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Dima020 [189]
3 years ago
8

You borrowed $2,500 from your grandmother. You agreed to pay back the loan with a single payment at the end of five years. The i

nterest rate was set up at 2% per year. How much will you owe your grandmother when you pay off the loan
Business
2 answers:
Mariana [72]3 years ago
5 0

Answer: $2,750

Explanation: This is a simple interest problem, we calculate thus:

Principal = $2,500

Time = 5 years

Rate = 2%

Formula:

I = (P x R x T)/100

I = (2,500 x 2 x 5)/100

I = 25,000/100

I = 250.

Therefore the amount that will be owed at the end of 5 years is:

$2,500 + $250 = $2,750.

Lerok [7]3 years ago
3 0

Answer:

$27,500

Explanation:

We can us simple interest to solve the question because it is the tool that be used in this cases

To solve this , we have the formula of simple interest as

I = (Principal ×rate × time )÷100

We given the following as;

Principal = $2,500

Rate = 2%

Time = five (5) years

Substituting the values into the formula we have

I = ($2,500× 2× 5)÷100

I = $25,000÷100

I = $250

Now the total money that will be returned to grandmother will be addition of principal and simple interest which is

= $2,500+$250

= $27,500

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3 years ago
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The straight-line depreciation method and the double-declining-balance depreciation method: A. Produce the same depreciation exp
Artemon [7]

The relationship between the straight-line and double-declining-balance method is that they D. Produce the same total depreciation over an asset's useful life.

<h3>How are the straight-line and double-declining-balance methods related?</h3>

While they do not produce the same depreciation every year, they will eventually depreciate an asset in the same way overtime.

What this means is that both methods will depreciate an asset by the same amount at the end of the asset's life. However, the depreciation amounts will vary by method on an annual basis.

In conclusion, option D is correct.

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6 0
2 years ago
What is the recovery period and depreciation method of a residential rental property located in a foreign country which was plac
snow_lady [41]

Answer: For residential rental property, the recovery period using GDS is 27.5 years. 2 If you use ADS, the recovery period for the same type of property is 30 years if it was placed in service after December 31, 2017, or 40 years if it was placed in service before that date.

Explanation: Is the good enough???

7 0
2 years ago
You have $140,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expect
dedylja [7]

Answer:

Amount investment in Sock Y = - $126,000

Beta of portfolio = 1.636

Explanation:

Data provided in the question:

Total amount to be invested = $140,000

Stock                          X       Y

Expected return       14%     10%

Beta                          1.42     1.18

Expected return of portfolio = 17.6%

Now,

let the weight invested n stock X be W

therefore,

Weight of Stock Y = 1 - W

thus,

( W × 14% ) + (1 - w) × 10% = 17.6 %

or

14W + 10% - 10W = 17.6%

or

4W = 7.6

or

W = 1.9

Therefore,

weight of Y = 1 - 1.9 = -0.9

Thus,

Amount investment in Sock Y = Total amount to be invested × Weight

= 140,000 × ( - 0.9 )

= - $126,000 i.e short Y

Beta of portfolio = ∑ (Beta × Weight)

= [ 1.42 × 1.9 ] + [ 1.18 × (-0.9) ]

= 2.698 - 1.062

= 1.636

6 0
3 years ago
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