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Alenkasestr [34]
3 years ago
7

A bank loaned out 19,000 part of it at 6% interest per year and the rest at 14% per year. if the interest recieved in one year t

otaled 2000 how much was loaned out at 6%
Business
1 answer:
Ksju [112]3 years ago
6 0
Let x be the part of 19,000 that was loaned out at 6% such that the remaining 19,000 - x was loaned out at 14%. The interest is calculated by the equation,

    I = P x i x n

where P is the principal amount, i is the interest, n is the number of years. Substituting the known values,

   2000 = (x)(0.06) + (19000 - x)(0.14)

The value of x from the equation above is 8250.

Hence, 8,250 was loaned out at 6%. 
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Answer:

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2 years ago
Corporation includes $200,000 of $1 par common stock and $400,000 par of 6% cumulative preferred stock. The board of directors o
vlabodo [156]

Answer:

The amount of dividends paid to common stockholders in 2021 $18000.

Explanation:

The cumulative preferred stock is the stock that accumulates dividends when the dividends are partially or not paid at all in a certain year. The dividends must be paid in the future.

The common stock holders are paid after the preferred stockholders are paid.

The preferred stock dividend per year = 400000 * 0.06 = $24000 per year

As the cash dividends paid in 2019 and 2020 are $20000 each,

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4 0
2 years ago
Economists differ in their views of the role of the government in promoting economic growth. At the very least, the government s
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Answer:

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Explanation:

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7 0
3 years ago
Saturn Industries purchased and consumed 64,000 gallons of direct material that was used in the production of 17,000 finished un
Nikitich [7]

Answer:

The actual price = $1.08

Explanation:

The standard material price can be worked out as follows:

<em>Step 1: Work out the standard price of material  using the material usage variance</em>

Standard price = Material usage variance/(standard quantity of material - actual quantity)

Standard quantity of material = standard qty per unit × actual production

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Standard price =  2,800/(68,000-64,000)= $0.7

<em>Step 2 : Work out the Actual material price using the material price variance</em>

Material price variance = (Standard price - Actual price )× Actual quantity of material

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6400 = 17,000y  - 11,900

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The actual price = $1.08

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3 years ago
You are comparing two investment options. The cost to invest in either option is the same today. Both options will provide you w
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Answer:

Option A is the better choice of the two given any positive rate of return.

Explanation:

5 0
2 years ago
Read 2 more answers
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