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julia-pushkina [17]
3 years ago
10

Southwestern Bank offers to lend you $50,000 at a nominal rate of 6.5%, compounded monthly. The loan (principal plus interest) m

ust be repaid at the end of the year. Woodburn Bank also offers to lend you the $50,000, but it will charge an annual rate of 7.0%, with no interest due until the end of the year. How much higher or lower is the effective annual rate charged by Woodburn versus the rate charged by Southwestern
Business
1 answer:
Mandarinka [93]3 years ago
7 0

Answer:

0.03%

Explanation:

Southwestern Bank

The Effective annual interest rate of Southwestern bank compounded monthly would be

First step

Calculation for the Effective annual rate of Riverside Bank:

rR = (1 + (0.065/12))^12 = 1.067

Second step

Calculation for the Effective annual rate of Midwest Bank:

rM = (1 + (0.07/1))^1 = 1.07

The effective annual rate of Midwest Bank is higher by :

(1.07 -1.067)

=0.003 % or 0.3%

Therefore the higher or lower is the effective annual rate charged by Woodburn versus the rate charged by Southwestern would be 0.03%

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The mean width of 12 iPads is 13 cm. The mean width of 8 Kindles is 12 cm. 2 pts
MissTica

Answer:

see below

Explanation:

Mean is the average of a set of data or numbers. if the mean is 13, it implies that on average, the width of one iPad is 13cm.

a). Width of 12 iPads is 13cm.

Total width will be 12 x 13

= 156 cm

b). Total width of candles

mean of 8 candles is 12 cm

total width = 8 x 12

=96 cm

c).  mean of iPads and candles

=width of iPads + width of candles divided by total of candles and iPads

= (156cm + 96cm) / (12 + 8)

=252 /20

=12.6 cm

7 0
3 years ago
Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares. select the corre
Roman55 [17]

Answer:

The classified list of items is as follows:

(a) Issuance of ownership shares - Common stock

(b) Land purchased - Asset

(c) Amounts owed to suppliers - Liability

(d) Bonds payable - Liability

(e) Amount earned from selling a product - Revenue

(f) Cost of advertising - Expense

Hence, all the items are classified as asset, liability, revenue, common stock and expense.

8 0
3 years ago
isabella takes $100 of currency from her wallet and deposits it into her checking account. if the bank adds the entire $100 to r
Tresset [83]
Isabella takes $100 of currency from her wallet and deposits it into her checking account. If the banks add the entire $100 to reserves, the money supply increases, but if the bank lends out some of the $100, the money supply decreases.
3 0
2 years ago
A company is obligated to pay its creditors $6,100 at the end of the year. If the value of the company's assets equals $5,800 at
Korvikt [17]

Answer:

The value of shareholders' equity is -$300

Explanation:

Shareholders' equity is the corporation's owners' residual claim on assets after debts have been paid.

Total assets= Total liability + shareholders' equity

Shareholders' equity = Total assets - Total liability

Shareholders' equity = $5,800 - $6,100

Shareholders' equity = -$300

6 0
3 years ago
The key to success for big and small businesses alike is
garri49 [273]

Answer:

acountability, kill bureaucracy before it starts - more functions, fewer departments, more “teams,” fewer committees, open lines of communication, the customer is everybody’s responsibility, never stop “re-inventing” the business.

Explanation:

8 0
3 years ago
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