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3 years ago

Summarize how compound interest helps you to accumulate savings even faster.

Business

1 answer:

yulyashka [42]3 years ago

4 0

Answer:

The magic of compound interest happens in a way that the more you put in, the faster your money grows.

Explanation:

The magic of compound interest happens in a way that the more you put in, the faster your money grows. The interest you earn on the amount you save also earns interest and this snowballing effect makes you accumulate your savings even faster. For example, if you deposit $100 in a savings account that pays 5% interest per year. At the end of the year, you account will have (5%*100= 5) plus the $100 you deposited, coming to a total of $105. At the end of the second year, your $5 interest earned in year 1 will earn another 5% interest and so will the $100 you initially deposited.

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Kingbird Company exchanged equipment used in its manufacturing operations plus $4,200 in cash for similar equipment used in the

Misha Larkins [42]

Answer:

Books of the Kingbird Co.

Date Particular Debit $ Credit $

Equipment - New (balancing figure) a/c Dr 17,200

Accumulated depreciation (old a/c) Dr 26,600

To, Equipment - Old 39,200

To Cash a/c 4,200

Books of the Oriole Co.

Equipment - New (39,200 - 14,000 - 4,200) a/c Dr 21,000

Accumulated depreciation a/c Dr 14,000

Cash a/c Dr 4,200

To Equipment - Old a/c 39,200

Explanation:

Books of the Kingbird Co.

Date Particular Debit $ Credit $

Equipment - New (balancing figure) a/c Dr 17,200

Accumulated depreciation (old a/c) Dr 26,600

To, Equipment - Old 39,200

To Cash a/c 4,200

Books of the Oriole Co.

Equipment - New (39,200 - 14,000 - 4,200) a/c Dr 21,000

Accumulated depreciation a/c Dr 14,000

Cash a/c Dr 4,200

To Equipment - Old a/c 39,200

5 0

3 years ago

For what date did you set your first bill pay to GetFlix?

IceJOKER [234]

Answer:

1st may of 2020, lol let not....

8 0

1 year ago

The price of food is rising fast! how might this situation be handled in a…

Pani-rosa [81]

A free market economy is when the prices of supply and demand are free from the government. Meaning they can charge whatever they want and the government has to say. So answering your question they can just charge less if they felt like it since they have free reins of the prices.

A command economy is the opposite whereas supply and demand prices are determined by the government and the government only. The government would probably not change the prices because the government sucks.

(A mixed economy is the best way to achieve that)

4 0

3 years ago

In the context of green marketing, ________ provides strong incentives for redesigning products in ways that make it easier to r

r-ruslan [8.4K]

Answer:

Take-back legislation

Explanation:

In the context of green marketing, take-back legislation provides strong incentives for redesigning products in ways that make it easier to reuse and recycle.

I hope it helps! Have a fantastic day!

Bored~

5 0

2 years ago

Burning one gallon of gasoline in a car releases approximately 20 pounds of CO2 into the atmosphere. One average person drives 6

Oksanka [162]

Answer: 20,000 pounds of CO₂

Explanation:

30 mpg car.

Number of gallons of gasoline used:

= 60,000 / 30

= 2,000 gallons

CO₂ released = 2,000 * 20

= 40,000 pounds

20 mpg car

Number of gallons used:

= 60,000 / 20

= 3,000 gallons

CO₂ released = 3,000 * 20

= 60,000 pounds

Difference:

= 60,000 - 40,000

= 20,000 pounds of CO₂

8 0

2 years ago