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madreJ [45]
3 years ago
11

​enrique borrowed $3600 to put a down payment on a motorcycle. the loan had a simple interest rate of 8% for 2 years. use the fo

rmula i = prt to find the amount of interest he will pay on the loan. i = interest; p = principal; r = rate (expressed as a decimal 0.08); t = time in years.
Business
1 answer:
Rudik [331]3 years ago
6 0

Answer:

The amount of interest is $576.

Step by step explanation :

Given : ​Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years.

To find : The amount of interest he will pay on the loan.

Solution : Using the formula,

I=P\times R\times T

Where, I= Interest , P=principal , R= rate, T=time in years

We have given that :

P=$3600

R=8%=0.08

T=2 years

Substitute value in the formula to find interest,

I=P\times R\times T

I=3600\times 0.08\times 2

I=576

Therefore, The amount of interest is $576.

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Two traditional economies are trying to industrialize. The leaders of the first favor a command economic system. The leaders of
attashe74 [19]

Answer:

In the country that promotes free-market economy is expected to start seeing firms arriving in this country and invest in those activities where this country has a comparative advantage.

Explanation:

This would lead to an efficient allocation of productive resources taking the economy to optimum production. The technology and tools will rapidly spread, and the industrialization process will be achieved. In the other country, investment and technology implementation is lead by the government allocating resources inefficiently and delaying industrialization.

8 0
3 years ago
Bryce Co. sales are $801,000, variable costs are $465,100, and operating income is $287,000. What is the contribution margin rat
KATRIN_1 [288]

Answer:

Contribution margin ratio= 0.42

Explanation:

Giving the following information:

Bryce Co. sales are $801,000

Variable costs are $465,100

Operating income is $287,000.

<u>To calculate the contribution margin ratio, we need to use the following formula:</u>

contribution margin ratio= (sales - variable cost) / sales

contribution margin ratio= (801,000 - 465,100) / 801,000

contribution margin ratio= 0.42

8 0
3 years ago
The theory of purchasing power parity assumes that.
Maurinko [17]

PPP is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

<h3 /><h3>What is purchasing power parity?</h3>

Purchasing power parity (PPP) is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

It uses the prices of specific goods to compare the absolute purchasing power of currencies and, to some extent, the living standards of their people.

Therefore the above statement explains the purchasing power parity.

Learn more about purchasing power parity here:

brainly.com/question/2286004

#SPJ1

5 0
2 years ago
How does microfinance benefit an economy?​
JulsSmile [24]

Answer:

it enables people to use money wisely

Explanation:

this is because a specific amount of money will be provided for a specific reason

3 0
2 years ago
g Corporation's cost formula for its bungalow operating cost is $2,960 per month plus $326 per day. For the month of December, t
Advocard [28]

Answer: $942 U

Explanation:

Budgeted cost was $2,960 per month plus $326 per day and there were 18 days of actual activity.

Budgeted cost = 2,960 + 326 * 18

= $‭8,828‬

Variance = Budgeted cost - Actual cost

= ‭8,828‬ - 9,770

= -$942

Budgeted cost is less than Actual cost which means the Variance is UNFAVORABLE.

5 0
2 years ago
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