Answer:
$6,530.15
Explanation:
Calculation:
First, converting R percent to r a decimal
r = R/100
= 7.1%/100 = 0.071 per year.
Putting time into years for simplicity,
9 months / 12 months/year = 0.75 years.
Solving our equation:
A = 6200(1 + (0.071 × 0.75)) = 6530.15
A = $6,530.15
The total amount accrued, principal plus interest, from simple interest on a principal of $6,200.00 at a rate of 7.1% per year for 0.75 years (9 months) is $6,530.15.
Answer:
30 days after receiving notice of the changes
Explanation:
If the insurer offers to renew the policy on different terms, how long does the policyholder have to cancel the policy without being penalized?
An insurer is defined as- a person or company that underwrites an insurance risk; the party in an insurance contract agrees to pay compensation. Generally, the term insurer is synonymous with the term insurance provider or insurance company.
A policyholder is a person who buys an insurance policy. The policyholder is protected by the details in the insurance policy. He or she can add more persons to the policy depending on the type.
In most cases, a policyholder is allowed to cancel the policy within 30 days without been penalized for a short rate cancellation fee.
A research source or a research literature could specify to any material wherein it can be used to gather and locate information from a given subject or topic. In addition, the information gathered from these sources must be properly cited and paraphrased so as to avoid plagiarism.
Answer: 9.45%
Explanation:
From the question, we are informed that the assets for BIZZ0 in 2018 were $187,300, the liabilities for that year were $275,600; and the net income was $17,700.
The return on income for the year will be:
= ( Net Income / Total Assets ) × 100
= ($17,700 / $187,300) × 100
= 0.0945
= 9.45%
