FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Red Winowski invested money for five years because he was guaranteed that he would earn 12% ordinary simple interest (360-day year) per year. At the

Red Winowski invested money for five years because he was guaranteed that he would earn 12% ordinary simple interest (360-day year) per year. At the end of five years, he received all of his original investment plus an additional $1,500 as the interest that he had earned. How much money had Red invested five years earlier?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

We can calculate the principal amount Red invested us... 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_2

Step: 3

blur-text-image_3

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

Personal Finance
Personal Finance

Authors: Thomas Garman, Raymond Forgue

12th edition

9781305176409, 1133595839, 1305176405, 978-1133595830

More Books

Students explore these related Accounting questions

Question

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Answered: 3 weeks ago

Question

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

Answered: 3 weeks ago

Question

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 3 weeks ago

Question

Suppose that the government of Malud increases both its own spending and autonomous taxes by $300 and the economys multiplier equals 2.5. If consumers spend 95% of their disposable (after-tax)...

Answered: 3 weeks ago

Question

Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.

Answered: 3 weeks ago

Question

=+c. Journalize the adjusting entry on December 31 to recognize the depletion expense.

Answered: 3 weeks ago

Question

Did the authors address group similarities and differences?

Answered: 3 weeks ago

Question

JOURNAL ENTRIES Jean Akins opened a consulting business. Journalize the following transactions that occurred during the month of January of the current year using the modified cash basis and a...

Answered: 3 weeks ago

Question

Menlo Company distributes a single product. The company's sales and expenses for last month follow Per Unit S 20 14 $306,000 Sales Variable expenses 214,200 91,800 75,000 $ 16,800 s 6 Contribution...

Answered: 3 weeks ago

Question

Red's Furniture Manufacturing produces a line of tables and chairs from specialty hardwoods. It makes three different styles of chairs, and each chair takes about the same amount of direct labour...

Answered: 3 weeks ago

Question

Fundamental analysts can earn abnormal returns if a market is semi-strong form efficient. semi-weak form efficient. weak form efficient. strong form efficient

Answered: 3 weeks ago

Question

2. Not all is lost with Tesla's production issues. Tesla has left a door (and a few windows) open for competitors to take part of the market. Which manufacturers stand to gain the most? Why?

Answered: 3 weeks ago

Question

Determine a mainline airline's fare structure. Discussion can include mock data on the fare structure that you outline for business vs pleasure travel, passenger demand patterns, Seasonal operations,...

Answered: 3 weeks ago

Question

Since the 2016 presidential election, there have been multiple changes to the Patient Protection and Affordable Care Act (ACA). What are they and how have they impacted healthcare access, cost, and...

Answered: 3 weeks ago

Question

3) For this question - you will be given a specific Country by your Professor. Explain how the brand might choose to focus more on certain CSR components based on the Country to maximize business...

Answered: 3 weeks ago

Question

Which examples demonstrate correct abbreviations used in titles, organizations, locations, time, and measurement? Instruction: Choose all options that best answer the question. Answer Choices I saw...

Answered: 3 weeks ago

Question

please i need answers for these questions 20-Under the due care theory, the consumer who is injured by a defective product that had been produced carelessly cannot hold the manufacturer liable. *...

Answered: 3 weeks ago

Question

Given the table below, about how much force does the rocket engine exert on the 4.0 kg payload? Distance traveled with rocket engine firing (m) Payload final velocity (m/s) 500 320 490 310 1020 450...

Answered: 3 weeks ago

Question

Now that you have read the Chapter on managing checking and savings accounts, what would you recommend to Nathan Rosenberg and Allysa Adams in the case at the beginning of the chapter regarding: 1....

Answered: 3 weeks ago

Question

(a) Calculate the price-to-rent ratio on the property. (b) Calculate the present value of after-tax cash flow for the property, assuming that the after-tax cash-flow numbers are $8000 for the first...

Answered: 3 weeks ago

Question

1. Distinguish between the dying-too-soon problem and the living-too-long problem and the best ways to address each. 2. List five types of needs that can be addressed through life insurance. 3....

Answered: 3 weeks ago

Question

9. What would be the effect on eating of a drug that blocks NPY receptors? One that blocks CCK receptors?

Answered: 3 weeks ago

Question

10. In what ways does the lateral hypothalamus facilitate feeding?

Answered: 3 weeks ago

Question

4. What is the evidence that stomach distension, though sufficient, is not necessary for satiety?

Answered: 3 weeks ago

Previous Question Next Question