A $2875.40 investment grew to $3000 after eight months. What annual rate of simple interest did it

Question:

A $2875.40 investment grew to $3000 after eight months. What annual rate of simple interest did it earn?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:09 AM

See More Questions

The snow tires that you are planning to buy next October 1 at the regular price of $107.50 each are advertised at $89.95 in a spring clearance special that will end on the preceding March 25. What...
A five-month term deposit of $10,000 at the Scotiabank earned $175 in interest. What annual rate of simple interest did the deposit earn?
Joyce had $2149 in her daily interest savings account for the entire month of June. Her account was credited with interest of $2.65 on June 30 (for the exact number of days in June). What annual rate...
When VGS = 0.5 VGS(off) . gm. is -------------- the maximum value. Select one: a. one-fourth b. three-fourths c. equal to d. one-half
Identify the Fund Write the name of the fund(s) in which each of the following transactions or events would be recorded. 1. Bonds, the proceeds of which were to be used for the construction of a new...
Find the mean and median of each of the following sets of data. Determine the deviation from the mean for each data point within the sets and find the mean deviation for each set. Use a spreadsheet...
3. What procedure is used to allocate the investment purchase price at the date of acquisition of a foreign subsidiary?
Global Cell Phones (GCP) has developed a cell phone that can be used anywhere in the world (even countries like Japan that have a relatively unique cell phone system). GCP has been receiving...
People who have previously experienced a moral dilemma in a particular context tend to have stronger moral sensitivity in similar contexts. Select one: O True O False
Friendly College is a small, privately supported liberal arts college. The college uses a fund structure; however, it prepares its financial statements in conformance with ASC 958. Partial balance...
What was the interest rate on a $1750 loan, if the amount required to pay off the loan after five months was $1828.02?
The interest paid at the end of the term of a $9125 loan at 0.8% per month was $511.00. Calculate the term of the loan.
Explain what the convexity of a bond is. When pricing bonds, under what circumstances is convexity a problem?
a) Provide a brief background of the Honda Motor company and industry, then identify a current ethical issue that has an effect on the industry that the Honda Motor company is operating in. 1b)...
If you own, did you consider leasing? If yes, why did you choose a purchase over a lease? If you lease, why did you go with a lease? List the specific advantages you feel you gained by leasing. If...
If 5 people worked in a process for 8 hours, which included a 0.5 hour break, and they produced 900 units. What was the worker hours per unit? from below: 2.7 minutes 24 minutes 2.5 minutes 22.5...
12. Access the following PIDS using the scan tool and verify current input signal status and record the status below? PIDS APP1 APP2 ECT IAT MAF RPM TP1 TP2 VSS Signal Status WSM Specifications
With Twitter being on the verge of bankruptcy and undergoing mass resignation, what are some creative and relative directions managers of the social media platform could take to improve the brand?
The balance sheet and consolidated income statement for Onno Corporation has been provided. What is the common-sized income statement and balance sheet for both years. Why is an accounting statement...
Representative data read from a plot that appeared in the paper Effect of Cattle Treading on Erosion from Hill Pasture: Modeling Concepts and Analysis of Rainfall Simulator Data (Australian Journal...
Fair Value and Equity Methods} Nadal Corporation purchased 10.000 common shares of Beck Inc., on January 1, 2018, for $\$ 100,000$. During 2018, Beck declared and paid cash dividends to Nadal in...
Evaluate each of the following. 12 2 5 + 2 2 0
Express each of the following first as a decimal and then as a percent. Round your answers to two decimal places where rounding is needed. 1 1 / 2
A baseball players slugging percentage is the average number of hits a batter gets in all the at bats they have in their games played. This statistic differs from their batting average in that it is...
THIS IS ONE QUESTION WITH TWO PARTS. PLEASE ANSWER COMPLETELY AND SHOW ALL WORK. (NO EXCEL) Information for Question 1: State Probability Retum on A Return on B Return on C Retum on Portfolio X Boom...
Direct materials (5.0 Ibs. @ $5.00 per Ib.) Direct labor (2.0 hrs. @ $13.00 per hr.) Overhead (2.0 hrs. @ $18.50 per hr.) Total standard cost $25.00 26.00 37.00 $88.00 The predetermined overhead rate...
Problem 1-28 (Algo) (LO 1-4, 1-5, 1-6b 1-7) Harper, Inc., acquires 40 percent of the outstanding voting stock of Kinman Company on January 1, 2020, for $316,100 in cash. The book value of Kinman's...

A $2875.40 investment grew to $3000 after eight months. What annual rate of simple interest did it

Question:

Step by Step Answer:

Interest earned I ...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions