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AlladinOne [14]
3 years ago
6

Find the effective rate of interest to the nearest hundredth percent if $60.94 is earned in one year on a deposit of

Business
1 answer:
Nata [24]3 years ago
8 0

Answer:

6.25%

Explanation:

The formula for calculating interest rate is as follows

I= P x R x T

Where

I= interest,  P= principal amount, T is time

in this case: I= $60.94, P=$975, T=1 year

Therefore:

$60.94 = $975 x( r/100) x 1

$60.94 =975(r/100) multiply both side by 100 to get rid of the fraction.

6094=975r

r = 6094/ 975

r = 6.2502

interest rate = 6.25%

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Bobby Company has fixed costs of $160,000. The unit selling price, variable cost per unit, and contribution margin per unit for
V125BC [204]

Answer:

1,500 units; 1,000 units

Explanation:

Break Even Point (in units) = Fixed cost ÷ Contribution margin per unit

Fixed cost = $160,000

Sales Mix = 60% of X + 40% of Y

                = 0.6X + 0.4Y

So,

Contribution Margin of the Mix:

= (60% × contribution margin of X) + (40% × contribution margin of Y )

Contribution Margin of the Mix per unit:

= (60% × 80) + (40% × 40)

= 48 + 16

= $64

Break Even Point (in units) = Fixed cost ÷ Contribution margin per unit  

                                            = 160,000 ÷ 64

                                            = 2,500 unit

At the Level of break even :

Unit of X at break-even:

= 60% of 2,500

= 1,500 units

Unit of Y at break-even:

= 40% of 2,500

= 1,000 units

3 0
4 years ago
Calculate gross profit for the following situation: National Storage Company had sales of $1,000,000, sales discounts of $2,500,
Pie

Answer:

$475,500

Explanation:

Sales is $1,000The discountscount is $2500

Sales return and allowances are $15,000

The cost of goods sold is $525,000

Therefore the gross profit can be calculated as follows

= 1,000,000-2,500-15,000-525,000

= 457,500

Hence the gross profit is $475,500

3 0
3 years ago
In a _________________________ economy, the individuals and the government share in the economic decision-making process. These
VladimirAG [237]

Answer:

I believe it's Command Economy

Explanation:

8 0
2 years ago
5) Big Corporation had the following sales over the last 4 years; Year Sales (in 000s) bgs 1 225.00 2 236.25 3 243.125 4 248.00
babymother [125]

Answer:

5%

Explanation:

a) What was the growth rate in sales between years 1 and 2

Growth rate measures the increase in the level of sales over a period of time

Growth rate from year 1 to 2 = (increase in sales from year 1 to 2 / sales in year 1) x 100

increase in sales from year 1 to 2 = 236.25 - 225 = 11.25

(11.25 / 225) x 100 = 5%

6 0
3 years ago
Do chefs typically go to graduate school?
Viktor [21]
No they instead transition into a culinary school

7 0
3 years ago
Read 2 more answers
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