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
lbvjy [14]
3 years ago
12

One year ago, you invested $1,800. Today it is worth $1,924.62. What annually compounded rate of interest did you earn?

Business
1 answer:
mina [271]3 years ago
5 0

Answer:

6.92%

Explanation:

The computation of the annually compounded rate of interest is presented below:

Future value = Invested amount × (1 + rate)^number of years

where,

Invested amount = $1,800

Rate = ?

Number of years = 1 year

The future value = $1,924.62

So, the rate is

$1,924.62 = $1,800 × (1 + rate)^1

After solving this, the rate is 6.92%

You might be interested in
a. After the magazine The Economist publishes an article indicating that analysts expect the value of Tunisian dinars to rise re
german

Answer: Depreciate

Explanation:

The Economist is a widely respected financial and economic magazine which means that their articles can cause movements in the market especially when backed up by analysts.

The Economist believes that the Tunisian Dinar will rise relative to the Peruvian Sol, this means that the Peruvian Sol will depreciate against the Tunisian Diner. Some people and entities holding Peruvian Sol assets will try to offload it so that they do not suffer losses.

This increase in supply and reduction in demand for the Peruvian Sol will lead to it depreciating.

3 0
3 years ago
The shareholders' equity of Green Corporation includes $320,000 of $1 par common stock and $510,000 par of 7% cumulative preferr
Mama L [17]

Answer:

$25,300

Explanation:

The computation of the common shareholders received the dividend for the year 2021 is shown below:

Since in the year 2021, the dividend i.e. declared is $61,000

Now the preference shareholders dividend is

= $510,000 × 0.07

= $35,700

So for common shareholders, the dividend would be

= $61,000 - $35,700

= $25,300

8 0
3 years ago
A company usually processes 20,000 orders at a total cost of $250,000. During the year, only 10,000 orders were processed. What
Ivan

Answer: $125,000

Explanation: The Company usually processes 20,000 orders at a cost of $250,000. To process one order = 250,000/20,000=$12.5

Therefore if during the year 10,000 orders were proceeded. the cost will be

10,000 * $12.5 = $125,000

8 0
4 years ago
Koczela Inc. has provided the following data for the month of May:
scZoUnD [109]

Answer:

$234,000

Explanation:

cost of goods manufactured = beginning work in process + direct materials + direct labor + manufacturing overhead cost applied - ending work in process

cost of goods manufactured = $25,000 + $65,000 + $95,000 + $69,000 - $20,000 = $234,000

cost of goods sold = beginning finished inventory + cost of goods manufactured - ending finished inventory + underapplied overhead  

cost of goods sold = $54,000 + $234,000 - $58,000 + $2,000 = $232,000

7 0
3 years ago
When reviewing loan applications, Jessica, a loan officer at A+ Credit Union, always examines the amount of cash and marketable
poizon [28]

Answer: Capacity

Explanation: Under the characteristic of capacity, the reviewing authority tries to evaluate the ability of the opposite party if they are competent enough to pay the loan.

In the given case Jessica considers the amount of liquid assets that the opposite party have, which is a reasonable criteria to understand the liquidity position.  

3 0
4 years ago
Other questions:
  • During weekly conference calls, Zeke, a sales manager for a national chain of clothing stores, and the other managers in his dis
    14·1 answer
  • A decrease in the tax on capital income​ ______ the real interest rate and​ ______ investment and economic growth.
    9·1 answer
  • Mauve has been working as the creative head at Juno Designs for the past 10 years. Her growth at Juno has made her one of the fi
    11·1 answer
  • How do developed countries maintain an advantage over
    8·1 answer
  • On February 1, 2018, Cue Company acquired 1,000 shares of its $1 par value stock for $47 per share and held these shares in trea
    6·1 answer
  • Senator Smith argues that the U.S. should spend another $100 million on healthcare this year in addition to the $800 million tha
    14·1 answer
  • Quadros Inc., a Portuguese firm was acquired by a U.S. company on January 1, 2017. Selected account balances are available for t
    11·1 answer
  • If a plant is operating at full capacity and receives a one-time opportunity to accept an order at a special price below its usu
    15·2 answers
  • Project Droid has a net present value of $45,000 and has an initial investment of $180,000. Project Clone has a net present valu
    11·1 answer
  • A wedding party hired a sole proprietorship to cater their wedding. In this situation the sole proprietorship is a partnership,
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!