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Sedaia [141]
3 years ago
9

Paige deposited $200 into a bank that offers 3.3% interest rate, compounded daily. In how many years will her balance be $400?

Business
2 answers:
lapo4ka [179]3 years ago
5 0

Answer:

20.9 years

Explanation:

The equation for interested compounded daily is:

N=N_{0}*(1+\frac{i}{365})^{365*n}

Where 'N' is the final value, 'N0' is the initial value deposited, and 'i' is the interest rate, plugging in the given data:

400=200*(1+\frac{0.033}{365})^{365*n}\\2=1.00009^{(365*n)}\\log(2) = 365*n*log(1.00009)\\n= \frac{log(2)}{365*log(1.00009)}\\n= 20.9

It will take 20.9 years for her balance to reach $400

weeeeeb [17]3 years ago
4 0
C ~~~ APEX                                                    
APEXXXXX  

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Moe is an average worker stuck on a team of complacent workers. Nick is an innovator who produces triple the amount of the avera
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Answer:

Wyatt

Explanation:

High outcome interpendence is a concept that encourages cooperation between members on a team. It shows that if a team wins all members will benefit, and if the team fails all members will be adversely affected.

In this scenario Wyatt who is a slacker in the team of Nick will stand to gain more.

In a high outcome interpendence scenario Nick will be forced to improve on the performance of Wyatt in order to meet team objectives.

The other average workers will only gain a little from increased cooperation.

5 0
3 years ago
Best Deals, Inc. has 10 units in ending merchandise inventory on December 31. The units were purchased in November for $160 each
MrMuchimi

Answer:

$1,600

Explanation:

Best deals incorporation has a total of 10 units in the ending merchandise inventory on December 31

The units were bought in the month of November at a price of $160 for each unit

The replacement cost of the item is $162

Inventory is always recorded when the cost is low

Therefore, the amount that is to be reported as the merchandise inventory can be calculated as follows

=10 units × $160

= $1,600

Hence the amount reported as the merchandise inventory on the balance sheet is $1,600

4 0
3 years ago
1. The minimum age to receive a Class C drivers license is<br> A. 15<br> B. 16<br> C. 18
insens350 [35]
You would need to be at least 18 years old to hold a valid Ontario licence
4 0
3 years ago
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Patrick is a recent college grad and works full time. He lives in an apartment with his best friend. His share of the rent is $4
Firlakuza [10]

Answer:

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6 0
3 years ago
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The Perry Company reported Accounts Receivable, Net of $65,800 at the beginning of the year and $73,000 at the end of the year.
VikaD [51]

Answer:

28.6 days

Explanation:

Avg Receivables= Beg Receivables + Ending Receivables /2

=65,800+73,000/2

=$138,800/2

=$69,400

Receivable turn over= Net Sales/ Avg Receivables

=884,000/69,400

=12.74

days to collect during year= 365/ Receivable turn over =365/12.7

=28.6 days

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3 years ago
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