Future Value is $7,327.20
<h3>What is compound interest ?</h3>
Compound interest is the interest on deposits that is computed using both the original principal and the interest accrued over time.
It is thought that the concept of "interest on interest" or compound interest first appeared in Italy in the 17th century. Compared to simple interest, which is just charged on the principal amount, it will cause a sum to grow more quickly.
Money grows more quickly when it is compounded, and compound interest increases as the number of compounding periods increases.
CI formula : A = P(1 + r/n)^nt
where,
P = principal balance,
r = interest rate,
n = number of times interest is compounded per time period and
t = number of time periods.
To solve this question :
A = P(1 + r/n)^nt
= 6,000 (1 + 0.02/12) 120
= USD 7,327.20
To know more about compount interest, visit :
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Answer:
increase assets by $13,000, increase liabilities by $13,000 and have no effect on equity.
Explanation:
Given that
The total cost of purchase of delivery truck = $15,000
Cash paid = $2,000
The accounting equation equals to
Total assets = Total liabilities + owners equity
The remaining amount left would be equal to
= $15,000 - $2,000
= $13,000
So it would increase the assets for $13,000 as the delivery truck is purchased plus there is also an increase in liabilities for $13,000 as it signed a note payable and there is no effect on equity
The answer is C. “There is a major city 50 miles away from the region”.
Answer:
Total unitary cost= $16.2
Explanation:
<u>First, we need to compute the total fixed overhead:</u>
Total fixed overhead= 10,000*6= 60,000
<u>Now, the unitary absorption cost for 12,500 units:</u>
Direct labor= 2.8
Direct materials= 3.8
Variable overhead= 4.8
Total variable cost= $11.4
Fixed overhead= (60,000/12,500)= 4.8
Total unitary cost= $16.2
The unitary cost is lower.
Answer:
(a)Let X1 be the number of economy tires and X2 be the number of premium tires.
Objective function:
Maximize Z, where Z = 12X1 + 10X2
Subject to constraints
4X1/3 + X2/2 <= 600
4X1/5 + X2 <= 650
X1/2 + 2X/4 <= 580
X1/5 + X2/3 <= 120
X1, X2 = Z
(b) Check attachment for spreadsheet
(c) The maximum profit that can be obtained is $6032
