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Arte-miy333 [17]
3 years ago
8

A variety of different savings products are offered by financial institutions. Two of the most frequently sold savings investmen

ts are statement (or passbook) savings accounts and certificates of deposit (CDs). How do they differ? Read the following statements and classify each as to whether it applies to a statement savings account, a certificate of deposit, or both.
Certificate of Deposit Statement Savings Account
Statement
1. The interest rate can be either fixed or variable over the life of the account.
2. The account has no fixed maturity or end; if you maintain the minimum required balance in the account and the institution does not cease doing business, the account could earn interest over your entire lifetime.
3. The account often earns a higher interest rate than the rate earned on NOW and share draft accounts.
4. If you withdraw your funds prior to the account's specified maturity, it is possible to end up with less money than you originally deposited.
5. The account offers you greater flexibility with regard to the frequency and number of deposits and withdrawals.
Business
1 answer:
umka2103 [35]3 years ago
8 0

Answer:

A statement savings account can be drawn upon any time the customer requires cash (on demand).  The customer can also deposit cash into the account at any time.  The interest rate payable on the deposits is not fixed but fluctuates.  A statement savings account is opened for a life-time and there is no fixed time for the deposits to stay.

The duration for which the Certificates of Deposit will be saved is fixed.  A customer is not freely allowed to withdraw and deposit into the account. The customer withdraws at maturity.  The interest rate is fixed and cannot be altered.

1. Both

2. Statement Savings Account

3. Certificate of Deposit

4. Certificate of Deposit

5. Statement Savings Account

Explanation:

A statement (or passbook) savings account is an ordinary savings account opened in a bank for depositing and withdrawing money regularly as needed by the customer.  

A Certificate of Deposit (CD) is a fixed-term duration savings account, which is opened in a bank to enable the customer deposit some fixed amount that will not be withdrawn regularly by the customer until the maturity date.   CDs are called time deposits because of the fixed time the deposits must stay.

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Networking is a key benefit to a college education.which of the following is not an example of a networking benefit
Rufina [12.5K]

Answer:

D. Networking ensures higher-paying jobs.

Explanation:

Networking is the act of interacting and sharing information between a group of people with common interests in various settings, such as the work environment, schools, and other social gatherings. When students attend the same school, they share common interests and goals. Networking among them would pave way for possible help in the future with regards to finding a job. But it would be wrong to assume that networking would be a guarantee for higher-paying jobs.

Networking would also help graduates from college to interact with people who have progressed farther in their career than they have. So, they can learn from their wealth of experience.

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3 years ago
Ernest Burns, Orlando summemour, and randy Hatcher formed swi Partners, a general partner- ship. J. t. turner Construction Compa
SpyIntel [72]

Answer:

Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE

Explanation:

What is Partnership

Partnership is a form of business, where individuals come together to carry on business with the primary intention of making profit. Mostly, they come together by contributing capital and expertise to make the business work . Every partner is however liable and responsible for both the profit made and the losses or liabilities of the partnership.

Although the general partner has unlimited liability, every partner is however jointly and severely liable for the business

Were Summemour and Hatcher Liable?

This case is referred in the J.T. Turner Construction Company v. Summerour and Hatcher(2009). The court this case declared that both Hatcher and Summemour were jointly and severally liable as a result of the following reasons.

A partner becomes liable especially for a prior judgment based on the following

1. The partnership has proven indebtedness

2. A general partner in the partnership was sued to court

Based on these, Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE

6 0
3 years ago
You are comparing two annuities with equal present values. The applicable discount rate is 6.5 percent. One annuity will pay $2,
MAVERICK [17]

Answer:

the annual payment for the second annuity is $2,130 paid at end of every year

Explanation:

We have following information for 1st annuity:

Rate: 6.5%

Payment (PMT): -$2,000, paid at beginning of every year

Tenor (Nper): 20 years

We use excel to calculate the present value of annuity = PV(rate,Nper,PMT,,1)

=PV(6.5%,20,-2000,,1) = $23,469

Then we calculate the payment for 2nd annuity = PMT(rate,Nper,PV,,0)

=PMT(6.5%,20,23469,,0) = -$2,130

Download xlsx
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3 years ago
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Answer:

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A Multibranding strategy can lead to a great loss if it is not properly handled by the management of the organisation.

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