A deposit of 4,000 at 9.5% for 270 days
I = Po*r*t = 4000*(0.095/360)*270 = $285
Chucks Computer Corporation has 10,000 shares of stock outstanding.
A. If it declares dividends of 12,000, what is the divided per share of stock?
B. what would you share of the declared dividend if your owned 50 shares?
Thanks for the help.
To calculate the interest earned on a deposit of $4,000 at an interest rate of 9.5% for a period of 270 days, you can follow these steps:
Step 1: Convert the interest rate to decimal form.
9.5% = 0.095 (by dividing the percentage by 100)
Step 2: Calculate the interest earned using the formula:
Interest = Principal x Rate x Time
In this case:
Principal = $4,000
Rate = 0.095
Time = 270 days / 365 days (since the interest rate is annual)
Interest = $4,000 x 0.095 x (270 / 365) = $111.07
Therefore, the interest earned on the deposit of $4,000 at a rate of 9.5% for 270 days would be approximately $111.07.
To calculate the interest earned on a deposit, you need to use the formula:
Interest = (Principal * Rate * Time) / 365
Principal refers to the initial deposit amount, Rate is the annual interest rate (expressed as a decimal), Time represents the number of days the money is deposited for, and 365 is the number of days in a year.
In this case, the principal (P) is $4,000, the rate (R) is 9.5% or 0.095, and the time (T) is 270 days.
Substituting these values into the formula:
Interest = (4000 * 0.095 * 270) / 365
Now, let's calculate the interest:
Interest = (382,500) / 365
Interest = $1,049.32 (rounded to two decimal places)
So, the interest earned on a deposit of $4,000 at a 9.5% interest rate for 270 days is $1,049.32.