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katovenus [111]
3 years ago
7

Lance lopes went to his bank to find out how long it will take for $1,500 to amount to $2,700 at 15% simple interest. can you so

lve lance's problem? (round time in years to the nearest tenth.)
Business
1 answer:
denis23 [38]3 years ago
3 0
To find simple interest: 

Time = Interest/(Principle)(Rate)

Interest is the amount of interest paid
Principle is the amount you lent or borrow
Rate is the percentage of principle charged as interest each year
Time is the years of the loan

P=Principle amount of $1,500
I=Interest amount of $1,200 (Take the new amount of $2,700 and subtract from the principle that is $1,500 which gives you $1,200)
r= as a decimal .15 (15%/100)
t=unknown

T=I/PR

T=1,200/(1,500)(.15)
T=1,200/225
T=5.3 years 

It would take Lance roughly 5.3 years
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Assume that the reserve ratio is 20% and banks in the system are loaning out all their excess reserve. If people collectively ca
Alex17521 [72]

Answer:

C. decreased by $40 billion

Explanation:

For computing the lending ability, first we have to determine the money multiplier which is shown below:

We know that

Money multiplier = 1 ÷ reserve ratio

                            = 1 ÷ 20%

                            = 5

So, the total cash would be

= $10 billion × $5

= $50 million

Now the lending ability would be

=$50 billion × (1 - 20%)

= $50 billion × 0.80

= $40 billion

6 0
3 years ago
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Norma-Jean [14]
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3 years ago
If an individual investor uses the services of a broker to buy and sell stocks that are currently being traded in the stock mark
sergejj [24]

Answer:

a. False

Explanation:

A "primary transaction" refers to the selling of <em>new stocks and bonds</em> for the first time towards the public. A great example of this is the "Initial Public Offering" <em>(IPO)</em> which allows "public share issuance."

On the other hand, a "secondary transaction" refers to the<em> trading of investors among themselves.</em> There is no involvement of the issuing companies here. So, this means that if an investor uses the services of a broker to buy and sell stocks that are currently being traded in the stock market,<u> the transaction</u><u> doesn't directly involve the issuing compan</u><u>y.</u> This kind of transaction is then called "secondary."

So, this explains the answer.

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Marat540 [252]

Answer:

$1,000

Explanation:

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Applied overhead = Actual direct labor × Per direct labor

= 24,000 × $2

= $48,000

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= $48,000 - $47,000

= $1,000

Therefore for computing the overhead over/under applied last year we simply applied the above formula.

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3 years ago
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