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dem82 [27]
3 years ago
12

If you invested $250 in a bank account for 2 years and received $7.50 in simple interest, what was the annual interest rate for

the account
Business
1 answer:
Pavel [41]3 years ago
3 0
Given:
initial investment: $250
term: 2 years
interest earned: $7.50

Because it was stated that $7.50 is the simple interest, we will use this formula:

Interest = Principal * Interest Rate * Term

7.50 = 250 * Interest Rate * 2
7.50 = 500 * Interest Rate
7.50 / 500 = Interest Rate
0.015 or 1.5% = Interest Rate

The interest rate for the initial investment of $250 for 2 years is 1.5%. Thus, it earned a simple interest of $7.50
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viva [34]

Answer:

$4,800

Explanation:

Data provided in the question:

Cost = $66,000

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Book value = Cost - Accumulated depreciation

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Now,

Fair value = $48,000 + $12,000

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Thus,

Gain = $60,000 - $36,000

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Therefore,

Gain to be recognized = $24,000 × [ 12,000 ÷ 60,000 ]

= $4,800

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2 years ago
Define ATS and describe its use.. Why would large companies<br> use an ATS ?
elena55 [62]

Answer:

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7 0
1 year ago
Carly Company plans to depreciate a new building using the double declining-balance depreciation method. The building cost is $9
ahrayia [7]

Answer:

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Sergeeva-Olga [200]

Answer:

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Explanation:

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