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QveST [7]
3 years ago
11

Suppose you decide to deposit $24,000 in a savings account that pays a nominal rate of 12%, but interest is compounded daily. Ba

sed on a 365-day year, how much would you have in the account after four months? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.)
Business
1 answer:
Dovator [93]3 years ago
8 0

Answer:

The total amount after four-month is 24982.08 dollars.

Explanation:

The amount to deposit in savings account = $24000

Nominal interest rate = 12%

Daily rate = 12 /365= .03288%

The interest is compounded daily and a number of months = 4 months.

We have to calculate the total amount after the four months. The calculation is given below:

Number of days in 4 months = 4 × 365/12 = 121.66 (rounded to 122)

Amount in account = Amount deposited ×  (1+i)^n

                   = 24000 ×  (1+.0003288)^122

                    = 24000 ×  (1.0003288)^122

                   = 24000 × 1.04092

                  =  24982.08 dollars

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Answer:

A: True

Explanation:

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5 0
3 years ago
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Answer:

False

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The given situation does not represents the support function as it is a production function and the same is to be considered as it manages and improves the organization efficiency also it convert the processes through which it added the more value to the organization

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5 0
3 years ago
In 2019, Whispering Winds Corp. had net sales of $973,000 and cost of goods sold of $570,900. Operating expenses were $220,300,
tester [92]

Answer:

Whispering Winds Gross profit is $402,100

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Multi step income statement differentiate the the operating revenue and expenses from non operating revenue and expenses. It shows the gross profit, operating profit and net profit separately.

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 Income statement for the year 2019

Net sales                               $973,000

Less: Cost of goods sold     <u>$570,900</u>

Gross Profit                                            $402,100

Less:Operating expenses                     <u>$220,300</u>

Operating Profit                                     $181,800

Less: Interest expense                          <u>$14,600  </u>

Profit before Tax                                    $167,200

7 0
3 years ago
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TRUE

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The influence of cultural on business behavior is broadly encompassing. Cultural impacts ranges from understanding employee behavior and employees management methodologies; i.e. how best to manage employees based on their values and priorities. It also impacts the functional areas of marketing and distribution: what people appreciate and the peculiarities of their environment. It also greatly impact and is a strong determinant factor of success when a company is taking a decision on how best to enter a new market.

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7 0
3 years ago
The _____ is the way in which each country’s economy links to other countries’ economies.
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<span>It's definitely: Global economy</span>
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3 years ago
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