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
pychu [463]
3 years ago
5

What interest is paid for three months on $960 at 2 74% annual interest paid quarterly?​

Business
1 answer:
3241004551 [841]3 years ago
6 0

Answer:

$6.64

Explanation:

The applicable formula

A = p x ( 1+ r)^ n

A =amount after 3 months

p=principal amount: $960

r = interest rate : 2.74% per year or 2.74/12 per month =0.23% or 0.0023

n = 3 month

A = $960 x ( 1+ 0.0023) ^3

A =$960 x (1.0023)^3

A =$960 x 1.00691

A=$966.64

compound interest Earned

=$966.64 - $960

=$6.64

You might be interested in
How do companies research potential new markets? Choose a global company who has a record of successful new market entry and exp
Contact [7]

Explanation:

Companies search for potential new markets by collecting consumer data to understand their opinions, wants and needs, and then being able to enter a new market with a safe and effective strategy to generate profits and successes. Data collection occurs in the form of primary and secondary research. The primary research takes place directly with the consumer, it can be carried out in the form of focus groups, which is a direct analysis of the market demand researched by the consumer.

As for secondary research, information is received through third parties, such as online sites, trade associations, etc., which give an idea of ​​market behavior.

IKEA in China is an example of a global company that entered a different market in the form of strategic adaptation to meet the needs of the Chinese, through ideas and concepts aimed at this public.

8 0
3 years ago
5) "Once a business develops a solid information system to meet its needs, that system will serve the business for at least 25 y
uysha [10]

Answer:

This is not correct, as the information systems in this age are rapidly transforming, due to artificial intelligence and IoT.

8 0
3 years ago
Crossfade Corp. has a bond with a par value of $2,000 that sells for $1,902.14. The bond has a coupon rate of 6.48 percent and m
Virty [35]

Answer:

yield to maturity = 7.06%

Explanation:

yield to maturity (YTM) is calculated using the following formula:

YTM = {C + [(FV - PV) / n]} / [(FV + PV) / 2]

  • FV = $2,000
  • PV = $1,902.14
  • C = $2,000 x 6.48% x 1/2 = $64.80
  • n = 12 x 2 = 24

YTM = {64.80 + [(2,000 - 1,902.14) / 24]} / [(2,000 + 1,902.14) / 2] = (64.80 + 4.0775) / 1,951.07 = 0.0353 or 3.53% semianually or 7.06% annually

Since the bond sells at a discount, its yield to maturity will be higher than the coupon rate.

8 0
3 years ago
Distinguish between the costs of having a basic checking account and an interest-bearing checking account
boyakko [2]

Answer:

Checking account is what you can use, and ibca is account that has interest rate.

Explanation:

3 0
3 years ago
Which of the following statements is true of entrepreneurs?
Sindrei [870]

The answer is <u>"B. Entrepreneurs often work long hours and must take on the financial responsibilities of the business."</u>


An entrepreneur is a person who, as opposed to functioning as a worker, establishes and maintains a private company, expecting every one of the dangers and prizes of the endeavor. The business visionary is generally observed as a pioneer, a wellspring of new thoughts, merchandise, administrations and business/or techniques.  

Entrepreneurs assume a key role in any economy. These are the general population who have the right stuff and activity important to foresee present and future needs and put up great new thoughts for sale to the public.  


8 0
4 years ago
Read 2 more answers
Other questions:
  • Lobbyists are hired by companies to influence legislation to meet a company's goals. They ask for things needed to program plans
    11·2 answers
  • Fixed assets. <br><br> A a building is one example. <br><br> B spreading costs over time
    6·2 answers
  • In one statistics course, students reported studying an average of 9.92 hours a week, with a standard deviation of 4.54. jessica
    9·1 answer
  • Delos, Inc. reports the following information for​ April: Sigma Gamma Units sold 2 comma 000 units 800 units Sales price per uni
    9·1 answer
  • Brookman Inc.’s latest EPS was $2.75, its book value per share was $22.75, it had 315,000 shares outstanding, and its debt/total
    13·1 answer
  • You have just used the network planning model for a county road resurfacing project and found the critical path length is 40 day
    14·2 answers
  • A bond that pays interest annually yielded 7.25 percent last year. The inflation rate for the same period was 5.50 percent. What
    12·1 answer
  • plies manufacturing overhead at the rate of $40 per machine hour. Budgeted machine hours for the current period were anticipated
    8·1 answer
  • Which of the following would constitute a technological improvement?
    11·1 answer
  • On 1 January 2010 The Happy Haddock Angling Club had the following assets:
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!