Explanation:
copying another form of writing
Answer:
$1.5
Explanation:
Interest is compounded monthly.
The applicable formula for amounts after one month is
A = P + (1 + r)^n
P = principal amount $575
r is interest rate 3.1% per year or 3.1/12 per month =0.26% or 0.0026
n= 1 month
A = $575 +( 1+0.0026)^1
A =$575x 1.0026
A= $576.495
A= $576.5
Interest earned in the month
= $576.5 -$575
=$1.5
Answer:
The answer is: Ms. Crocker LTCL is $0 and her basis for her 1,000 shares purchased in 2020 is $8,000
Explanation:
Ms. Crocker initially bought 1,000 stocks at $10,000, then she sold her stock at $9,000 losing $1,000. Then she again bought the same stock for $7,000. She can offset her initial loss ($1,000) and instead add it to the value of the stock purchased later. So instead of having 1,000 shares with a $7,000 value, she can value her stock at $8,000.
B.) It grows savings at a faster pace.
The interest rate determines how much money a bank pays you to keep your funds on deposit. Suppose you deposit $5,000 into a savings account, don’t deposit or withdraw any more money and the interest rate doesn’t change. If the account has a 1.00% interest rate and the interest compounds annually—that is, the bank pays you interest on your balance once each year—you’ll earn $50 after the first year. -Discover.com
