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

Question

1 Approved Answer

Axis Inc. invested $20,000 and $30,0000 respectively on two investments that yielded a combined rate of return of 10% compounded for five years. If the

image text in transcribed
Axis Inc. invested $20,000 and $30,0000 respectively on two investments that yielded a combined rate of return of 10% compounded for five years. If the rate return on the first investment was 12%, what is the return the company obtained on the second investment. A. 3.33% B. 8.00% C. 8.59% D. 10.00%

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

Auditing Assurance Services And Forensics A Comprehensive Approach

Auditing Assurance Services And Forensics A Comprehensive Approach

Authors: Felix I. Lessambo

1st Edition

3319905201, 9783319905204

More Books

Students also viewed these Accounting questions

Question

★★★★★
Assume that an activity has a normal time of 20 weeks, a normal cost of $72,000, a crash time of 16 weeks, and a crash cost of $100,000. By how many weeks, at most, can this activitys duration be...

Answered: 1 week ago

Question

★★★★★
What is the value today of receiving $2,571.00 per year forever? Assume the first payment is made 6.00 years from today and the discount rate is 5.00%. Submit Answer format: Currency: Round to: 2...

Answered: 1 week ago

Question

★★★★★
9. Of the five methods of relaxation discussed in this chapter, which one do you like the best? Explain why.

Answered: 1 week ago

Question

★★★★★
Southwick Company uses normal costing in its job- costing system. Partially completed T- accounts and additional information for Southwick for 2012 are as follows: Required Additional information...

Answered: 1 week ago

Question

★★★★★
*Problem 12-4 (Part Level Submission) On July 31, 2017, Crane Company paid $2,950,000 to acquire all of the common stock of Conchita I which became a division of Crane. Conchita reported the...

Answered: 1 week ago

Question

★★★★★
QUESTION 1. A bookkeeper has debited an asset account for $6900 and credited a liability account for $3700. Which of the following would be an incorrect way to complete the recording of this...

Answered: 1 week ago

Question

★★★★★
The IS Strategy Triangle links business strategy with organizational and information strategy suggesting that all three points must be in balance to have an efficient organization. As a manager, you...

Answered: 1 week ago

Question

★★★★★
As you saw in the videos (and perhaps in the code that you wrote for this activity), there are many different ways to work with files. You can put a file in a for-loop and read one line at a time. Or...

Answered: 1 week ago

Question

★★★★★
A company using the varying workforce strategy to meet exact demand is preparing an aggregate production plan for the next four (4) months. The number of the workforce currently employed is 20...

Answered: 1 week ago

Question

★★★★★
Case 1: Evaluate and define "Dr. Lorna Breen Health Care Provider Protection Act" Is there a Biblical foundation for this law? Describe. Provide at least 2 examples of this law enacted. Provide 3...

Answered: 1 week ago

Question

★★★★★
Most retail environments have done away with any backroom, and currently most follow Wal-Marts innovation of 50 years ago to increase the size of the store by getting rid of the "backroom" thus,...

Answered: 1 week ago

Question

★★★★★
b. Where did they come from?

Answered: 1 week ago

Question

★★★★★
c. What were the reasons for their move? Did they come voluntarily?

Answered: 1 week ago

Question

★★★★★
5. How do economic situations affect intergroup relations?

Answered: 1 week ago

Previous Question Next Question