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TiliK225 [7]
2 years ago
13

Bethany needs to borrow $8,000. She can borrow money at 6.9% simple interest for 3 yr or she can borrow at 6.5% with interest co

mpounded continuously for 3 yr. Which option results in less total interest
Business
1 answer:
Evgesh-ka [11]2 years ago
4 0

The loan options which would result in less total interest is borrowing money at 6.9% simple interest.

<u>Given the following data:</u>

  • Principal, P = $8,000.
  • Interest rate, R = 6.9%
  • Time, T = 3 years
  • Interest rate 2 = 6.5%

To determine which of the loan options would result in less total interest:

<u>For </u><u>simple interest</u><u>:</u>

Mathematically, simple interest is given by the formula:

S.I = \frac{PRT}{100}\\\\S.I = \frac{8000 \times 6.9 \times 3}{100}\\\\S.I = 80 \times 6.9 \times 3

S.I = $1,656.

<u>For </u><u>compound interest</u><u>:</u>

Mathematically, an interest that is compounded continuously given by the formula:

A = Pe^{rt}\\\\A = 8000 \times e^{0.065 \times 3}\\\\A = 8000 \times e^{0.195}\\\\A = 8000 \times 1.2153

A = $9,722.49

Interest = A -P\\\\Interest = 9722.49-8000

Interest = $1,722.49

Read more on simple interest here: brainly.com/question/16992474

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hoa [83]

Answer:

The predicted value of Revenue is $98.24.

Explanation:

The data provided is for the weekly gross revenue, the amount of television advertising and the amount of newspaper advertising.

Determine the regression equation developed to estimate the amount of weekly gross revenue based on television advertising using Excel.

Consider the Excel image for Summary Output for Weekly Revenue Vs. T.V. Adv.

The estimated regression equation with the amount of television advertising as the independent variable is:

<em>Revenue </em>= 89.31 + 1.27 <em>TVAdv</em>

Consider the Excel image for Summary Output for Weekly Revenue Vs. T.V. Adv. & News Adv.

The estimated regression equation with both television advertising and newspaper advertising as the independent variables is:

<em>Revenue </em>= 83.78 + 1.78 <em>TVAdv</em> + 1.47 <em>NewsAdv </em>

For TVAdv = $4.9 and NewsAdv = $3.9 predict the value of Revenue as follows:

\text{Revenue} = 83.78 + 1.78\ \text{TVAdv} + 1.47\ \text{NewsAdv}

             =83.78 + (1.78 \times 4.9) + (1.47 \times 3.9)\\\\=98.235\\\\\approx 98.24

Thus, the predicted value of Revenue is $98.24.

5 0
3 years ago
If the government of Balancia runs a deficit of $50 million per year in Year 1 and in Year 2 due to its recession, but then has
natima [27]

Answer:

Cyclically balanced budget

Explanation:

6 0
2 years ago
Gross Inc. signs a five-year licensing agreement with Maiger Company. Gross Inc. will pay Maiger annual installment payments of
olganol [36]

Answer:

$4,500

Explanation:

First, calculate the total Installment

Total Installment payment = Annual Installment x Numbers of annual

Where

Annual Installment = $10,500 per year

Numbers of annual = 5 years

Installment payment = $10,500 per year x 5 years

Installment payment = $52,500

Now use the following formula to calculate the Interest payent

Interest payment = Installment Payment - Fair value of contract

Where

Installment Payment = $52,500

Fair value of contract = $48,000

Placing values in the formula

Interest payment = $52,500 - $48,000

Interest payment = $4,500

7 0
3 years ago
Your phone service provider offers a plan that is classified as a mixed cost. The cost per month is $50 flat rate for the first
fomenos

Answer:

$120

Explanation:

The computation of the cost is shown below:

= Cost per month flat for 1,000 units + extra cost if exceeded 1,000 minutes

where,

Cost per month flat for 1,000 units = $50

And, the extra cost is

= $0.35 × 200 minutes

= $70

So, the total cost is

= $50 + $70

= $120

The 200 minutes is come from

= 1,200 minutes - 1,000 minutes

4 0
3 years ago
In 2020, Metlock Corporation had net cash provided by operating activities of $569,000, net cash used by investing activities of
Mashcka [7]

Answer:

See below

Explanation:

The cash balance as at the end of December 31 2020 is the net cash provided by operating activities, less net cash used by investing activities plus net cash provided by financing activities plus the beginning cash balance as at January 1, 2020

Net cash provided by operating activities = $569,000

Net cash used by investing activities = $988,000

Net cash provided by financing activities = $595,000

Beginning cash balance = $331,000

Closing cash balance = $569,000 - $988,000 + $595,000 + $331,000

Closing cash balance = $507,000

3 0
2 years ago
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