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
BaLLatris [955]
2 years ago
13

Beatrice invests $1,410 in an account that pays 3 percent simple interest. How much more could she have earned over a 4-year per

iod if the interest had compounded annually
Business
1 answer:
mixas84 [53]2 years ago
4 0

Answer:

$7.77

Explanation:

The answer would be the difference between compound and simple interest

Simple interest = principal x time x interest

$1,410 x 0.03 x 4 = $169.20

Compound interest = future value - present value

future value = Principal ( 1 + interest)^n

$1,410 ( 1.03)^4 = $1586.96

$1586.96 -$1,410 = $176.97

Difference = $176.97 - $169.20 = $7.77

You might be interested in
Nona Curry started her own consulting firm, Curry Consulting Inc., on May 1, 2017. The following transactions occurred during th
Yuliya22 [10]

Answer:

Curry Consulting Inc.

Showing the effects of transactions on the accounting equation:

Assets = Liabilities + Equity

May 1:

Assets (Cash + $15,000) = Liabilities + Equity (Common Stock + $15,000)

May 2:

Assets (Cash - $600) = Liabilities + Equity (Retained Earnings - $600)

May 3:

Assets (Supplies +$500) = Liabilities (Accounts Payable +$500) + Equity

May 5:

Assets (Cash - $150) = Liabilities + Equity (Retained Earnings - $150)

May 9:

Assets (Cash + $1,400) = Liabilities + Equity (Retained Earnings + $1,400)

May 12:

Assets (Cash - $200) = Liabilities + Equity (Retained Earnings - $200)

May 15:

Assets (Accounts Receivable +$4,200) = Liabilities + Equity (Retained Earnings +$4,200)

May 17:

Assets (Cash - $2,500) = Liabilities + Equity (Retained Earnings - $2,500)

May 20:

Assets (Cash -$500) = Liabilities (Accounts Payable -$500) + Equity

May 23:

Assets (Cash +$1,200 Accounts Receivable -$1,200) = Liabilities + Equity

May 26:

Assets (Cash +$5,000) = Liabilities (Notes Payable +$5,000) + Equity

May 29:

Assets (Cash -$200 Equipment +$2,000) = Liabilities (Accounts Payable +$1,800) + Equity

May 30:

Assets (Cash - $180) = Liabilities + Equity (Retained Earnings - $180)

Explanation:

The accounting equation shows that Assets = Liabilities + Equity.  This equation is the basis of the double-system of accounting. It is always in balance when each transaction is correctly posted.  The implication is that every business transaction affects, in two ways, either the assets side or the liabilities and equity side or both.

4 0
3 years ago
Steve Smith will receive $82,870 on 5 years from now, from a trust fund established by his father. Assuming the appropriate inte
sweet-ann [11.9K]

Answer:

$50,875

Explanation:

The computation of the present value is shown below:

Given that

NPER = 5 × 2 = 10

RATE = 10% ÷ 2 = 5%

PMt = $0

FV = $82,870

The formula is shown below:

= -PV(RATE;NPER;PMT;FV;TYPE)

After applying the above formula, the present value is $50,875

Hence, the present value is $50,875

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0
3 years ago
Develop a realistic example in which you expect positive covariance​
AURORKA [14]

Answer:

Composure and time management

Explanation:

these are realistic goals that people can reach and will have a positive outcome (do you mind following)

3 0
3 years ago
An airline company must plan its fleet capacity and its long-term schedule of aircraft usage. For one flight segment, the averag
tresset_1 [31]

Answer:

112 customers per day

Explanation:

For computing the needed capacity requirement, first we have to find out the new utilization rate which is shown below:

Capacity cushion = 100% - average utilization rate

25% = 100% - average utilization rate  

So, the average utilization rate is 75%

Now the needed capacity requirement is

Utilization rate = Average output rate ÷ Maximum capacity × 100

75% = 84 ÷  Maximum capacity × 100

So, the maximum capacity is 112 customers per day

We simply applied the above formula to determine the needed capacity requirement

8 0
3 years ago
How do I persuade people to buy my chocolates?
andreev551 [17]
BE A NICE AND AMAZING GUY :D
8 0
3 years ago
Other questions:
  • Cognitively selecting sorting and organizing sensory information is called
    7·2 answers
  • Stagnant Iron and Steel currently pays a $9.55 annual cash dividend (D0). They plan to maintain the dividend at this level for t
    12·1 answer
  • In times of falling prices, choosing LIFO over FIFO as an inventory cost method would affect the financial statements as follows
    13·1 answer
  • Which of the following payments types require you to pay upfront
    11·1 answer
  • Suppose Paul has chosen a combination of two goods, A and B, such that the marginal utility per dollar spent for good A (MU A/P
    11·1 answer
  • The ISO 9000 perspective on quality is that quality is basically defined by: Select one: a. senior management b. customers c. pr
    12·1 answer
  • Which kind of stock is most affected by changes in risk aversion? (In other words, which stocks see the biggest change in their
    5·1 answer
  • Al's Bakery has a checkbook balance of $1,650. A $700 deposit was made today and will be added to the available balance tomorrow
    10·1 answer
  • Which method would interest groups most likely use to help shape public policy? enacting regulations to enforce their goals hiri
    9·1 answer
  • Firestone allows companies like Sears and Discount Tire to distribute and discount its tires. This action significantly increase
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!