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likoan [24]
3 years ago
10

A student has a savings account earning 9% simple interest. She must pay $1400 for first-semester tuition by September 1 and $14

00 for second-semester tuition by January 1. How much must she earn in the summer (by September 1) to pay the first-semester bill on time and still have the remainder of her summer earnings grow to $1400 between September 1 and January 1? (Round your answer to the nearest cent.)
Business
1 answer:
IRINA_888 [86]3 years ago
7 0

Answer: The answer is $2,759.22

Explanation: From the question above, we have:

September 1st to January 1st is 4 months, this is 1/3 of a year which means that the student will earn:

=> 9/3 = 3%

3% interest for the money that is saved is the savings account. So the student must put in at least:

x + 3%x = 1400

x + 0.03x = 1400

1.03x = 1400

x = 1400 / 1.03

x = 1,359.22

Therefore, if the student saves $1,359.22 in the savings account By September 1st, she will have $1400 by January 1st.

Also, the student needs to make $1400 for the first semester. So overall she will need to make:

1,400 + 1,359.22 = $2,759.22 during the summer in order to ensure that she will have enough money to pay for both semesters.

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Klamath+corporation+has+asset+turnover+of+3.5,+a+profit+margin+of+5.2%,+and+a+current+ratio+of+0.5.+what+is+klamath+corporation'
NARA [144]

Klamath corporation has insufficient information to find ROE.

Return on equity (ROE) is the degree to of an agency's internet earnings are divided by using its shareholders' equity. ROE is a gauge of a corporation's profitability and how successfully it generates one's income. The better the ROE, the higher an employer is at changing its fairness financing into income.

ROE is used while evaluating the monetary performance of agencies within the identical enterprise. it's far a measure of the capability of management to generate earnings from the equity available to it. A go-back of between 15-20% is considered good.

The return on equity is a degree of the profitability of an enterprise with regard to fairness. Because shareholder's equity may be calculated with the aid of taking all belongings and subtracting all liabilities, ROE also can be the idea of a return on belongings minus liabilities.

ROE=Profit margin*Total asset turnover*Equity multiplier

Hence since Equity multiplier data is not given.

Learn more about ROE here: brainly.com/question/26849182

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4 0
2 years ago
Which of these statements best represents the law of supply? select one:
sweet [91]

c. when the price of a good decreases, sellers produce less of the good.

According to the law of supply, an increase in price results in an increase in quantity supplied. This means that there is a direct relationship between price and quantity:  Thus, when price of a good falls, sellers produce less


8 0
3 years ago
Prompt<br> What is the difference between liquid and illiquid assets?
Lynna [10]

Answer:

Liquid assets may be cash or property that can readily be converted to cash without a substantial loss in value. While on the other hand, Illiquid or fixed assets are possessions of value that are held long-term such as a home, land or equipment.

Hope this helps

4 0
3 years ago
Read 2 more answers
The responsibility report for the Augusta Division shows budgeted contribution margin of $2,000,000 and budgeted controllable fi
Mumz [18]

Answer:

D) is 20% above expectations.

Explanation:

The Augusta Division was supposed to earn a net profit of $1,000,000 (= $2,000,000 - $1,000,000). Since the division's manager and his/her team were able to cut reduce fixed costs to $900,000 and increase contribution margin to $2,100,000 (either by increasing selling price or reducing variable costs), then the division earned a net profit of $1,200,000 (= $2,100,000 - $900,000). This net profit is 20% higher than expected, therefore the manager's (and his/her team's) overall performance was 20% above expectations.

5 0
4 years ago
If a sign has a white background, it is most likely _____.
nexus9112 [7]

<u>Answer: </u>Safety instructions

<u>Explanation:</u>

Safety measures and instructions for safety everything has white back ground board. This increases the visibility of the board and has clarity for the viewers. These sign boards try to give information of things to be done to be safe.

Also the white background boards have letters in black that will increase the readability. These signboards can be seen in streets, highway, railways, airplanes etc. These signboards help to prevent unnecessary accidents and it is precautionary measure.

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