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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!
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Answer:

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Explanation:

Given:

Q = 24 – 2 P

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Q = 24 - 2(4)

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Now,

Elasticity = \frac{\textup{dQ}}{\textup{dP}}\times\frac{\textup{P}}{\textup{Q}}

on substituting the respective values, we get

Elasticity = \frac{\textup{d(24 – 2 P)}}{\textup{dP}}\times\frac{\textup{4}}{\textup{16}}

or

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or

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Since,

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option (c) inelastic

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3 years ago
If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account which had been writte
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Answer:

Please post the full question together next time.

If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on March 1, the entry to reinstate the account under the direct write-off method would include:______.

a. a debit to Allowance for Doubtful Accounts of $3,650.

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Explanation:

Under the direct write-off method ,

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(Being the bad debt expense is recorded)

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Answer:

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Explanation:

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