To solve for total costs = $3,091 + $2,208 + $1,887 = $7,186 then we need to divide this based on the 662 arrangements she normally produces = $10.85 per arrangement is what she spends.
To solve for total revenue = (611)($10.85) = $6,632 total costs for 611 arrangments. (611)($39) = $23,829 - $6,632 = $17,197 is the total revenue earned for 611 arrangments.
Option answer:
d. Interest = $10.64 and New Balance = $360.64
Answer:
A = $360.64
A = P + I where
P (principal) = $350.00
I (interest) = $10.64
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 1.5/100
r = 0.015 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 350.00(1 + 0.015/4)(4)(2)
A = 350.00(1 + 0.00375)(8)
A = $360.64
Summary:
The total amount accrued, principal plus interest, with compound interest on a principal of $350.00 at a rate of 1.5% per year compounded 4 times per year over 2 years is $360.64.
Answer:
Self-interest helps achieve society's economic goals because as consumers and producers exercise their<u> freedom</u> to act in their own self-interest markets will produce the desired goods at the<u> lowest </u>possible cost.
