All categories

3 years ago

Suppose you have $100 in a saving account earning 2 percent interest a year.after five year how much would you have

Business

2 answers:

arlik [135]3 years ago

6 0

Answer: Roughly $110.40

Explanation:

100 x (1.02)^5

The 1.02 is just 100 percent of the number plus the 2 percent interest you make.

likoan [24]3 years ago

4 0

Answer:

$110.41

Explanation:

Provided that the interest is a "compounding interest," you will have $110.41 in 5 years. A compounding interest allows you to calculate the interest you can earn on your accumulated interest over time in addition to your deposit.

Let's calculate the interest on a yearly basis.

1. First year = $100 x 20% (0.02) = $2

You have to add $2 to the initial deposit of $100.

$100 + $2 = $102

2. Second year = $102 x 20% (0.02) = $2.04

$102 + $2.04 = $104.04

3. Third year = $104.04 x 20% (0.02) = $2.0808

104.04 + $2.0808 = $106.1208

4. Fourth year = $106.1208 x 20% (0.02) = $2.122416

$106.1208 + $2.122416 = $108.243216

5. Fifth year = $108.243216 x 20% (0.02) = $2.16486432

$108.243216 + $2.16486432 = $110.408 or $110.41

After five years, you will have $110.41.

You might be interested in

You found that you should stock and sell 50 or 400 cans of beans per week in order to break even. In part (g) you are asked what

zubka84 [21]

Answer:

Option C is correct P(q) = -0.005q^{2} + 2.25q - 100

Explanation:

Profit P(q) = R(q) – C(q)

Profit = Revenue – Cost

So,

P(q) = -0.005q^{2} + 2.5q - 100 – 0.25q

P(q) = -0.005q^{2} + 2.25q - 100

In order to find break even, you should plug 50 and 400 into the formula P(q) = -0.005q^{2} + 2.25q - 100

4 0

4 years ago

Severance pay plans grant employees weekly benefits in addition to state unemployment compensation. True

Yanka [14]

Answer:

False

Explanation:

In simple words, Severance pay can be understood as a salary and/or incentives given to an individual by a company after the job is over. In order to help an individual obtain a new job, severance arrangements can include additional rewards, such as life care and observer ship support.

Thus, the weekly benefits are not included in this and the above statement is incorrect.

4 0

3 years ago

If Vickers Company issues 5,000 shares of $5 par value common stock for $175,000, A. Paid-In Capital in Excess of Par will be cr

Sindrei [870]

Answer:

option A is correct

Paid-In Capital in Excess of Par will be credited for $150,000

Explanation:

Given data

share = 5000

share value = $5 / common stock

cash = $175000

to find out

find the option which is correct

solution

we know here we have cash value $175000

and

total common stock is = share × share value

total common stock =5000 × 5

total common stock value is $25000

so paid capital in excess = cash - total common stock value

paid capital in excess = 175000 - 25000

paid capital in excess is $150000

so option A is correct

Paid-In Capital in Excess of Par will be credited for $150,000

4 0

3 years ago

A major casual dining chain decided to install tablet computers at the booths in their restaurants. Customers can now browse the

neonofarm [45]

Answer: They can best be classified as structurally unemployed.

Explanation:

Unemployment which has resulted because of the change in technology that is implemented in a business can be called as the structural unemployment. The skills demanded by the employers differs from the skills offered by the workers.

The casual dining has replaced the employees with tablets which is cost beneficial for the business. The employees who have lost their jobs due to technological change at workplace is called as structural unemployment. Here the casual dining is said to have industrial reorganization for various benefits.

3 0

4 years ago

In June, The Forest Ltd. received a $5,000 cash payment for work billed the previous month. During June, the company replanted a

Sloan [31]

Answer:

The Forest Ltd.

The revenue for June was:

$21,585.

Explanation:

a) Data:

Cash receipt from customers for May = $5,000

Invoice for June services rendered = $21,585

Beginning inventory of trees = $1,000

Purchases of trees = $4,000

Ending inventory of trees = $500

Cost of trees planted = $4,500

Office rent expense = $1,000

Miscellaneous expenses = $3,000

Depreciation on truck and office equipment = $500

Income tax rate = 10%

Revenue for June = $21,585

b) The revenue of Forest Ltd. for the month of June can be calculated as the number of trees replanted multiplied by the average price of replanting services provided. Assuming that cost of the trees replanted and other expenses incurred are subtracted from the company's revenue, then one arrives at the income before tax. After the deduction of the tax expense for the month, the resulting balance is called the net income or loss.

8 0

3 years ago