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netineya [11]
3 years ago
6

Definition: This type of investment account has a specific fixed term/length, fixed interest rate, is insured

Business
1 answer:
Natali5045456 [20]3 years ago
8 0

Answer:

The answer is Certificate Of Deposit.

Explanation:

A certificate of deposit (CD) refers to a product which is usually offered by banks and credit unions and which provides an interest rate premium based on the condition that the customer agrees to leave a lump-sum deposit untouched for a particular length of time.

Almost all consumer financial institutions offer certificates of deposit, but each bank can set its own peculiar certificate of deposit terms and conditions.

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First Bank offers personal loans at 7.7 percent compounded monthly. Second Bank offers similar loans at 7.4percent compounded da
Korolek [52]

Answer:

The First Bank loan has an effective rate of 7.98 percent.

Explanation:

we calcualte the effective rate for both loand and check which statement is correct.

<u>First bank:</u>

(1+\frac{0.077}{12} )^{12} = 1 + r_e

(1+\frac{0.077}{12} )^{12} - 1 = r_e

     1.07977643  - 1 = 0.07977 = 7.98%

<u>Second bank:</u>

(1+\frac{0.074}{365} )^{365} = 1 + r_e

(1+\frac{0.077}{365} )^{365} - 1 = r_e

     1.076798729   - 1 = 0.076798729  = 7.68%

Notice tthis isthe effective rate not the annual percentage rate.

So only the statement abour the first bank effectibe rate is true.

7 0
4 years ago
In a macroeconomic context, choose the best definition for the term velocity. The rate at which the aggregate price level increa
N76 [4]

Answer:

The rate at which money circulates through an economy.

Explanation:

In Macroeconomics, the term velocity refers to the speed at which money circulates in an economy, and it is a variable in a fundamental macroeconomic equation, the quantity theory of money equation:

M x V = P x T

Which states that the price of goods and services is equal to the amount of money in an economy, or its money supply (M) multiplied by the Velocity of circulation of money, which is in turn equal to price (P) multiplied by the number of transactions (T).

7 0
3 years ago
Is Informative listening a type of casual listening
Vlada [557]

Answer:

Yes.

Explanation:

<em>You are listening to gather intel on a particular individual or set of individuals.</em>

4 0
3 years ago
Rough Hewn Lumber Company orally contracts with Joe for the purchase of five acres of Joe's timberland. Joe makes the transfer b
Reptile [31]

Answer:

b. quasi contract

Explanation:

-Liquidated damages refers to a mechanism in a contract in which a party can request a compensation because of breach.

-Quasi contract is  an agreement that is recognised by a court when there is no written contract between two parties and there is a conflict about a payment of a product or service.

-Reformation is a change made by a court in a document when one party that participates in it makes a request.

-Restitution is when someone receives a compensation for a loss or an injury.

According to the options given and the definitions, the answer is quasi contract.

7 0
3 years ago
We know that the longer a person saves, the more time their savings have to compound and grow. Given that fact, why do you think
vivado [14]

Answer:

The illusion of time

Explanation:

This is because younger people think that they have time to save up later; that if they spend now, they can always make up for it later. On the other hand, older people know that they don't have much time (comparatively) to save money as they did before, so saving money becomes a bigger deal for them.

5 0
3 years ago
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