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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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adoni [48]

Answer:

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Explanation:

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I hope this helps.

3 0

3 years ago

if an average person earns $100.00, and has 25% taken out for taxes, how much will they pay in taxes?

NNADVOKAT [17]

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3 years ago

An important feature of a job order cost system is that each job:_______.

sammy [17]

Answer:

Explanation:

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6 0

3 years ago

Transformational leadership is a positive predictor of job performance and organizational commitment.

Taya2010 [7]

Answer:

a. True

Explanation:

Transformational leadership can be understood as a leadership style whose main objective is the motivation of employees. The transformational leader is the one who seeks to inspire employees through their own example and willingness to work, is the leader who assertively communicates with his team, seeking the autonomy of employees, building a relationship based on trust and increasing of creativity and organizational innovation.

This leadership style is a positive indicator of organizational performance and commitment because it is based on strengthening the organizational culture, where each employee has the possibility to contribute with innovative ideas in favor of the organization's objectives and goals, which creates a sense of greater appreciation and job satisfaction, greater motivation that increases the employee's creativity and productivity.

4 0

2 years ago

Variable Costing Income Statement for a Service Company The actual and planned data for Underwater University for the Fall term

Mkey [24]

Answer:

Underwater University Variable Costing Income Statement For the Fall Term:

Actual Planned Variance

Number of Enrollment 4,500 4,125 375

Credit hours 60,450 43,200 17,250

Revenue $7,254,000 $5,832,000 $1,422,000

Variable costs:

Registration, records,

& marketing costs $1, 237,500 $1,134,375 $103,125

Instructional costs 3,868,800 2,592,000 1,276,800

Total variable costs $5,106,300 $3,726,375 $1,379,925

Contribution margin $2,147,700 $2,105,625 $42,075

Depreciation on classrooms

& equipment $825,600 $825,600 $0

Operating income $1,322,100 $1,280,025 $42,075

Explanation:

Variable costing income statement is an income statement which shows the contribution that revenue makes in paying for the fixed costs, before arriving at the Operating Income. In variable costing, there is a separation of variable costs from periodic or fixed costs. All direct materials, labor, and variable overheads are charged to the variable costs, while fixed costs are expensed to the period for which they are incurred.

5 0

3 years ago