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Ymorist [56]
3 years ago
12

If you put $50 in a savings account that paid 10% compounded yearly, how much interest would you earn in 3 years?

Business
1 answer:
stepladder [879]3 years ago
4 0

Answer:

$66.55

Explanation:

10% of 50 = 5

55 in one year

10% of 55 = 5.5

60.5 in two years

10% of 60.5 = 6.05

66.55 in three years

Hope this helped

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Personal finance chapter 5. A Cerificate of desposit will often result in a penalty for withdrawing funds beofre the maturityy d
Varvara68 [4.7K]

Answer:

The penalty will be $133.333 for the early withdrawal.

Explanation:

On a $20,000 earning 4% annually, the amount of interest earned per year is:  

$ 20 , 000  x 4%  =  $ 800

On a monthly basis, the CD earns:

$ 800  / 12  =  $ 66.667

If the penalty involves a two (2) months worth of interest, then, the penalty for the early withdrawal will be:

2  x  $ 66.667  =  $ 133.333

8 0
3 years ago
Handy Home sells windows and doors in the ratio of 8:2 (windows:doors).
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Answer:

A. selling price per composite unit,

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3 years ago
Suppose a tax of $3 is imposed on each new garden hose that is sold, resulting in a deadweight loss of $22,500. The supply curve
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Answer: Equilibrium quantity of garden hoses after the tax is imposed is 85000.

Explanation:

Given that,

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Equilibrium quantity after tax, Q_{a} = ?

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4 0
3 years ago
"In 2020, a customer buys a 3 3/4% U.S. Government bond maturing in 2029 at 104-16. The customer elects to amortize the bond pre
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Answer:

carrying value after 2 years = $967.64

Explanation:

the journal entry to record the purchase of  the bond:

Dr Investment in bonds 1,000

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Assuming a straight line amortization, the yearly amortization = $41.60 / 9 years = $4.62 per year

carrying value at moment of purchase = $958.40

carrying value after 1 year = $963.02

carrying value after 2 years = $967.64

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