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torisob [31]
1 year ago
6

Meg invested $16,000 in a savings account. if the annual interest rate is 6%, how much will be in the account in 5 years for qua

rterly compounding? round your answer to two decimal places.
Business
1 answer:
Yakvenalex [24]1 year ago
6 0

Meg invested $16,000 in a savings account. if the annual interest rate is 6%. In 5 years for quarterly compounding is $ 21,549.68.

<h3>What is interest rate?</h3>
  • The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate (called the principal sum).
  • The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
  • The interest rate over a year is known as the annual interest rate.
  • Other interest rates are applicable over shorter time frames, such a day or a month, but they are typically annualized.
<h3>What is saving account?</h3>
  • An account in a retail bank is a savings account.
  • Common characteristics include having a finite number of withdrawals allowed, not having check or connected debit card facilities, having few transfer choices, and not being able to become overdrawn.
  • Savings account transactions were typically recorded in a passbook in the past, hence the term "passbook savings accounts," and bank statements were not typically supplied.
  • Nowadays, same transactions are typically recorded electronically and are available online.

Learn more about interest rate here:

brainly.com/question/13324776

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igomit [66]

Answer: See explanation

Explanation:

Based on the information given, we are informed that the co-worker has recorded a cash receipt twice and wants the full time bookkeeper to record a correcting entry that will reverse the mistakes.

Before making a decision about the correcting entry, it is necessary to check the entry and cross check the balances for sales and cash. One has to also check the receipts and every other necessary details in order to make sure that the transaction is genuine and not fraudulent.

After the through check, if the person is sure and confident that everything is okay, then the correcting entry can be made.

3 0
3 years ago
What is an​ activity-based approach to designing a costing​ system?
DaniilM [7]

Answer: The correct answer is "C. An​ activity-based approach refines a costing system by focusing on individual activities as the fundamental cost objects. It uses the cost of these activities as the basis for assigning costs to other cost objects such as products or services.".

Explanation: The ABC costing model is a model that is based on the grouping into cost centers that make up a sequence of value of the products and services of the company's productive activity. It focuses its efforts on managerial reasoning in an adequate way the activities that cause costs and that are related through its consumption with the cost of the products. The most important thing is to know the generation of costs to obtain the greatest possible benefit from them, minimizing all the factors that do not add value.

6 0
3 years ago
Brenda is an interior designer. Before buying products for interior furnishing, she gathers information about the products manuf
Solnce55 [7]

Answer:

searching products by brand

Explanation:

Generally customers search products by brand or by attributes. When you search products by attributes you are looking for some specific product and you are not that interested about the brand of the product, e.g. you are searching for a dress and your emphasis is towards the design of the dress not the brand. When you search by brand, you assign a different value to each brand that you are searching, depending on which brands you like the most or feel more comfortable with.

In this case, Brenda probably has a very good idea about the products that each brand offers and depending on her clients will decide which brand's products to offer.

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3 years ago
When faced with an employee performance problem, managers tend to experience two primary emotions: anxiety and anger; anxiety, b
VikaD [51]

Answer:

<u>Behavioral</u> theory can be used to acknowledge positive behavior with rewards and encourage others to improve their sub-par performance.

Explanation:

In employee management, a lot of theories can be used to strategically control human resources towards the fulfillment of the company's objectives.

To address an employees performance problem, managers are faced either with an option to sanction or deal ruthlessly as well as an option to stimulate excellence without necessarily applying strict measures.

To influence positive behavior organically in an organization, Behavioral theory can be applied.

Behavioral theory is a management theory that acknowledge positive behavior with rewards and encourage others to improve their sub-par performance.

5 0
3 years ago
Key aspects of the process selection challenge include __________ and __________ Capital Intensity; Process Flexibility Informat
Ugo [173]

Answer:

A. capital intensity; process flexibility

Explanation:

Capital Intensity is the mix of equipment and human skills in the process; the greater the relative cost of equipment, the greater is the capital intensity.

Machining and assembly, programmable automation breaks the inverse relationship between resource flexibility and capital intensity.

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3 years ago
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