Answer: should be protected due to the fact that their account is insured by FDIC.
Explanation:
From the question, we are informed that after Xavier and Alyssa deposited nearly $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy but that the Bigbux was an FDIC member bank.
Based on the above scenario, Xavier and Alyssa should be protected due to the fact that their account is insured by FDIC. Since the bank is insured, their money is safe.
Answer:
Fractional Reserves
Explanation:
Banks are required to hold money to lend out. If you deposit $100 into your account that is $100 for the bank to lend that money out to ones who need it.
<span>b. public schools is the answer i did the test.</span>
Using the formula for compound interest:
The formula for annual compound interest, including principal sum, is:
A = P (1 + r/n)ⁿˣ
Where:
A = the future value = $95000
P = the principal investment amount = ?
r = the annual interest rate = 0.06
n = the number of times that interest is compounded per year = 2
x = the number of years the money is invested = 0.5
95,000 = P (1 + 0.06/2)¹
95,000 = P (1.06/2)
95,000 = P (0.53)
P = 95,000 ÷ 0.53
P = 95,000 ÷ 0.53
P = 179,245.30
Total compounded interest = 179,245.30 - 95,000
Total compounded interest = 84,245
Answer:
15600 , 13600
Explanation:
Annual Depreciation = [Cost of Asset - Salvage Value] / Expected use years
Year 1 Beginning : Cost = $82000 , Salvage Value = $4000, Years = 5
So, Annual Depreciation = [82000 - 4000] / 5
= 78000 / 5 = 15600
Year 4 Beginning : {3 Years gone, 2 years left}
Asset Value remaining = Cost - [(Annual Depreciation)(Years)]
= 82000 - [(15600)(3)]
= 82000 - 46800 = 35200
Dep. = [Cost - Scrap Value] / Years
= [35200 - 8000] / 2
= 27200/2 = 13600
