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larisa [96]
3 years ago
11

find the nominal annual rate of interest compounded monthly if $1200 accumulates to $1618.62 in years

Business
1 answer:
Gwar [14]3 years ago
7 0

Answer:

Nominal annual rate of interest(r) = 2.5% (Approx)

Explanation:

Given:

Present value (P) = $1,200

Future value (F) = $1,618.62.

Number of year = 1year = 12 months

Find:

Nominal annual rate of interest(r)

Computation:

Nominal annual rate of interest(r) = \sqrt[12]{\frac{1,618.62}{1,200} }-1

Nominal annual rate of interest(r) = \sqrt[12]{1.34885}-1

Nominal annual rate of interest(r) = 0.02525

Nominal annual rate of interest(r) = 2.5% (Approx)

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United Machining's margin was 2% and turnover was 3.0 on sales of $60 million for the year. On the basis on this information____
Hunter-Best [27]

Answer:

B, net income for the year was $1,200,000, average assets were $20 million, ROI was 6%

Explanation:

net income is calculated by multiplying the percentage margin by the sales. We have,

(2 ÷ 100) × $60,000,000

= 0.02 × $60,000,000

= $1,200,000

To calculate the average assets, sales is divided by the turnover.

we have, ($60,000,000 ÷ 3.0)

= $20,000,000.

To calculate the ROI, margin and turnover are multiplied.

we have,

(2% × 3.0) = 6%

Cheers.

3 0
3 years ago
Describe the final step in the adjusting process. The final step is to determine the correct balance of an account. The final st
Ket [755]

Answer:

The Final Step is 'post to a trial balance so financial statements can be prepared'

Explanation:

The accounting cycle has, in most theory analysis, 8 steps that will serve to record and process all financial transactions of a company, beginning at the transactions itself and ending at resetting the balance so a new cycle can begin. The steps are:

1) The occurrence of Financial Transactions

2) The record of those transactions in the company journal

3) The summary of all journal’s transactions in the general ledger

4) The calculation of a total balance for all accounts

5) The corrections of error in balances by the bookkeeper

6) The posting of adjustments in all accounts

7) The manufacture of financial statements using the correct balances

8) The close of revenue and expense accounts to open a new cycle

8 0
3 years ago
When there is low competition, firms can use a price strategy to recover research and development costs and make as much profit
aliina [53]

When a market is experiencing low competition, firms can recover research and development costs by using a skimming price strategy.

<h3>What is a skimming price strategy?</h3>

This refers to when companies sell goods at a high price because there isn't much competition.

As other suppliers enter the market and the competition increases, the companies will then reduce their prices.

Find out more on skimming prices at brainly.com/question/14228569

#SPJ1

7 0
2 years ago
Which of the following statements is false?
erastova [34]
A student loan is an award I think
3 0
2 years ago
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Your grand opening flyer should be
muminat

Answer:

Option A.

Explanation:

A flyer refers to a type of paper advertisement, which is normally used for wide distribution and it is spread by either handing it out manually in a public place, plastered on walls, or sent through the mail in order to create awareness and offer information about a business on a large scale.

In order for a flyer to be effective, it should have the following qualities:

1. A design that is simple and unique, with a language that is easy to understand.

2. Good use of the space on the flyer.

3. Relevant details about the business must be included.

4. Use of correct spelling and grammar, which must not be misleading.

From the explanations above, we can see that the correct option is A.

7 0
3 years ago
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