Question: Can you help me answer the incorrect one? It is about INTEREST EARNED. Check my answer Question 6 of 7 Ashley invested her savings of

Can you help me answer the incorrect one? It is about INTEREST EARNED.

Check my answer Question 6 of 7 Ashley invested her savings of $500 in a savings account that was earning simple interest at 4.45% p.a. She also invested $3.175 in her friend's business at 0.44% p.m. a. What is the interest rate per month that is equivalent to 4.45% p.a.? 0.38 6 0 Round to two decimal places b. What was the total interest earned from both investments at the end of 4 months? 626 x Round to the nearest cent

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

please help me. I can pay only 70 dollars in this assignment Topic 1 & 2 Introduction to financial management and the Australian Taxation system Financial Markets 2 Learning Objectives Describe what...

please help me in 70 dollars to do this assignment iin APA style referencing Topic 1 & 2 Introduction to financial management and the Australian Taxation system Financial Markets 2 Learning...

Decide a supplier that you will use to make purchases for your one-time purchases identified in your Start Up Exercise, such as computers or equipment needed for your business. List the items and the...

Show your work for every part of this worksheet on your own paper. A. Calculate the amount of money you will need to operate your business for 6 months , include payroll, initial and recurring...

Managerial Accounting - 6th Edition by James Jiambalvo Chapter 14 - Problems 13, 14, and 15 (see attachment) Problem 14-13. Common-Size Financial Statements (p.564) Problem 14-14. Horizontal Analysis...

Choose a supplier that you will use to make purchases for your one-time purchases identified in your Start Up Exercise, such as computers or equipment needed for your business. List the items and the...

Help me please with clear and detailed explantion of the answer. When the current ratio of the company Lowering corporate income taxes. equals 1. Increasing total asset turnover. Ratio analysis can...

Hello! Can you help me to solve these questions, please! I'd appreciated it! Thanks for your help! Question 1:Francis deposited $12,200 into an investment account earning 6% compounded monthly (j12)....

1. Using Porters four determinants of competitive advantage, describe how a business may use the trade theories to develop its business strategies. 2. Why is it important to understand political and...

Koppa Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product line, the controller, Robert Kruegel, has developed the following...

Exercise 7.15 A systolic array is an example of an MISD machine. A systolic array is a pipeline network or wavefront of data processing elements. Each of these elements does not need a program...

Explain how basic individual traits and qualities can influence group dynamics and the effectiveness of work teams in the context of a business organization? Identify the factors that can affect the...

13. Try to imagine how you would feel if you had tackled the problem, the con-flict, the challenge, etc., that made you powerless in task 12, for example upstairs, confident, confident, calm,...

15. Ask yourself the following questions: What do you want to remember from your everyday experiences? These are the experiences that fill most of your life. They may take 9099% of your time. What do...

What reward will you give yourself when you achieve this?