06*20) = $6600
2. compounded annually:
Future value (FV) = 3000*(1+0.06)^20 = $9621.41 (nearest cent)
3. compounded monthly:
Future value (FV) = 3000*(1+0.06/12)^(20*12) = $9930.61 (nearest cent)
Answer:
Current liability for 3 months will be $4500
Explanation:
We have given that
Sensible insurance company has collected a premium of $18000
We have given time = 1 year = 12 months
So the premium collected per month [tex]=\frac{$1800}{12}=$1500[/tex
Now, the company has collected the revenue on April 1 and now it is December 31
So number of months from April to December = 9
So total premium earned in 9 months = 9× $1500 = $13500
So current liability for 3 months will be = 3×$1500 = $4500
Answer: The answer would be a interrogation
Explanation:
Answer:
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