All categories

3 years ago

Why is the savings account better than a checking’s account for saving money?

Business

1 answer:

Lisa [10]3 years ago

7 0

Because it pays a higher rate of interest.

A savings account is better than a checking account for saving money because they normally pay a higher interest rate than a checking account. Quite often, a checking account will not pay any interest at all.

You might be interested in

You heard somebody say, Marketing is just sales and advertising" Discuss the accuracy of this statement

Serga [27]

Answer:

Marketing is much more than just sales and advertising.

Explanation:

Marketing is when an individual or a firm develop the interest of a client or an intending customer to the product one sells or services one render. It makes use of research, distribution, sales promotion etc .

Before an individual or a business venture goes into marketing, it must make thorough research on who his potential buyers are, how can he convince them to buy the products.

The distribution channel must also be considered, like getting the goods

directly to the buyers or involving middle men. There is also sales promotion when considering marketing. Sales promotion includes all activities aimed at promoting immediate sales like raffle draws, offering gifs after purchase etc.

The basic aim of marketing is to sell, acquire customers and retain them while employing marketing concepts and mix(using place, price, promotion and product).

3 0

3 years ago

How can you solve circle geometry in a simple way

lisabon 2012 [21]

Answer: by using the formula A=pi(3.14) R(radius) squared

Explanation:

Hope that helped

8 0

2 years ago

Read 2 more answers

"_____" is the alternative term for "comfort" that is used by the wall street journal as one of the factors to grade jobs.

Leya [2.2K]

The answer is environment, this is the word that the wall street journals used in having to term the word comfort as this is somehow a word that made sense to them or something that depicts to them for them, environment is a way of having to say that it is comfort or comforting to other people.

3 0

3 years ago

Shane wants to invest money in a 6% CD account that compounds semiannually. Shane would like the account to have a balance of $1

masya89 [10]

Answer:

Amount deposit = $118,411.4 (Approx.)

Explanation:

Given:

Future amount = $150,000

Rate of interest = 6% compounds semiannual

Number of year = 4 year

Find:

Amount deposit

Computation:

Compounds semiannual

So,

Rate of interest = 6% / 2 = 0.03

Time taken = 4 x 2 = 8 times

So,

A = P[1+r]ⁿ

150,000 = p[1+0.03]⁸

150,000 = p[1.03]⁸

150,000 = p[1.26677]

p = 150,000 / 1.26677

p = 118,411.393

Amount deposit = $118,411.4 (Approx.)

4 0

2 years ago

Concord Company had bonds outstanding with a maturity value of $311,000. On April 30, 2017, when these bonds had an unamortized

Dmitrij [34]

Answer:

Redemption of Old Bonds

4-30-17 Bonds Payable $311000 Dr

Loss on Bond Redemption $26550 Dr

Discount on Bonds Payable $11000 Cr

Cash $326550 Cr

Issuance of New Bonds

3-30-17 Cash $314110 Dr

Premium on Bonds Payable $3110 Cr

Bonds Payable $311000 Cr

Explanation:

Redemption of Bonds Payable

The maturity value for bonds payable is equal to the face value of these bonds. This means that the face value of old bonds was $311000.

The bonds were carrying a discount. Thus, the carrying value of bonds was

Carrying value = Face value - Discount

Carrying value = 311000 - 11000 = $300000

Bonds with a carrying value of $300000 were redeemed at 105% of the face value. The cash paid for redemption is,

Cash paid = 311000 * 105% = 326550

Thus, there was a loss on redemption of = 326550 - 300000 = $26550

Issuance of Bonds Payable

The bonds were issued at 101% of the face value which means they were issued at a premium.

The amount of premium on these bonds is,

Premium = Carrying value - Face value

Premium = 311000 * 101% - 311000

Premium = $3110

3 0

3 years ago