**Answer: 35 years**

**Explanation:**

Where,

A - the ending amount,

P - the beginning amount (or "principal")

r - the interest rate (expressed as a decimal)

n - the number of compounding a year

t - the total number of years

n=1, t=?, P = $50,000, r=0.09, A= $1,000,000

Therefore,

Taking log on both sides

log(20) = t log(1.09)

1.30103 = 0.0374264979 t

t = 34.7622

**So answer is 35 years.**

**Answer:**

**A. $6,300**

**Explanation:**

The computation of the ending balance of uncollectible account is shown below:

**= Opening balance of the uncollectible accounts + uncollected amount - bad debt written off**

where,

** uncollected amount = Credit sales × given percentage**

= $450,000 × 3%

= $13,500

The other item values would remain the same

Now put these values to the above formula

So, the value would equal to

= $10,800 + $13,500 - $18,000

**= $6,300**

Competition Increased over time

According to apex it is medical bills

To calculate the effective interest rate you'll need the following formula.

(1+ APR / n ) ^n -1 *100.

IT looks alot harder than it is.

APR has to be expressed as a decimal, so 0.1642.

n is the period. as it is daily, n=365.

1+(0.1642/365) to the power of 365. will give you 1.1784....

Minus 1, and times by 100 to get it as a percentage = **17.84**%