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2 years ago

Calculate the amount of interest on a $1,400 deposit at 4% interest for 5

Business

1 answer:

Aneli [31]2 years ago

5 0

Answer:

$280

Step-by-step explanation:

As per given question we have provided that :

$\purple\star$ Principal = 1400
$\purple\star$ Rate = 4%
$\purple\star$ Time = 5 years

Here's the required formula to find the Simple Interest :

${\longrightarrow{\pmb{\sf{S.I= \dfrac{PRT}{100}}}}}$

$\purple\star$ S.I = Simple Interest
$\purple\star$ P = Principal
$\purple\star$ R = Rate
$\purple\star$ T = Time

Substituting all the given values in the formula to find the Simple Interest :

$\begin{gathered}\qquad{\implies{\sf{S.I= \dfrac{PRT}{100}}}}\\\\\qquad{\implies{\sf{S.I= \dfrac{P \times R \times T}{100}}}}\\\\\qquad{\implies{\sf{S.I= \dfrac{1400 \times 4\times 5}{100}}}}\\\\\qquad{\implies{\sf{S.I= \dfrac{5600 \times 5}{100}}}}\\\\ \qquad{\implies{\sf{S.I= \dfrac{56 \: \cancel{00}\times 5}{1 \: \cancel{00}}}}}\\\\\qquad{\implies{\sf{S.I= 56 \times 5}}} \\\\\qquad{\implies{\sf{S.I= \$280}}}\\\\\qquad\star\underline{\boxed{\sf{\pink{S.I= \$280}}}}\end{gathered}$

Hence, the simple interest is $280.

$\rule{300}{2.5}$

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The following information is available for Ivanhoe Company. April 1 April 30 Raw materials inventory $10,500$14,000 Work in proc

Fiesta28 [93]

Answer and Explanation:

The preparation of the cost of goods manufactured schedule for the month of April is presented below

Beginning work-in-process inventory $4,840

Manufacturing costs:

Direct materials:

Beginning inventory $10,500

Purchases $97,700

Materials available $108,200

Less: Ending inventory -$14,000

Direct materials used $94,200

Direct labor $80,300

Manufacturing overhead $162,000

Total manufacturing costs: $336,500

Total costs of work-in-process $341,340

($4,840 + $341,340)

Less: Ending work-in-process -$3,700

Cost of goods manufactured $337,640

Basically we simply the cost of goods manufactured formula

3 0

3 years ago

What are the six stages of the product adoption process

IrinaK [193]

Answer:

the six stages of the product adoption process are :

1. Awareness.

2. Interest.

3. Evaluation.

4. Adoption

5. Confirmation

6. trial

6 0

3 years ago

Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $7.50 per share. If the required

Ad libitum [116K]

Answer:

The answer is $115.38

Explanation:

Solution

Given that

The annual dividend on preferred stock = $7.50

Required return on preferred stock+= 6.5%

The next step is to find at what price should the preferred stock sell which is given as follows:

The rice of preferred stock = 7.50/6.5%

= $115.38

$115.38 is the price at which the stock preferred was sold.

4 0

3 years ago

Define CAMELS, why it was created and how the system works, and give the names of six factors of CAMELS

bearhunter [10]

Capital adequacy
Asset quality
Management
Earnings
Liquidity
Sensitivity

CAMELS is an international rating system to rate banks, it was created in the United States as a supervisory rating system.

In order to ensure their financial strength, banks have periodic examinations by a Office of the Comptroller of the Currency. Bank examiners issue CAMELS, a numerical rating to the bank as a result of the examination, examiners score each bank in the six factors listed above. Banks score between 1 and 5 in each category (1 being the highest).

Hope this helps, HAVE A BLESSED AND WONDERFUL DAY! As well as a great Valentines Day! :-)

- Cutiepatutie ☺❀❤

5 0

3 years ago

A small foundry agrees to pay $220,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to

MaRussiya [10]

Answer:

A) $24,602

Explanation:

We can solve this question by finding the periodic deposits needed by using the formula:

$FV=PMT*\frac{(1+i)^n-1}{i}$