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2 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]2 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]2 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.

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Rodriguez and Ying start a partnership on July 1, 2019. Rodriguez contributes $4,100 cash, furniture with a current market val

guapka [62]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $4,100

Equipment A/c Dr $23,000

Furniture A/c Dr $47,000

To Account payable $16,000

To Rodriguez's Capital $58,100

(Being all adjustments are recorded and the remaining balance is credited to Rodriguez's Capital.

Remaining balance is calculated by

= Cash A/c + Equipment A/c + Furniture A/c - Accounts payable

= $4,100 + $23,000 + $47,000 - $16,000

= $74,100 - $16,000

= $58,100

6 0

2 years ago

Desktop management__________.a. increases the cost of configuration management over the long termb. requires managers to install

ryzh [129]

Answer:

C) automatically produces documentation of software installed on each client computer

Explanation:

Desktop management refers to managing all the company's computers. Even though the word desktop is used, it includes managing and overseeing all the devices of the organization including laptops, tablets and even smartphones. Desktop management is a part of systems management.

8 0

2 years ago

The consumption function shows the relationship between consumption spending and _______. The slope of the consumption function

Stella [2.4K]

Answer:

Consumption Function : Relationship between Consumption Spending & Income

Consumption Function Slope = Marginal Propensity Curve (MPC)

Change in Consumption = Change in Income X MPC

Explanation:

Consumption Function is the curve representing relationship between Consumption spending and Income.

C = a + bY ; where :- C = Consumption , Y = Income , a = Autonomous Consumption i.e consumption at 0 level of income , b = MPC i.e additional consumption consumed from additional income = ΔC / ΔY

b = MPC i.e change in C due to additional change in Y = ΔC / ΔY is the slope of Consumption Function

MPC = ΔC / ΔY .

So, change in consumption i.e ΔC = MPC X ΔY

6 0

2 years ago

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus

Pavel [41]

Answer:

The correct answer is C: Bonus= $24000

Explanation:

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus of 20 percent of income after deduction of the salary allowance.

The formula to calculate the bonus is:

Bonus=0,20*(Income-salary)

If income is $150000

Bonus= 0,20*(150000-30000)=$24000

8 0

2 years ago

Ramort Company reports the following cost data for its single product. The company regularly sells 20,000 units of its product a

kotykmax [81]

Answer:

Contribution margin per unit= $33

Explanation:

Giving the following information:

The company regularly sells 20,000 units of its product for $60 per unit.

Direct materials $ 10 per unit

Direct labor $ 12 per unit

Overhead costs for the year Variable overhead $ 3 per unit

Fixed overhead per year $ 40,000

Selling and administrative costs:

Variable $ 2 per unit

Fixed $ 65,200

Normal production level= 20,000 units

Contribution margin= Selling price - unitary variable costs

Unitary variable cost= direct materials + direct labor + variable manufacturing overhead + variable selling and administrative

Unitary variable cost= 10 + 12 + 3 + 2= $27

Contribution margin per unit= 60 - 27= $33

3 0

2 years ago