The annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges is $9. Read below about the analysis of the annual opportunity cost of a checking
<h3>What is the annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges?</h3>
The calculation goes thus;
Annual opportunity cost = Minimum balance × Interest rate
= $300 × 0.03
= $9
Therefore, the correct answer is as given above
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This is a False Statement.
Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.
Specifically, management accounting aims to
- provide Information for internal Organisation managers
- providing details to governmental regulating bodies
- Information for shareholders, the accounts payable department, and other parties outside the company
- information to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.
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Answer: b. When population exceeds real GDP growth
Explanation:
Gross domestic growth(GDP) is the monetary value of all finished goods and services done within in a country over a period of time. When the population of a country exceeds what it produces there would be record in decline in productivity of the country. This is a serious problem as it could lead to other factors as scarcity(having high demand and low supply), it could lead to poverty as there won't be much jobs as production is not commensurate with population.
Answer:
Future Value= $156,901.16
Explanation:
Giving the following information:
Assume Coronado Industries deposits $98000 with First National Bank in an account earning interest at 8% per annum, compounded semi-annually.
To calculate the future value of this investment, we need to use the following formula:
FV=PV*(1+i)^n
PV= 98,000
i= 0.08/2= 0.04
n= 6*2= 12
FV= 98,000*(1.04^12)= $156,901.16
Hello, The first step of financial planning process is to define specific goals. Since this is the first step I figured it is the most important.
Hope this helps..
