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
gregori [183]
3 years ago
6

Gordon rosel went to his bank to find out how long it will take for $1,200 to amount to $1,650 at 8% simple interest. calculate

the number of years. (round time in years to the nearest tenth.) number of years
Business
1 answer:
Pachacha [2.7K]3 years ago
3 0
The formula is
A=p (1+rt)
A future value 1650
P present value 1200
R interest rate 0.08
T time?
1650=1200 (1+0.08t)
Solve for t
Divide both sides by 1200
1650/1200=1+0.08t
Subtract 1 for both sides
(1650/1200)-1=0.08t
Divide both sides by 0.08
T=((1,650÷1,200)−1)÷0.08
T=4.69 years round your answer to get 5 years

Another way using the formula of simple interest
I=prt
I interest earned which can be found by subtracting the present value from the future value (A-p)=1650-1200=450.
P principle 1200
R interest rate 0.08
T time?
Solve the formula for t
T=I/pr
T=450÷(1200×0.08)
T=4.69 years round your answer to get 5 years

Hope it helps!
You might be interested in
In response to duracell's introduction of the duracell ultra battery, energizer introduced an advanced formula battery. but unli
erastovalidia [21]
No, because consumers equate quality of batteries with higher prices. With batteries consumers believe there is a price- quality relationship, it does not make the consumers, price insensitive. Also, there is no indication Energizer set a target price and adjusted cost and quality components to maintain wholesaler and retailer margins. 
6 0
3 years ago
Blain Company has $10,000 of accounts receivable that are current, $5,000 that are between 0 and 30 days past due, $3,000 that a
True [87]

Answer:

d. $1050.

Explanation:

We multiply each account balance by the expected uncollectible amount and then addd them to get the expected total for doutful accounts

\left[\begin{array}{cccc}Date&Amount&Expected&uncollectible\\$not due&10000&0.02&200\\$up to 30&5000&0.05&250\\$up to 60&3000&0.1&300\\$more than 61&800&0.5&400\\&&Total&1150\\\end{array}\right]

Balance of the allowance account:  100

The expense will be the adjustment made on the allowance to get the expected balance of 1,150

1,150 - 100 = 1,050

we increase the allowance bu 1,050 to get our expected uncollectible fro maccounts receivable agaisnt the bad debt expense ofthe period.

8 0
3 years ago
Cecelia's government provides for her basic needs. In return, Cecelia works in the factory downtown, as she always has since the
amid [387]
The choices can be found elsewhere and as follows:

<span>A. a market system
B. a planned system
C. a mixed system
D. none of the above

I think the correct answer is option B. </span>Cecelia's government can be considered a planned system. It <span>is an economic </span>system<span> in which inputs are based on direct allocation. Hope this answers the question. Have a nice day.</span>
5 0
3 years ago
A photocopier cost 96000 when new and has accumulated depreciation of 95000. if the business discards this plant asset, the resu
Semenov [28]

A photocopier cost 96000 when new and has accumulated depreciation of 95000. if the business discards this plant asset, the result is  $1,000.

Cost of photocopier        $    96,000.

Less: Accumulated depreciation   $  (95,000).

Loss on discard            $       1,000.

A photocopier (also known as a copier or copier, formerly Xerox machine, a generic trademark) is a machine that copies documents and other visual images onto paper or plastic film quickly and inexpensively.

The photocopier (also known as copier or copier, formerly Xerox machine, generic brand) is a machine that copies documents and other visual images onto paper or plastic film quickly and inexpensively. Most modern copiers use a technology called xerography. It is a dry process that uses the electrostatic charge of a photosensitive photoreceptor to first attract toner particles (powder) and then transfer them to paper in the form of an image.

Learn more about photocopier here: brainly.com/question/25307534

#SPJ4

3 0
1 year ago
All of the following are true of the real interest rate except it Is equal to the nominal interest rate minus the anticipated ra
Lynna [10]

Answer:

Equals the foreign exchange rate minus the inflation rate.

Explanation:

Nominal rate of interest refers to the interest rate which does not account for rate of inflation.

It is expressed as

Nominal interest rate = Real interest rate + rate of inflation

Real interest rate is considered to be a better measure since it is adjusted for rate of inflation.

Foreign exchange rate refers to exchange rate between two currencies which is based upon inflation and interest rates prevailing in the respective countries.

5 0
3 years ago
Other questions:
  • Grace wants to be an astronaut. Which of the following goals would be appropriate for her? I want to be an astronaut by age 30.
    14·2 answers
  • A. Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal co
    6·1 answer
  • What is a good college if i were to be an actor
    12·1 answer
  • North Company sells a single product. The product has a selling price of $30 per unit and variable expenses of 70% of sales. If
    6·1 answer
  • Jameson works for Fishy-Mart Corporation, a chain of superstores that sell large quantities of seafood. His job is to locate fut
    11·1 answer
  • Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explan
    14·1 answer
  • A researcher wanted to determine the mean number of hours per week (Sunday through Saturday) the typical person watches televisi
    9·1 answer
  • A line cook at a restaurant was inspired to become a chef, but he lacked the necessary training. The line cook asked the chef at
    7·1 answer
  • (PLEASE ANSWER FAST!!) (19 POINTS)
    13·1 answer
  • The following strategy(ies) could be used to sustain the value provided by an organization: Group of answer choices Run Strategy
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!