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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

#SPJ4

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Which one of the following descriptions best describes horizontal integration? 1) the economic development of the American West
blondinia [14]

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b

Explanation:

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XYZ Corporation, located in the United States, has an accounts payable obligation of ¥750 million payable in one year to a bank
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Answer and Explanation:

The answer is attached below

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2 years ago
The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount
S_A_V [24]

Answer:

low market growth, high relative market share

Explanation:

In 1970, Bruce D. Henderson created a certain growth-share matrix for the Boston Consulting group in which the cash cow was stated to be a company that operates in a slow-growing industry but with large market share.

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3 0
3 years ago
By lowering production costs, subsidies help foreign competitors gain export markets. True or False
Luden [163]

Answer:

False

Explanation:

Whenever, there will be reduced production costs, due to any reason in the economy, then the goods will be cheaper and accordingly the sale will be in abundance assuming other factors remain constant.

Thus, due to subsidies the cost to producers will be less and then exporters will not be able to get more share as domestic goods will cost cheaper.

Thus, there will not be any gain to foreign competitors in our domestic markets, as they will not get any share extra rather they will loose as a foreign competitor. In fact goods which are exported will also cost low, and therefore, will gain new customers.

Therefore, above stated statement is false.

5 0
3 years ago
Shiva returns goods worth Rs.2000 and received cash Rs.8000 ?​
Reika [66]

Answer:

When goods were sold to Shiva :

Shiva A/C   Dr   Rs.10,000

   To Sales A/C    Rs.10,000

(Being goods sold to Shiva)

When goods are being returned by Shiva :

Sales Returns A/C   Rs.2000

   To Shiva A/C   Dr    Rs.2000

(Being goods returned by Shiva)

When Cash is received from Shiva :

Cash A/C  Dr    Rs.8000

  To Shiva A/C   Rs.8000

(Being Cash received from Shiva)

HOPE THIS HELPS!!!

MARK IT AS BRAINLIEST!!!

6 0
3 years ago
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