1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fynjy0 [20]
2 years ago
8

A bank loaned out ​$19 comma 00019,000​, part of it at the rate of 7 %7% per year and the rest at 15 %15% per year. If the inter

est received in one year totaled ​$20002000​, how much was loaned at 7 % question mark7%? How much of the ​$19 comma 00019,000 did the bank loan out at 7 % question mark
Business
1 answer:
Alla [95]2 years ago
6 0

Answer:

Explanation:

Let x be the amount loaned at 7% and ($19,000 - x) be the amount loaned at 15%

Given:

Interest incurred at 7%, I1 + Interest incurred at 15%, I2 = $2000

Interest, I = amount × rate

I1 = 7/100 × x

I2 = 15/100 × ($19,000 - x)

From the above expressions,

(0.07)x + (0.15) × ($19,000 - x) = $2,000

Solving for x,

0.07x + 2850 - 0.15x = 2000

Collecting like terms,

0.08x = 850

x = $10625

The amount loaned at 7% interest is

$10625

The amount loaned at 15% interest is ($19000 - $10625)

= $8375

You might be interested in
TP5. <br> LO 7.2How might service industries predict revenue?
dalvyx [7]

Answer:

Budgeting, forecasting and planning

Explanation:

Service industries uses budgeting, which includes expected sales  and operational cost, to forecast, plan and predict revenue. With regards to forecasting; historical or past company data are used to make sound prediction.

5 0
3 years ago
Which of the following types of operating systems does Windows® belong to?
Galina-37 [17]

Answer:

Windows is an operating system my man, its one in itself

Explanation:

5 0
2 years ago
Sunland Company began operations in July 2019. At the end of the month, the company prepares monthly financial statements. It ha
DIA [1.3K]

Answer:

July 31, 2019

Dr Salaries and Wages Expense $1,800

Cr Salaries and Wages Payable $1,800

Dr Interest Expense 320

Cr Interested Payable 320

Dr Accounts Receivable $2,600

Cr Service Revenue $2,600

Explanation:

Preparation of the adjusting entries needed at July 31, 2019

July 31, 2019

Dr Salaries and Wages Expense $1,800

Cr Salaries and Wages Payable $1,800

Dr Interest Expense 320

Cr Interested Payable 320

[$32,000*12%-($32,000*12%*11/12)]

Dr Accounts Receivable $2,600

Cr Service Revenue $2,600

5 0
2 years ago
Gomez runs a small pottery firm. He hires one helper at $15,000 per year, pays annual rent of $6,500 for his shop, and spends $2
Nady [450]

Answer

Gomez's business accounting profit amounted to $37500 while economic profit is $6000

Accounting profit is simply deducting explicit costs from revenue.Explicit costs are costs that require actual cash flow from the entity.

Economic profit on the other hand is calculated by deducting both explicit and implicit costs from revenue.

Implicit costs are costs relating to alternative opportunities forgone.

Explanation:

Both accounting and economic profits are highlighted below:

Accounting profit=Total revenue-explicit costs  

Revenue                 $82,000  

Helper's wages  ($15,000)

Rent                   ($6,500)

Materials                   ($23,000)

Accounting profit     $37,500  

 

Economic profit =Revenue -explicit costs-implicit costs  

Revenue                               $82,000  

Helper's wages                ($15,000)

Rent                                 ($6,500)

Materials                                 ($23,000)

Return lost money invested  ($6,000)

Lost income from porter's offer     ($20,500)

Entrepreneur's talent             ($5,000)

Economic profit =                       $6,000  

8 0
2 years ago
Assessment
Goryan [66]

Answer:

You must decline the transaction for the following reasons:

A customer may not purchase more than $2,000 in prepaid cards within a 24-hour period.

Customer ID must be a valid (not expired) government issued photo ID (US or Canadian  issued driver's license, state ID, passport; US military ID, US Territory ID)

Customers may not purchase more than $250 at the assisted check out (ACO).

Explanation:  

A customer may not purchase more than $2,000 worth of prepaid products in one business day.

POS will prompt cashiers for an ID at $300:

POS will prompt cashiers to scan or manually enter a valid ID for purchases  at   $300.

Customers may not purchase more than 10 prepaid cards in one day.

Customers may not purchase more than $250 at the assisted check out (ACO).

Managing our prepaid card limits on a daily basis is run, similar to our money order process. The 2,000 daily limits for prepaid/gift cards is accomplished through a partnership with  APPRISS.

 Note :

The POS Register does not allow a single transaction over $2,000 to ensure CVS/pharmacy is in compliance with federal regulations.

Breaking up transactions to allow the purchase of more than $2,000

in prepaid products to one customer, couple or group is strictly against CVS/pharmacy policy and may result in disciplinary action up to, and including, termination of employment.

6 0
2 years ago
Other questions:
  • A new project would require an immediate increase in raw materials in the amount $6,000. The firm expects that accounts payable
    7·1 answer
  • The Felix Corp. will pay an annual dividend of $1.00 next year. The dividend will increase by 12 percent a year for the followin
    9·1 answer
  • An effective production quota in the sugar market​ ______
    9·1 answer
  • If the economy is at full employment and the Federal Reserve undertakes a policy of increasing the money supply at a constant ra
    14·2 answers
  • If a company uses $1,300 of its cash to purchase supplies, the effect on the accounting equation would be:
    11·1 answer
  • Topper Corporation has 60,000 shares of $1 par value common stock and 16,000 shares of cumulative 7%, $100 par preferred stock o
    5·1 answer
  • A private pilot wishes to insure his airplane for$200,000. The insurance company estimates that a total loss will occur with pro
    11·1 answer
  • Franklin Aerospace has a quick ratio of 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current as
    12·1 answer
  • Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 s
    10·1 answer
  • Pension data for Sterling Properties include the following:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!