Meg invested $16,000 in a savings account. if the annual interest rate is 6%. In 5 years for quarterly compounding is $ 21,549.68.
<h3>What is interest rate?</h3>
- The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate (called the principal sum).
- The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
- The interest rate over a year is known as the annual interest rate.
- Other interest rates are applicable over shorter time frames, such a day or a month, but they are typically annualized.
<h3>What is saving account?</h3>
- An account in a retail bank is a savings account.
- Common characteristics include having a finite number of withdrawals allowed, not having check or connected debit card facilities, having few transfer choices, and not being able to become overdrawn.
- Savings account transactions were typically recorded in a passbook in the past, hence the term "passbook savings accounts," and bank statements were not typically supplied.
- Nowadays, same transactions are typically recorded electronically and are available online.
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Answer:
The stock price after the dividend payment is $100 per share
Explanation:
According to the data the Dividend per year is $1,000 and the Required Rate of Return is 10%
.
Hence, in order to calculate the stock price after the dividend payment we have to use the following formula first:
Stock price = [Total Dividend amount / Required rate of return]
Stock price = [$1,000 / 0.10]
Stock price = $10,000
Finally the Stock price after the dividend payment. = [Total Stock Value / Number of outstanding shares]
Total Stock value = $10,000
Number of outstanding shares = 100 shares
Stock price after the dividend payment = [$10,000 / 100 shares]
Stock price after the dividend payment = $100 per share
Answer:
Allocated MOH= $234,000
Explanation:
Giving the following information:
Predetermined overhead rate= $9 per direct labor hour.
Actual direct labor hours= 26,000
<u>To allocate manufacturing overhead, we need to use the following formula:</u>
<u></u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 9*26,000
Allocated MOH= $234,000
Answer:
B. There is an increase in income and "spring shoes" are a normal good.
Explanation:
To eliminate the disequilibrium in the market for shoes, spring shoes firstly needs to be seen as a normal product because if it is seen an inferior product then as people's Income rises they woudnt want to buy inferior products because they have the income to buy normal products. As people income rises, since spring shoes is seen as a normal product, then people will buy springshoes
