FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. If you put $1800 in savings account that pays 4% simple interest every year, what will be the balance in the account after 6

image text in transcribed

2. If you put $1800 in savings account that pays 4% simple interest every year, what will be the balance in the account after 6 years? (Hint: Balance = Principle + interest revenue) Interest revenue = principle * interest rate- a. $2232 O b. $2432 C. $2332 O d. $2532

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cutting Edge Internal Auditing

Cutting Edge Internal Auditing

Authors: Jeffrey Ridley

1st Edition

0470510390, 978-0470510391

More Books

Students also viewed these Accounting questions

Question

★★★★★
Your city is expanding. There have been several problems with street flooding, which is affecting your business. You decided to attend a city council meeting, during which there is a discussion of...

Answered: 1 week ago

Question

★★★★★
7. What are the goals?

Answered: 1 week ago

Question

★★★★★
On July 1, 2018, Nakhooda Limited received an 18-month loan for $40,000 from a bank at 6% and with these funds and another $10,000 cash, purchased a vehicle for $50,000. Prepare the journal entries...

Answered: 1 week ago

Question

★★★★★
2. If you put $1800 in savings account that pays 4% simple interest every year, what will be the balance in the account after 6 years? (Hint: Balance = Principle + interest revenue) Interest revenue...

Answered: 1 week ago

Question

★★★★★
Ayayai Service has over 200 auto-maintenance service outlets nationwide. It provides primarily two lines of service: oil changes and brake repair. Oil change-related services represent 80% of its...

Answered: 1 week ago

Question

★★★★★
A hedger is short spot and long futures. Today, spot is 4.40 and the June future is 5.00. A bit later, spot goes to 5.00 and the June future goes to 5.10. What has happened to basis in this period?...

Answered: 1 week ago

Question

★★★★★
The EICAS CRTs (cathode ray tubes) are: Group of answer choices Identical Directly powered from the battery bus Cooled by AC-powered fans All the above Only b and c

Answered: 1 week ago

Question

★★★★★
A recruiter asks candidates for a customer service rep position, "Why are you interested in this role?" Which response ( s ) would hurt a candidate's chances of advancing to the next round? Select...

Answered: 1 week ago

Question

★★★★★
You are starting to draw up your plans for the program. You realize that employees are going to have a lot of questions about the change. You cannot get all of the questions handled in all - hands...

Answered: 1 week ago

Question

★★★★★
I need these charts filled in using the information given Instructions Analysis Ledger Trial Balance Greenwald and Mass developed a business and plan to begin by offering clinics for basic outdoor...

Answered: 1 week ago

Question

★★★★★
(Appendices) COMPONENTS OF COST OF GOODS SOLD. Annas Corner Store has the following data for a recent year. LO9

Answered: 1 week ago

Question

★★★★★
(Appendices) TERMS OF SHIPMENT AND ENDING INVENTORY. On December 31, Archive Products had two shipments of merchandise in transit from different suppliers. The first shipment, which arrived on...

Answered: 1 week ago

Question

★★★★★
(Appendices) PURCHASES, SALES, AND COST OF GOODS SOLD. The following data were available for Jeans Inc., a seller of denim clothing, at January 1 of a recent year: Jeans Inc. records purchases and...

Answered: 1 week ago

Previous Question Next Question