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
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
You might be interested in
Based on these​ findings, what can we predict about total production long dash whether or not that production is included in the
Naily [24]

Answer:

If the workers had been paying other people to perform the household activities prior to unemployment, then total production will fall.

Explanation:

7 0
2 years ago
Money is to an economy what language is to communication. What does this statement mean?
Tasya [4]

Answer:

What does economy of language mean?

Explanation:

The economics of language is an emerging field of study concerning a range of topics such as the effect of language skills on income and trade, and the costs and benefits of language planning options, preservation of minority languages, etc. Language can be an expression of symbolic power.

8 0
3 years ago
Pam and Lennyâs ice cream shop charges $1.6 for a cone. Variable expenses are $0.35 per cone, and fixed costs total $2,200 per m
Andrei [34K]

Answer:

Pam and Lenny's Ice Cream Shop

a. The effect of the promotion on operating income for the second week of February is an increase by $350.

b. The promotion should occur.  The shop will make additional operating income of $350 within the second week.  And there will be spillover positive effects during the coming weeks after the promotion.

Explanation:

a) Data and Calculations:

Selling price per cone of ice cream = $1.60

Variable expenses = $0.35

Contribution = $1.25

Fixed costs per month = $2,200

Additional sales from the promotion = 650 cones

Revenue from additional sales = $1,040.00 ($1.60 * 650)

Variable cost                                     227.50 ($0.35 * 650)

Cost of promotions:

Giveaways                                        297.50 ($0.35 * 850)

Advertising costs                              165.00

Total costs                                      $690.00

Additional income                          $350.00

6 0
3 years ago
A company issues $60,000 of 6%, 5-year bonds dated January 1 that pay interest semiannually on June 30 and December 31 each year
bekas [8.4K]

Answer:

Decrease, $2,000

Explanation:

The premium on bonds payable will <u>decrease </u>total interest expense recognized over the life of the bond by <u>$2,000</u>. The difference between the face value & the issue value $2,000 ($62,000 - $60,000) should be amortize over a period of time and of which is reduced from interest expense.

6 0
2 years ago
Marginal productivity theory assumes that a worker’s income is a function of the contribution of that worker to the value of the
Dmitriy789 [7]

Marginal productivity theory assumes that a worker’s income is a function of the contribution of that worker to the value of the output. in business, this is called the "value-added" approach.

There is a correct theory called marginal productivity theory. Wages are paid at a level equal to the marginal revenue product of labor, the MRP (value of the marginal product of labor). MRP is the increase in income caused by the increase in output produced by the last employed worker.

The marginal productivity theory of income distribution proposes that each individual should receive income based on their contribution to total output. The marginal productivity theory of income distribution has been criticized for the following reasons. Income from inheritance is inconsistent with the theory.

Learn more about Marginal revenue here: brainly.com/question/13617399

#SPJ4

7 0
2 years ago
Other questions:
  • Report the effects for each of the following independent transactions using the financial statement effects template provided Ba
    9·1 answer
  • County A received equipment that was of a lesser capacity than requested from County B (their mutual aid partner). What best pra
    8·1 answer
  • Last​ year, the price of steak was ​$4 per pound and the price of salmon was ​$5 per pound.       This​ year, the price of steak
    9·1 answer
  • MagTech Inc. requires funding to build a new factory and has decided to raise the additional capital by issuing $850,000 face va
    15·1 answer
  • Material delays have routinely limited production of household sinks to 400 units per day. If the plant efficiency is 80%, what
    12·1 answer
  • The two major forms of employee involvement are participative management and ________. 1. job sharing 2. job rotation 3. represe
    13·1 answer
  • How is time like money? I have to write 3 paragraphs over how time is like money.
    9·1 answer
  • Schuepfer Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 3,100 units ar
    9·1 answer
  • Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for
    6·1 answer
  • The sales returns and sales allowances accounts are classified as
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!