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tester [92]
3 years ago
14

A small corporation borrowed $1,000,000 to expand its line of toys. Some of the money was borrowed at 7%, some at 8%, and some a

t 9%. How much was borrowed at each rate if the annual interest owed was $74,000 and the amount borrowed at 7% was five times the amount borrowed at 9%
Business
1 answer:
gizmo_the_mogwai [7]3 years ago
3 0

Answer:

$750,000 at 7%

$150,000 at 9%

$100,000 at 8%

Explanation:

Let 'S' be the amount borrowed at 7%, 'E' be the amount at 8% and 'N' be the amount borrowed at 9%. The following system of equations can be modeled with the given data.

S+E+N=1,000,000\\0.07S+0.08E+0.09N=74,000\\S=5N\\

Solving the system:

E+6N=1,000,000\\0.08E+0.44N=74,000\\\\-0.0909090E=-9,090.9091\\E=100,000\\N=\frac{1,000,000-100,000}{6}=\$150,000\\S=5*\$150,000=\$750,000

Therefore, the corporation borrowed $750,000 at 7%, $150,000 at 9% and $100,000 at 8%.

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Most manufacturing plants are considered cost centers because they have control over A. sales and costs. B. fixed assets and cos
Ierofanga [76]

Answer:

C. Costs Only

Explanation:

Cost centers are areas in an organization that doesn't add money (profit) directly to the organization, but still cost the organization operation money. They are departments in an organization is which cost are charged. Cost centers don't make profit for the organization directly, but they help in making profit indirectly for the organization. They are areas in a company that incurs cost but in indirectly contribute to income received. Example of a cost center is manufacturing plants. Cost centers have control over costs only.

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3 years ago
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A. Al Manara Company sells its single product for $ 30 per unit . The contribution margin ratio is 45%; and fixed costs are $ 10
Korolek [52]

Answer:

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Explanation:

8 0
2 years ago
Do you think that some people have difficulty talking to others face-to-face because of how prevalent texting is today? When you
denpristay [2]
Answer: I do think that people have difficulty talking to others face-to-face because of how prevalent texting is today. The reason for that is because we’ve gotten used to having time to think about our answer before sending our message. In general, there’s less pressure with texting than there is with face-to-face. You’re in front of the person you’re talking to and they’re able to monitor you closely, which could make some people uncomfortable and unable to think of anything to say. Another reason is because texting is able to be done without moving. It’s more convenient than meeting up with someone to discuss something.
7 0
3 years ago
Fill in the blank
gizmo_the_mogwai [7]

It's all part of promotions

8 0
3 years ago
The Southside Corporation budgeted 4,400 pounds of direct materials to make 2,600 units of product. The company actually used 4,
garik1379 [7]

Answer:

$3.75

Explanation:

As we already know that

Direct materials quantity variance = (Budged pounds of direct material  - Actual pounds of direct material) × Standard rate

$1,500 unfavorable  = (4,400 pounds - 4,800 pounds) × Standard rate

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So, standard rate is

= $1,500 ÷ $400

= $3.75

We simply applied the above formula

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3 years ago
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