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Citrus2011 [14]
3 years ago
12

Katie invested a total of ​$4000​, part at 2​% simple interest and part at 3​% simple interest. At the end of 1​ year, the inves

tments had earned ​$95 interest. How much was invested at each​ rate?
Business
1 answer:
alexandr402 [8]3 years ago
5 0

Answer:

$2,500; $1,500

Explanation:

Given that,

Total amount invested = $4,000

Let the amount invested at 2% be x,

and the amount invested at 3% be (4,000 - x)

Interest earned = $95

Time period = 1 year

Simple interest = Principle × Interest rate × Time period

$95 = (x × 0.02 × 1) + [(4,000 - x) × 0.03 × 1)

$95 = 0.02x + 120 - 0.03x

$95 = -0.01x + 120

0.01x = 120 - 95

0.01x = 25

x = 2,500

Therefore,

Amount invested at 2% = x = $2,500

Amount invested at 3% = (4,000 - x)

                                       = 4,000 - 2,500

                                       = $1,500

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Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?
german

Answer:

  • <em>She should research the cost of living of different locations to compare against the offered salaries.  </em>
  • <em>She should research the benefits included in each offer. </em>
  • <em>She should research the average salary of similar positions to see if the offers are fair. </em>

Explanation:

  • Remember, the cost living at the different locations is good basis to determine how much the actual value of he salary will be worth. For instance if location A pays her $5000 a month and her living expenses from the location takes about $4500, while location B pays her $3500 a month with a living expense of $1000, then she rather goes for location B she has more extra income.

  • Secondly, the benefits included in salaries is also to be considered. Does it includes medical insurance, transport allowance etc.?

  • Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

8 0
3 years ago
Read 2 more answers
At the Penalty APR rate of 28.99% and a balance of about $1800, approximately how much interest would you owe in one month?
Gnom [1K]

Answer:

you owe $43.47 in one month

Explanation:

Daily Interest (for one month) = Balance × APR rate × [number of month / Total month in a year]

Daily Interest = $1800 × 28.99% × 1/12

                      = $1800 × 0.2899 × 0.0833

                      = $43.47

5 0
3 years ago
A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they ha
never [62]

Answer:

Debit: Shrinkage expense $300

Credit: Inventory $300

Explanation:

When your business experiences shrinkage, you must adjust your accounting books. Record inventory losses by increasing your Shrinkage Expense account and decreasing your Inventory account.

Debit your Shrinkage Expense account and credit your Inventory account.

To adjust for shrinkage, create a journal entry that looks like this:

Debit Shrinkage expense account by $300

Credit Inventory account $300

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3 years ago
Stanley, Inc.'s 2018 income statement reported net sales of $6,000,000, uncollectible accounts expense of $160,000, and net inco
Daniel [21]

Answer:

d.   Account receivable days = 72 days

Explanation:

The average receivable days. This is the average length of time it takes a business to collect the amount due from its customers in respect of  credit sales.

When a business sells on credit , customers are expected to settle their account within a given credit period. Account receivable days is computed to evaluate how well a business is managing its investment in the account  receivables.

The shorter the better, as it means that custmers are paying on time, thereby preserving cash position for the business and reducing the risk bad debt.

A prolonged account receivable days means a poor credit control system  which comes with the attendants risk bad debt and additional financing costs for the business.

To compute the account receivable days (debtors collection period), use this formula:

Account receivable days= (Average account receivable/Credit sales) × 360 days.

So we apply this to the question:

Account receivable days= ( 1,200,000/6,000,000) × 360 days

                               = 72 days

5 0
3 years ago
Dwayne has renters insurance that he must pay twice a year. If each payment is $84, how much money should he set aside each mont
lozanna [386]

since he has to pay it 2 times a year, it should be divided by 6. so 84/6=14

Answer: C. $14

4 0
3 years ago
Read 2 more answers
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