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Aleks04 [339]
3 years ago
14

Using the rule of 72, t = StartFraction 72 Over r EndFraction, how long will it take for the principal to double with an annual

compound interest rate of 6%?
Business
1 answer:
Leviafan [203]3 years ago
5 0

Answer:

12 years

Explanation:

Given

t = \frac{72}{r}

Required

How long will interest rate of 6\% double

We have:

t = \frac{72}{r}

Substitute 6 for r

t = \frac{72}{6}

t = 12

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What is the award recieved after completing a four year undergrad program called?
madam [21]
The award received after completing a four year undergrad program is called a bachelors degree. 
3 0
3 years ago
Certain types of contracts must be in writing pursuant to the statute of​ _____.
marta [7]

Certain types of contracts must be in writing pursuant to the statute of​ "frauds".


A state statute that necessitates certain kinds of agreements to be written, expected to guarantee that terms of imperative contracts are not overlooked, misconstrued, or fabricated, reason for this is to smother misrepresentation, fraudulent cases, some of the time envisioned in light of ensuing occasions or basically invoked.

5 0
3 years ago
How can insurance protect you from financial loss?
RUDIKE [14]

<em>Answer:</em>

<em>Answer:Insurance policies offer protection against economic loss, that is, loss or damage which can be measured in purely financial terms and compensated by money. When you buy homeowners property insurance.</em>

Explanation:

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6 0
3 years ago
The time value of money suggests that $1 in one year from now is worth less than $1 today.True / False.
mash [69]

Answer:

False, we conclude that $1 in one year from now is worth more than that of today.

Explanation:

The time value of money (TVM) is concept that suggests money available at  present time is worth more than identical sum in future due to potential earning capacity.

This core principle in finance holds that the provided money can earn interest ,  and any amount of money is worth more the sooner it is received.

Also future money is not affected by inflation, only present money is.

Hence we conclude that $1 in one year from now is worth more than that of today.

4 0
4 years ago
Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 150 employees and occupies 43,000
BaLLatris [955]

Answer:

b. $98,625.

Explanation:

Maintenance budget : $99,000

Assembly area: 43,000

Painting Area: 29,000

Maintenance budget allocated to assembly (M):

M=99,000*\frac{43,000}{43,000+29,000}\\M=59,125

Administration budget : $79,00

Assembly employees: 150

Painting employees: 150

Administration budget allocated to assembly (A):

A=79,000*\frac{150}{150+150}\\M=39,500

Therefore, the total amount of indirect factory expenses that should be allocated to the Assembly Department for the current period is:

A = M + P\\A= 59,125 +39,500\\A=98,625

6 0
3 years ago
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