The balance in Marty’s account will be $1330
Simple interest= (P x R x T) / 100
Where,
P = Principal = $1,000
R= Rate = 7.2%
T = Time = 55 months = 4.583333 years.
Simple Interest = (1000 x 7.2 x 4.58) / 100
=$329.76 = $330 (approx.)
Amount = Principal + Simple Interest
=$1000 + $330
=$1330
What is Simple Interest?
Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, so a borrower will never have to pay interest on the interest already accumulated because a creditor will only pay interest on the principal amount.
How do I calculate simple interest?
Simplified interest (S.I.) is computed using the following formula: S.I. = P*R *T, where P stands for principal, R for the annual percentage rate of interest, and T for time, which is typically expressed as the number of years. Written as r/100, the interest rate is expressed as a percentage, or r%.
Learn more about Simple Interest: brainly.com/question/25845758
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It's referred as transit advertising
Grace period is the answer aka c
Answer:
(a) If the discount rate is 11 percent, what is the future value of these cash flows in year 4?
To solve this problem, we must find the FV of each cash flow and add them.
To find the FV of a lump sum, we use:
FV = PV(1 + r)^t
[email protected]% = $625(1.11)^3 + $875(1.11)^2+ $1,150(1.11) + $1,250 = $4459
(b) What is the future value at a discount rate of 18 percent?
FV = PV(1 + r)^t
[email protected]% = $625(1.18)^3+ $875(1.18)^2+ $1,150(1.18) + $1,250 = $4852
(c) What is the future value at discount rate of 30 percent?
FV = PV(1 + r)^t
[email protected]% = $625(1.30)^3+ $875(1.30)^2+ $1,150(1.30) + $1,250 = $5597
Answer:
C) $9,000
Explanation:
Debits to the equity state represent additional expenses or losses that were not previously recorded.
- gain/loss = cash - carrying value of truck = $12,000 - $20,000 = -$8,000 or $8,000 loss
- additional repair costs = $1,000 (machinery repairs)
Total unrecorded losses and expenses = $8,000 + $1,000 = $9,000