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Hunter-Best [27]
2 years ago
15

Kremena's bank account earns 4.5% simple interest. How much must she deposit in the account today if she wants it to be worth $1

,250 in 3 years
Business
1 answer:
12345 [234]2 years ago
4 0

Answer:

$1,101.32

Explanation:

Simple interest accounts balances are calculated using the following formula

A = P ( 1 + rt)

where:

A = final account balance

P = starting balance

r = interest rate (annually) percentage divided by 100

t = years

Therefore, we can plug in the values provided in this formula and solve for P which would be the amount that Kremena needs to deposit.

1,250 = P ( 1 + (0.045 * 3))

1,250 = P * 1.135  ... divide both sides by 1.135

1,101.32 = P

Finally, we can see that Kremena would need to deposit a total of $1,101.32 to have the amount that she wants after 3 years.

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Buyers will bear most of the burden of the tax

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3 0
2 years ago
Goldie is a manager in a company that manufactures wrought iron furniture. She assesses the performance of the company by determ
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3 years ago
Department 1 completed and transferred out 450 units and had ending work in process inventory of 60 units. The ending inventory
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Answer:

The equivalent units of production for materials is 570.

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<u>Calculation of equivalent units of production for materials.</u>

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