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3 years ago

In 2014, the city of Miketown collected $150,000 in taxes and spent $350,000. In 2014, the city of Miketown had a

Business

1 answer:

Damm [24]3 years ago

8 0

Answer:

Budget deficit of $100,000

Explanation:

Calculation to determine how much the city of Miketown had

Budget deficit=Amount collected in taxes - Amount spent

Let plug in the formula

Budget deficit=$250,000-$350,000

Budget deficit =$100,000

Therefore in 2014 the city of Miketown had a BUDGET DEFICIT of $100,000

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kifflom [539]

Answer:

a leasehold

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3 years ago

What are the elements of a compensation package

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4 years ago

The discounting function (or mechanism) of markets is based upon the assumption that the stock market essentially discounts all

tensa zangetsu [6.8K]

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3 years ago

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bixtya [17]

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3 years ago

Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $1,800 in the bank and leave it there: (Do not ro

klasskru [66]

Answer:

A. $54

B. 55.62

C. $70.46

Explanation:

The formula for calculating compound interest is

FV = P (1 + r ) ^n

FV = Future value

P = Present value

R = interest rate

N = number of years

A. $1,800 (1.03) = $1854

Interest rate = $1854 -$1,800 = $54

B. $1,800 (1.03)^2 = $1,909.62

Interest rate = $1,909.62 - $1854 = $55.62

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To service the interest rate, we have to determine the future value in year 9

$1,800 (1.03)^9 = $2,348.59

Interest rate = $2,419.05 - $2,348.59 = $70.46

I hope my answer helps you

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3 years ago