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snow_tiger [21]
3 years ago
10

When you open a savings account, how much money do you need for the initial deposit? A: Usually, the minimum deposit is low or n

one at all. B: No minimum deposit is required.
Business
2 answers:
const2013 [10]3 years ago
8 0
I would choose A, it all depends where you open a savings account
grin007 [14]3 years ago
4 0
A would be the answer since Banks would usually have a required minimum amount of money that you must deposit into your new savings account so that it can be operational and earn interest as well. The interest earned on the deposit in your savings account will depend on the location of the bank, e.g. is the bank in USA or Canada, as USA may have a different interest rate than Canada. The minimum amount you have to deposit will be determined most likely by your respective bank, e.g. Bank of America may have a different initial deposit requirement than CHASE Bank.
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You are planning your retirement in 10 years. You currently have $169,000 in a bond account and $609,000 in a stock account. You
Over [174]

Answer:

$187,584.20

Explanation:

Firstly, we need to calculate the total future value (FV) of the bond account and stock account after 10 year from now (when you come to retirement age):

FV_bond at retirement = 169,000 x (1 + 7.25%)^10 + 7,100 x (1 + 7.25%)^9 + 7,100 x (1 + 7.25%)^8 + … 7,100 x (1 + 7.25%)^0 = 426,230.93

FV_stock at retirement = 609,000 x (1 + 10.75%)^10 = 1,690,653.63

Total FV of your investment portfolio = 2,116,884.57

Because you plan to use up all the funds in your account after 21 equal amount withdrawals after retirement, total present value <em>(at the time you retire not now)</em> of these withdrawals <em>(discounted at 6.5%)</em> have to be equal to the value of your invesment 10 years from now, or:

2,116,884.57 = C/(1+6.5%) + C/(1+6.5%)^2 + … + C/(1+6.5%)^21, with C is the amount you plan to withdraw each year.

Solve the equation we get C = 187,584.20

<em>Note: The equation can be solved easily using Excel or BAII Plus.</em><em> </em>

5 0
3 years ago
A study of an association between which ear is used for cell phone calls and whether the subject is​ left-handed or​ right-hande
Mandarinka [93]

Answer:

14.34%

Explanation:

To find the percentage of returned surveys over the total we divide and then multiply:

(717/5000)*100= 14.34%

The response rate appears to be low because it is less than 50% (which would be 2500 return surveys). Some statistical studies agree that 30 is the minimum number of observations a study must have, but this number does not ensure statistically significant results.  

The problem with a very low response rate is that survey´s answers does not significant represent the study population characteristics and so we cannot make inferences, correlations or regressions that are statistically significant. In this case, the conclusions that scientists make about association between the left-handed population and right-handed population with the use of cell phone calls could be wrong or not represent the population characteristics, which means answers are not trustful.  

8 0
3 years ago
Bernard is a trainee accountant. His manager asked him to record a loss on the sale of machinery in the business’s temporary acc
Agata [3.3K]

Answer:

Gain and loss accounts

Explanation:

Gain and loss accounts are a form of temporary accounts that are utilized to gather combined sales and purchases that has an effect on the profit or loss of business activities over a given period, which is typically in a year. For example, the loss on property sold account.

Hence, in this situation, the correct answer to the question is known to be a GAIN and LOSS ACCOUNT.

6 0
3 years ago
Bonds that have interest coupons attached to their certificates, which the bondholders present to a bank or broker for collectio
kiruha [24]
<span>The bond is a written promise to pay the bond's par value and interest at a stated contract rate. </span><span>Bonds that have interest coupons attached to their certificates, which the bondholders present to a bank or broker for collection, are called coupon bonds. 
</span><span>Bondholders detach coupons when they mature and present them to a bank or broker for collection.
</span>
3 0
2 years ago
If you were a career woman and time for you to love to do becomes a problem,which would you prefer to use of your baking needs—
Alina [70]

Answer:

Just Choose an side.

Explanation:

Would you rather use a store-bought mix, or a homemade mix? (Just choose one).

For homemade: I chose this because I would like to try something new and make different flavors, if it is a success.

For store-bought: I chose this because I want it to be easy for me to make, and has all the steps on the back of the box.

3 0
3 years ago
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