All categories

3 years ago

Jose opened a Premier account at City National Bank of Iowa with a minimum required deposit of

Business

1 answer:

Andrew [12]3 years ago

4 0

Answer:

$1,025.299

Explanation:

The formula for compound interest is

FV = PV × (1+r)^ n

Where Fv is the future value

Pv is the present value = $1000

r is interest rate = 1/2 % or 0.5% per year

n is five years

interest is compounded quarterly,

Interest per quarter = 0.5% /4 = 0.125% which is 0.00125

n will be 5 years x 4 quarters = 20 periods

Fv= $1000 x (1 +0.00125)^20

Fv =$1000 x(1.00125)^20

Fv= $1000 x 1.025299

Fv = $1,025.299

You might be interested in

Find the sum of 2x kg and 5x g. Give the answer in grammes.

maksim [4K]

Answer: 3,600 g

Explanation:

7 0

2 years ago

A farmer sells $50,000 worth of apples to individuals who take them home to eat, $75,000 worth to a company that uses them all t

IrinaK [193]

Answer:

The answer is: $150,000

Explanation:

The GDP includes all the final, finished and legal products produced in the country during a year.

The apples sold directly by the farmer to individual consumers and the apples the grocery store sells to households are both going to be included in the GDP.

The only apples not included in the GDP are the once sold to the company that produces apple juice, since they are intermediate goods and not finished goods.

6 0

3 years ago

Cost of Merchandise Sold

galben [10]

Answer:

$441,000

Explanation:

The computation of the cost of merchandise sold is shown below:

Cost of merchandise sold = Opening inventory + net purchase - ending inventory

where,

Opening inventory = $14,500

Net purchase is

= $475,000 - $15,000 - $9,000 + $7,000

= $458,000

And, the ending inventory is $31,500

So, the cost of merchandise sold is

= $14,500 + $458,000 - $31,500

= $441,000

4 0

3 years ago

If the marginal benefit of an activity is greater than marginal cost of an activety, then you are better off___

zloy xaker [14]

As long as the marginal benefits are higher than the marginal costs you are better off continuing the activity.

Consider the example of eating pizza. Each slice of pizza gives you happiness and helps fill you up (marginal benefit), but each slice also has lots of calories and fat (marginal cost). As long as you are still hungry and getting enjoyment from eating, you should keep eating. But once you reach the point where you are too full then you should stop, because the costs now outweigh the benefits.

3 0

3 years ago

Susan williams runs a small flagstaff job shop where garments are made. the job shop employs eight workers. each worker is paid

slavikrds [6]

Labour Productivity is basically the worth of goods produced by each labour or collectively in an hour, This can be expressed in the formula below:

Labour Productivity per hour of work= $\frac{Worth of Goods Produced}{Total Number of Labour Hours}$

In order to find worth of goods we shall use below Formula:

Worth of Goods= Sale Price per Unit*Number of Units Sold

In given case there are 2 types of goods sold as below

1. Proper Garments

Worth of Goods Sold= $210*78 Garments

Worth of Goods Sold=$16380

2. Seconds

Worth of Goods Sold= $100*54

Worth of Goods Sold= $5400

Total Goods Sold= $5400+$16380

Total Worth of Goods=$21780

Total Hours Worked= No of Workers*Hours Worked each Worker

Total Hours Worked= 8*45

Total Hours Worked=360 Hours

Labour Productivity= $\\ \frac{21780}{360}$

Labour Productivity=$60.5 per Hour

3 0

3 years ago