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
Akimi4 [234]
3 years ago
7

Bruce borrowed $1,000 for his trip. If bruce waits for five years to begin paying back his loan, how much will he owe?.

Business
1 answer:
adoni [48]3 years ago
3 0

Answer:

$1,610.51

Explanation:

The complete question is

Bruce takes out a personal loan of $1,000 to go on a trip to Florida. His loan has an annual compound interest rate of 10%. The loan compounds once each year.  When you calculate Bruce's debt, be sure to use the formula for annual compound interest.

Bruce borrowed $1,000 for his trip.

If Bruce waits for five years to begin paying back his loan, how much will he owe?

we know that    

The compound interest formula is equal to  

 

where  

A is the Final amount owed  

P is the amount of money borrowed  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

 

substitute in the formula above  

 

 

 

You might be interested in
Lena works as an order-taker at fast burger, a fast-food restaurant. she does not cook food, or even package the final order, bu
gregori [183]

The fast burger is not an example of mechanistic organization, therefore, it is false. It is because a mechanistic organization should provide rules and tasks that are provided to each employee and the authority should be centralized—in the given scenario, the mechanistic organization is not seen above.

7 0
3 years ago
Read 2 more answers
In 1985, you received a
Ilya [14]
After getting a B.S in computer programming in 1985, and then missing some time in between jobs, you will need to make a new resume. Since you already have worked several jobs, and two with major companies, you will want to list those on the top of the resume. The most appropriate strategy for dealing with your resume and the irregular work history will not be very complicated. You will want to include all of the dates of employment and any recognition/awards you may have received with those jobs. Next, you will want to explain in the application letter that you were not in the workforce because of your childcare responsibilities. You may also want to include that the children are now in school, and you can focus on your career. 
8 0
4 years ago
The top managers of an organization typically use a variety of financial indicators to assess the performance of their organizat
AnnyKZ [126]

Answer:

Four significant types of financial measures are :-  

1. Profitability or re-turn on investment :- rate of profitability is utilized by the top administrator to know the increase or profit for the speculation comparative with the measure of cash contributed. This is likewise utilized by the supervisor to know the gross productivity, net benefit, return on resources, rate of profitability, gaining per share, speculation turnover and deals per representative.  

2. Liquidity ratio :- liquidity proportion is utilized by the top chief to realize the organization's capacity to pay its present commitment. organization's liquidity proportion incorporates current proportion, speedy proportion, money to add up to resource, deal to receivable, Days' receivables proportion, Cost of deals to payable, and money turnover.  

3. Leverage ratio:- Leverage ratio is utilized by the chief to know the solvency of the organization. Influence incorporates Debt to value proportion, Debt proportion, Fixed to worth proportion, and Interest inclusion.  

4. Efficiency ratio - productivity proportion is utilized by the top supervisor to gauge the organization's capacity to utilize its assets and oversee liabilities successfully for the time being. It incorporates Annual stock turnover, Inventory holding period, Inventory to resources proportion Inventory/Total Assets, Accounts receivable turnover Net (credit) Sales/Average Accounts Receivable and Collection period 365/Accounts Receivable Turnover

4 0
3 years ago
A master budget​ ________. A. is the initial plan of what the company intends to accomplish in the period and evolves from both
yaroslaw [1]

Answer:

The correct answer is option D) A Master Budget is is a substitute for the management functions of planning and coordination.

Explanation:

A master budget is not the initial budget a company makes, It is the final budget that incorporates all other specific budgets such as financial budget, operational budget, production budget, marketing budget and ore.

It serves a central  planning tool that a management team uses to direct the activities of a company, set targets and execution strategy.

It also provides a framework to judge performance for respective departments.

4 0
3 years ago
Read 2 more answers
"if both supply and demand decrease" simultaneously, the new equilibrium price is ___________ and the new equilibrium quantity i
lisabon 2012 [21]
The new equilibrium price is higher and the new equilibrium quantity is higher
4 0
3 years ago
Other questions:
  • Innovation is best rewarded with ____ incentives
    8·1 answer
  • Hobby Farms, Inc., owns rural property that it leases to various tenants,including Ira. Ira’s transfer of his entire interest in
    8·1 answer
  • Which questions about risk should someone ask before making a big purchase? Check all that apply.
    9·2 answers
  • Which of the following best describes the unit price of an 8-ounce bag of walnuts? It is the number of ounces that can be bought
    9·2 answers
  • Although people across generations tend to have different experiences and develop different tastes, they tend to share important
    6·1 answer
  • If carolyn smith purchases office supplies for her home office from which she operates her insurance business, she is a member o
    13·1 answer
  • When Dalemend Inc. started manufacturing gaming consoles, it had difficulties with performance growth. Over time, the consoles b
    13·1 answer
  • Christopher works as a news anchor for a television network. In addition to his regular pay, at the end of each year, his compan
    5·1 answer
  • Bagley Corporation expects to incur $900,000 of factory overhead and $600,000 of general and administrative costs next year. Dir
    7·1 answer
  • Suppose that a certain country has an MPC of 0.8 and a real GDP of $400 billion. If its investment spending decreases by $5 bill
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!