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Alja [10]
3 years ago
12

Suppose that $ 5 000 is invested at 3.9 % annual interest​ rate, compounded monthly. How much money will be in the account in​ (

A) 8 ​months? (B) 24 ​years?
Business
2 answers:
abruzzese [7]3 years ago
6 0

Answer:

A. $6,333.85

B.  $10,163.97

Explanation:

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

Where:

A     = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

Therefore in 8 months

P = $5000

r = 3.9%

n = 1

t = 8 months

A= P (1+r/n)^nt = 5000 x (1+(0.03/1)^1 x 8 = $6,333.85

Therefore in 24 months

P = $5000

r = 3.9%

n = 1

t = 24 months

A= P (1+r/n)^nt = 5000 x (1+(0.03/1)^1 x 24 = $10,163.97

BlackZzzverrR [31]3 years ago
4 0

Answer:

(A) $5,131.5

(B) $12,729.5

Explanation:

The interest earned on the value of interest earned before is the compounded interest. Compounding is the reinvestment of the amount earned before and take return over it too.

As per given data

Invested amount = $5,000

Interest rate = 3.9%

Interest is compounded monthly

Monthly rate = 3.9% / 12 = 0.325%

Formula for the accumulated amount of investment

A = P ( 1 + r )^n

Accumulated Money when $5,000 is

(A) Invested for 8 months

A =  $5,000 ( 1 + 0.325% ) ^8

A = $5,131.5

(b) Invested for 24 years or 288 months (24 x 12)

A =  $5,000 ( 1 + 0.325% ) ^288

A = $12,729.5

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Explanation:

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Ending WIP will therefore be:

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Stage of completion is based on Conversion.

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4,400 = 3,500 + (x% * 1,500)

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x = 900/15

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Would you expect holding cost to go down with increases in maximum capacity?
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Answer:

March 15                 Debit                Credit

Dividends                $22,470,000

Dividends Payable                         $22,470,000

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April 13

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Cash                                                 $22,470,000

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March 15                 Debit                Credit

Dividends                $22,470,000

Dividends Payable                         $22,470,000

March 30     No entry

April 13

Dividends Payable   $22,470,000

Cash                                                 $22,470,000

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Explanation:

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