.oo T-Mobile LTE 8:52 PM Exam 1 EGN 3613/EIN 3351 #1 IMPORTANT! Show all your wo
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.oo T-Mobile LTE 8:52 PM Exam 1 EGN 3613/EIN 3351 #1 IMPORTANT! Show all your work where appropriate. No credit can be given if you don't show your logic/calculations. Exam 2 of 3 2 Points Mutually Exclusive means? aNo firm answer can be found from a set Only one firm answer can be found from o Neither of the above a set of feasible alternatives 5 Points $20,000.00 borrowed today for 2 years at 5% Compound Interest will result in how much total interest at the end of Year 2? $2000.00 b) S2050.00 c) S20,000.00 d) S22,000.00 a 1Point each List 5 methods of Funding an Enterprise (project)? 3 Points Describe what Accrued means? Previous Next Courses Calendar Todo Notifications MessagesExplanation / Answer
Compounded interest rate formula,
A = P * (1+r)^n
Where A is the amount accumulated
P is the principal amount = $ 20,000
r is the interest rate = 5% per annum = 0.05
n is the number of years = 2 years
now A = $ 20,000* (1+0.05)^2 = $ 22,050
total interest = A – P = $ 22,050 – $ 20,000 = $ 2,050
Correct answer is option b) $ 2,050
Five method of funding an enterprises –
Meaning of Accrued: The accrued meaning growth or increase, something that grows or accumulates over time. For example Interest earned but not received (realized) like bonds generally pay interest every six months, therefore interest accrues between one interest payment and the next. In that case buyer of a bond pays its market value plus the interest earned up to the settlement date.
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