Appendix: Completing an End-of-Period Spreadsheet
Alert Security Services Co. offers security services to business clients.
Alert Security Services Co.
End-of-Period Spreadsheet
For the Year Ended October 31, 2016
Adjusted Trial Balance Income Statement Balance Sheet
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 12 Accounts Receivable 103 Supplies 4 Prepaid Insurance 2 Land 190 Equipment 50 Accum. Depr. - Equipment 7 Accounts Payable 36 Wages Payable 1 Common Stock 50 Retained Earnings 210 Dividends 8 Fees Earned 213 Wages Expense 111 Rent Expense 12 Insurance Expense 10 Utilities Expense 6 Supplies Expense 4 Depreciation Expense 3 Miscellaneous Expense 2 517 517 Complete the following end-of-period spreadsheet for Alert Security Services Co. If an amount box does not require an entry, leave it blank. Enter all amounts as positive numbers.
Alert Security Services Co.
End-of-Period Spreadsheet (Work Sheet)
For the Year Ended October 31, 2016
Account Title Adjusted Trial Balance Debit Adjusted Trial Balance Credit Income Statement Debit Income Statement Credit Balance Sheet Debit Balance Sheet Credit
Cash 12 Accounts Receivable 103 Supplies 4 Prepaid Insurance 2 Land 190 Equipment 50 Accum. Depr.-Equipment 7 Accounts Payable 36 Wages Payable 1 Common Stock 50 Retained Earnings 210 Dividends 8 Fees Earned 213 Wages Expense 111 Rent Expense 12 Insurance Expense 10 Utilities Expense 6 Supplies Expense 4 Depreciation Expense 3 Miscellaneous Expense 2 Totals 517 517 Net income (loss)

Answers

Answer 1

The end-of-period spreadsheet for Alert Security Services Co. shows that the company has a net income of $41.

To complete the end-of-period spreadsheet, the adjustments for prepaid insurance and depreciation expense must be entered, resulting in a total of $517 for both debit and credit columns.

From there, the income statement and balance sheet columns are completed using the adjusted trial balance and the amounts for revenue and expenses, resulting in a net income of $41. This net income is calculated by subtracting the total expenses ($146) from the total revenue ($213).

The net income is then transferred to the balance sheet under the retained earnings column. Finally, the total debits and credits in the end-of-period spreadsheet must be equal to ensure that all accounts have been properly accounted for.

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Related Questions

An annuity owner receives the same guaranteed payment every month. what type of annuity is it?

Answers

It is Fixed annuities.

The three primary annuity kinds are immediate or deferred variable annuities, fixed annuities, and fixed indexed annuities. When you will start receiving payments is indicated by the immediate and postponed classes. Fixed annuities ensure that the purchase money will receive a minimum amount of interest. The amount of income paid does not change from one payment to the next. A fixed annuity is a sort of insurance contract that guarantees the purchaser will receive a certain interest rate on their account contributions. A variable annuity, on the other hand, offers interest payments that may change according to the performance of an investment portfolio that the account owner has chosen.

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essay on trade unions and labor restrictions​

Answers

Answer:

A trade union is an association of workers from certain professions for the purpose of promoting common interests related to their work. The work of trade unions is thus usually about work-related issues such as wages, job security, leisure time, but also about things like education and job titles where applicable. Trade unions negotiate wages and conditions with employers in wage agreements they make on behalf of their unions. Thus, these unions seek to maximize the rights of workers in their work spaces, trying to ensure that employers respect the rights of their employees without restriction of any kind.

There are four types of illegal activity under the Civil Rights Act of 1964. Which choice lists these four? a. disparate employment, unfair promotions, hostile environment, and unfair firing b. false reports, retaliation, prima facie discrimination, sexual harassment c. religious disparaging, racial profiling, sexual harassment, unfair promotions d. disparate treatment, disparate impact, hostile environment, and retaliation

Answers

Option a: disparate employment, unfair promotions, hostile environment, and unfair firing are four types of illegal activity under the Civil Rights Act of 1964.

Discrimination based on race, colour, religion, sex, or national origin is illegal in the United States thanks to the illustrious Civil Rights Act of 1964. Prohibits discrimination in the workplace, unfair application of voter registration laws, and racism in schools and other public places. According to the law, it is one of the most significant legislative achievements in American history.

The law's initial enforcement powers were limited, but were eventually strengthened. In particular, Congress recognizes the enumerated powers to regulate interstate commerce under the Commerce Clause of Article 1, Section 8, the duty to ensure that all citizens receive equal legal protection under the Fourteenth Amendment, and a duty to protect voting rights under the 14th Amendment to the Constitution. 15th Amendment.  

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Question 37 Marks: 1 Plan implementation involves capital improvement programs and financing plans.Choose one answer. a. True b. False

Answers

The correct option is A, true. Plan implementation generally involves the prosecution of various capital improvement programs and backing plans that are necessary in achieving the association's goals and objects.

Capital enhancement programs relate to the enterprise or systems that a company undertakes to enhance or upgrade its physical structure,outfit or technology to improve effectiveness, productivity, and client service. financing plans involve relating and securing available finances or backing sources, similar as loans or bonds, to support the capital enhancement programs and sustain the association's operations.

Effective plan implementation requires careful planning, collaboration, and oversight to insure that the enterprise are aligned with the association's strategic pretensions and objects and yield positive issues.

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What is Credit VS Debit

Answers

Answer: Often people think debits mean additions while credits mean subtractions. This isn’t the case at all. Debits and credits actually refer to the side of the ledger that journal entries are posted to. A debit, sometimes abbreviated as Dr., is an entry that is recorded on the left side of the accounting ledger or T-account. Conversely, a credit or Cr. is an entry on the right side of the ledger.

Explanation:

according to peter drucker, what are managers who do things right addressing?

Answers

According to Peter Drucker, managers who do things right are addressing "Efficiency."Efficiency means doing things right. Managers who are efficient make the best use of available resources to achieve organizational objectives.

It is about doing things in the right manner. The idea behind efficiency is that if all elements are aligned, the organization will be more productive and effective. It means using fewer resources to achieve the same output, providing better services or products to customers, improving organizational performance, and delivering quality work.

Drucker identified divisions where a clear objective is required and placed an emphasis on the objective function. Innovation, productivity, market standing, financial resources, profitability, managerial performance and development, employee performance, and social responsibility are all examples of these characteristics.

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The demand for financial capital increases when _________________ increases

Answers

The demand for financial capital increases when investment opportunities increase.

This is because businesses need financial capital in order to make investments and expand their operations. As more investment opportunities become available, the demand for financial capital also increases. This is a basic principle of economics, as businesses need financial capital in order to grow and take advantage of new opportunities.

In addition, the availability of financial capital can also impact the level of investment opportunities in an economy. If financial capital is scarce, businesses may not be able to access the funds necessary to take advantage of profitable opportunities, which could limit economic growth

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Benson, incorporated manufactures a single product and uses the plantwide overhead rate method. the company's plantwide overhead rate is $25 per machine-hour (mh) used. their single product uses 10,000 mh, has direct material cost per unit of $10.96 and direct labor cost of $3.84 per unit. the total overhead cost is expected to be:

Answers

Benson Inc. employs the plantwide overhead rate technique and produces a single product. A total of $250,000 is anticipated for overhead expenses.

The sum of a company's indirect operating expenses is known as its total overhead costs. These expenses are required for the operation of the business even if they are not directly connected to the creation of a particular item or service. Rent, utilities, insurance, administrative salaries, and office supplies are a few examples of overhead expenses.

Total overhead cost  =  Predetermined overhead cost × Actual machine hours used

= $25 × 10,000      

= $250,000      

The direct materials and direct labor per unit will be used to compute the overall production cost per unit.

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Why miscommunication and misunderstanding happen

Answers

Answer:

misunderstanding happens due to the distance . misunderstanding happen due to lack of time to solve problem . misunderstanding happens due to third person between two persons . misunderstanding happens due to the virtual world .

the u.s market is large but many other countries have what advantage over the us​

Answers

Explanation:

faster growth?? uhm is this a answer chose.

serta carpet how much are total variable costs if 2,200 yards of carpet are produced and sold in april?

Answers

If 2,200 yards of carpet are made and sold in April, the variable costs per unit are $17.00. The correct answer is option A.

To calculate the variable costs per unit, we need to determine the total variable costs and then divide it by the number of units produced and sold.

The variable costs in March were:

   Nylon thread used on carpet: $12,200    Scotch guard for carpet: $16,000    Jute backing to reinforce the carpet: $4,000    Glue used in the manufacturing process: $5,000    Production employee's wages: $7,000

The total variable costs in March are the sum of these costs:

$12,200 + $16,000 + $4,000 + $5,000 + $7,000 = $44,200

To calculate the variable costs per unit, we divide the total variable costs by the number of units produced and sold in March:

$44,200 / 2,600 yards = $17 per yard

Now, if 2,200 yards of carpet are produced and sold in April, we can calculate the variable costs per unit for April:

$17 per yard * 2,200 yards = $37,400

Dividing this total variable cost by the number of units produced and sold in April:

$37,400 / 2,200 yards = $17 per yard

Therefore, the variable costs per unit if 2,200 yards of carpet are produced and sold in April are $17.00 (Option A).

The complete question must be:

Serta Carpet, which manufactures carpet, incurred the following costs for March when 2,600 yards of carpet were produced and sold:$12,200 for nylon thread used on carpet$16,000 for scotch guard for carpet $4,000 for jute backing to reinforce the carpet $5,000 for glue to be used in the manufacturing process $21,000 for insurance (half for administrative activities, half for productionactivities) $7,000 for production employee’s wages $10,000 for rent (60% for the production facility, 40% for the administrativeoffices) How much are variable costs per unit if 2,200 yards of carpet are produced and sold inApril?A.$17.00B.$28.92C.$20.09D.$34.18

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Whether the product was made or service performed to specifications is a question of:
A) conformance quality.
B) performance quality.
C) reliability quality.
D) value indices.

Answers

The question "Whether the product was made or service performed to specifications" is refers to A) Conformance quality.

Conformance quality refers to the extent to which a product or service meets specified requirements or standards. It is a measure of how well a product or service is made or done to the required specifications. In other words, conformance quality assesses whether a product or service meets customer expectations in terms of features, functionality and performance. Performance quality, reliability quality, and value index are other related aspects of product and service quality, but are distinct from conformance quality. Performance quality refers to the effectiveness and efficiency of a product or service in meeting customer needs.

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money leakages, however, are quite high. required reserves and leakages amount to 33% of deposits. what is the leakage-adjusted money multiplier?

Answers

If required reserves and leakages amount to 33% of deposits, then the leakage-adjusted money multiplier would be 2.33. The money multiplier would be reduced by the proportion of deposits that are "leaked" out of the banking system.

The leakage-adjusted money multiplier can be calculated using the following formula:

Money multiplier = 1 / (Required reserve ratio + Leakage ratio)

Where the leakage ratio is the proportion of deposits that are "leaked" out of the banking system.

In this case, if required reserves and leakages amount to 33% of deposits, then the leakage ratio is also 33%. Therefore, the leakage-adjusted money multiplier would be:

Money multiplier = 1 / (Required reserve ratio + Leakage ratio)

Money multiplier = 1 / (0.1 + 0.33)

Money multiplier = 1 / 0.43

Money multiplier = 2.33

So the leakage-adjusted money multiplier in this case is 2.33.

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april has joined a team with members from the sales customers service and shipping and receiving departments which term best describes the team april joined

Answers

Answer:

A cross-functional team

Explanation:

A cross-functional team is composed of members with different skills, experiences, and backgrounds. In organizations, cross-functional teams will have members from various departments. The teams are formed to undertake projects that require input from different experts.

April has joined a cross-functional team. The team has members from many departments.  Cross-functional are temporally and get dissolved when the project is complete.

When advertisers consider running ads in American Life magazine, they have the option of buying geographic and demographic editions as well as the national edition. For instance, they can choose from editions targeted at professional and managers, homeowners, working women, and people aged 50 and older. In addition, they are offered editions for 8 geographical regions and for the top 20 metropolitan areas. American Life also offers multiple - page discounts for advertisers buying four or more consecutive pages in any one edition, as well as other volume discounts. Question: A media planner working for a high-end clothing retailer looks at its sales figures and discovers that a vast majority of its sales generated are from large cities. She decides to buy space in American Life editions that reach only the top 10 metropolitan markets. This media strategy is referred to as:
a. Geo-targeting
b. Flighting
c. Pulsing
d. Share of voice
e. Narrow casting

Answers

Explanation:

sorry but I didn't understand your question. I am extremely sorry


Why is it a good idea to be organized in the workplace?

Answers

It is a good idea to be organized in a workplace because an organized workplace will facilitate increased productivity and increased efficiency.

What is workplace?

A workplace is described as a place where an employee or a manager carries out projects, tasks, and jobs. It is important to mention that workplaces are the areas that are located inside a building or can be outside an office building.

An organized workplace means that everything in the workplace is kept in its respective places, and everything is very neat and clean. Such an organized workplace will allow the managers and the employees to focus entirely on the work and be more productive and efficient.

It can be concluded that it is a good idea to be organized in a workplace because an organized workplace will facilitate increased productivity and increased efficiency.

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given that kodak needed to follow a low-cost strategy, was it justified in issuing stock options to continenza? critically analyze this situation.

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Issuing stock options to Continenza, the former CEO of Kodak, requires a critical analysis to determine whether it was justified considering Kodak's need to follow a low-cost strategy.

Was the action justified in issuing stock options to Continenza?

On one hand, issuing stock options can be seen as a way to incentivize and retain top talent within the organization. By offering stock options, Kodak aimed to align Continenza's interests with those of the company's shareholders. This could motivate him to work towards increasing Kodak's value and long-term success. Additionally, stock options can be a cost-effective form of compensation, as they do not require immediate cash outflows.

However, the justification for issuing stock options depends on the specific circumstances and the impact it had on Kodak's low-cost strategy. While stock options can provide incentives, they can also dilute shareholders' equity and potentially undermine the focus on cost reduction.

It is important to assess whether the issuance of stock options to Continenza had a positive effect on Kodak's financial performance and operational efficiency. If the stock options successfully motivated Continenza to drive cost-saving initiatives and achieve the desired low-cost strategy, then it could be considered justified. On the other hand, if the issuance of stock options did not lead to significant improvements in Kodak's cost structure and profitability, it raises questions about its effectiveness and alignment with the low-cost strategy.

Additionally, the terms and conditions of the stock options granted to Continenza should be evaluated to ensure they were fair, transparent, and in line with corporate governance principles.

In conclusion, a critical analysis is necessary to assess the impact and justification of issuing stock options to Continenza in the context of Kodak's low-cost strategy. Evaluating the outcomes and considering the long-term implications on financial performance and cost reduction efforts will provide insights into the appropriateness of this decision.

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Select the best answer for the question
9. You start a new business selling a product that's the best of its kind on the market. In addition to
A. Good marketing
B. A large staff
C. A franchise license
D. Sales experience

Answers

Answer:

the answer is A

Explanation:

if you can't market it good then it will fail

megan is giving a speech about retirement plans to employees at a small company, and she wants to develop a rapport with her audience. which action will be most effective in helping megan accomplish this?

Answers

To develop a rapport with her audience, Megan should start her speech with an icebreaker or a personal story related to retirement planning.

This will help her connect with her audience on a personal level and create a comfortable and engaging atmosphere. Additionally, Megan should use relatable language and avoid technical jargon that may confuse or bore her audience. She should also encourage interaction and feedback throughout the speech to keep the audience engaged and involved in the discussion. By establishing a rapport with her audience, Megan can build trust and credibility, making it more likely that her message will be well-received and acted upon by the employees. Overall, Megan's ability to connect with her audience will determine the success of her speech on retirement planning.

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Across the five years, what is the average revenue generated by sales to public institutions?
A) $498,260,000
B) $99,652,000
C) $500,800,000
D) $307,580,000
E) $93,568,000
What is the difference in revenue generated between sales to businesses and sales to private individuals in Year 5?
A) $358,400,000
B) $207,872,000
C) $150,528,000
D $326,400,000
E) $166,400,000
The lead consultant on the project with Talabot & Hopkins is interested in Talabot & Hopkin's profit development over Year 1 to Year 5.
A) Talabot & Hopkins' proportional profit decreased over the five years.
B) Talabot & Hopkins' profit increased year on year over the five years.
C) Talabot & Hopkins' profit increased over the five years, mainly driven by their sales to private individuals,
D) Talabot & Hopkins'expenses decreased over the five years, which significantly contributed to the profit increase.
E) Talabot & Hopkin's profit increased from $131.1 M in Year 1 to $317.2m in Year 5.

Answers

Across the five years the average revenue generated by sales to public institutions is D) $307,580,000.

What does Average revenue mean?

Average revenue is a measure of a company's total income divided by the number of goods or services sold. It is a measure of how much money a company makes on average from each sale. Average revenue per unit or average revenue per sale are other terms for it.

What is the difference in revenue generated between sales to businesses and sales to private individuals in Year 5?

The difference in revenue generated between sales to businesses and sales to private individuals in Year 5 is C) $150,528,000

The lead consultant on the project with E) Talabot & Hopkin's profit increased from $131.1 M in Year 1 to $317.2m in Year 5.

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and aggregate supply curves. Illustrate with a diagram.
The late 1990 s in the United States were characterized by substantial economic growth with low inflation; that is, real GDP increased with little, if any, increase in the aggregate price level. Explain this experience using aggregate demand and aggregate supply curves. Illustrate with a diagram.

Answers

During the late 1990s in the United States, the economy experienced substantial economic growth with low inflation, commonly referred to as a period of "strong growth with low inflation." This can be explained using the aggregate demand (AD) and aggregate supply (AS) framework.

Aggregate demand (AD) represents the total demand for goods and services in an economy at different price levels. Aggregate supply (AS) represents the total supply of goods and services in an economy at different price levels.

In the late 1990s, the United States experienced a combination of factors that led to the observed phenomenon. These factors can be explained as follows:

1. Increase in Aggregate Demand (AD):

- Expansionary fiscal policy: The government implemented policies that aimed to stimulate economic growth, such as tax cuts and increased government spending.

- Expansionary monetary policy: The Federal Reserve lowered interest rates, making borrowing cheaper and encouraging consumer spending and business investment.

The increase in aggregate demand shifted the AD curve to the right, leading to higher real GDP and potentially higher prices.

2. Increase in Aggregate Supply (AS):

- Technological advancements and productivity gains: The late 1990s saw significant advancements in technology, particularly in the information technology sector. These advancements improved productivity and efficiency, allowing firms to produce more goods and services without significant increases in production costs.

- Globalization: Increased trade and access to international markets allowed firms to take advantage of lower production costs in other countries, further enhancing productivity and supply capacity.

The increase in aggregate supply shifted the AS curve to the right, leading to higher real GDP and potentially lower prices.

The intersection of the AD and AS curves determines the equilibrium level of real GDP and the price level. In the case of the late 1990s, the combination of increased aggregate demand and aggregate supply resulted in a rightward shift of both curves. This led to an increase in real GDP (economic growth) with little, if any, increase in the aggregate price level (low inflation), as shown in the diagram below:

```

             Price Level

                 ^

                 |

          P2  /

                 |------------------------

            P1  / \         AS

                 |   \_______

                 |         AD'

          P0  |         AD

                 |_________________________

                     Real GDP

```

In the diagram, AD represents the initial aggregate demand curve, while AD' represents the increased aggregate demand. AS represents the initial aggregate supply curve, which shifts to AS' due to increased productivity and supply capacity. The equilibrium shifts from point A (P0, Q0) to point B (P1, Q1), representing higher real GDP (Q1 > Q0) with relatively stable prices (P1 ≈ P0).

Therefore, the combination of increased aggregate demand and aggregate supply, driven by expansionary fiscal and monetary policies, technological advancements, and globalization, explains the experience of substantial economic growth with low inflation in the late 1990s in the United States.

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What is innovation? (Media Literacy)

A. A groundbreaking idea, product, or method
B. A technological tool that drives hyperlinks
C. An exciting development in a story's plot
D. A story that nobody has ever heard before

Answers

Answer:

A. A groundbreaking idea, product, or method

Explanation:

Innovation refers to the process that leads to the formation of new ideas that has been been invented before. It refers to the fresh ideas that helps in attracting people inn terms of business. Idea generation helps in new development and thereby helps in the progress. The introduction of the idea from the existing resources helps in the formation of new ideas that take the shape of innovation.

Essen Inc. bought 80% of the equity capital of Heidleberg Ltd for 3,240MM. The transaction was funded by 90MM of Essen's balance sheet cash, an issuance of 1,710MM worth of Essen debt and the remainder with Essen equity. What is the consolidated shareholders' equity

Answers

3,643.2 MM is the consolidated shareholders equity.

What is a shareholder, exactly?

A person or organization that has contributed funds to an organization throughout exchange for a "share" of ownership is referred to as a shareholder. Basic or preferred interests issued by the firm and held by the shareholder serve as a representation of that ownership.

Are shareholders deemed to be owners?

Existing share holders, also abbreviated as shareholders or voters, are allocated to a portion of the company's earnings, remaining assets, and voting rights.

Equity held by all combined shareholders: = Prior shareholders ownership of Essen Inc. + NCI + newly issued shares = 1872 MM + 331.2 MM + 1,440 MM = 3,643.2 MM

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What is friendship?? :)

Bye! Y'all!!

What is friendship?? :)Bye! Y'all!!

Answers

Answer:

agree with this

.................................

Answer:

just for fun

Explanation:

real friends are those who open their mouth to just insult there bestij

There are many different ways interviews can be conducted, including face-to-face, distance, group, and performance . Which style would you prefer the most? Why? Which style would you prefer the least? Why? << Read Less

Answers

Personally I would want a face-to-face interview. This is because of many factors. When you are in person you tend to absorb more information about the person. Scientifically speaking, you smell, see, and hear the person you are interviewing or being interviewed by, which proves that you know more about them. You also can interact better because of no physical distance, glitching, and or interruption. The style l least prefer is group interviews. This is because of how many people consist of the group. It could be from 2-1,000,000 and it still would make things harder. Individual interviewing let’s you learn more about the person in particular rather than juggling a entire group of mixed personalities. Add more and maybe put more detail and you have a outstanding essay. Or opinion. Depends on what you wanted. Have a great day!

Do you have to go to college? or can you go straight to the university?

Answers

Explanation:

continue go to college

2. What are the problems can someone have without personal finance knowledge?

Answers

The lack of financial literacy can lead to a number of pitfalls, such as accumulating unsustainable debt burdens, either through poor spending decisions or a lack of long-term preparation. This in turn can lead to poor credit, bankruptcy, housing foreclosure, or other negative consequences.

4. In your progress report, you want the Work Completed section to follow your
Summary of Costs. To date, the company has rewritten the home page content,
created a new logo, and updated the overall structure of the site. Currently, an idea
for site navigation has been proposed but not yet confirmed. You want to include a
visual of the navigation option in the progress report.

a. The navigation option includes these links from the Home Page: About, Services,
Customer Reviews, and Contact. The About section would include links to History
and Our Mission; the Services section would also include links to Pricing, Scope, and
Timeline. Show an example of a simple, custom graphic to display the navigation. (3
points)

4. In your progress report, you want the Work Completed section to follow yourSummary of Costs. To date,

Answers

Links to About, Services, Customer Reviews, and Contact are included in the suggested navigation option, along with dropdown menus for About (History and Our Purpose) and Services (Pricing, Scope, and Timeline).

What type of bar chart is most popular?

When showing a sequence of statistics over time, it is highly helpful. If long labels are needed, vertical bar graphs have the drawback of not leaving much room at the bottom of the chart.

Which bar charts are frequently employed to display time series data?

Using a sequence of bars, time series bar charts can display changes in a metric over time. This allows you to plot several series, display the breakdown of a metric across dimensions, and display the evolution of the values over time.

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Describe international events that could affect the number and types of jobs in a country

Answers

Answer and Explanation:

The international events that can affect the number and type of employment in a country are:

International crises: Crisis in the financial sector of partner countries can affect the availability of employment in another country in a very intense way. As we know, countries need to export products to each other, when one of the importers suffers a financial crisis and stops importing, there may be a decrease in the commercial production of the exporting country, which may close factories and stop the production of products as a result.

Political instability: It can cause the same as international crises, mainly due to the devaluation of the currency that occurs in countries with instability.

Partnerships and political conflicts: Partnerships between countries promote great trade between them. This will mean that countries need to produce products and services in greater quantity and therefore hire more people. Political conflicts, however, can have the opposite effect. In addition, political conflicts between two countries may cause other countries to stop exporting products in support of the allied country.

Economic sanctions: These are impositions that the most powerful countries impose on the least powerful countries, preventing a certain product from being produced or exported. Without exports, the production of the product falls. This affects the number of producing companies and the number of job openings.

A savings account earns interest by being compounded continuously. The account initially had $1,500 deposited in it. The worth of the account after t-years can be calculated using the formula: A(t)=1500e.03t
(Part A)By what percent will the worth of the account increase per year? Round to the nearest hundredth of a percent (Part B) To the nearest tenth of a year, how many years will it take for the worth of the account to double?
(Part C) If another investment began with a principal of $1,200 and earned interest of 4.5% applied once per year, which investment would be worth more after 10 years?

Answers

The first investment with continuous compounding would be worth more than the second investment, which would be worth approximately $1,959.94.

Part A: To calculate the percent increase per year, we need to find the annual growth rate. In the given formula, A(t) = \(1500e^{(0.03t)} ,\) the value 0.03 represents the growth rate per year (0.03 = 3%). Therefore, the worth of the account will increase by 3% per year.

Part B: To find the time it takes for the worth of the account to double, we need to set up the equation A(t) = 2 * 1500 and solve for t.

2 * 1500 = \(1500e^{(0.03t)} ,\)

2 = \(e^{(0.03t)}\)

Taking the natural logarithm (ln) of both sides:

ln(2) = ln()

ln(2) = 0.03t * ln(e)

ln(2) = 0.03t

Dividing both sides by 0.03:

t = ln(2) / 0.03 ≈ 23.1 years

So, it will take approximately 23.1 years (rounded to the nearest tenth) for the worth of the account to double.

Part C: For the second investment, the worth after 10 years can be calculated using the formula: A(t) = \(P(1 + r)^t\), where P is the principal, r is the interest rate, and t is the time in years.

For the second investment:

P = $1,200

r = 4.5% = 0.045

t = 10 years

A(t) = \(1200(1 + 0.045)^{10}\) ≈ $1,959.94

After 10 years, the first investment with continuous compounding would be worth more than the second investment, which would be worth approximately $1,959.94.

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