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faltersainse [42]
3 years ago
7

The best way to achieve significant increases in interest accrual in a savings account is through

Business
1 answer:
loris [4]3 years ago
6 0
Compounding. If you compound your interest, then your interest rate will go up, and you get more interest.
You might be interested in
At the time of Elise’s 20 year high school reunion she was earning $50,000 and the CPI was 80. Now that it is time for her to at
babunello [35]

Answer:

Her real income has decrease by  $7,333.33

Explanation:

<em>Real income is the amount of goods and services that a give amount of quantity money can purchase. It is also known as the purchasing power of money.  </em>

To determine if there has been a change in her real income, we will compare her real income 20 years ago to her real income 5 years later. This will be done as follows;

Step 1

Determine her real income 5 years after her last reunion

Real income in current year = (CPI in base year/CPI in current year ) × Nominal income

                     = (80/150)× 80,000

                    =   $42,666.67

Step 2

Determine change in real income

Her real income has decrease by  $7,333.33. This is difference between her real income 5 years ago and now. That is $50,000 -  $42,666.67.

Tis implies she cannot purchase as much as she could 5 years ago because of inflation.

3 0
3 years ago
Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers
yanalaym [24]

Answer:

The answer is "12.7"

Explanation:

In the question the correct choice is missing so, its correct solution can be defined as follows:

Following are the formula for calculating the "Average Inventory":

Formula:

\therefore \text{Inventory Turnover} =  \frac{ \text{Cost of Goods Sold}} { \text{Average Inventory}}\\\\\\\because  \text{Average Inventory} = \frac{ \text{Cost of Goods Sold}} {\text{Inventory Turnover}}

                                 =\frac{\$ \ 77}{ 6.05}\\\\=12.7\\

7 0
2 years ago
Sheffield’s Manufacturing Company can make 100 units of a necessary component part with the following costs: Direct Materials $1
larisa [96]

Answer:

Company Save  $37000 by Buying

Explanation:

given data

make component part = 100 units

Direct Materials = $122000

Direct Labor = 34000

Variable Overhead = 55000

Fixed Overhead = 30000

purchase the component = $200000

fixed costs = $4000

to find out

make or buy decision

solution

first we find here Total Cost for Making component part

total cost = Direct Materials + Direct Labor + Variable Overhead + Fixed Overhead ..............1

put here value

total cost for make =  $122000 + 34000  + 55000 + 30000

total cost for make = $241000

and

now we find here Total Cost for buying component part

total cost = Purchase Price + fixed costs   ............2

put here value we get

total cost for buying = $200000 +  $4000

total cost for buying  = $204000

so

we can say Company Save =  $241000 -  $204000   = $37000 by Buying

5 0
3 years ago
Money is a "medium of exchange," meaning
inna [77]

Answer:

C is the correct answer to this question.

7 0
3 years ago
On September 1, Year 1 Western Company loaned $36,000 cash to Eastern Company. The one-year note carried a 5% rate of interest.
alukav5142 [94]

Answer:

Option (C) is correct.

Explanation:

Given that,

Cash amount loaned = $36,000

Rate of interest on note = 5%

Time period: From September 1, Year 1 to December 31, Year 1 = 4 months

Amount of Interest revenue:

= Cash amount loaned × Interest rate × Time period

= $36,000 × 0.05 × (4/12)

= $36,000 × 0.05 × (1/3)

= $599.9 or $600

There is no cash flow from operating activity in respect of loan given to another company and interest revenue accrued on loan amount.

8 0
2 years ago
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