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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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The transactions of Spade Company:
diamong [38]

Answer:

Trial Balance

                                                                                                    Debit     Credit

Cash                                                                                           $8,982

($16,500 - $479 + $1,947 - $9,125 - $530 + $1,469 - $800)  

Common Stock                                                                                        $16,500

Office Supplies                                                                             $479

Office Equipment                                                                      $9,125

Accounts Payable ($9.125 - $9,125)                                                            $0

Service Fees ($1,947 + $3,498)                                                               $5,445

Accounts Receivable ($3,498 - $1,469)                                  $4,967

Rent Expense                                                                              $530

Dividends                                                                                    $800

Totals                                                                                        $21,945  $21,945

Explanation:

A trial Balance is a list of balances that are extracted from the ledger accounts  from which the financial statements are prepared.

First Record the Transaction, then determine account balances.

a.

Cash $16,500 (debit)

Common Stock $16,500 (credit)

b.

Office Supplies $479 (debit)

Cash $479 (credit)

c.

Office Equipment $9.125 (debit)

Accounts Payable $9.125 (credit)

d.

Cash $1,947 (debit)

Service Fees $1,947 (credit)

e.

Accounts Payable $9,125 (debit)

Cash $9,125 (credit)

f.

Accounts Receivable $3,498 (debit)

Service Fees $3,498 (credit)

g.

Rent Expense $530 (debit)

Cash $530 (credit)

h.

Cash $1,469 (debit)

Accounts Receivable $1,469 (credit)

i.

Dividends $800 (debit)

Cash $800 (credit)

5 0
3 years ago
You are a leader in a paper manufacturer that has recently been charged with using too many trees and polluting groundwater arou
goldfiish [28.3K]
I am the leader of a manufacturer of labor and basically how can i help my environment well at first i would only use the necessities that i need to use. i wouldn't really go over board on a product. recyclables always do help in our environment as well.
5 0
3 years ago
Encouraging users to click a like button is an example of which step in the social marketing process? fan acquisition brand stre
WINSTONCH [101]

The answer is amplification. This occurs when your product is shared, either over organic or compensated commitment, within social marketing networks thus accumulating your word-of-mouth publicity. Amplification carry out by assimilating your message endorsed (amplified) over and done with workers, clienteles, business partners, admirers and influencers.

5 0
3 years ago
Which of the following is true?a. It is possible for total utility to rise as marginal utility falls. b. Marginal utility is the
Serga [27]

Answer:

The correct answer is letter "D": A and C.

Explanation:

Utility is the satisfaction or joy an individual perceives by consuming a given good or service. Marginal utility is the satisfaction perceived by consuming one more unit of a good or receiving a service one more time. Total utility is the aggregate utility as a result of adding the number of goods or services consumed.

<em>When marginal utility starts falling, total utility could still be rising since even if the consumer is not enjoying the same way the consumption of a good the individual is still adding more units to the consumption. However, there will a point in which the consumption of the good will not represent any satisfaction to the individual not adding more units anymore, thus, total utility starts dropping.</em>

6 0
3 years ago
An economist doing an analysis on the market for original paintings finds that a 7% increase in price will lead to an increase i
pshichka [43]

Answer:

The price elasticity of supply is 1.42.

Explanation:

The price elasticity of supply is the measure of the degree of responsiveness of quantity supplied to a change in price. It is the ratio of proportionate change in quantity supplied and proportionate change in price.

An economist doing an analysis on the market for original paintings finds that a 7% increase in price will lead to an increase in the quantity supplied by 10%.

Price elasticity of supply

= \frac{\% \Delta Qs}{\% \Delta P}

= \frac{10}{7}

= 1.42

3 0
3 years ago
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