Sue will pay back $507.20 in interest expense.
Explanation:
The formula for calculating simple interest is:
SI = P x r x t ÷ 100
- P = Principal
- r = Rate of Interest
- t = Term of the loan/deposit in years
In the given problem,
- Sue Gastineau borrowed $17,000 from Regions Bank so, P = $17000
- Sue Gastineau borrowed $17,000 from Regions Bank at a rate of 5.5%, so r = 5.5 %
- Number of days of the loan = March 5 to September 19
- Sue borrowed $17,000 from Regions Bank for the period of = 198 days, So t = 198 / 365
Simple Interest = (17000 * (5.5/100) * (198/365))
Simple Interest = (17000 * (0.055) * (0.5424657534246575))
Simple Interest = (17000 * (0.055) * (0.5424657534246575))
Simple Interest = $507.20
Answer:Flour should be acquired through a contract.
Explanation: Acquiring flour through a contact will be very important for DonutVille as it will ensure a follow-up and a feedback system where the manager of DonutVille establish a relationship with the company supplying the flour through one of its distributors or agents.
When purchasing of flour is achieved through a contact, it makes the contact a responsible person who will be needed to guarantee the supply of flour on time and to Communicate with the manager of DonutVille should there be any matters arising in the process getting supplies.
Your total medical expenses, including premiums, must surpass 7.5 percent of your adjusted gross income to be deductible.
In this case, take his AGI and multiply by 7.5%. subtract that amount from the total medical expenses and you will have the amount that is deductible from his taxes.
Answer:
The answer is yes, it will function as a medium of exchange.
Explanation:
Money has three functions, store of value, unit of account and medium of exchange. Money that can be used as a medium of exchange is money that is accepted as such by both buyers and sellers, and that is comfortable, or convenient enough, to be carried and exchanged
In this example, the nation of Newbie will issue a currency that can be easily transported. While heavy stock cardboard is a little bit heavier than the paper in which most modern-day currencies are printed, the weight is still light, and does not impede easy transportation and exchange of the currency bills.
Besides, the new Newbie Nugget will be what is know was the legal tender of the nation. The legal tender is the currency that a specific country accepts to collect taxes. This gives more legitimacy to Newbie Nugget and makes it a classical example of a medium of exchange.
It is given that Joseph purchased 100 shares of ABCD Growth Fund for a price of $10.00 per share with a total investment of $1,000. At the end of the year he sold his investment for $11.20 per share. Find the total capital gain.
To get the capital gain, compute the total price in which Joseph sold his investment.
$11.20 x 100 = $1,120
Subtract the answer to the total price bought by Joseph
$1,120 - $1,000 = $120
The total capital gain is $120
