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o-na [289]
1 year ago
9

An online bank is offering to pay 0.25 % interest per month on deposits. Your local bank offers to pay 0.75 % interest quarterly

(every 3 months). Which is the higher interest rate?
Business
1 answer:
Liono4ka [1.6K]1 year ago
4 0

Both have the same interest rate which is 3%.

<h3>What is interest?</h3>
  • In finance and economics, interest is the payment of an amount above the repayment of the principal sum by a borrower or deposit-taking financial institution to a lender or depositor at a specific rate by a borrower or depositor.
  • It differs from a fee that the borrower may pay to the lender or a third party.

To find the higher interest rate:

Given that,

  • Interest rate per month = 0.25%
  • Interest rate per quarter = 0.75%

If we calculate the annual interest for monthly and quarterly rates, it will be:

Monthly

  • No. of months in a year = 12
  • Monthly rate = 0.25%

So,

  • Annual Interest = 0.25 × 12
  • = 3%

Quarterly

  • No. of quarters in a year = 4
  • Quarterly rate = 0.75%

So,

  • Annual Interest = 0.75 × 4
  • = 3%

Therefore, both have the same interest rate which is 3%.

Know more about your interests here:

brainly.com/question/2294792

#SPJ4

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Worker A is more effective than Worker B. Both workers become less effective as their workloads increase. Both workers are paid
sineoko [7]

Answer: False

Explanation:

Question mentions that even though Worker A and Worker B are both paid the same salary and become less effective as their workload increase, Worker A is still more effective than Worker B.

The optimal allocation therefore would be one where Worker A get more of the 200 units of production than Worker B because they would be able to produce more as they are more effective.

8 0
3 years ago
Dye Trucking raised $85 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $8.50. If Dye
ivanzaharov [21]

Answer:

60,000,000

Explanation:

Dye trucking raised $85 million to buy stock

After the recap Dye's stock price is $8.50

Dye share had 70 million share before the recap

Therefore the number of shares present after the recap can be calculated as follows

= 70,000,000-(85,000,000/8.50)

= 70,000,000-10,000,000

= 60,000,000

Hence the number of shares after the recap is 60,000,000

8 0
3 years ago
What is the benefit of a 529 education saving plan?
Fofino [41]

Answer:

The second statement is true.

Explanation:

  • The school is dependent on what state the 529 is registered with.
  • Option 3 is not a benefit
  • 529 contributions are made with after tax dollars, only interest earned and distributions are tax deffered.
7 0
3 years ago
A music teacher asked her students to set a really hard goal, such as increasing their practice time by 10 hours per week, which
PilotLPTM [1.2K]
The answer is Stretch Goal.  It is also called a Stretch Target, it is <span>a high and difficult level of success that a student must achieve if they are to be considered to be doing their job in a satisfactory way.  Practicing 10 hours a week would cause the students to reach beyond what they think is possible.</span>
5 0
3 years ago
Using tools, operating vehicles, and repairing equipment all involve working with _____.
Akimi4 [234]

Answer:

things.

Explanation:

Using tools, operating vehicles, and repairing equipment all involve working with things.

8 0
2 years ago
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