Answer:
$8750.87
Explanation:
This is compound interest problem. The formula used to solve this would be:
Where
F is the future value (what we want, after 3 years)
P is the initial value (given 6900)
r is the rate of interest per period
here, 8% per year, so 8/4 = 2% per period (since compounded per quarter)
t is the time (3 years and compounding per year so times of compounding is 3*4 = 12), so t = 12
Substituting, we get our answer:
<u>There will be about $8750.87 at the account at the end of 3 years!</u>
Answer: The problem of this plan is that their income will not be able to break even, because their cost price will be grater than the selling price. Which may cause the new company to wind up
Explanation: break even is a point where the cost price is equal to the selling price. This means that profit nor loss were not made.
Because Avis and Hertz are offering rentals at a prices below average variable cost, the company may not be able to meet up with capital for production of more cars, and this will cause them to wind up.
For a new company, it is always advisable to keep it's selling price a little bit above or the same with it's cost Price, because the strength not any business is the ability to produce more to fill the space of scarcity.
Answer:
B) Subtract them from the bank balance.
Explanation:
When you are adjusting your bank statement you must subtract any outstanding checks and add any deposits in transit.
In this case, the checks that were written at the end of December will probably be cashed during the next months, but the company must adjust their bank balance because they know that the checks will eventually be cashed, sooner or later.
Answer:
B. Check the person's credit history to make sure he or she pays debts on time.
Explanation:
Applying for a loan from a bank is when a person wants to borrow money from the bank for his personal requirements. This is also one of the ways a bank does business, incurring interest while also 'helping out' a person in need.
One factor that banks take into consideration for approving a loan to a person is checking the credit history of that person. This means that the bank will investigate the person's credit score and how often he pays his credit bills. Depending on the pattern of the payment, a bank will be able to understand the dependability of the person for a loan's payment.
Thus, the correct answer is option B.
