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Vilka [71]
3 years ago
14

Sam received $10.50 in interest after placing money in his bank. if the account paid 4% in simple interest and he only left it i

n the account for 9 years, what is the principal?​
Business
1 answer:
ozzi3 years ago
7 0

Answer:

$29.166

Explanation:

I = p x r x t

Where I= Interest: $10.50

P= principal amount: ????

r= interest rates: 4% or 0.04

t= time in years: 9

Therefore;

$10.50 = P x 0.04 x 9

$10.50 = P0.36

P=$10.50/0.36

P=29.166

Principal = $29.166

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Using the substitution theorem and the important equivalences (handout) show the following equivalence. Use only one substitutio
vlada-n [284]

Answer:

Explanation:

Commutative laws: p ∧ q ≡ q ∧ p

p ∨ q ≡ q ∨ p

Associative laws: (p ∧ q) ∧ r ≡ p ∧ (q ∧ r)

(p ∨ q) ∨ r ≡ p ∨ (q ∨ r)

Distributive laws: p ∧ (q ∨ r) ≡ (p ∧ q) ∨ (p ∧ r)

p ∨ (q ∧ r) ≡ (p ∨ q) ∧ (p ∨ r)

Identity laws: p ∧ t ≡ p

p ∨ c ≡ p

Negation laws: p ∨ ∼p ≡ t

p ∧ ∼p ≡ c

Double negative law: ∼(∼p) ≡ p

Idempotent laws: p ∧ p ≡ p

p ∨ p ≡ p

Universal bound laws: p ∨ t ≡ t

p ∧ c ≡ c

De Morgan’s laws: ∼(p ∧ q) ≡ ∼p ∨ ∼q

∼(p ∨ q) ≡ ∼p ∧ ∼q

Absorption laws: p ∨ (p ∧ q) ≡ p

p ∧ (p ∨ q) ≡ p

Negations of t and c: ∼t ≡ c

∼c ≡ t

6 0
3 years ago
Currie Company borrowed $13,000 from Sierra Bank by issuing a 10% three-year note. Currie agreed to repay the principal and inte
Luda [366]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
7 0
4 years ago
Phyllis, Inc., earns book net income before tax of $600,000. Phyllis puts into service a depreciable asset this year, and first
AnnZ [28]

Answer:

b. $210,000

Explanation:

The computation of the total income tax expense is shown below:

= Net income before tax × U.S tax rate

= $600,000 × 21%

= $210,000

As in the question, the net income before tax includes depreciation expense so we do not add it again. That's why we do not consider the depreciation expense in the computation part.

8 0
4 years ago
Typically, your monthly checking account statement balance will be different from the balance in your check register. Which of t
Ivenika [448]

Answer:

a. You've completed some transactions during the time period between when the statement was printed and when it was received by you

Explanation:

The balance on the check register and that shown for the business in its account statement, at a point in time, will rarely be the same.

Differences might be caused by any of the following:

Items recorded in the check register are not (yet) shown in the account statement.

Items in the account statement that have not been recorded in the check register.

Based on the above discussion, the answer shall be a. You've completed some transactions during the time period between when the statement was printed and when it was received by you

5 0
3 years ago
A company is considering the purchase of a new machine for $55,000. Management predicts that the machine can produce sales of $1
Ymorist [56]

Answer:

5.32 years

Explanation:

Particulars                 Amount

Sales                           $16,700  

Less: Expenses          <u>$7,300</u>

Profit before tax         $9,400  

Less: income tax        <u>$3,760</u>

Net income                 $5,640

Add: Depreciation      <u>$4,700</u>

Annual Cash flow      <u>$10,340</u>

So, the payback period for the new machine = Total investment/Annual cash flow = $55,000 / $10,340 = 5.319148936170213 = 5.32 years

6 0
3 years ago
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