{"id":280085,"date":"2025-08-04T14:22:59","date_gmt":"2025-08-04T14:22:59","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=280085"},"modified":"2025-08-04T14:23:02","modified_gmt":"2025-08-04T14:23:02","slug":"casello-mowing-landscapings-year-end-balance-sheet-lists-current-assets-of-436900-fixed-assets-of-551100-current-liabilities-of-418300-and-long-term-debt-of-317900","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2025\/08\/04\/casello-mowing-landscapings-year-end-balance-sheet-lists-current-assets-of-436900-fixed-assets-of-551100-current-liabilities-of-418300-and-long-term-debt-of-317900\/","title":{"rendered":"\u00a0Casello Mowing &amp; Landscaping&#8217;s year-end balance sheet lists current assets of $436,900, fixed assets of $551,100, current liabilities of $418,300, and long-term debt of $317,900"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2025\/08\/image-386.png\" alt=\"\" class=\"wp-image-280086\"\/><\/figure>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-ast-global-color-1-color\">The Correct Answer and Explanation is:<\/mark><\/strong><\/p>\n\n\n\n<p><strong>Correct Answer:<\/strong>&nbsp;$12,000<\/p>\n\n\n\n<p><strong>Explanation:<\/strong><\/p>\n\n\n\n<p>To determine the total amount in Jennifer&#8217;s savings account after 10 years, we need to calculate the simple interest earned and add it to the initial principal deposit. The problem provides all the necessary information: the principal amount, the annual interest rate, and the time period. The formula for calculating simple interest is a fundamental concept in finance.<\/p>\n\n\n\n<p>First, we identify the given values. The principal (P), which is the initial amount Jennifer plans to deposit, is $10,000. The annual interest rate (R) is 2%, which must be converted to a decimal for calculation purposes, becoming 0.02. The time (T) for which the money will be in the account is 10 years.<\/p>\n\n\n\n<p>The formula to find the simple interest (I) earned is I = P \u00d7 R \u00d7 T. By substituting the values into this formula, we can calculate the total interest. The calculation is as follows: Interest = $10,000 \u00d7 0.02 \u00d7 10. This shows that Jennifer earns&nbsp;<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code>200ininteresteachyear(200<em>inin<\/em><em>t<\/em><em>eres<\/em><em>t<\/em><em>e<\/em><em>a<\/em><em>c<\/em><em>h<\/em><em>ye<\/em><em>a<\/em><em>r<\/em>(<\/code><\/pre>\n\n\n\n<p>10,000 \u00d7 0.02). Over the full ten year period, the total interest accrued will be $200 multiplied by 10, which equals $2,000.<\/p>\n\n\n\n<p>Finally, to find the total amount in the account, we must add the total interest earned to the original principal amount. The formula for the total amount (A) is A = Principal + Interest. So, the total amount is $10,000 + $2,000. This results in a final balance of $12,000. Therefore, after 10 years, Jennifer&#8217;s savings account will contain a total of $12,000. The fact that there are three different banks is irrelevant to the calculation since they all offer the same 2% simple interest rate.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2025\/08\/learnexams-banner4-99.jpeg\" alt=\"\" class=\"wp-image-280087\"\/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Correct Answer and Explanation is: Correct Answer:&nbsp;$12,000 Explanation: To determine the total amount in Jennifer&#8217;s savings account after 10 years, we need to calculate the simple interest earned and add it to the initial principal deposit. The problem provides all the necessary information: the principal amount, the annual interest rate, and the time period. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-280085","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/280085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=280085"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/280085\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=280085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=280085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=280085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}