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3 years ago

Trevor Williams’ bank calculates interest daily. At an APR of 3%, how much simple interest does $2,000 earn in twelve days?

Business

2 answers:

Oxana [17]3 years ago

8 0

To calculate Trevors' interest amount in twelve days use the following formula

Prt = I

Principal = $2,000

Rate = 0.03

Time = 12/365

Interest = ?

($2,000)(0.03)(12/365) = I

I = $1.97

pishuonlain [190]3 years ago

6 0

The answer is $1.97.

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A bank loans money at an annual rate of 20 percent. Interest is compounded daily. What is the actual rate the bank is charging?

NeX [460]

Answer:

22.13%

Explanation:

The effective annual rate formula below can be used to determine the actual rate charged by the bank as follows:

Effective annual rate=(1+APR/n)^n-1

APR=20%

n=number of times interest is computed yearly=365

Effective annual rate=(1+20%/365)^365-1

Effective annual rate=1.221335858 -1

Effective annual rate=22.13%

The actual rate of interest on bank loan is 22.13%

8 0

3 years ago

an Corporation of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisions f

irinina [24]

Answer:

Part 1 - ROI

In terms of Margin :

Division Osaka = 20 %

Division Yokohama = 14 %

In terms of Turnover :

Division Osaka = 400 %

Division Yokohama = 200 %

Part 2 - Residual Income

Division Osaka = $182,000

Division Yokohama = $210,000

Explanation:

<em>Return on investment (ROI) = Divisional Profit Contribution / Assets Employed in the division x 100</em>

In terms of Margin :

Division Osaka = $ 455,000 / $ 2,275,000 x 100 = 20 %

Division Yokohama = $ 1,470,000/ $ 10,500,000 x 100 = 14 %

In terms of Turnover :

Division Osaka = $ 9,100,000 / $ 2,275,000 x 100 = 400 %

Division Yokohama = $ 21,000,000/ $ 10,500,000 x 100 = 200 %

<em>Residual income = Controllable Profit - Cost of Capital Charge on Controllable Investment</em>

Therefore,

Division Osaka = $ 455,000 - $ 2,275,000 x 12 % = $182,000

Division Yokohama = $ 1,470,000 - $ 10,500,000 x 12 % = $210,000

8 0

3 years ago

Which is not capital? the computer used by an accountant the person whose photograph is snapped by the candid photographer the p

Dmitry_Shevchenko [17]

The answer is: the person whose photograph is snapped by the candid photographer.

Capital refers to accumulation of assets that is owned by a certain individual or organization that can be used to generate more income.

Candid photographers only take picture of the environment around them naturally (without any edits or settings). This mean that the person who is being photographed is not being paid. Since that person does not generate income, it cannot be considered as a capital.

4 0

3 years ago

Read 2 more answers

Gannon Company acquired 10,000 shares of its own common stock at $20 per share on February 5, 2014, and sold 5,000 of these shar

DiKsa [7]

Answer:

The credit entry for the issue of 5000 shares is:

Cr Treasury stock $100,000

Cr Paid-in capital from treasury stock $35,000

Explanation:

The par value of the common stock issue($20 per share) is credited to treasury stock account, while the excess of issue price of $27 over the par value of $20, $7 per share is credited to paid-in capital from treasury stock

The full double entries for the issue of 5000 shares is as follows:

Dr Cash ($27*5000) $135,000.00

Cr Treasury stock($20*5000) $100,000

Cr Paid-in capital from treasury stock($7*5000) $35,000

Under International Financial Reporting Standards, the credit entries would be that par value is credited to equity share capital and the excess credited to share premium account.

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3 years ago

What is the main cause for low birth weight in developed countries?

Kazeer [188]

Thank you for posting your question here at Brainly!~

I believe the correct answer to the question being asked is "malnourishment."

Hope I helped!~ Brainliest appreciated.

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3 years ago