Given:
Principal = 11,000
return rate = 6%
term = 20 years
Without additional information, I can treat this problem as a simple interest problem.
Simple Interest = Principal * rate * term
Simple Interest = 11,000 * 0.06 * 20 years
Simple Interest = 13,200
11,000 + 13,200 = 24,200 total balance after 20 years.
Assuming that the interest is compounded once a year.
A = P (1 + i/n)^t*n
A = 11,000 (1 + 0.06/1)^20*1
A = 11,000 (1.06)^20
A = 11,000 * 3.207
A = 35,278.49 total amount after 20 years.
The amount involving compounding interest is greater than simple interest because in compounding interest, the interests earned in the previous years also earn its own interest. Whereas, in simple interest only the principal earns an interest.
Answer:
Answer is explained in the attachment.
Explanation:
There are no options to choose from. Julie will get paid that fee of customers bias. (if that makes sense). Hope this helps!
<span>Street Survivors was the fifth studio album of the rock group Lynyrd Skynyrd, recorded in 1977. In October of that year, a small plain carrying members of the band as well as managers and support personell, crashed near Gillsberg, Mississippi. Lead Vocalist Ronnie Van Zant, guitarist Steve Gaines, and backup vocalist Cassie Gaines were among the six killed.</span>
Answer:
The cost of the work transferred-out during May is $18,630
Explanation:
For computing the cost of work transferred, first we have to compute the conversion cost per unit and material cost per unit
The conversion cost per uni = Conversion cost ÷ (transferred units + work in progress)
= $11,160 ÷ (2,700 + 300 × 30%)
= $11,160 ÷ (2,700 + 90)
= $11,160 ÷ 2,790
= $4 per unit
Now, material cost per unit = Material cost ÷ (transferred units + work in progress)
= $8,700 ÷ (2,700+300)
= $8700 ÷ 3,000
= $2.9 per unit
So, total cost of the work transferred is equals to
= Transferred units × conversion cost per unit + transferred units × material cost per unit
= 2,700 × $4 + 2,700 × $2.9
= $10,800 + $7,830
= $18,630
Hence, the cost of the work transferred-out during May is $18,630
