it would be a as a team I hope this helps
Answer:
The answer is: If Orion wants to have $3,000 in two years, he must invest $2,572.02 today
Explanation:
To determine how much money Orion has to invest today in order to have $3,000 in two years, considering he will get an 8% compound interest rate, we can use this formula:
P = FV / (1 + r)²
Where:
P = $3,000 / (1 + 8%)²
P = $3,000 / 1.1664
P = $2,572.02
Answer: $2,750
Explanation: This is a simple interest problem, we calculate thus:
Principal = $2,500
Time = 5 years
Rate = 2%
Formula:
I = (P x R x T)/100
I = (2,500 x 2 x 5)/100
I = 25,000/100
I = 250.
Therefore the amount that will be owed at the end of 5 years is:
$2,500 + $250 = $2,750.
Answer:
1,C. Fixed
2.D. Variable
Explanation:
A fixed-rate loan has an interest rate that doesn't change throughout the life of the loan. Because the rate remains the same for the entire term, the monthly loan payment shouldn't change, resulting in a relatively low-risk loan. As you compare loan options, note whether or not loans feature fixed rates
.A floating interest rate, also known as a variable or adjustable rate, refers to any type of debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument.
Answer:
On October 15
Travel expense $39
Delivery Expense $138
Office expense $214
Petty cash ($1000 - $400) $600
Cash over and short ($400 - $39 - $138 - $214 - $16) $7
To Cash $984
(Being the replenishment of the petty cash fund is recorded)
Explanation:
The journal entry is shown below:
On October 15
Travel expense $39
Delivery Expense $138
Office expense $214
Petty cash ($1000 - $400) $600
Cash over and short ($400 - $39 - $138 - $214 - $16) $7
To Cash $984
(Being the replenishment of the petty cash fund is recorded)
For recording this journal entry we debited the all expenses incurred plus the petty cash is also debited and cash is credited and the remaining balance is transferred to the cash over and short
