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4 years ago

Given an interest of $11,900 at 6% for 50 days (ordinary interest) calculate the principal

1 answer:

5 0

I = Prt
I = (11900)(0.06)(0.14) = 99.96

50 days needs to be converted to years, so do 50/365 to get 0.14. That's your amount in years.

So, your interest is $99.96

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George Jefferson established a trust fund that provides $170,500 in scholarships each year for worthy students. The trust fund e

Aleonysh [2.5K]

The returns of a capital amount to a compensation rate for depositing the money, to calculate these returns an interest rate is used by which the deposited capital is multiplied, in this case the rate is 4%.

As the money distributed is only the product of interest, then that money is the result of multiplying the capital by the interest rate, to obtain how much money Mr. Jefferson contributed, the reverse process will have to be done.

Answers

let C be the capital, then :

$C\times4 \% = 170500\\C\times\frac{4}{100}= 170500\\C=170500\times\frac{100}{4}\\C=4262500$

The capital contributed by Mr. Jefferson was $4,262,500

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4 years ago

Read 2 more answers

Most new jobs in the United States will be in the____.

iVinArrow [24]

C! service producing industries.

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3 years ago

Read 2 more answers

What basically compares what an individual owes compared with how much they earn monthly?

STALIN [3.7K]

Answer:

C. Debt to Income Ratio

Explanation:

The debt to income ratio (DTI)provides a picture of the level of debts of a borrower. The DTI is usually expressed as a percentage of gross income. A high debt to income ratio indicates a person spends a high percentage of income on paying debts.

Lenders use the debt to income ratio to assess a borrower's ability to repay debts. Individuals with low DTI are preferred to those with a high one.

3 0

3 years ago

1/1/2019 sally miller purchased $500 of merchandise on account; the cost of the item is $310

timofeeve [1]

Solution and Explanation:

date Particulars Debit Credit

1st january, 2019 Account receivable 500

Sales revenue 500

(To record sales on account)

Cost of goods sold 310

Merchandise inventory 310

(To record cost of goods sold)

31st january, 2019 Notes receivable 500

Accounts receivable 500

(To record notes receivable for the 60 days at the rate of 6 percent)

1st April, 2019 Allowances for Doubtfull accounts 500

Notes receivable 500

(In order to write off Sally Millers account, no interest revenue is to be recognised)

2nd May, 2019 Notes receivable 500

Allowances for doubtful debts 500

( in order to record re-instatement)

2nd May, 2019 Cash 507.50

Notes receivable 500

Interest revenue 7.5

( In order to record the payment received)

3 0

3 years ago

Chandler Tire Co. is trying to decide which one of two projects it should accept. Both projects have the same start-up costs. Pr

mojhsa [17]

Answer:

The second project should be chosen. Because the present value of the second project is greater than that of the first project.

Explanation:

The project that should be chosen can be determined by comparing the present value of both projects.

Present value is the cash flows from a project discounted at the discount rate.

Present value can be found using a financial calculator;

For project 1,

Cash flow each year from year one to six is $52,000

Discount rate = 15%

Present value =$196,793.10

For project 2,

Cash flow each year from year one to eight is $48,000

Discount rate = 15%

Present value =$215,391.43

The second project would be chosen because its present value is greater than that of the first project.

I hope my answer helps you

6 0

3 years ago