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3 years ago

A higher level of interest income can be received if a savings account offers a promotional rate.

1 answer:

4 0

True. One would get the regular stated interest rate plus the additional promotional rate. Thus one would recieve a higher income via the savings rate.

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Joanne and ed greenwood built a new barn with an attached arena. to finance the loan, they paid $1,307 interest on $45,000 at 4.

nikitadnepr [17]

Answer: The loan was taken for 265 days.

We arrive at the answer as follows:

First we find the ratio of interest paid to the total loan amount to determine the interest rate:

Interest paid = $1,307

Loan Amount = $45,000

$\frac{Int paid}{Loan amount} = \frac{1307}{45000} = 0.029044444$

Since the interest rate calculated above is less than the annual interest rate at 4%, we conclude that the loan taken was for a period of less than one year.

We can determine the period for which the loan was taken as follows:

Let 'x' be the time for which the loan was taken.

We need to solve for x in the proportion below

0.04 : 365 :: 0.029044444:x

Solving we get,

$\frac{0.04}{365} = \frac{0.029044444}{x}$

$x = \frac{0.029044444 * 365}{0.04}$

$x = 265.0305556$

8 0

3 years ago

Highlight four ways of improving productivity of labour as a factor of production

UNO [17]

Answer:

Following are the four ways for improving the productivity of the labour is given below

Explanation:

If we give the proper resource assignment to each worker at the proper time we will increase the productivity of the labor .
Increasing the skills by guiding the labor to the latest technology so they know the latest or the current technology they will increase the productivity .
If we enhancing the physical capital it means if we dependent on the machinery they will increase the productivity .
Giving the incentive to labor at the particular interval of time we will increase the productivity.

3 0

3 years ago

Blue Co. has a patent on a communication process. The company has amortized the patent on a straight-line basis since 2014, when

raketka [301]

Answer:

Appropriate patent amortization expense = $10 million

Explanation:

As per the data given in the question,

Annual amortization expense = Cost ÷ Time

= $36 ÷ 9

= $4 million

Year 2018 Amortization Expense 4 Years = $4 million × 4

= $16 million

Unamortized cost = $36 million - $16 million

= $20 million

Year 2018 Amortization expense 4 years = $20 million ÷ 2

= $10 million

7 0

2 years ago

On January 1, 2020, Waterway Company purchased 11% bonds, having a maturity value of $312,000 for $336,270.95. The bonds provide

mafiozo [28]

Answer and Explanation:

The journal entries are shown below:

1. 11% bonds payable $336,270.95

To cash $336,270.95

(Being the bond purchased for cash is recorded)

2. Cash ($312,000 × 11%) $34,320

To Interest revenue ($336,270.95 × 9%) $30,264

To 11% bond payable $4,056

(Being the interest revenue is recorded)

Fair value adjustment $1,685.05

To Unrealized gain $1,685.05

(Being the recognition of fair value is recorded)

It is computed below:

= (333,900 - ($336,270.95 - $4,056) )

3. Unrealized gain $13,000 ($333,900 - $320,900)

To fair value adjustment $13,000

(Being the recognition of fair value is recorded)

8 0

3 years ago

Which of the following events would cause a rightward shift of the AD curvea rightward shift of the AD curve, other things bein

Karolina [17]

Answer: C. There has been a decline in the foreign exchange value of the nation’s currency.

Explanation:

The Demand curve of a country can be written as an equation which is

C+I+G+(X-M)

C is consumption, I is investment, G is government expenditure, X is exports, M is imports and X-M is net exports.

When ever consumption, investment, government expenditure or net exports increase the demand curve shifts to the right and whenever they decrease the demand curve shifts to the left.

In this case when the value of the currency foreign exchange declines, the country reduce its imports because they are now more expensive as your currency's value is declining and the exports will increase because they will now be cheaper to foreign buyers as their currency is now gotten stronger. This decrease in imports and increase in exports will increase net exports and an increase in net exports will shift the demand curve to the right

8 0

3 years ago