In 9 years after depositing $160, in my savings account would be $289.6
The formula for simple interest and procedure we will use to solve this exercise is:
S.I.= (P*R*T)/100
Where:
- P = principal
- R = rate of interest in % per annum
- T = time
Information about the problem:
- P = $160
- R = 9%
- T = 9 years
- Total amount = ?
Applying the simple interest formula, we get:
S.I.= (P*R*T)/100
S.I.= (160* 9*9)/100
S.I.= $129.6
Calculating the total amount that would be in my savings account, we get:
Total amount = P + S.I.
Total amount = $160 + $129.6
Total amount = $289.6
<h3>What is simple interest?</h3>
It is the operation in which we calculate the profit produced by a capital loaned at a given percentage.
Learn more about simple interest at: brainly.com/question/20690803
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Answer:
Total Fixed Assets = 20 million
Explanation:
Total liabilities and equity = $65 million
Current liabilities = $10 million
Inventory = $15 million
Quick ratio = 3 times.
As we know
Total liabilities and equity = Total Assets
65 Million = Total Fixed Assets + Total Current Assets
65 Million = Total Fixed Assets + 45 million
Total Fixed Assets = 65 million - 45 million
Total Fixed Assets = 20 million
Quick Ratio = ( Total Current Assets - Inventory ) / Total Current Liabilities
3 = ( Total Current Assets - 15 million ) / $10 Million
3 x $10 Million = Total Current Assets - 15 million
30 million = Total Current Assets - 15 million
30 million + 15 million = Total Current Assets
Total Current Assets = 45 Million
Answer:
The firm will pay 480 dollars each year as interest payment.
Explanation:
The interest amount is calculated by multiplying the rate of interest with the amount borrowed. In problem loan is 8,000 dollars and rate of interest is 6%, so the interest amount will be calculated as follow
Interest payment = 8,000 * 6% = 480 dollars
Answer:
Material processing
Explanation:
Materials processing can be said to the series of operations that transforms industrial materials from a raw-material state into finished parts or products.
