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
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%

You might be interested in
Me. Gareth owns a toy-manufacturing company. Which of these items in his company is an intermediate good?
kakasveta [241]
Well it is a toy manfacturing company and the intermediate good would be a toy plane
5 0
3 years ago
Read 2 more answers
All of the following are organization-directed benefits associated with offering unconditional guarantees except: a. the guarant
kotykmax [81]

Answer:

All of the following are organization-directed benefits associated with offering unconditional guarantees except:

a. the guarantee provides a means to avoid bankruptcy.

Explanation:

Providing or offering customers unconditional guarantees does not help the company to avoid bankruptcy.  Bankruptcy arises from inadequate financing resulting from overtrading.  Importantly, offering guarantees to customers communicates a clear performance goal to employees to improve service delivery to customers.

3 0
3 years ago
Which of the following is not a typical adjustment made to the income statement for projection purposes?
ankoles [38]

Answer:

The correct answer is b. Adjusting revenues to only include organic revenue growth.  

Explanation:

One of the quantitative planning techniques is the projection of financial statements or also called pro forma statements.

The applications that can be had among others are the following:

Know how the year will end for tax purposes in terms of income and deductions in order to make decisions before the end of the year.

Another application will be to know the external financing needs for the period you want to know.

The most common and practical method of projecting financial statements is based on sales.

7 0
3 years ago
A promise or order is only considered negotiable if ________. it states that the promise or order is subject to or governed by a
julia-pushkina [17]

For a promise or order to be considered negotiable, it must of a necessity be an unconditional order for payment. Unlike deals where satisfaction with the goods being purchased is prerequisite for payment, for a negotiable promise or order, payment cannot depend upon any condition or contract. 

5 0
3 years ago
When the unemployment rate is at a steady state: Group of answer choices the number of people finding jobs exceeds the number of
liraira [26]

Answer:

The number of people finding jobs equals the number of people losing jobs.

Explanation:

Unemployment rate can be defined as the percentage of unemployed workers that are present in the the labor force. The Labor force of a country comprises of both employed and unemployed individuals that are present in the country. Unemployment rate can also be described as the percentage of the total workforce of a country that is yet to be gainfully employed.

High unemployment rate poses an adverse effect on the economy, it leads to an increase in crime rate this is due to the fact that unemployed individuals have no source of income to take care of their respective families and as such have to turn to the life of crime inorder to earn money.

7 0
3 years ago
Other questions:
  • Your project requires new software. The IT department is going to research options to identify the best solution to work with yo
    6·1 answer
  • An accounting professor at Middleton University devotes 60 percent of her time to teaching, 30 percent of her time to research a
    7·1 answer
  • A customer tells you that they “must have” a particular item that you are out of in your store. You can tell that the customer i
    5·1 answer
  • In order to provide more security, many companies have begun relying on _____ methods, such as fingerprint scanners, to prevent
    15·1 answer
  • The aggregate-demand curve:
    11·1 answer
  • a firm in a perfectly competitive industry is producing 1000 units of output and earning revenues of 50000. At that level of out
    6·1 answer
  • Net working capital:
    8·1 answer
  • What is CUSTOMER VALUE? How it can be created? Discuss.
    13·1 answer
  • Suppose that when the price of gasoline is $3.50 per gallon, the total amount of gasoline purchased in the United States is 6 mi
    9·1 answer
  • The clerical and editorial employees in a publishing house need to be at their desks by 8:00 AM and follow a set of precise proc
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!