The effective compound interest rate is 13.87%.
<h3><u>
What is Compound Interest?</u></h3>
- The interest on a loan or deposit that is calculated based on both the initial principle and the accumulated interest from prior periods is known as compound interest (also known as compounding interest).
- Compound interest, sometimes known as "interest on interest," is said to have its roots in 17th-century Italy. Compared to simple interest, which is calculated solely on the principal amount, it will cause a sum to grow more quickly.
- The frequency of compounding determines the rate at which compound interest accumulates.
- The compound interest increases with the number of compounding periods.
- For instance, during the same period of time, the amount of compound interest accrued on $100 compounded at 10% yearly will be less than $100 compounded at 5% semi-annually.
Nominal = interest rate
That is Nominal rate is also known as interest rate.
Nominal rate = 13.20%
The invested money is compounded quarterly.
Periodic = 13.2%/4 (quarterly)
Periodic rate = 3.30%
Now,
The interest rate that accounts for compounding over a specific time period is called the Effective Annual Interest Rate (EAR). The rate of interest that an investor can earn (or pay) in a year after taking into account compounding is known as the effective annual interest rate, to put it simply.
Effective annual rate = EFF% = [1 + (0.13200 / 4)]⁴ - 1 = 13.87%
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Answer:
$6 per unit
Explanation:
using the weighted average method:
units completed 92,000 x 100% (both materials and conversion)
ending work in progress 24,000
- materials 90% completed = 21,600
- conversion 40% completed = 9,600
equivalent unit conversion costs = total conversion costs / total equivalent units of conversion
- total conversion costs = $20,320 + $15,240 + $$182,880 + $391,160 = $609,600
- total equivalent units of conversion = 92,000 + 9,600 = 101,600
equivalent unit conversion costs = $609,600 / 101,600 units = $6 per unit
The nations selling the gasoline would be in trouble. They would earn less money and the possibility of a depression like the one the US had under Hoover and FDR would occur.
Answer:
d. Supply is perfectly elastic.
Explanation:
Perfectly elastic supply is when a change in price causes supply to fall to zero.
The supply curve is usually an horizontal line.
I hope my answer helps you
Answer:
Mary is relying on <u>referral marketing</u> to identify potential customers.
Explanation:
Referral marketing is a method of spontaneously promoting a businesses products and services to new customers by word of mouth. This can happen through a variety of channels such as email, mobile, and social media.
Referral programs are formal programs that exists in some organizations instituted by employers to encourage employees to refer candidates for jobs at the company.
Referral programs benefit both the employer and the current employees. In some cases, a bonus can be earned if a referred candidate is hired.
