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LekaFEV [45]
3 years ago
5

What is the simple interest of a loan for $1,000 with 5 percent interest after 3 years?

Business
2 answers:
tino4ka555 [31]3 years ago
4 0

$150 ---- gradpoint

Alex73 [517]3 years ago
3 0
Simple interest produces interest only over the initial amount.

So every year the interest will be $1000 * 5 / 100 = $50.

That is, after 3 years 3 * $50 = $ 150.

Simple interest does not take into account the reduction of the principal but calculates the interest over the same initial amount, in this case $1000.

So, the answer is $150, which is the result of $50 times 3.
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saveliy_v [14]

Answer:

$164,313.82

Explanation:

In this question we have to apply the present value formula i.e to be shown in the attachment

Provided that,  

Future value = $0

Rate of interest = 9%

NPER = 20 years

PMT = $18,000

The formula is shown below:

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4 0
3 years ago
Nancy would like to double the money in her retirement account in five years. According to the rule of 70, what rate of interest
frutty [35]

Answer:

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Explanation:

5 0
2 years ago
If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other e
Aleksandr [31]

As the output is increased or decreased, these (B) fixed costs remain unchanged.

<h3>What are fixed costs?</h3>
  • Fixed costs, also known as indirect costs or overhead costs in accounting and economics, are corporate expenses that are independent of the volume of goods or services generated by the business.
  • They are usually recurrent, such as monthly interest or rent.
  • These expenses are frequently capital expenses.
<h3>Explanation -</h3>
  1. Dependent refers to a variable that changes when other factors change.
  2. Fixed cost refers to a cost that doesn't change when the number of goods produced increases or decreases.
  3. Opportunity cost refers to the benefit that you would have received from the option that was not chosen.
  4. Marginal cost refers to the change in the cost when you produce an additional unit.
  5. According to this definition and as the statement refers to a cost that doesn't change.

Therefore, as the output is increased or decreased, these (B) fixed costs remain unchanged.

Know more about fixed costs here:

brainly.com/question/3636923

#SPJ4

Complete question:

If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other examples include executives' salaries, interest expenses, depreciation, and insurance expenses. As the output is increased or decreased, these _______ costs remain unchanged.

a. dependent

b. fixed

c. opportunity

d. marginal

5 0
1 year ago
. Zoe Corporation has the following information for the month of March: Purchases $ 92,000 Materials inventory, March 1 6,000 Ma
rodikova [14]

Answer:

1. Cost of goods manufactured = $150,500

2. Net income = $36,500

3. Total Inventory = $61,500

Explanation:

Requirement 1

                   Zoe Corporation

Schedule of cost of goods manufactured

     For the month ended March 31

Direct Materials:

Beginning Materials inventory             $6,000

Add: Raw materials purchases         <u>    92,000</u>

Raw materials available for use          $98,000

<u>Less: Ending Raw Materials                    8,000</u>

Direct materials used                          $90,000    

<u>Direct Labor                                           25,000</u>

Prime Cost                                          $115,000

<u>Factory overhead                                   37,000</u>

Total manufacturing cost                 $152,000

Add: Work in process, March 1              22,000

<u>Less: Work in process, March 31          (23,500)</u>

Cost of goods manufactured           $150,500

Requirement 2

                        Zoe Corporation

Income Statement for manufacturing company

            For the month ended March 31

Sales revenue                                                                $257,000

<em>Less: Cost of goods sold</em>

Beginning finished goods inventory           $   21,000

Add: Cost of goods manufactured (Req.1)   <u>  150,500</u>

<em>Finished goods available for sale                   171,500</em>

Less: Ending finished goods inventory     <u>     (30,000)</u>

<u>Cost of goods sold                                                            141,500</u>

Gross Profit                                                                     $115,500

<u>Less: Sales and administrative expenses                         79,000</u>

Net operating Income                                                    $36,500

Requirement 3

                        Zoe Corporation

                          Balance Sheet

                          As at March 31

Inventory:

Materials                           $8,000

Work-in-process               23,500

<u>Finished goods                 30,000</u>

Total Inventory                $61,500

Inventory consists of all the ending materials, ending work-in-process, and ending finished goods. All the ending items need to be shown in the balance sheet because those inventories will remain at hand at the end of the period.

5 0
3 years ago
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