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kati45 [8]
3 years ago
11

Carly deposited $800 in an account that earns 6% compounded annually. Lara deposited $800 in an account that earns 6% simple int

erest. How much will each girl have in their account at the end of 10 years if they make no withdrawals or deposits?
Business
1 answer:
LiRa [457]3 years ago
7 0

Answer:

Carly will have $1,433 in her account at the end of 10 years.

Lara will have $1,280 in her account at the end of 10 years.

Explanation:

Simpe interest pays the simple trust on the principal amount. There is no reinvestment of interest.

In compounded Interest the Interest earned from the investment is reinvested and again interest on principal and interest amount reinvested is earned.

Carly Deposit balance

Principal amount = $800

Blance after 10 years = $800 ( 1+ 6% )^10 = $800 x 1.791 = $1,433

Lara Deposit balance

Principal amount = $800

Amount of Interest for 10 years = 800 x 6% x 10 = $480

Blance after 10 years = $800 + $480 = $1,280

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The financial statement that reports the changes in the retained earnings and common stock for a period of time is known as the.
Tamiku [17]

The statement of owner's equity—also called the statement of retained earnings—shows the change in retained earnings between the start and end of a period (e.g., a month or a year). The record reflects a company's solvency and financial position.

<h3>What are the three financial statements?</h3>

The earnings report , record , and statement of money flows are required financial statements. These three statements are informative tools that traders can use to research a company's financial strength and provide a quick picture of a company's financial health and underlying value.

What is the statement of retained earnings ?

Reports the way that net and the distribution of dividends affected the financial position of the company during the accounting period. the sum of the share of net income which is not paid to the shareholder as dividend. the aim of the retained earnings is reinvestment

Learn more about financial statement:

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8 0
1 year ago
MNCs can use their global presence toa. take advantage of underpriced labor services available in certain developing countries.
denis23 [38]

Answer:

a. take advantage of underpriced labor services available in certain developing countries.

b. gain access to special R&D capabilities residing in advanced foreign counties.

c. boost profit margins and create shareholder value.

d. avoid regulations and lower tax burdern

Explanation:

Multinational corporation is a company that operates locally in its home country and also aborad. It usually maintains a central office that coordinates business activities.

MNCs have various advantages which includes:

- taking advantage of lower priced labour in developing countries, for example some companies take advantage of cheap labour in China to produce their goods.

- when a company operates in an advanced economy it will take advantage of research and development there.

- regulations and tax burdens can be avoided by setting up manufacturing plants in countries with low regulatory policies.

- MNCs boost shareholder profits by taking advantage of their multiple locations to gain more profits.

7 0
3 years ago
Read 2 more answers
Select the appropriate reporting method for each of the items listed below.
Radda [10]

Answer:

        Items                   ---             Reporting Method

1 . Accounts payable - Current liability

2 . Current portion of long-term debt - Current liability

3 . Sales tax collected from customers - Current liability

4 . Notes payable due next year - Current liability

5 . Notes payable due in two years - Long-­term liability

6 . Advance payments from customers - Current liability

7 . Commercial paper - Current liability

8 . Unused line of credit - Disclosure note only

9 . A contingent liability that is probable likelihood of occurring within the next year and can be estimated - Current liability  

10 . A contingent liability that is reasonably possible likelihood of occurring within the next year and can be estimated - Disclosure note only

6 0
3 years ago
Gerald received a one-third capital and profit (loss) interest in XYZ Limited Partnership (LP). In exchange for this interest, G
olchik [2.2K]

Answer:

The appropriate answer is "$9,300".

Explanation:

The given values are:

FMV,

= $31,000

Adjusted basis,

= $15,500

Encumbered mortgage,

= $9,300

Now,

The Gerald's outside basis will be:

= Adjusted \ basis-Encumbered \ mortgage+Share \ of \ mortgage

On substituting the given values, we get

= 15,500 - 9,300+(\frac{9,300}{3})

= 15,500 - 9,300 + 3,100

= 18,600-9,300

= 9,300 ($)

7 0
3 years ago
Assume the price elasticity of demand (Ed) is 0.4 for gasoline in the long run. Some argue that we need a 50% reduction in gasol
dybincka [34]

Answer:

125%

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Let x = percentage change in price

o.4 = 50 / x

x = 125

7 0
3 years ago
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