Ralph is estimating the cost of concrete to build a slab. The slab will have a length of 12 feet, a width of 9 feet, and a thick
1 answer:
You might be interested in
Answer:
(1) The annual interest rate is 10%, that is greater than 8%
(2) The annual interest is bigger than 22.47% and that is greater than 8%
Step-by-step explanation:
We have the equation:
Where I is the earns in interest, n is the number of years and r is the annual interest rate.
For the first case, we can replace I by $210 and n by 2 as:
Solving for r, we get:
So, for the first case, the interest rate paid by the bank is 10% and it is greater than 8%
For the second case, we need to take the equation and solve for r as:
So, for the second case the rate need to be bigger than 22.47% and that is bigger than 8%
The answers to the questions are:
- a. $33,750
- b. $36000
- c. $90000
a. <u>the straight-line method of depreciation</u>
= (240000 - 60000) / 4 * (9 / 12)
= $33,750
The debit is 33750 as well as the credit
b. <u> the units-of-production method of depreciation</u>
(240000 - 60000) / 60000 * 12000
= $36000
c. <u>the double-declining balance method of depreciation</u>
(24000 *2 /4) * (9/12)
= $90000
Read more on depreciation here: brainly.com/question/1203926
#SPJ1