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TiliK225 [7]
3 years ago
8

How many days will it take for $1500 to earn $16 interest if it is deposited in a bank paying simple interest at the rate of 4%/

year? (Use a 365-day year. Round your answer up to the nearest full day.)
Business
1 answer:
JulsSmile [24]3 years ago
8 0

Answer:

97 days

Explanation:

In simple interest method, the interest is calculated by the following formula

I= P x R x T

I= interest

P = principal amount

R =interest rate

T= Time

In this case

I=$16

P=$1500$

R= 4% or 0.04%

T= time

$16= $1500 x 0.04 x Time

$16 =60 x Time

Time = 16/60

time = 0.2666 year.

time in days =  0.26666 x 365 days

=97.333 days

=97 days

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How does a merchandising business act as a collection agency for the state government?
ExtremeBDS [4]

Answer:

Charging Sales tax

Explanation:

Merchandising business is the kind of business, that buys or purchases the finished products and then resells them to the customers.

So, the merchandising business could act as a collection agency for the government through charging the sales tax. There is need to remit the government after collecting the tax and when it is done, the business will decrease the cash and the sales tax liability.

And it is the lability to the government until it is remitted by the business.

5 0
3 years ago
A 1-year gold futures contract is selling for $1,645. Spot gold prices are $1,592 and the 1-year risk-free rate is 3%. The arbit
stealth61 [152]

The arbitrage profit implied by these prices is $5.24.

<h3>Arbitrage profit</h3>

Given:

Future contract= 1645

Sport gold price = 1592

Risk-free rate (rf) = .03

Hence:

Arbitrage profit=1645-[1592(1+1.03)¹]

Arbitrage profit=1645- 1639.76

Arbitrage profit=1645 =$5.24

Therefore the arbitrage profit implied by these prices is $5.24.

Learn more about  arbitrage profit here:brainly.com/question/15394730

#SPJ1

5 0
1 year ago
23. The three steps of project management are _____.
Mrrafil [7]

Answer:

The correct answer is letter "B": creating the work plan, staffing the project, and controlling and directing the project.

Explanation:

Project Management is a discipline that comprehends the organization, planning, motivation, and control of a company's resources to reach objectives established to achieve success in one or many projects within the limits of the corporation.

The main three steps in every project management include project initiation -<em>plan creation</em>, staffing the project -<em>recruiting and selecting project members</em>, and controlling and directing the project -<em>monitoring the project progress</em>.

4 0
3 years ago
Ajax Inc. was formed on April 25 and elected a calendar year for tax purposes. Ajax paid $11,800 to the attorney who drew up the
Step2247 [10]

Answer: $5416.64

Explanation:

Based on the information given, $5000 will be deducted from its organizational cost of $17500, and we'll have $12500. Then, the capitalized cost over 6 months that's 180 days will be:

= Non deductible cost / 180 months

= $12500 / 180

= $69.44 per month

Since Ajax Inc began operation in July, the ammortization will be:

= $69.44 × 6 months

= $416.64

The amount that Ajax can deduct from its $17,500 organizational costs on its first tax return will be:

= $5000 + $416.64

= $5416.64

4 0
3 years ago
A trade surplus occurs when the value of imports is__________. A. less than the value of exports. B. government spending is less
Reika [66]

Answer: Option A

         

Explanation: In simple words, trade surplus refers to the economic condition under which a country's value of goods sold to other countries, that is, exports is greater than the value of goods it purchases from other countries ,that is, imports.

Trade surplus is seen as a positive indicator of economic growth as a country in surplus will behaving more money to invest in public core services and wont be spending their tax collections on interest and loans taken by international assignations such as IMF or world bank.

Hence from the above we can conclude that the correct option is A.

5 0
3 years ago
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