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bagirrra123 [75]
3 years ago
8

The apr of burt's savings account is 2.5%, but interest is compounded only once a year. what is the apy of burt's savings accoun

t?
Business
2 answers:
Free_Kalibri [48]3 years ago
7 0

Answer: 2.5%


Explanation: Economically speaking, If an account is compounded once a year the APY will always be equal to APR. Contrary to this, if an account is compounded more than once per year, the APY will always be greater than the APR. So, the answer is 2.5%.

ivann1987 [24]3 years ago
5 0

The APR (annual percentage rate) and the APY (annual percentage yield) are both 2.5%. Due to the interest compounding quarterly, the two share the same equal amount in this case and have a 2.5% interest rate. APR, is usually found on a credit card, mortgage or a loan where there are payments being paid to a lender. The APY, is usually found when describing a savings or checking account that is interest bearing. An interest bearing account refers to an account in which you deposit money into, and you earn money overtime by keeping it in the bank.

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Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet at the end of
avanturin [10]

Answer:

Explanation:

First of all we will perpare the T-Accounts for the identification of shares issued and dividend paid during the year as follows :

Share Capital And premium Account  

Opening Balance  -105000

Closing Balance  164000

Shares Issued  59000

Retained Earnings      

Opening Balnce                   376750

Net Income During the Year       96100

Closing Balance                     -455490

Dividend Paid Balancing figure       17360

Now We will Draft the inancing section of the statement of cash flows.

<u>Cash flow from investing Activities</u>  

Issuance of shares                                    59000

Dividend Paid                                            -17360

Net cash from finance activity                  41640

5 0
3 years ago
You believe your restaurant concept can generate $50,000 in net profit per year. Your investors demand at 20% return on investme
svlad2 [7]

You believe your restaurant concept can generate $50,000 in net profit per year. Your investors demand at 20% return on investment. How much can you invest?

If your business generates $50,000 in net profit and the investors demand 20% return on investment to solve for how much the investors will get and how much you can invest follow the steps below:

How much the investors will get in return on investment (ROI):

($50,000)(20%) = $10,000 is what the investors will receive

How much can you invest:

$50,000 - $10,000 = $40,000 is what you can invest

3 0
3 years ago
27) Cooley Landscaping Company needs to borrow $30,000 for a new front-end dirt loader. The bank is willing to loan the funds at
viva [34]

Answer:

The annual payment at the end of each year: $4,572.23

Explanation:

The formular for calculating Present value of Annuity is applied in this case to help us find the equal annual payment.

Applying information in the question, we have the annuity that have:

n= 10 as there are 10 equal annual payments paid at the end of each year during 10 years;

i = 8.5% per annum compounded annually, as stated in the question;

PV = Borrowed amount = $30,000;

C = the equal annual payment.

The formular for PV of Annuity: PV = (C/i) x [ 1- (1+i)^(-n)] <=> C = (PV x i) / [ 1- (1+i)^(-n)]

Thus, C = (30,000 x 8.5%) / [ 1- 1.085^(-10) ] = $4,572.23

7 0
3 years ago
How are payroll taxes and user fees different?
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3 years ago
Scientists assign each kind of organism a universally accepted name in the system known as:.
Viefleur [7K]

Answer:

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Explanation:

What is Binomial nomenclature?

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4 0
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Read 2 more answers
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