1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AlexFokin [52]
1 year ago
8

I got this question on my quiz a few weeks ago and was wondering if anyone could explain the best/correct answer.

Business
1 answer:
Anon25 [30]1 year ago
4 0

Answer:

Easy it's B, this is because the rate at which we earn interest with only 1000$ does not keep up with the maintenance fee.

In B u get $1010 because of the interest after the first year,

In D u get $960 because if u get an annual interest of 2% from $1000 u get a total of $1020 but deduction from maintenance fee is $60 per year, Thus $1020-$60 = $960. Same explaination for the others as well.

You might be interested in
An investor can invest money with a particular bank and earn a stated interest rate of 13.20%; however, interest will be compoun
mr_godi [17]

The effective compound interest rate is 13.87%.

<h3><u>What is Compound Interest?</u></h3>
  • The interest on a loan or deposit that is calculated based on both the initial principle and the accumulated interest from prior periods is known as compound interest (also known as compounding interest).
  • Compound interest, sometimes known as "interest on interest," is said to have its roots in 17th-century Italy. Compared to simple interest, which is calculated solely on the principal amount, it will cause a sum to grow more quickly.
  • The frequency of compounding determines the rate at which compound interest accumulates.
  • The compound interest increases with the number of compounding periods.
  • For instance, during the same period of time, the amount of compound interest accrued on $100 compounded at 10% yearly will be less than $100 compounded at 5% semi-annually.

Nominal = interest rate

That is Nominal rate is also known as interest rate.

Nominal rate =  13.20%

The invested money is compounded quarterly.

Periodic = 13.2%/4 (quarterly)

Periodic rate = 3.30%

Now,

The interest rate that accounts for compounding over a specific time period is called the Effective Annual Interest Rate (EAR). The rate of interest that an investor can earn (or pay) in a year after taking into account compounding is known as the effective annual interest rate, to put it simply.

Effective annual rate = EFF% = [1 + (0.13200 / 4)]⁴ - 1 = 13.87%

Know more about Compound Interest with the help of the given link:

brainly.com/question/14295570

#SPJ4

3 0
2 years ago
N organization's hierarchy of authority refers to an organization's _____.
lara31 [8.8K]

commenting so I can get help too


3 0
3 years ago
In a research proposal, which section comes first?
Amiraneli [1.4K]

Answer:

a. introduction

Explanation:

of a proposal begins with a capsule statement.

3 0
3 years ago
Read 2 more answers
For which two main purposes do companies use social media?
Andrei [34K]

Corporations use social media for various purposes, but from the available options, the two ways they are most commonly used is for (B) advertise their services and check the market and (D) keep up with the latest industry news.

Advertising their services can lead to increased sales for corporations since people nowadays use their social media a lot. Keeping up with the latest industry news would also be helpful for corporations in using the right approach for advertising as well as creating product diversification that are suitable for the market they are aiming for.

7 0
3 years ago
In responsibility accounting, unit managers are evaluated only on things that they can:________
hammer [34]

Answer: have control over

Explanation:

Responsibility accounting is a system of accounting whereby responsibility centers are identified and the performance reports of such responsibility centers are prepared and analysed.

Responsibility accounting has to.do with the internal accounting for the responsibility center that the company has and their budgeting.

In responsibility accounting, unit managers are evaluated only on things that they can control or have control over.

7 0
2 years ago
Read 2 more answers
Other questions:
  • Nations that have the strongest product liability laws tend to be well- developed economically However, the general case in deve
    7·1 answer
  • What is the total Cost of Goods Sold for December 31, 2016 if a manufacturer has the following account balances at December 31,
    11·1 answer
  • AA Appliances sells refrigerators. In 2015 it added $100,000 to its inventory. $10,000 of this addition was from used refrigerat
    14·1 answer
  • Which situation is most likely an indicator that an economy has reached a peak?
    7·1 answer
  • The weekly gathering of friends and family in an Iranian-American home, where rituals, food, and cultural practices from Iran ar
    13·1 answer
  • Pitkin Enterprises produces animal figurines for children and young adults. For children, it makes hard-to-break figurines that
    12·1 answer
  • 1. Which of the following is characteristic of governmental fund accounting and financial reporting? a. The inclusion of only fi
    7·1 answer
  • All of the following are examples of a commodity except
    6·2 answers
  • Kristina just won the lottery, and she must choose among three award options. She can elect to receive a lump sum today of $62 m
    7·1 answer
  • . General Motors is considering increasing the length of its bumper-to-bumper warranty on new vehicles from 3 years to 5 years.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!