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OLga [1]
2 years ago
12

Today, you deposit $2,500 in a bank account that pays 3.6 percent simple interest. How much interest will you earn over the next

5 years
Business
1 answer:
navik [9.2K]2 years ago
8 0

Answer:

$450

Explanation:

3.6% of $2,500=$90

90x5=450

Hope this helps!

Brainliest pls

Have a great day!

You might be interested in
A company purchases a machine for $12,000. The estimated residual value is $4,000. The machine has a useful life of 5 years, and
tatuchka [14]

Answer:

$2,400

Explanation:

The computation of the depreciation expense under the activity-based depreciation method is shown below:

= (Original cost - residual value) ÷ (estimated production units)

= ($12,000 - $4,000) ÷ (20,000 units)

= ($8,000) ÷ (20,000 units)

= $0.4 per unit

Now for the first year, it would be

= Production units in first year × depreciation per unit

= 6,000 units × $0.4

= $2,400

8 0
3 years ago
To remodel a restaurant, Two Brothers Pizza signs a 250-day note with proceeds of $63,159.72 and a maturity value of $68,000. Fi
ser-zykov [4K]

The annual percentage rate is 11.19%.

Annual percentage rate is the yearly interest generated on the loan granted to borrowers or paid to investors.

.

  • The formulae for APR is (Maturity Value / Net Proceed - 1) * (365 / Period of Note).,

<u>Given data</u>

Net Proceed = $63,159.72

Maturity Value = $68,000

Period of Note = 250 days

APR = ($68,000 / $63,159.72 - 1) * (365 / 250)

APR = 0.076636 * 1.46

APR = 0.1119

APR = 11.19%

Therefore, the annual percentage rate is 11.19%.

See similar solution here

<em>brainly.com/question/19636374</em>

8 0
2 years ago
You just received an offer in the mail to transfer your $5,000 balance from your current credit card, which charges an annual ra
NARA [144]

Answer:

number of payment is 3.05 payment

so correct option is b 3.05 payments

Explanation:

balance = $5000

annual rate r1 = 18.7 % = \frac{0.187}{12} = 0.01558

credit card charging r2 = 5.9% = \frac{0.059}{12} = 0.004917

payments P = $250  month

to find out

How many fewer payments will you have to make to pay off this debt if you transfer the balance to the new card

solution

we first find time t both rate by total balance formula that is

balance =  P * \frac{1-(1+r)^{-t}}{r}    ...........................1

here P is payment and t is time and r is rate

put here all value and find t for r1

balance =  P * \frac{1-(1+r)^{-t}}{r}  

5000 =  250 * \frac{1-(1+0.01558)^{-t}}{0.01558}

take log both side

log 0.6884 = log 1 - log(1+0.01558)^{t}    

t = 24.1519        .................2

and now put here all value and find t for r2

balance =  P * \frac{1-(1+r)^{-t}}{r}  

5000 =  250 * \frac{1-(1+0.00492)^{-t}}{0.00492}

take log both side

log 0.9016 = log 1 - log(1+0.00492)^{t}  

t = 21.1055         .....................3

so by equation 2 and 3

so no of payment will be 24.1519 - 21.1055

so number of payment is 3.05 payment

so correct option is b 3.05 payments

7 0
3 years ago
Organization ________ refers to the formal arrangement of roles, responsibilities, and relationships within an organization.
Valentin [98]

Answer:

A) structure

Explanation:

The organization structure is the structure where the arrangement of the rule, roles, responsibilities, relationships in a formal way could be done in an organziations.

It tells the way to accomplish the goals and the objectives of the company

Therefore according to the given situation, the option A is correct

hence, the same is to be considered

8 0
2 years ago
As opposed to a payments system based on barter, a payments system based on money Select one: a. requires a double coincidence o
9966 [12]

Answer:

c. makes trades less costly.

Explanation:

Payments system are means through which goods and services rendered are been paid for.

Payments system can also be defined as systems or mechanism that have been put in place in order to be able to effectively settle or pay back financial transactions for services rendered.

Example of Payment systems include:

a) Payments system based on barter: This is one of the old methods of payments for goods and services rendered by a particular party. This method involves an exchange or transfer of goods and services for another goods and services that matches the value of the goods and services been paid for. It is important to note that money is not used in a trade by barter system.

b) Payments system based on money: After currency was invented by countries of the world, payment systems evolved and money was used to settle any form of transactional activities. Payment system based on money is a means whereby goods and services been rendered by a particulars body is paid for using currency also know as money.

One of the major advantages of using payments system based on money over the payment system based on trade by barter is because payment system based on money, makes trading amongst people less costly.

3 0
3 years ago
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