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Alja [10]
3 years ago
5

Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $1,800 in the bank and leave it there: (Do not ro

und intermediate calculations. Round your answers to 2 decimal places.)
a. How much interest will you earn in the first year?
b. How much interest will you earn in the second year?
c. How much interest will you earn in the 10th year?
Business
1 answer:
klasskru [66]3 years ago
5 0

Answer:

A. $54

B. 55.62

C. $70.46

Explanation:

The formula for calculating compound interest is

FV = P (1 + r ) ^n

FV = Future value

P = Present value

R = interest rate

N = number of years

A. $1,800 (1.03) = $1854

Interest rate = $1854 -$1,800 = $54

B. $1,800 (1.03)^2 = $1,909.62

Interest rate = $1,909.62 - $1854 = $55.62

C. $1,800 (1.03)^10 = $2,419.05

To service the interest rate, we have to determine the future value in year 9

$1,800 (1.03)^9 = $2,348.59

Interest rate = $2,419.05 - $2,348.59 = $70.46

I hope my answer helps you

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C. Opening a bank. 

Because your opening up an bank account, therefore you not using any kind of money, or credit. UNTIL you put something inside the account. 

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Which characteristics should a nurse focus on to become an effective transformational leader?
meriva

Effective communication is a critical component of successful transformational leadership in nursing.

Open, sincere communication is necessary for personnel to understand their responsibilities and the objectives they are working toward. A nurse leader's commitment to others, including the staff, families, and patients, demonstrates to others that she or he is not only in a leadership position for personal gain but also for the benefit of those being led.

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6 0
2 years ago
Vasudevan Inc. recently reported operating income of $2.75 million, depreciation of $1.20 million, and had a tax rate of 40%. Th
exis [7]

Answer:

Free cash flow = $2.25 million.

Explanation:

We know,

Free cash flow = Operating income ×( 1 - tax rate) + depreciation - net working capital.

Given,

free cash flow = ?

Operating income = $2.75 million

tax rate = 40%.

depreciation = $1.20 million.

net working capital = $0.6 million.

Putting the values into the formula, we can get

Free cash flow = [Operating income ×( 1 - tax rate) + depreciation - net working capital] million.

Free cash flow = [$2.75 ×( 1 - 40%) + $1.20 - $0.6] million.

Free cash flow = ($2.75 × 0.6 + $1.20 - $0.6) million.

Free cash flow = ($1.65 + $1.20 - $0.6) million.

Free cash flow = ($2.85 - $0.6) million.

Free cash flow = $2.25 million.

6 0
2 years ago
Task identity refers to: Group of answer choices the degree to which a job entails a variety of different activities, requiring
SVETLANKA909090 [29]

Answer:

the degree to which a job requires completion of an identifiable piece of work with a visible outcome.

Explanation:

According to the  Job Characteristics Model by Hackman and Oldham (1980), jobs have 5 important characteristics

<h3>The characteristics include : </h3>

1. Task identity : It involves an employee carrying out a job function from the beginning to the end rather than in bits and pieces. It involves the the degree to which a job requires completion of an identifiable piece of work with a visible outcome. Job satisfaction is higher when an employee is about to complete the whole task and not just a part of the task.

2. Task significance : the degree to which a job done impact the lives of people. They can include individuals in the organisation or in the society

3. Autonomy : the degree to which a job provides independence and discretion to an individual in scheduling the work and determining the procedures to use.

4. Feedback : the degree to which an employee receives report on the work or functions carried out in the organisation

5. Skill variety : the degree to which a job entails a variety of different activities, requiring the use of different skills and talents

4 0
3 years ago
Exercise 25-3 Stefani Company has gathered the following information about its product. Direct materials: Each unit of product c
katovenus [111]

Answer:

Total standard cost per unit= $71,41 unit

Explanation:

Standard cost is the sum of direct materials, direct labor, and manufacture overhead.

Direct materials:

Each unit of the product contains 3.40 pounds of materials.

The average waste and spoilage per unit produced under normal conditions is 0.10 pounds.

Materials cost $2 per pound, it takes a 5.00% cash discount.

Freight costs $0.45 per pound.

Direct materials= (3,4+0,10)*(2*0,95)+ (0,45*3,5) =$8,20unit

Direct labor:

Each unit requires 2.80 hours of labor.

Setup, cleanup, and downtime 0.10 hours per unit.

The average hourly pay rate of Stefani’s employees is $13.10.

Payroll taxes and fringe benefits are an additional $3.00 per hour.

Direct labor=($13,10*2,9hours)+($3*2,9hours)=$46,69 unit

Manufactured overhead:

Overhead is applied at a rate of $5.90 per direct labor hour.

Overhead=$5,90*2,8hours=$16,52unit

Total standard cost per unit= 8,20+46,69+16,52=$71,41 unit

4 0
3 years ago
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