13. [ 9 points] You have \( \$ 3500 \) to invest. You can choose from two accounts in which to invest your money. The first is a simple interest account that earns \( \$ 100 \) each year. The second is a compound interest account that earns \( 3.5 \% \) interest per year. Answer the following questions: a. How long will it take to double your money in the simple interest account?

Find the amount that results from the given investment. \( \$ 300 \) invested at \( 4 \% \) compounded quarterly after a period of 3 years After 3 years, the investment results in \( \$ \square \). (Round to the nearest cent as needed.)

E5-32B. (Learning Objective 5: Apply GAAP for uncollectible receivables) At December 31, 2024, Concord Travel Agency has an Accounts Receivable balance of \( \$ 87,000 \). Its net accounts receivable is \( \$ 86,120 \) before the year-end adjustment. Service revenue (all on account) for 2024 was \( \$ 800,000 \). Concord estimates that its bad debt expense for the year is \( 3 \% \) of service revenue. Requirêments 1. Calculate Concord's bad debt expense for 2024 . 2. How are Concord's balance sheet and income statement impacted by the adjustment to recognize bad debt expense for the year? 3. Calculate the net realizable value of accounts receivable as of December 31,2024 .

A car was valued at \( \$ 31,000 \) in the year 1995 . The value depreciated to \( \$ 11,000 \) by the year 2003. A) What was the annual rate of change between 1995 and 2003 ? \( r=\square \) Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2007 ? value \( =\$ \)

December 31, 2024, Concord Travel Agency has an Accounts Receivable balance of \( \$ 87,000 \). Its net accounts receivable is \( \$ 86,120 \) before the year-end adjustment. Senvice revenue (all on account) for 2024 was \( \$ 800,000 \). Concord estimates that its bad debt expense for the year is \( 3 \% \) of service revenue. Requirements 1. Calculate Concord's bad debt expense for 2024 .

ASK YOUR TEACHER \( \quad \) PRACTICE ANOTHER Find the annual percentage yield for an investment at the following rates. (Round your answers to two decimal places.) (a) \( 7.6 \% \) compounded monthly