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Verdich [7]
3 years ago
10

$5000 is put into an empty savings account with a nominal interest rate of 5%. No other contributions are made to the account. w

ith monthly compounding, how much interest will have been earned after 5 years? acco orew a. $1250 b. $1380c. $1410 d. $1420
Business
1 answer:
yawa3891 [41]3 years ago
8 0

Answer:

Interest in 5 years will be $1418.07 which is near about $1420

So option (D) will be correct answer

Explanation:

We have given amount invested, that is principal amount P = $5000

Rate of interest r = 5 %

Time taken t = 5 years

As interest is compounded monthly so rate of interest =\frac{5}{12}=0.416%

And time period n = 12×5 = 60 period

So total amount after 5 year will be equal to

A=P(1+\frac{r}{100})^n

A=5000(1+\frac{0.417}{100})^{60}

A=5000\times 1.2836=6418.07

We have to find the interest

Interest will be equal to = total amount - principal amount = $6418.07 - $5000 = $1418.07

Which is near about $1420 so option (D) will be correct answer

 

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1.  73 %

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Explanation:

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Where,

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                                           = 73 %

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                                = 27 %

Break-even sales revenue = Fixed Costs ÷  Contribution Margin Ratio

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                                            = $60,000

<u>Ways to increase projected operating income without increasing total sales revenue :</u>

  1. Reduce the variable costs per unit
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I think the most appropriate answer would be "a car dealership salesman" would be the opportunity cost.

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Certain brand names, such as Kleenex or Xerox, have become _______, because they are so commonly identified with a specific prod
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<u>Answer</u>: Certain brand names, such as Kleenex or Xerox, have become generic name.

<u>Explanation:</u>

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This process can be called as genericization and companies loose their trademarks due to these usage of names. These generic names have wide spread popularity.

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