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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.

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Johnson, Inc. a builder enters into an agreement to construct a commercial building in a residential area in violation of zoning

lubasha [3.4K]

None of the alternatives are correct.

Explanation:

When a builder enters into an agreement to construct a commercial building in the residential areas that violates the laws , as a result the government stops construction. If such a scenario occurs the workers will not be paid as the construction process has stopped, so no productivity will take place and thus the workers will have to face the scenario.

While signing a contract the contractor must have proper knowledge regarding the property. Otherwise the workers will not be able to earn their daily wage.

7 0

3 years ago

Many organizations are concerned about the rising cost of employee benefits and question their value to the organization and to

-Dominant- [34]

Explanation:

The benefits that organizations offer their employees are essential to add value to the job function. Through them, it is possible for the organization to attract and retain qualified employees, in addition to creating a favorable and positive organizational environment for the development of professional skills. The benefits help to motivate the employee and improve the perception and appreciation of their position and the company.

The benefits that most add value to employees are health and retirement plans, in addition to dental plans, paid vacations, etc. These benefits are not mandatory for the employer, but they are great differentials in differentiating jobs in the view of individuals.

5 0

3 years ago

A fifteen-year adjustable-rate mortgage of $117,134.80 is being repaid with monthly payments of $988.45 based upon a nominal int

Sedbober [7]

Answer:

Using an excel spreadsheet I prepared an amortization schedule. For the 61st payment, the interest rate is increased from 0.5% to 0.625% monthly.

(a) Calculate the loan balance immediately after the 84th payment.

$77,884.78

(b) Calculate the amount of interest in the 84th payment.

$489.90

$12,168.43

As you can see, the interest amount for the 61st payment increases, while it had been decreasing previously.

Download pdf

3 0

3 years ago

Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at th

masha68 [24]

Answer:

Materials = 44,000

Conversion = 40,800

Explanation:

Step 1 Determine the Number of Closing Work In Process Units

Closing Work In Process Units = Opening Work In Process Units + Units started in process - Units transferred out

= 6,000 + 38,000 - 36,000

= 8,000

Step 2 Determine the equivalent units for March 2019

Materials :

Note : Materials are added at the be-ginning of the process, therefore Units Transferred Out and Closing Work In Process are 100% complete in terms of materials

Closing Work In Process Units - 100% = 8,000

Units transferred out - 100% = 36,000

Total equivalent units = 44,000

Conversion :

Note : Ending work-in-process was 60% processed, therefore 60% completed in terms of conversion costs

Closing Work In Process Units - 60% = 4,800

Units transferred out - 100% = 36,000

Total equivalent units = 40,800

7 0

3 years ago

Credit sales 172,000 collections on accounts receivable during the year 170,000 cash sales 818,000 unadjusted debit balance in a

Marina CMI [18]

Answer:

$250 ( C )

Explanation:

using the given data below is the entry

The adjusting entry to recognize bad debts will include a debit to bad debt expense for

<h3> particulars amount</h3>

Beginning accounts receivable 14000

+ Credit sales made during the year 172000

(-) collections from debtors (170000)

(-) expected salary return & allowances for credit sales (2000)

Ending accounts receivable 14000

Percentage of bad debt 1.5%

Total bad debts balance required ( 14000*1.5%) 210

+ Already debit balance in allowance for doubtful account 40

Total debit to be made in bad debts 250

Total debts = total bad debts balance required + already debit balance in all

= 210 + 40 = $250

7 0

3 years ago