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sweet-ann [11.9K]
2 years ago
5

If you take out money from a CD before it reaches maturity you must A) pay the bank a penalty, typically three months' interest.

B) forget it. You cannot withdraw yany money until a CD matures. C) pay both the bank and IRS a penalty of three months' interest. D) pay the IRS a penalty, typically 10 percent of the account's value.
Business
2 answers:
kolezko [41]2 years ago
6 0

Answer:

A) pay the bank a penalty, typically three months' interest.

Explanation:

Most commercial banks and credit unions charge a premature withdrawal fee to individuals that cash out a CD before its maturity date. Generally the withdrawal fee equals 3 months worth of interest, but this is not a fixed rule, some banks may charge a lower fee or others a higher one.

For example, I have a CD in a commercial bank, and if I withdraw the money early (at least after 1 month of making the CD) it will not pay me any interest at all.

balu736 [363]2 years ago
3 0

Answer:

A

Explanation:

pay the bank a penalty, typically three months' interest.

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Johnny is a sophomore in college and has a 1.5 cumulative grade point average (GPA). Johnny's cumulative GPA will fall even furt
Debora [2.8K]

Answer: B

Explanation:

With the options given, Johnny can only perform worse if he performs worse than his cumulative GPA and also if he performed less than he ever performed before. The last option about Johnny's performing worse than last semester might not necessarily have an effect on his GPA. A cumulative GPA is the total GPA Johnny has gotten since he started school. The last semester might be one of his best semesters and probably had a good result so getting a result slightly lower than his last semester might not necessarily mean there will be a reduction in his cumulative GPA. So option B is correct.

6 0
3 years ago
Why are capital appreciation bonds (CABs) a controversial way for local governments to finance projects?
denis-greek [22]

Answer:

See explanation section

Explanation:

Municipal security from which an investor will receive a return on investment from an initial principal is called a capital appreciation bond. However, in this security, the return on investment will be reinvested further until the security matures at a specific rate. The primary purpose of the CABs is to permit the local authority to generate revenue. Due to the financing in the innovative project without increasing the tax is one of the controversial ways for local governments to finance projects. Another controversial way is to owe investors more than what they acquired.

8 0
3 years ago
Indicate whether each scenario will affect the GDP deflator or the CPI for the United States. Check all that apply. Scenario Sho
Softa [21]

Answer:

(A) it will affect the GDP Deflator.

(B) it will affect both the GDP deflator and the CPI

Explanation:

(A) The increase in prices of imports increase real GDP and also the GDP deflator as now the US will purchase less of these cars from china and therefore there will be less imports of this car from china, people will prefer buying local inexpensive cars which will in turn increase the GDP even more than before so therefore this scenario only affects the GDP deflator only as the formula for real GDP is the sum of consumption spending, government spending,government saving( investment) and (exports minus imports) so the less imports we get the more real GDP we get in the US economy.

(B) This will affect both GDP deflator and CPI because firstly this will touch on the exports which will increase and bring in more revenue for the US therefore increasing real GDP because the prices of the fishing product has decreased which will cause the US economy to increase. it will also affect the CPI because now prices of this product have fell therefore the CPI is also going to fall probably causing a deflation.

5 0
3 years ago
Which budget or budget type should be used to meet the following​ needs? a. Upper management is planning for the next five years
Simora [160]

Answer:

a. A Strategic budget will be used by the upper management in planning for the next five years.

b. A flexible budget will be used by a store manager who wants to plan for different levels of sales.

c. A Cash budget will be used by an accountant who wants to determine whether the company has sufficient funds to cover expenses.

a. A Master Budget will be used by a CEO who wants to make companywide plans for the next year.

Explanation:

  • Strategic budget, is finnancial planing to achieve the long term goals of the company.
  • flexible budget is used for different level of sales volume.
  • Cash budget usted for forescast the cash balance.
  • Master Budget uses a schedule to present financial statements.

4 0
3 years ago
On March 1, 2020, the Teal Company received a $45,000 payment for annual magazine subscriptions (the subscriptions run from the
bulgar [2K]

Answer:

The company has incorrectly credited the sales revenue account at the time of the receipt of payment. So, the  journal entry to record the transaction is as follows:

Date               Particulars                            Debit          Credit

March 1, 20    Sales Revenue A/c           $45,000

                             To Unearned Sales Revenue A/c   $45,000

                       (To record Unearned sales revenue)

5 0
3 years ago
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