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horsena [70]
3 years ago
9

Last year Kareem had $20,000to invest. He invested some of it in an account that paid 8% simple interest per year, and he invest

ed the rest of it in an account that paid 7% simple interest per year. After one year, he received a total of $1540 in interest. How much did he invest in each account?
Business
1 answer:
gogolik [260]3 years ago
8 0

Answer:

He invested 14,000 in one account and $6,000 in another.

Explanation:

Let amount invested in one account paying 8% simple interest be x.

Total amount invested = $20,000

Amount invested in another account paying 7% simple interest = 20,000 - x

Total interest = $1,540

Simple interest equation for 1st account = 0.08x

Simple interest equation for 1st account = 0.07 (20,000 - x)

Sum of these two equations is $1,540

Equating above two equations we get,

1,540 = 0.08x + 0.07(20,000 - x)

1,540 = 0.01x + 1,400

x = $14,000

$14,000 is invested in one account and $6,000 (20,000 - 14,000) is invested in another.

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1. Select the correct statement regarding relevant costs and revenues.
Gala2k [10]

Complete Question:

1. Select the correct statement regarding relevant costs and revenues.

A. Sunk costs are not relevant for decision-making purposes.

B. Relevant costs are frequently called unavoidable costs.

C. Direct labor is an example of a unit-level cost.

D. Only variable costs are relevant for decision making.

Answer:

1. A

2. D

3. B

Explanation:

1. The correct statement regarding relevant costs and revenues is that sunk costs are not relevant for decision-making purposes. Sunk costs are the opposite of relevant costs because they can't be changed or recovered, as they've been spent or contracted in the past already. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.

2. Expected future revenues that differ among the alternatives under consideration are often referred to as differential revenues. It is the difference in revenues among two (2) alternatives, which would influence decision making.

3. The benefits sacrificed when one alternative is chosen over another are referred to as opportunity costs. It is also referred to as alternative forgone.

<em>For example, Tony gives up going to see a new movie at the cinema in order to prepare for an examination, so as to get a good grade</em>.

8 0
3 years ago
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lidiya [134]

Answer:

B. Greater efficiency

Explanation:

Efficiency, in this case, will refer to achieving the desired results with minimal or no wastage. A distribution manager has the responsibility to ensure goods get to their destination as scheduled. The manager's efficiency will be gauged by the speed, accuracy, and safety of deliveries.

Other than cost savings, the distribution manager has to aim at achieving greater efficiency. Customer service and pricing are functions of other managers.

8 0
3 years ago
Read 2 more answers
A company commences business on 1 April. It buys the following units of inventory.
Nostrana [21]

Answer:

D £165,000​

Explanation:

The computation of gross profit for the year using the first in first out (FIFO) method of inventory  valuation is shown below:-

As we know that

Gross profit = Sales - the cost of goods sold

where

Sales is

= 500 units × £550

= £275,000

And, the cost of goods sold is

= 200 units × £250 + 300 units × £200

= £50,000 + £60,000

= £110,000

We considered only 500 units as these sold units are sold

And, this is a first in first out method so we pick the first date units only

So, the gross profit is

= £275,000 - £110,000

= £165,000

7 0
3 years ago
Rate of Return if State Occurs State of Economy Probability of State of Economy Stock A Stock B Stock C Boom .15 .39 .49 .29 Goo
Maurinko [17]

Answer:

15.68%

Explanation:

Now to get the expected return of the portfolio, we need to find the return of the portfolio in each state of the economy. This portfolio is a special case since all three assets have the same weight. To find the expected return in an equally weighted portfolio, we can sum the returns of each asset and the we divide it by the number of assets, so the expected return of the portfolio in each state of the economy will be :

Boom: RP= (.13 + .21 + .39) / 3 = .2433, or 24.33%

Bust: RP= (.15 + .05 −.06) / 3 = .0467, or 4.67%

Now to get the expected return of the portfolio, we multiply the return in each state of the economy by the probability of that state occurring, and then sum. In so doing, we get

E(RP) = .56(.2433) + .44(.0467)

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8 0
3 years ago
A company accepts a customer's order on November 30 and immediately delivers the goods to the customer. On December 1, the compa
Step2247 [10]

Answer:

A) November 30

Explanation:

Based on accrual principle of accounting, revenue is recognized when it is earned and not necessarily when cash is received.

Revenue is said to be earned when the obligation of the delivery of service or goods sold has been met.

As such, where a company accepts a customer's order on November 30 and immediately delivers the goods to the customer, revenue is said to be earned (and will be recognized ) on the day of delivery.

6 0
3 years ago
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