Jack Palomo has deposited $2,500 today in an account paying 6 percent interest annually. What would be the simple interest earned on this investment in five years? If the account pays compound interest, what will be the interest on interest in five years? A) $750; $95.56 B) $150; $845.56 C) $150; $95.56 D) $95.56; $845.56
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Jack Palomo has deposited $2,500 today in an account paying 6 percent interest annually. What would be the simple interest earned on this ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The stock of Mulberry Corporation is owned by Archana (60%) and Anar (40%), who are mother and daughter.
Answers (1)
Suppose your company imports computer motherboards from Singapore. The exchange rate is currently 1.2871 S$/US$. You have just placed an order for 34,000 motherboards at a cost to you of 233.50 Singapore dollars each.
Answers (1)
Farina Manufacturing uses a predetermined overhead application rate of $8 per direct labor hour. A review of the company's accounting records for the year just ended discovered the following: Underapplied manufacturing overhead: $7,200 Actual
Answers (1)
Land, Labor and Entrepreneurship are all of the factors of production. Question 8 options: True False
Answers (1)
Asset C3PO has a depreciable base of $16.5 million and a service life of 10 years. What would the accumulated depreciation be at the end of year five under the sum-of-the-years'-digits method?
Answers (1)
New Questions in Business
In 2020, Quapau Products introduced a new line of hot water heaters that carry a one-year warranty against manufacturer's defects. Based on industry experience, warranty costs were expected to approximate 5% of sales revenue.
Answers (1)
Explain why the Industrial workers of the World (IWW) grew so rapidly and aroused so much opposition.
Answers (1)
The cost of debt capital for a firm. a. is equal to the current yield (not YTM) on the firm's outstanding bonds b. can be calculated by estimating the beta of the firm's equity and then using the SML c.
Answers (1)
Morris' company decided in the beginning of 2017 that they need to make $6,000,000 worth of improvements starting january 1, 2021. the company is planning to pay money into an account with 10% interest compounded annually.
Answers (1)
Western Manufacturing produces a single product. The original budget for April was based on expected production of 14,000 units; actual production for April was 13,300 units.
Answers (1)