1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
worty [1.4K]
3 years ago
13

How much must harry's hardware deposit at a 14.5% annual interest for 240 days in order to earn $500 in simple interest?

Business
2 answers:
trapecia [35]3 years ago
7 0

Answer:

Total deposit to earn $500 simple interest at 14.5% annual interest for 240 days is $5244.25287356

Step-by-step explaination:

Given, annual interest= 14.5%

        Time = 240 days = \frac{240}{365}yrs

             S.I = $500

we have to find the deposit to earn $500 simple interest at 14.5% annual interest for 240 days

∴ By simple interest formula,

S.I = \frac{P\times R\times T}{100}

⇒    500 = \frac{P\times 14.5 \times \frac{240}{365} }{100}

⇒    P=\frac{500\times 365 \times 100}{145\times 24}=5244.25287356

Hence, Total deposit to earn $500 simple interest at 14.5% annual interest for 240 days is $5244.25287356

marissa [1.9K]3 years ago
5 0

To get the formula for the principal, we will use the formula for the interest and derived it from there:

I = Prt is the equation then it will be P = I /rt since we are looking for the principal.

 

P = I /rt

 

= $500 / (0.145 x 240/360)

 

= $500 / 0.0967

 

= $5170.63

 

To check:

I = Prt

 

= $5170.3 x 0.145 x 240/360

 

= $499.8 or $500

You might be interested in
A restaurant chain hires two new restaurant managers. One manager is a woman, and one is a man. Both candidates are equally qual
slava [35]

Answer:

Equal Employment Opportunity Commission

Explanation:

The entity that would be involved in this case is the the EEOC. That is the equal employment opportunity commission. The violation that has occurred here is that both the man and the woman are equally qualified for this job but the owner wants to pay the woman a smaller salary compared to what he wants to pay the man. The EEOC handles such matters of discrimination to employees and workers based on gender, race, religion etc.

8 0
3 years ago
Selling goods only at certain predetermined prices that reflect definite price breaks is called .
Firlakuza [10]

selling goods only at certain predetermined prices that reflect definite price breaks is called Price lining

Price lining, also known as product line pricing, is a marketing tactic where a company charges for its products in accordance with its quality, features, or other characteristics to set them apart from competing ones.

Price line, to put it simply, is the practice of placing comparable products in various price ranges, each of which differs significantly in terms of the characteristics or qualities it offers. These brackets typically have lower starting prices and higher price points.

Despite having "price" in its name, price lining is a marketing tactic. The major goal of this strategy is to increase sales and audience size by making the offering more appealing to a wider range of consumers.

Apple, a company that makes smartphones, is a good illustration of price lining in action. Apple offers its iPhone lineup in a range of price points, with each model differing mainly in the small number of extra features that are added to the more expensive ones. Instead of solely selling expensive iPhones, Apple now offers a variety of models to appeal to customers with varying levels of purchasing power, which helps them grow sales.

To know more about price lining

brainly.com/question/7250116

#SPJ4

8 0
1 year ago
If a currency such as the​ US$ is traded in a competitive​ market, a(n)​ ________ in demand for the​ US$ ________ the price of t
Lerok [7]

Answer:

If a currency such as the​ US$ is traded in a competitive​ market, a(n)​ increase in demand for the​ US$ raises the price of the​ US$ in terms of another currency such as the Japanese Yen ​(yen​).

Explanation:

Basic offer and demand law.

5 0
3 years ago
Which of the following statements about marketing is true? Multiple Choice A marketing exchange focuses on making a single trans
klemol [59]

Answer:

Marketing only occurs when two or more parties are willing to exchange one thing for another thing.

Explanation:

It is understood that marketing only occurs when two or more parties are willing to exchange one thing for another thing.

5 0
3 years ago
Rachel receives employer-provided health insurance. The employer's cost of the health insurance is $5,600 annually. What is her
kati45 [8]

Answer:

$4,424

Explanation:

Calculation for her employer's after-tax cost of providing the health insurance

Using this formula

After-tax cost =Annually employer's cost of health insurance -(=Annually employer's cost of health insurance*Marginal tax rate)

Let plug in the formula

After-tax cost =$5,600- ($5,600 × 21%)

After-tax cost =$5,600- $1,176

After-tax cost =$4,424

Therefore her employer's after-tax cost of providing the health insurance is $4,424

8 0
3 years ago
Other questions:
  • Compared to products, service marketing is more challenging because
    9·2 answers
  • Which of the following is a difference between the marketing concept and the selling concept?
    6·1 answer
  • Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of
    14·1 answer
  • When the share of individual income tax collected by the government from people with higher incomes is smaller than the share of
    8·1 answer
  • _______ are the major source of long-term debt financing for most corporations.
    9·2 answers
  • Brief Exercise 4-09 At Raymond Company, the following errors were discovered after the transactions had been journalized and pos
    8·1 answer
  • A unit of ownership in a corporation is a
    7·1 answer
  • John decided to leave his job and open a bookshop in the city center. He was working as an engineer before and getting an annual
    14·1 answer
  • Temporary Aid to Needy Families (TANF) a. A welfare program that replaced AFDC in 1996. It introduced a new education requiremen
    10·1 answer
  • Select the correct answer. cameron purchased an electric guitar for $1,875. the value of the guitar depreciates by 20% each year
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!