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
Suppose that some investors have decided that economic and financial uncertainty have made the prospect of investing in domestic
babymother [125]

Answer:

The investors are exemplifying the economic idea that  Some People are rational

Explanation:

People tend to be rational when making decision that results in an optimal level of benefit.

6 0
4 years ago
Steve Queen and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to Stevens of $117,150.
Dmitriy789 [7]

Answer:

Queen $32,850

Stevens $180,150

Explanation:

                                             Queen        Stevens           Net Income

                                                                                      available (distributed)

Net Income                                                                          $213,000

Interest on Capital (6%)       $4,500         $6,300              <u>($10,800)</u>

                                                                                             $202,200

Salary Allowance                                      $117,150             <u>($117,150)</u>

                                                                                              $85,050

Remaining $85,050            $28,350        $56,700           ($65,050)

(in ratio 1:2)

Total Net Income                $32,850         $180,150              ($0)

distributed

5 0
3 years ago
Because "present value" refers to the value of cash flows that occur at different points in time, a series of present values of
Alecsey [184]

Answer: False

Explanation:

Present value is not the value of cash flows that occur at different points in time but rather the value of cash flows at the current point in time. The values can therefore be added up to determine the value of a capital budgeting project because they relate to the same time period.

This is the basic premise that the Net Present Value capital budgeting method works on. It discounts the various cash inflows to the present period, adds them up and then subtracts the cost of the project. If it is positive then the project is off good value.

4 0
3 years ago
Why do people take things so seriously on here omg
bulgar [2K]

Answer:

because people are trying to be nice in these difficult times

6 0
4 years ago
due to changes in production, hanson steel gave each employee 75 percent of the cost savings. hanson steel uses a ________ compe
mihalych1998 [28]

Due to changes in production, Hanson steel gave each employee 75 percent of the cost savings. Hanson steel uses a <u>gainsharing </u>compensation plan.

A compensation plan refers to the practices, methods, and intentional approach that's used by an organization in maintaining financial interests and developing, retaining, attracting, and rewarding employees in an industry.

It should be noted that the gainsharing compensation plan refers to a compensation plan that is used to increase profitability as employees share in the company's gain. Since the workers share 75% of the cost savings, this is a gain-sharing compensation plan.

Read related link on:

brainly.com/question/25356534

8 0
3 years ago
Other questions:
  • On December 28, 20X3, Stern Corporation and Ram Company established S&amp;R Partnership, with cash contributions of $14,000 and
    8·1 answer
  • You deposit $10,000 in a bank and plan to keep it there for five years. The bank pays 8% annual interest compounded annually. Ca
    11·1 answer
  • Lee johnson sold golf shoes for $89.99 a pair. the shoes cost the store $26.28 a pair. what was the markup rate based on cost to
    12·1 answer
  • While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulatio
    12·1 answer
  • "Inventories of _____ can provide vast amounts of information concerning attitudes toward product categories, brands within prod
    14·1 answer
  • At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the months of September, October, No
    14·1 answer
  • Suppose the price of a bag of frozen chicken nuggets decreases from $6.50 to $5.75 and, as a result, the quantity of bags demand
    14·1 answer
  • In theory, what conditions must exist to have pure competition among businesses in the same
    6·2 answers
  • Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transacti
    7·1 answer
  • Using simplified percentage complete amounts for a one-year project with weekly reporting and an average task or work packet siz
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!