Answer:
$17,400
Explanation:
<em>Equation to be used is as follows: </em>Beginning Prepaid Insurance Expense balance + Cash paid for insurance premium - Ending prepaid insurance balance = Insurance expense
$3,000 + Cash paid - $2,200 = $18,200
$800 + Cash paid = $18,200
Cash paid = $18,200 - $800
Cash paid = $17,400
So, the cash paid for insurance premiums during 2014 was $17,400
I think cause you know yourself better than everyone else and you know what you can and can’t do and everyone should be able to have their own opinions on things :))
Simple interest means that you only need to find the interest once and then keep adding it on every year. In this case, the interest would be 5.5% of $5000 every year, which is 275.
In 6 years, you'll have $1650, which is the amount earned from interest, plus $5000, which is the original investment.
So you'll have $6650 in 6 years.
Answer:
<em>We can invite at most 80 people without going over our budget.</em>
Explanation:
The available budget is $ 2,100.
As a fixed amount we must pay $ 95 for the cleaning service. After making this payment we would be available $ 2,100 - $ 95 = $ 2,005 to cover the food and drink expenses of the guests. Since for each guest they charge us $ 25, we can invite a maximum of 80 guests ($ 2,005 / $ 25 = 80.2). Considering that we will invite 80 people, the total cost of the event will be $ 95 + 80. $ 25 = $ 2,095, that is, we will finally have $ 5 left over.
