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katrin2010 [14]
3 years ago
14

The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.)

Business
2 answers:
Agata [3.3K]3 years ago
7 0

Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment (PV)= $7,500

Interest rate= 0.06/360= 0.00017 daily

Number of periods= 90 days

<u>To calculate the interest earned, we need to use the following formula:</u>

I= [PV*(1+i)^n] - PV

I= [7,500*(1.00017^90)] - 7,500

I= $115.62

ICE Princess25 [194]3 years ago
6 0

Answer:

$112.50

Explanation:

Amount X Rate X Time =

(Principal of the note x Annual Interest Rate x Time expressed in fraction of year (360 days using the "banker's rule") = Interest)

$7,500 x 0.06 = 450

450 x 90 / 360 = $112.50

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Amazon Prime, briefly mentioned in the case, is a subscription service that gives members free two-day shipping on hundreds of t
Leto [7]

Cheaper pricing, more attractive loyalty programmes, more convenient delivery options and better product range.

Explanation:

A website asked participants how much their average spending online is invested. Results suggest Amazon Prime subscribers buy more money overall; U.S. Prime affirms doing 53 percent of their online shopping, while Non-Prime members invest 50 percent in the United Kingdom.

As internet customers in general, they spoke to Prime members about Amazon being too strong, with 61% of British members and 69% of American Prime members claiming that they are worried with Amazon's increasing and stifling competition. Amazon is a big player.

The main reasons they asked for Amazon were: lower prices, more loyalty rewards, more flexible shipping choices and better product selection.

Prime Members quoted the main reasons they should choose another store over Amazon. In the United States 26% and in the United Kingdom 18% have reported that they enjoy interactions in-store.

4 0
3 years ago
Prahm Corp. wants to raise $4.4 million via a rights offering. The company currently has 500,000 shares of common stock outstand
Pavel [41]

Answer:

price for selling 3000 share right is $25060.87

Explanation:

Given data:

Total Amount raised=   $4,400,000  

Spreading rate = 6%

Subscription price =   $20 per share

Number of share owned by company = 500,000

Per share cost  = $45

Totals share own in the company = 3000

subscription price after deducting spreading rate = 20\times (1 -0.06) = $18.80

Now, Right share = \frac{4400000}{18.8} = 234,043

Right price is calculated as

Right price = ((Number of share held * market price) + (Right share *Right price))/( Number of share held + Right share)

plugging all value in above relation

                 = \frac{500000 \times 45 + 234043\times 18.8}{500000 + 234043}

Right share = $36.65

single right value = 45- 36.65 = $8.35

Price for 3000 share right = 8.35 *3000 = $25060.86

6 0
3 years ago
As a business customer, every time you buy a product or service, you are creating a record of that transaction. Group of answer
aleksandrvk [35]

Answer:

True

Explanation:

A buisness customer records every transaction to see how the transaction was

6 0
3 years ago
A card from a 52 card deck is lost. We then draw 2 cards from the 51 remaining cards. What is the probability they are both diam
Nonamiya [84]

Answer:

\frac{1}{17}

Explanation:

Let D be the event that the lost card is a diamond

and D' be the event that the lost card is a non diamond

Therefore,

P(D) = \frac{13}{52} = 0.25

P(D') = \frac{39}{52} = 0.75

Now,

Event that the cards picked up are both diamonds = A

Thus,

P( A | D) = \frac{12}{51 }\times\frac{11}{50}               [ As One Diamond Card is lost ]

And,

P(A | D') = \frac{13}{51}\times\frac{12}{50}                [ As One Non-Diamond card is lost ]

Therefore,

P(A) = P(D) × P(A | D) + P(D') × P( A | D')  

= 0.25 × \frac{12}{51 }\times\frac{11}{50}  + 0.75 ×  \frac{13}{51}\times\frac{12}{50}

= \frac{1}{17}

3 0
3 years ago
Find the accumulated value of $2,480 at the end of twelve years if the nominal interest rate was 2% convertible monthly for the
dusya [7]
In order to properly tackle this problem, we must understand the relationship between the nominal annual rate and real (effective) annual rate. 

To do this:
  -First you take the nominal rate, divide by the number of times it's compounded (converted) per year.
   -Then, add one to that number, and raise that number to the power of how many times you compound per year.

Here is the method in practice:
First 3 Years: 
Nominal rate= 2% ÷ 12 times/yr = 0.001667
Effective rate = 1.001667 ^12 = 1.020184

Next 2 Years (Discounting)
3% ÷ 2/yr = .015
1.015 ^ 2 = 1.061364

Next 4 years (Interest)
.042 ÷ .5 (once every 2 years) = .084
1.084 ^ (1/2) = 1.041153

The last 3 years are already expressed as an effective rate, so we don't need to convert them. The annual rate is:
1.058

I kept the 1 in the numbers (1.058 instead of 5.8% for example) so that it's easier to find the final number

Take every relevant number and raise it to the power of the number of years it's compounded for. For discounting, raise it to a negative power.
First 3 years: 1.020184 ^ 3 = 1.061784
Next 2 years: 1.030225 ^ -2 = .942184
Next 4 years: 1.041163 ^ 4 = 1.175056
Last 3 years: 1.058 ^ -3 = .84439

Multiply these numbers (include all decimals when you do this calculation)
1.062 * .942 * 1.175 * .844 = .992598

This is our final multiplier to find the effect on our principal:
.992598 * 2,480 = 2461.64

Answer is 2461.64
6 0
4 years ago
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