Answer:
the effective annual rate of interest is 37.50%
Explanation:
The computation of the effective annual rate of interest is as follows:
Interest = Principal × rate × time period
$12 = $128 × rate × 3 months ÷ 12 months
$48 = $128 × rate
rate = 37.50%
Hence, the effective annual rate of interest is 37.50%
We simply applied the above formula so that the correct annual rate could come
Answer:
There are no standard methods used to evaluate emerging technologies.
Explanation:
Explanation:
The cumulative increase in your portfolio for a 25 years is
4% annually * 25 years = 100% — if you received a basic profit (without composition).
The cash would then double.
Your capital would multiply more rapidly than it does with simple interest with compounding interest and would thus take less than 25 years to double.
Answer: Assets, net income, and equity overstated.
Explanation: Depreciation can be defined as the decline in value of assets.
A mistake to record depreciation which is the decline in value in asset will significantly affect the account records. If the asset in a financial record is overstated, the net income and equity are also overstated because the asset is used in calculation of net income and equity.
The extra money you pay back is called interest.
I hope this helps!