1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sammy [17]
3 years ago
5

In the interest formulas, a simple interest can be used in any of the single payment formulas as long as the 'n values correspon

d to the interest period?
A) True
B) False
Business
1 answer:
Yuri [45]3 years ago
3 0

Answer:

False

Explanation:

Apart from simple interest, compound interest can be used for single payments

the formula for compound interest is : future value - present value

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

The formula for simple interest : amount x time x interest rate

Assume that 1000 is to be received in 2 years at the interest rate of 10%

Simple interest = 1000 x 2 x 0.1 = 200

Compound interest

1000 x (1.1)^2 = 1210

1210 = 1000 = 210

You might be interested in
In January 2016​, currency held by individuals and businesses and​ traveler's checks was ​$1,347 ​billion; checkable deposits ow
Zielflug [23.3K]

Answer:

M_1 = $3111

M_2 = $12409

Explanation:

    Given data:

Amount of currency held  =  $1347 billion

checkable deposit $1347 billion

saving deposit $8189 billion

small time deposit $400 billion

market fund $709 billion

Saving deposit in the form M2 and M1

M_1 =  currency held as individual and traveller check +  checkable deposit

       = $1347 + $1764

M_1 = $3111

M_2 = M_1 +  saving deposit _ time deposit + maket funds

       = $3111 + $8189 + $400 + $709

M_2 = $12409

3 0
2 years ago
Eve's apples opened its business on january 1, 2018, and paid for two insurance policies effective that date. The liability poli
Effectus [21]

Answer:

Balance in Prepaid insurance as of December 31 is $18,750

Explanation:

<em>       </em>Computation of Prepaid Insurance

Insurance 1    ($34,200 * 6/18)       $11,400

Insurance 2   ($14,700 * 12/24)      <u>$7,350 </u>

Total Prepaid Insurance               <u>$18,750</u>

8 0
3 years ago
The cost allocation base​ ________. A. is a systematic way to link an indirect cost or group of indirect costs to cost objects B
ycow [4]

Answer:

The correct answer is letter "A": is a systematic way to link an indirect cost or group of indirect costs to cost objects.

Explanation:

Cost allocation is the method of assigning costs to cost objects. Cost objects are items or activities that are preferable to have their own costs allocated such as a product or a department within a firm. Cost allocation is a measure of profitability at the moment of evaluating a subsidiary. It is mainly used for financial reporting purposes.

6 0
3 years ago
Wei lives in Beijing where most consumers value thriftiness and perseverance, and relationships are gradually established with t
aleksley [76]

Answer:

d. long-term orientation

Explanation:

Based on the information provided within the question it can be said that this is an example of a culture high in long-term orientation . This term refers to placing all resources and focus on the long term future of something in order to make sure it lasts for as long as possible and provides great benefits far off in the future. Which is what the consumers in Beijing seem to value the most.

8 0
3 years ago
The name for computations that allow you to determine how much money to deposit now to earn a desired amount in the future is
nydimaria [60]

Answer:

Future value

Explanation:

The name for computation that allows you to determine how much money to deposit now to earn a desired amount in the future is "Future value." Future value is the equivalent of an asset at a particular date. It estimates specific nominal future sum of cash that an invested sum of money is "worth" at a stipulated period in the future considering a specific interest rate, or more commonly, rate of interest; it is the immediate price multiplied by the aggregation function.

5 0
3 years ago
Other questions:
  • What is the problem associated with service quality standards such as "be nice" or "do what the customers want"?
    7·1 answer
  • Charm Co. owns a delivery truck with an original cost of $10,000 and accumulated depreciation of $7,000. Charm acquired a new tr
    5·1 answer
  • What are the advantages a market economy offers producers?
    15·2 answers
  • A company builds a new plant and finances its construction by issuing stock. Which ratio is least likely to be affected, all els
    10·1 answer
  • A customer's account appears as follows:
    15·1 answer
  • Your bond portfolio consists of $30 million worth of Treasury STRIPS with 7 years to maturity, and $10 million of Treasury notes
    7·1 answer
  • If you had $1,000 to invest into the following funds, which one would have the highest value (not including any fees) at the end
    10·2 answers
  • An asset with a net book value of $1,225 was discarded, having no market value. How much will be recorded as a loss or gain on d
    12·1 answer
  • Cullen Company has $235,000 in credit sales, and $164,200 in its Accounts Receivable at the end of the year. The company uses th
    13·1 answer
  • Who became the first female ceo of a fortune 500 company?.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!