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dangina [55]
2 years ago
6

Seth worked a summer job at a camp. His salary accumulated all summer and at the end of the summer he deposited $1890 in a savin

gs account at 3.5 percent interest for 2.5 years. What was the total amount of money in the account at the end of this time?
Business
2 answers:
klemol [59]2 years ago
4 0

Answer:

Total amount= $2,055.38

Explanation:

Simple interest is defined as the amount that a lender charges the borrower for the funds collected. The borrower pays back the principal collected and the interest to the lender.

Simple interest is calculated as principal multiplied by time multiplied by interest rate.

Interest= principal * time * rate

Interest= 1,890* 2.5* 0.035

Interest= $165.375

Therefore total amount of money in the account is

Total amount= principal + Interest

Total amount= 1890+ 165.375

Total amount= $2,055.375~ $2,055.38

sergiy2304 [10]2 years ago
4 0

Answer:

$2,059.74

Explanation:

we can use the future value formula to determine the amount of money Seth will have on his savings account:

future value = present value x (1 + r)ⁿ

  • present value = $1,890
  • r = 3.5%
  • n = 2.5 years

future value = $1,890 x (1 + 3.5%)²°⁵ = $1,890 x 1.035²°⁵ = $1,890 x 1.0898 = $2,059.74

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Answer:

The answer is D

Explanation:

Solution:

Recall that:

Malloy Furniture purchases two products: Big shelves B and Medium shelves M

The cost of big shelf is =$500

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Storage space = 90 cubic feet,

Now,

Since the values 100 and  90 is greater than 18000 cubic feet available for storage, what is required would be 100 big shelves and 100 medium shelves

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3 years ago
Mateo has a passion for collecting old watches. He's particularly interested in those from the 1920s because they have a history
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Answer:

D. Authenticity

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3 years ago
Read 2 more answers
If the economy is at equilibrium above potential output:
babunello [35]

Answer:

B) There is an inflationary gap, and contractionary fiscal policy is appropriate.

Explanation:

One of the macroeconomic cases is inflationary gap. It means that the difference between the current level of real gross domestic product (GDP) and the predicted or forecasted GDP that would be experienced and achieved if an economy is at full employment. It could be claimed that when the demand for goods and services gets over the production in the factors such as: higher levels of overall employment, increased trade activities or increased government expenditure.

In order to overcome this gap, the contractionary fiscal policy must be considered. The mechanism of that policy is to increase the taxes decrease the government expenses due to inflationary pressures. This policy consequently will affect the level of consumption and private investment, respectively, these also will decrease the real GDP.

Other concept of macroeconomics is recessionary gap. In comparison to inflationary gap, this concept indicates the economy operating at lower level than its full equilibrium level, in turn, the level of real GDP is also less than full equilibrium level. We used to see this situation when the economy was intending to recess.

In order to overcome this gap, the expansionary fiscal policy will work well. Because of decreasing taxes and increasing government expenditures, the recessionary gap can be fought anymore. Since the taxes decreases, the business will revive and the confidence to the investment will increase, as a result the GDP will rise. Moreover, the growing government expenditures will stimulate the GDP to accrue.

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inna [77]

Answer:

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