Answer:
Chemical Bank
Explanation:
Research shows that in the year 1969, and on the 2nd of September, the first ATM (automated teller machine) of the United States was installed by Chemical Bank. This was done in the Rockville Centre branch of the Bank, in New York. This first ATM machine in the United States, was designed primarily the same way today's ATM machines exist.
To be financially responsible, you can keep track of how much money you spend by keeping a checkbook updated. When doing bills, buying groceries and clothes, and spending money on other activities, you use the recipes to record your spendings in the checkbook. Another way to stay financially responsible is to use a debit card more than a credit. When using a credit card, you're borrowing the Bank's money rather than your own and you have to pay them back. Slowly, that can cause more problems when late fees are added, or worse, your interest rates begin to fluctuate. I hope I helped! :)
Are the sum of a company's profits, after dividendpayments, since the company's inception. They are also called earned surplus, retained capital, or accumulated earnings.
(EXAMPLE):
Let's assume Company XYZ has been around for five years. During this time, it reported the following net income:
Year 1: $10,000
Year 2: $5,000
Year 3: -$5,000
Year 4: $1,000
Year 5: -$3,000
Assuming Company XYZ paid no dividends during this time, XYZ's retained earnings equal the sum of its net profits since inception, or in this case, $8,000. In subsequent years, XYZ's retained earnings will change by the amount of each year's net income, less dividends.
The retained earnings statement summarizes changes in retained earnings for a fiscal period, and total retained earnings appear in the shareholders' equity portion of thebalance sheet. This means that every dollar of retained earnings means another dollar of shareholders' equity ornet worth.
A company's board of directors may apprompany's retained earnings when it want to restrict dividend distributions to shareholders. Appropriations are usually done at the board's discretion, although bondholders and other circumstances may contractually require the board to do so. Appropriations appear as a special account in the retained earnings section. When an appropriation is no longer needed, it is transferred back to retained earnings. Because retained earnings are not cash, a company mayfund appropriations by setting aside cash or marketable securities for the projects indicated in the appropriation.
Why its important
It is important to understand that retained earnings do not represent surplus cash or cash left over after the payment of dividends. Rather, retained earnings demonstrate what a company did with its profits.
$100,000 was allocated by a stockbroker to a portfolio yielding 4% annually compounded. If no withdrawals are taken, there will be $117,352 left in the account after four years.
Given a certain rate of return, present value (PV) is the current value of a future financial asset or stream of cash flows. A discount rate or the interest rate that could be obtained through investment is applied to the future value to get the present value.
According to the continuously compounded interest formula,
FV = PV
Here,
Present Investment Value, or PV
the interest rate, I
T = time in years
So,
In light of the specified
PV = $ 100,000
I = 4% = 0.04
t = 4 years
Hence
FV stands for "Final Investment Value"
Then,
FV = 100,000 * e⁰.⁰⁴ˣ⁴
FV = 100,000*e⁰.¹⁶
FV = 100,000 * 1.173510871
FV = 117351.0871
FV = 117351
Hence
The balance in the account after four years was = $117,352
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Answer:
1) The pretax income of Acme Brush became a US dollar pretax loss because of spot rates and or the exchange rates meaning sales were made when the exchange rate was Less than the exchange rate when the expenses were paid. But the main difference between the two currencies is exchange rates.
2) Cooper Grant should be paid the annual bonus as it is payable to him because Acme Brush of Brazil made a profit and his Bonus is a predetermined percentage of the pretax income.
Explanation: