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Irina18 [472]
3 years ago
13

Background Info: Tom finds a second personal loan option. This loan would also require him to repay the principal in one lump su

m after three years.
Loan Option B

Principal: $9,000

Type of Interest: Compound Interest

Interest Rate: 8%

Rate of Accrual: Once per year

Use the formula for annual compound interest.

A = P (1 +r/n )^nt

Remember, A refers to the total amount owed.

Calculate the total amount that Tom would repay.

$10,337
$11,337
$12,337
$13,337
Business
2 answers:
Lana71 [14]3 years ago
8 0

Answer

The total Amount that Tom would pay is B.$11337

Explanation

The formula for annual compound interest is ;

A=P(1+r/n)^nt

A=total amount owed

P=principal, $9000

r=rate

t=3years

A=9000(1+8/100)^3

A=$11337



vlada-n [284]3 years ago
5 0

The total amount that Tom would pay is

B) $11,337

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4 0
3 years ago
Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Federal inco
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Answer:

Net pay is  $383,750

Explanation:

Hermandez builders net pay can be computed by deducting the following from the gross payroll amount:

Federal income taxes

social security

medicare

charitable contributions

union dues

The net pay is computed thus:

Gross payroll pay                                                      $500,000

Federal income taxes                              $63,000

Social security                                          $31,000

medicare                                                  $7,250

charitable contributions(1%*$500000)  $5,000

union dues (2%*$500000)                     $10,000    

                                                                                ($116,250)

Net pay                                                                     $383,750  

3 0
3 years ago
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,988. The
cluponka [151]

Answer:

$6,809.04

Explanation:

Calculation to determine what her net pay for the month is

Gross Pay (a) $8,988

Less: Deductions

Social Security Tax $557.26

($8,988 * 6.2%)

Medicare Tax $130.33

($8,988 * 1.45%)

Federal income Tax $1,491.37

Total Deductions (b) $2,178.96

Net Pay (a-b) $6,809.04

($8,988-$2,178.96)

Therefore her net pay for the month is $6,809.04

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2 years ago
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Explanation:

Given:

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Beginning inventory = $160,000

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Inventory turnover = 6 times

Wilkens' days in inventory for 2017 = ?

Computation of Wilkens' days in inventory for 2017:

Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover

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Wilkens' days in inventory for 2017 = 60.833

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the elimination of competition

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