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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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Chapter 3 Homework Questions 3, 4 3. Balance Sheet. Construct a balance sheet for Sophie’s Sofas given the following data. What

Svet_ta [14]

Answer:

BALANCE SHEET

Assets Liabilities

Cash 10,000 Account Payable 17,000

Account Receivable 22,000 Long term 170,000

Inventory 200,000 Total Liab 187,000

non-current assets 100,000 Equity 145,000 (A)

total assets 332,000 Total liab + SE 332,000

Earnings before interest and taxes: 11,000 dolllars

Net income 8,000

Explanation:

(A) solve through the accounting equation

assets = laib + equity

332,000 = 187,000 + Equity = 332,000 - 187,000 = 145,000

income tax expense: 2,000

rate 20%

Earnings before taxes x 20% = 2,000

EBT = 2,000 / 0.2 = 10,000

Net income : 10,000 - 2,000 = 8,000

EBIT: EBT + interest expense

10,000 + 1,000 = 11,000

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3 years ago

Help, can someone tell me if this memo is ineffective or effective? (This is an example)

charle [14.2K]

Answer: It is ineffective

Explanation:. Because it has no meaning its just someones opinion its not really anything that involves inportant stuff hope this helps :)

7 0

3 years ago

Martin received a nonstatutory stock option from his employer on January 1, 2018. The option gives him the right to purchase 100

Ksju [112]

Answer:

Correct answer is option A

Explanation:

In case of non-statutory stock option, income which is fair market value less any cost incurred for stock options, is included when the stock options are exercised.

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3 years ago

The principle of opportunity cost is that:a. in a market economy, taking advantage of profitable opportunities involves some mon

romanna [79]

Answer:

Option B

Explanation:

The opportunity cost refers to the situation when an option is selected from alternatives and is the "cost" borne by not having the gain associated with the best value choice.

Simply put, the cost of opportunity is the gain not earned because the next best option is not chosen. Opportunity costs are an important economic notion and are defined as conveying "the fundamental engagement between shortages and selection." The notion of cost of opportunity plays an important role in efforts to make productive use of limited resources.

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3 years ago

Assume that by devoting all of its resources to the production of x, nation alpha can produce 40 units of x. by devoting all of

riadik2000 [5.3K]

Answer:

B) alpha should specialize in y and beta in x.

Explanation:

the production possibilities frontier of nation Alpha are:

40 units of X
60 units of Y

the opportunity cost of producing 1 unit of X = 60 / 40 = 1.5 units of Y

the opportunity cost of producing 1 unit of Y = 40 / 60 = 0.67 units of X

the production possibilities frontier of nation Beta are:

60 units of X
40 units of Y

the opportunity cost of producing 1 unit of X = 40 / 60 = 0.67 units of Y

the opportunity cost of producing 1 unit of Y = 60 / 40 = 1.5 units of X

Alpha should specialize in producing Y and Beta should specialize in producing X because their opportunity costs are lower.

7 0

3 years ago