Answer:
$30.61
Explanation:
Data provided in the question:
Annual Interest rate = 4% = 0.04
Since compounded monthly
Therefore,
Monthly interest rate, r = 0.04 ÷ 12 = 0.0033
Price per share = $30
Number of shares purchased = 100
Total value of shares purchased = $30 × 100
= $3,000
Therefore,
the amount borrowed = Total value of shares purchased
= $3,000
Amount to be paid after 6 months = Principle × ( 1 + r )ⁿ
= $3,000 × ( 1 + 0.0033 )⁶
= $3,060.50
Therefore,
The minimal value of S
= Amount to be paid after 6 months ÷ Number of shares
= $3,060.50 ÷ 100
= $30.605 ≈ $30.61
Answer:
2009
Explanation:
During the 1990s and early 2000s, the overall sale of more efficient cars decreased due to more strict fuel efficiency regulations on trucks and SUVs that actually increased the total number off trucks and SUVs sold, decreasing the average fuel efficiency by 1 mile per gallon.
It wasn't until President Obama passed stricter fuel efficiency regulations for all types of passenger vehicles that the overall efficiency increased.
Answer:
The answer is "$100,000"
Explanation:
Please find the complete question in the attached file.
Given value:
Formula:
Answer:
$330
Explanation:
The computation of the dividend income received as on July 31 is shown below:
where,
Total number of shares purchased is
= 100 shares + 200 shares
= 300 shares
And, the dividend per share is $1.10
So, the dividend income received is
= 300 shares × $1.10
= $330
We simply applied the above formula to determine the dividend income received
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