Since john pays back the amount of $120, then, the interest is known as Simple interest.
The Simple interest is the easiest method of calculating an interest rate on a loan.
- However, the compound interest is entails interest derived on a loan based on initial principal and the accumulated interest over period of time
Hence, since john pays back the amount of $120, then, the interest is known as Simple interest because the interest is not accumulated.
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Answer: A. What was your average compounded return per year over a particular period?
Explanation:
Geometric return is calculated by the formula;
= [(1 + r1) * (1 + r2) * (1 + r3) *.... (1 + rn)] ^1/n
This allows for one to calculate the compounding effect over a period of time by showing the compounded annual growth rate which means that it tells what the average compounded return was per year in a particular period.
Good judgement is important in making decisions when budgeting because they can allow one to predict fairly accurately what the costs will be of a particular project based on one's own experience and of the current prices of supplies and say drilling charge rates and also with an adequate allowance for contingency.
Answer:
$52,000
Explanation:
Bonus is 20% on annual net income, after deducting the bonus.
Let the annual income after deducting bonus be g
Then,
Bonus = 20% of g
= 0.2g
Annual income before bonus = annual income after bonus + bonus
312,000 = g + 0.2g
g = 312000/1.2
g = $260,000
Bonus = 0.2g
= 0.2 × 260,000
= $52,000
Answer:
No answer is correct.
If we use the values set by the IRS for 2019, the total travel costs deduction = $290.58.
If we use the 2018 value, the total travel costs deduction = $273.05
Explanation:
The new mileage reduction set by the IRS for 2019 is 58 cents (up from 54.5 cents) per mile. Since Jermaine had to travel 3 times during the year and drove for 167 miles, his total deduction should be:
- total travel costs deduction = 3 x 167 x $0.58 = $290.58
If we use the 2018 deduction rates, Jermaine's total travel deduction will be:
- total travel costs deduction = 3 x 167 x $0.545 = $273.05
