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Nookie1986 [14]
3 years ago
13

Diane initially deposited $12,500 into a money market account and made no additional deposits or withdrawals. When she closed th

e account in exactly one year, its value had grown to $12,985. Calculate the annual growth rate for the money market account. Round your answer to two places after the decimal.
Business
2 answers:
andrey2020 [161]3 years ago
5 0

Answer:

The annual growth rate is 3.88%

Explanation:

The annual growth can be computed using the below formula:

(closing account balance-initial deposit)/initial deposit*100

closing account balance is $12,985

initial deposit is $12,500

annual growth rate=($12,985-$12,500)/$12,500*100

                                =$485/$12,500*100

                                 =3.88%

The annual growth rate for the money market account is 3.88% as computed above,which implies that the account would double the initial investment in 18.04 years using the 70 rule(70/3.88)

Masja [62]3 years ago
3 0

Answer: 3.88% (2dp)

Explanation:

The growth rate is calculated by subtracting the old figure from the new figure and dividing by the original figure.

This shows us how much the initial figure has grown by.

Calculating therefore would be,

= 12,985 - 12,500 / 12,500

= 0.0388

= 3.88%

3.88% is the annual growth rate for the money market account.

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Exotech has an inventory turn ratio of 60 with $50 million in annual sales, and an average inventory of $250,000. What is Exotec
Goryan [66]

Answer:

$15 million

Explanation:

Data provided in the question:

Inventory turn ratio = 60

Annual sales = $50 million

Average inventory = $250,000

Now,

we know,

Inventory turn ratio  = ( Cost of goods sold ) ÷ ( Average inventory )

thus,

60 = ( Cost of goods sold ) ÷ $250,000

or

Cost of goods sold = 60 × $250,000

or

Cost of goods sold = $15,000,000 or $15 million

8 0
3 years ago
Which of the following statements is not a difference between business markets and consumer​ markets?A. Buyers face more compl
marusya05 [52]

Answer:

E : the market is very small and limited

Explanation:

The statement that the market is very small and limited  is not a difference between business markets and consumer markets as the real difference is :

Business market larger in size :

If we talk from a Marketing Perspective point of view it Innovates through technological push and fanatics-breakthroughs which result in a rapid increase in the number of customers in the market and as the size of the market becomes larger.

3 0
3 years ago
Need help asap lol help lol lol
brilliants [131]

C,  because debtors like having narrower debts.

3 0
3 years ago
Read 2 more answers
World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At this planned level, the company
skad [1K]

Answer:

a. $13

b. $20,625 Unfavorable

Explanation:

a. Computation of overhead volume variance is shown below:-

Variable overhead rate = Variable overhead cost ÷ Expected standard hours

= $275,000 ÷ 25,000

= 11 direct labor hour

Fixed overhead rate = Productive capacity ÷ Expected standard hours

= $50,000 ÷ 25,000

= $2 direct labor hour

Total overheard rate = Variable overhead rate + Fixed overhead rate

= $11 + $2

= $13

b. The computation of overhead controllable variance is shown below:-

Variable overhead cost = Overhead rate × Standard hours

= $11 × 21,875

= $240,625

Fixed overhead cost = Overhead rate × Standard hours

= $2 × 21,875

= $43,750

Total overhead cost = $13 × 21,875

= $284,375

Actual result = $305,000

Variance = Actual result - overhead cost applied

= $305,000 - $284,375

= $20,625 Unfavorable

Working note:-

Standard direct labor hours = Actual units ÷ Standard hours

= 35,000 × 1.6

= $21,875

Standard units per hour = (Standard capacity × Expected production) ÷ Standard hours

= (50,000 units × 80%) ÷ 25,000 hours

= 1.6 units per hour

8 0
3 years ago
The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicat
just olya [345]

Answer:

Predetermined manufacturing overhead rate= $22.2 per direct labor hour

Explanation:

Giving the following information:

Fixed manufacturing overhead= $127,840 per month

Estimated direct labor hours= 9,400

The variable overhead rate is $8.60 per direct labor hour

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (127,840 / 9,400) + 8.6

Predetermined manufacturing overhead rate= $22.2 per direct labor hour

7 0
2 years ago
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