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Schach [20]
3 years ago
5

Addison deposited $1,000 in a savings account at her bank. Her account will earn an annual simple interest rate of 5.8%. If she

makes no additional deposits or withdrawals, how much money will she have in her account in 9 years?
Business
1 answer:
zhenek [66]3 years ago
8 0

Answer:

$1,522

Explanation:

For computing the future value, first we have to determine the simple interest which is shown below:

= Principal × rate of interest × time period

= $1,000 × 5.8% × 9 years

= $522

Now the future value would be

= Principal amount + Simple interest

= $1,000 + $522

= $1,522

First, we simply applied the simple interest formula then we compute the future value by adding the principal amount and the simple interest

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This would be D- an opportunity for True Taste to thrive in their community.
6 0
3 years ago
7. Problems and Applications Q7 A dozen eggs cost $0.96 in December 2000 and $2.75 in December 2015. The average wage for worker
fredd [130]

Answer: 187%

Explanation:

The percentage increase in the price of dozen egg would be:

= ( 2.75-0.96) × 100/ 0.96

= 1.79 × 100 / 0.96

= 186.45%

The percent increase in the price of dozen egg = 187%

4 0
3 years ago
On January 1, 2004, Kay Inc. issued its 10% bonds in the face amount of $400,000, which mature on January 1, 2014. The bonds wer
DaniilM [7]

Answer:

Unamortized discount is $43,700

Explanation:

Unamortized bond discount=original bond discount-amortization to date

original bond discount is $46,000

Amortization =interest  payable-interest expense

interest payable=$400,000*10%*6/12

                            =$20,000

Interest expense=$354,000*10%*6/12

                             =$17,700

amortization of discount=$20,000-$17,700

                                        =$2300

unamorized bond discount=$46000-$2300

                                            =$43,700

The unamorized bond discount at the end of the first six months is $43,700

                     

3 0
3 years ago
47:49
rusak2 [61]
The correct answer is
8 0
3 years ago
You pay $5,500 per year for insurance on your building. Fire damage caused $15,000 in repairs. The insurance company paid for th
ElenaW [278]

Based on the amount you pay now and the increase in insurance premiums, your annual insurance costs next year would be $6,325.

<h3>What is the next insurance cost next year?</h3>

The annual cost of insurance refers to the amount that is paid in premiums in a year.

That cost is currently $5,500 but will increase by 15%.

= Current insurance cost x ( 1 + rate of increase)

Solving gives:

= 5,500 x ( 1 + 15%)

= $6,325

Find out more on insurance cost at brainly.com/question/4953989.

6 0
2 years ago
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