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Setler79 [48]
3 years ago
11

Jose now has $500. How much would he have after 6 years if he leaves it invested at 5.5% with annual compounding?a. $591.09b. $6

22.20c. $654.95d. $689.42e. $723.89
Business
1 answer:
lys-0071 [83]3 years ago
6 0

Answer:

D. 689. 42

Explanation:

The equation to calculate the total including the initial principal plus interest is A=P(1+r/n)^{nt}, where the following is true:

A= Total (principal plus interest)

P= Principal ($500)

R= Rate (5.5% in decimals = 0.055)

n= Compound (Annually -- 1 year)

t= Time in years (6 years)

A=500(1+(0.055/1))^{1X6}

A=500(1+0.055)^{6}

A=500(1.055)^{6}

A=500(1.37884)

A=689.42

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The statement of owner's equity: Multiple Choice
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Answer:

E. Reports how equity changes over a period of time.

Explanation:

Statement of owner's equity as the name suggests is the statement which describes the changes in owner's equity, as it is obvious that the change cannot occur at a point of time, it will occur over a period of time.

And therefore, the statement is prepared over a period generally for a fiscal year, or a financial year.

There is no statement prepared to show any change in owner's equity at a point.

Statement reporting cash flows is called cash flow statement.

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3 years ago
At the current steady state capital-labor ratio, assume that the steady state level of per capita consumption, (C/N)*, is greate
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Answer:

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Since the consumption rate is already higher than the steady state consumption, the effect of a decrease in the savings rate is ambiguous. Every dollar earned by a household is either spent or saved, and in order for savings to decrease, spending must increase.

But in this case, the spending level is already too high. A decrease in savings should increase consumption but the effects of the increase in the capital labor ratio and the per capita consumption are not certain.

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2 years ago
The weekly incomes of shift foreman for a given industry follow a normal probability distribution. With a mean of $1,000 and a s
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