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2 years ago

1. Should you have a separate checking and saving account?

1 answer:

5 0

Back when interest rates were high, I had just one account. I had a money-market checking account that offered good interest rates and unlimited check writing. But those days are long gone.

I want as high an interest rate as I can get for my savings. In order to get those rates, I am using a money-market savings account. All such accounts I’ve seen restrict the number of transactions I can make in a month. I need to be able to pay bills, no matter how many of them there are — and I never ever want to pay fees for excess transactions!

So I have a separate checking account. It pays less than half the interest rate of my savings account, but I can make as many transactions as I want. The bank offers a bill pay application that I use for most payments, and I can write as many checks as I want to. I can transfer money between the accounts quickly.

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Explain what a debit memorandum is by completing the following sentence.When a buyer returns or takes an allowance on merchandis

tangare [24]

When a buyer returns or takes an allowance on merchandise, the Buyer issues a debit memorandum to inform the Seller of a debit made to the seller's account in the buyer's records

Explanation:

A debit memorandum is an information recording adjustment for three particular cases: reducing the account balance of a bank customer, under filling goods or services or a small credit balance internally offset to a customer account.

A debit receipt is provided to an account holder in financial institutions stating that now the balance of the account was reduced due to a cause apart from cash withdrawal or cash search. Because of bank fees or bundled check expenses, debit memos may arise. Usually, the memos and their monthly bank statements are forwarded to bank clients.

4 0

2 years ago

Which of the following would classify as a general education requirement

rodikova [14]

A General Education Diploma

5 0

3 years ago

Connor Corp. has large amount of data that they are trying to analyze from the last 15 years. They have an arithmetic sales grow

viva [34]

Answer: sale growth rate = 10.82%

Explanation:

blume's formula = ((t - 1)/(n - 1 )) x arithmetic r + geometric r x (n - t)/(t - 1)

blume formula = ((5 -1 )/(15 - 1)) x 0.09 + 0.12 x (15- 5)/ (5 - 1)

Blume formula = 10.82%

3 0

3 years ago

Credit card A offers an introductory APR of 3.4% for the first 3 months and a standard apr of 15.7% thereafter, while credit car

Liula [17]

Incomplete question. However, I answered based on the information.

Explanation:

We can determine which Credit card is best in terms of its interest rate by comparing both rates monthly:

Credit card A

APR for the First 3 months:

4.1% / 360 days = 0.009% x 30 = 0.27% per month for the first 3 months.

APR for Next 9 months:

15.7% / 360 days = 0.04361% x 30 = 1.308% per month for the next 9 months.

Credit card B:

APR the First 3 months

4.2% / 360 days = 0.011% x 30 = 0.33% per month for the first 3 months

Next 9 months:

15.5% / 360 = 0.04305% x 30 = 1.291% per month for the next 9 months

Hence, we can conclude,

For the first 3 months, Credit Card A is best because it offers lower interest charges.

For the next 9 months, Credit Card B is best because it offers lower interest charges.

7 0

2 years ago

Read 2 more answers

At what amount is a short-term notes receivable recorded on the issue date?

laiz [17]

Answer:

At face value

Explanation:

Short term notes are always recorded at face value, and that applies to both interest and non-interest bearing short term notes.

Non-interest bearing long term notes must be recorded at their discounted value, i.e. you must discount the long term note' face value by the discount rate used by the company.

6 0

2 years ago