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anygoal [31]
3 years ago
12

Olivia deposited $800 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She will earn

interest once a year for the next 7 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Olivia in 7 years?a. $1,147.20 b. $149.60 c. $1,218.88 d. $852.68
Business
1 answer:
svp [43]3 years ago
3 0

Answer:

a. $1,147.20

Explanation:

Simple interest means the same amount will be paid as interest per year.

We will use the following formula to solve for Olivia's interest after 7 years.

Interest = principal* interest rate* time

Principal= $800

Interest rate= 6.2%

Time= 7 years

Interest= 800* 0.062* 7

Interest= $347.20

So the total money owed to Olivia is = 800+ 347.20= $1,147.20

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El Tapitio purchased restaurant furniture on September 1, 2021, for $45,000. Residual value at the end of an estimated 10-year s
muminat

Answer:

$1,300 and $3,900

Explanation:

The computation of the depreciation expense for the year 2021 and 2022 using the straight line method is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($45,000 - $6,000) ÷ (10 years)

= ($39,000) ÷ (10 years)  

= $3,900

In this method, the depreciation is same for all the remaining useful life

For the year 2021, it is

= $3,900 × 4 months ÷ 12 months

= $1,300

The four months are taken from Sep 1 to Dec 31

And, for the year 2022, it is $3,900

4 0
3 years ago
The wrist watch industry in a country is not very competitive. There are limited brands available and the existing firms use the
Usimov [2.4K]

Answer:

<em>B. she is confusing between price elasticity of demand and income elasticity of demand.</em>

Explanation:

Envy miscalcualte the price elasticy whhich from 1,000 to 1,100 was 12% not the 7% forecasted

The increase in income is a different factor. An increase in income will make the people in the country to consume and/or save more

but they will decide on each product market considering the price/elasticity

In this case, it was -0.12

5 0
3 years ago
When executives from competing firms meet to decide which of them will submit the lowest bid on a contract, they are indulging i
mariarad [96]
That is called "price fixing"
7 0
3 years ago
Walt has a $300,000 listing at 8% commission. An agent from another firm sold the listing. Walt has a 70% commission split with
erastovalidia [21]

Answer:

$8,400

Explanation:

total commission = $300,000 x 8% = $24,000

50% co-brokerage split = $24,000 x 50% = $12,000

Walt's commission = $12,000 x 70% = $8,400

the 70% commission split between Walt and his broker means that Walt keeps 70% of the commission and the broker keeps 30%.

total commission is split between the two firms because the Walt's listing was sold by another firm.

4 0
4 years ago
A football game between the Thunder and the Sharks is in its closing minutes, with the Thunder ahead by 20 points. The Thunder’s
PolarNik [594]

Answer: increased, trade- offs, marginal thinking, small.

Explanation:

According to the passage, The coach is weighing a slightly<u> increased </u>risk of losing against a slightly decreased risk of injury to the star quarterback. This weighing o<u>f trade-offs </u>is an example of <u>marginal thinking,</u> because the star quarterback was in for most of the game, and the coach's decision concerns <u>small </u>shifts in probabilities with the game nearly over.

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3 years ago
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