On July 17, 2017, Leah deposited $1500 into a savings account that earned simple interest of 1.05%.
Question:
On July 17, 2017, Leah deposited $1500 into a savings account that earned simple interest of 1.05%. How much interest was earned and paid into Leah's account on December 1, 2017?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
The interest is normally paid annually and interest is calculated by mu...View the full answer
Answered By
HILLARY KIYAYI
I am a multi-skilled, reliable & talented Market analysis & Research Writer with a proven ability to produce Scholarly Papers, Reports, Research and Article Writing and much more. My ultimate quality is my English writing/verbal skill. That skill has proven to be the most valuable asset for project writing, Academic & Research writing, Proofreading, HR Management Writing, business, sales, and a variety of other opportunities.
4.80+
24+ Reviews
60+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
Question Posted:
Students also viewed these Accounting questions
-
What amount must be deposited into a savings account that pays 8% interest if the inflation rate is 10% and you want to set aside enough money to purchase a red tape cutting machine 10 years after...
-
Suppose that you deposit $1,000 into a savings account that pays 8 percent. a. If the bank compounds interest annually, how much will you have in your account in four years? b. What would your...
-
Yin li deposited $800 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $952.75 in five years?
-
1. Prepare a list showing all tasks and their durations. 2. Analyze the fact situation carefully to determine which tasks are concurrent and which ones are dependent on other tasks. 3. Using PERT/CPM...
-
The energy consumption associated with a home water heater has two components: (i) the energy that must be supplied to bring the temperature of groundwater to the heater storage temperature, as it is...
-
If a government decides to make health insurance affordable by requiring all health insurance companies to cut their prices by 30%, what will probably happen to the number of people covered by health...
-
What safeguards must be taken by the auditor in obtaining and using a bank cutoff statement?
-
Bond A pays $8,000 in 20 years. Bond B pays $8,000 in 40 years. (To keep things simple, assume these are zero-coupon bonds, which means the $8,000 is the only payment the bond holder receives.) a. If...
-
Red Earth Pty Ltd is asmall company with gross assets of around $25 million and a turnover of under $50 million per year. The CEO and majority shareholders point out the importance of audited...
-
Write Application of plasma physics?
-
Ethan's grandmother deposited $5000 for him in a savings account on his fifteenth birthday on March 30, 2017. How much interest would he have earned in the account by his eighteenth birthday assuming...
-
Kenneth borrowed $8100 to buy a car. If interest was charged on the loan at 7.7%, how much interest would he have to pay in 90 days?
-
Last month, Banner Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. Complete the following table. Direct materials information...
-
In 2019, Maggy (34 years old) is an employee of YBU Corp. YBU provides a 401(k) plan for all its employees. According to the terms of the plan, YBU contributes 50 cents for every dollar the employee...
-
Which capital budget technique always yields the correct result and why?
-
Matthew (48 at year-end) develops cutting-edge technology for SV Inc., located in Silicon Valley. In 2019, Matthew participates in SVs money purchase pension plan (a defined contribution plan) and in...
-
On their weekly visits to a local restaurant, Bram and Mila usually buy one slice of appeltaart (Dutch apple pie) to share and two cups of coffee each. However, the restaurant offers a special...
-
John (age 51 and single) has earned income of $3,000. He has $30,000 of unearned (capital gain) income. a. If he does not participate in an employer sponsored plan, what is the maximum deductible IRA...
-
A survey shows that the average insurance cost to a company per employee per hour is $1.84 for managers and $1.99 for professional specialty workers. Suppose these figures were obtained from 35...
-
a) Calculate the goodwill that was paid by Major Ltd on the acquisition of Minor Ltd. [10 marks] b) Prepare the consolidated statement of financial position for Major Ltd at 31 July 20X8. [30 marks]...
-
After a cash discount of 5%, an invoice was settled by a payment of $646. What was the invoice amount?
-
Sales in May increased 16 2/3% over April sales. If May sales amounted to $24 535, what were April sales?
-
The working capital at the end of the third quarter was 75% higher than at the end of the second quarter. What was the amount of working capital at the end of the second quarter if the working...
-
Struthers Wells Corporation employs more than 150,000 management employees in its sales and manufacturing offices in the United States, Europe and Asia. A sample of 600 of those employees revealed...
-
Discuss (1) your own results below. Are you motivated by achievement, power, or affiliation? Is there anything that surprised you? How do you think your motivations influence the way that you lead or...
-
Think of a position you currently have or had. Using the Expectancy Questionnaire, and the Analysis Form,rate each of the three areas on the dimension. For example, for item one think of the amount...
Study smarter with the SolutionInn App