If choices are the following,
a. A heuristics
b. An algorithm
c. A mental set
d. Insight
then the choice (a) should be the correct answer. Heuristics is something that someone has already mastered for a long time that even one glance or sight he/she can determine what is the problem and be able to offer a solution. The above question is an example of familiarity heuristics.
Answer:
80%
Explanation:
The computation of markup percentage on product cost is shown below:-
Markup percentage on product cost = ((Selling and administrative expenses + Desired profit) ÷ Product cost) × 100
= (($70 + $58) ÷ $160) × 100
= 0.8
or
= 80%
Therefore for computing the markup percentage on product cost we simply applied the above formula.
Answer:
$3979.79
2 $4023.63
Explanation:
Here is the full question used in answering this question :
Find the interest earned on $15,000 invested for 6 years at 4% interest compounded as follows. a. Annually b. Semiannually (twice a year) c. Quarterly d. Monthly e. Continuously
the formula for determining interest earned is :
future value - present value
The formula for calculating future value:
FV = P (1 + r/m)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
1. 15,000 ( 1 + 0.04)^6 = 18979.79
18979.79 - 15,000 = $3979.79
2 1. 15,000 ( 1 + 0.04/2)^12 = 19023.63 = $4023.63
The consideration given to the bank for providing loan facility, in return of such facility an amount is paid which is over and above the principle amount of loan, this amount can be said as interest.
Interest are of two types i.e. (a) Simple interest (b) compound interest
<h3>simple interest</h3>
The amount of interest which is calculated at a fixed predetermined rate every year on the principle amount and paid until the loan is settled in full.
Given in the Question
Principle is $20,000
Rate is 3%
Time is 1 year
<h3>Calculation</h3>
The simple interest is calculated by multiplying principle with the rate and than the outcome is multiplied with time to find simple interest.
Therefore the amount of interest received by Michael at the end of first year on an amount of $20,000 at a interest rate of 3%will be $600.
Learn more about simple interest here:
brainly.com/question/9895511
