Answer:
$845.83
Explanation:
The computation of the interest is shown below:
= Principal × rate of interest × number of days ÷ (total number of days in a year)
= $140,000 × 7.25% × (30 days ÷ 360 days)
= $845.83
Simply we applied the simple interest formula by multiplying the principal, interest rate and the time period so that it can arrive with the correct amount
The median of all the string numbers would be 52
Answer:
A. Management's minimum required balance.
Explanation:
The minimum balance is the minimum dollar sum that a client must have in an account to get some service benefit, for example, keeping the account open or getting premium.
List your income and your assets and find the total. Iam not really sure that's the answer, but it sounds right.
Answer:
a. $32,800
b. $37,019
c. $37,460
Explanation:
a. The computation of Total Amount Withdrawn by Alan when simple interest is shown below:-
Accumulated amount of money = Invested amount + (Rate of interest × Number of years)
= $20,000 + ($20,000 × 8% × 8)
= $32,800
b. The computation of Total Amount Withdrawn by Alan when annually Compounded is shown below:-
Accumulated amount of money = Invested amount × (1 + rate of interest)^Number of years
= $20,000 × (1 + 0.08)^8
= $20,000 × 1.85093
= $37,019
c. The computation of Total Amount Withdrawn by Alan when semi annually Compounded is shown below:-
Accumulated amount of money = Invested amount × (1 + rate of interest × Number of years ÷ 200)^16)
= ($20,000 × (1 + 0.08 × 8 ÷ 200)^16)
= $20,000 × 1.87298
= $37,460
Therefore we have applied the above formulas.
