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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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On January 1, $5,000,000, 10-year, 10% bonds were issued at $5,200,000. Interest is paid annually each January 1. The straight-l
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Answer:

$20,000 premium is amortized at the end of the first year.

Explanation:

Straight line amortization:

premium amortized = Premium / number of years

                                 = ($5,200,000 - $5,000,000) / 10 years

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Therefore, $20,000 premium is amortized at the end of the first year.

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2 years ago
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tatyana61 [14]

Answer:

Instructions are below.

Explanation:

Giving the following information:

The variable cost is $60 per SSH and the fixed cost is $2,000,000 per year. The firm charges $100 for each service per hour. Assume the maximum hours the firm operates (that is the output) is 170,000 per year.

1) To calculate the break-even point, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 2,000,000/ (100 - 60)

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2) %of hours= (50,000/170,000)*100= 29.41%

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The number of units required to cover for fixed costs diminished by 20%.

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3 years ago
You are Chair of the Federal Reserve Board. In your meeting with the Federal Open Market Committee, the committee un-animously v
ivolga24 [154]

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<u>Option: A</u>

<u>Explanation:</u>

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Answer:

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Answer:

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7 0
3 years ago
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