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Vsevolod [243]
3 years ago
11

James deposits $900.00 in a savings account at Wachovia Bank. The account pays an annual

Business
2 answers:
luda_lava [24]3 years ago
5 0

Answer: Interest earned in 3 months is $16.5

Explanation:

Interest Earned = Principle x \frac{r}{m}

where,

r = Annual interest rate = 5.5%

m= Number of periods = 3 months

Principle = $900

Interest Earned = $900 x \frac{0.055}{3} = $16.5

Fantom [35]3 years ago
4 0

Answer:

$12.38

$912.38

Explanation:

State rate is the simple rate that is given by the bank against a principal without any compounding effect.

The effective interest rate is the rate of return that an investor receives including the compounding effect.

As the effective rate of return is 5.5% se, we will use this rate for interest income calculation.

Principal Amount = $900

Interest Earned = $900 x 5.5% x 3/12 = $12.38

He will earn $12.38 in 3 months

Total Value = $900 + $12.38 = $912.38

His new total will be $912.38

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3 years ago
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently
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The Mixing Department’s output during the period consists of 20,000 units completed and transferred out, and 5,000 units in en
Zigmanuir [339]

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Explanation:

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<u>Calculation of equivalent units of production for Materials and Conversion Costs.</u>

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Ending Work In Process (5,000 units × 60%)                 3,000

Equivalent units                                                              23,000

Conversion Cost

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Ending Work In Process (5,000 units × 60%)                 3,000

Equivalent units                                                              23,000

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3 years ago
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