<span>You are given Nigel's current balance of $668.47 in an account he has held for 15 years. Also you are given an initial deposit of $497. You are asked to find the simple interest rate on the account. You will use the simple interest formula, F = P(1 + rn) were F is the current balance, P is the principal amount deposited, r is the rate and n is the number of years.
</span>F = P(1 + rn)
668.47 = 497(1 + r(15))
r = 0.023 or 2.3%
Answer:
States that allowed slavery were no longer sovereign
Explanation:
cu Abraham believed that they were all human beings and should be free in america
Answer:
Opportunity costs are defined as the additional costs or benefits lost from choosing one activity or investment over another alternative. It is a relative concept because you cannot be 100% sure that the other investments or activities would have yielded a specific gain.
For example, when you calculate the economic cost of starting your own business, you consider your current salary as an opportunity cost. But what happens if you get fired (or the company closes), your opportunity cost would have been $0? Or how can you exactly measure your future salaries? Maybe in a couple of years you get promoted to manager, or maybe not?
The same applies to economies, since the opportunity cost of producing certain tradable goods is not always fixed, it might decrease or increase due to productivity or efficiency changes. But in order to calculate or determine we must include the most probable option.
In microeconomics, a strictly convex production possibilities frontier function must include a combination of both goods. In strict convexity, the second derivative f''(x) ˃ 0, so the PFF curve cannot be straight, it must have a slope.
When we calculate the opportunity costs of PPF, we usually try to determine which product has the lowest opportunity cost, but that is not an interior solution because both goods are not being produced (the curve is not strictly convex). On a strictly convex curve, as you approach the extremes the opportunity cost of producing one good is high, but on the center the opportunity cost is much lower.
Answer:
SANDHILL CO.
Income Statement
For the Year Ended April 30, 2022
<u>Revenues</u>
Sales revenue $6,200
<u>Expenses</u>
Cost of Goods Sold $1,000
Depreciation expense $315
Income tax expense $175
Insurance expense $360
Interest expense $460
Salaries & Wages expenses <u>$850</u>
Total Expenses <u>$3,160</u>
Net Income <u>$3,040</u>
<u />
SANDHILL CO.
Retained Earnings Statement
For the Year Ended April 30, 2022
Retained Earnings, May 1, 2021 $1,700
Add: Net Income <u>$3,040</u> $4,740
Less: Dividends <u>$310 </u>
Retained Earnings, April 30, 2022 <u>$4,430</u>
Answer:
Flexible budget and master budget are very different.
Explanation:
The "master budget" is the sum of all the budgets that are prepared by a company's various departments. They include financial statements that are budgeted, a financing plan and a cash forecast. They are based on one specific level of production.
A "flexible budget" is a budget that changes or adjusts when the level of activity changes. They are dynamic in nature and can be operated on many levels of output. It is realistic and not based on assumption.
