3 years ago

Which of the following statements is CORRECT?

Business

1 answer:

lakkis [162]3 years ago

4 0

Answer:

e. If a loan has a nominal annual rate of 8%, then the effective rate will never be less than 8%.

Explanation:

As we know that

EAR = (1 + r ÷ n)^n -1

where,

EAR = Effective annual rate

r = interest rate

n = number of years

By applying the above formula we know that the effective annual rate should always be greater than the normal annual rate

Hence, the correct option is e.

Therefore all other options would be wrong

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Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $1,800 in the bank and leave it there: (Do not ro

klasskru [66]

Answer:

A. $54

B. 55.62

C. $70.46

Explanation:

The formula for calculating compound interest is

FV = P (1 + r ) ^n

FV = Future value

P = Present value

R = interest rate

N = number of years

A. $1,800 (1.03) = $1854

Interest rate = $1854 -$1,800 = $54

B. $1,800 (1.03)^2 = $1,909.62

Interest rate = $1,909.62 - $1854 = $55.62

C. $1,800 (1.03)^10 = $2,419.05

To service the interest rate, we have to determine the future value in year 9

$1,800 (1.03)^9 = $2,348.59

Interest rate = $2,419.05 - $2,348.59 = $70.46

I hope my answer helps you

5 0

3 years ago

Both the federal government and the state governments share the power to

salantis [7]

Answer: I think its D

Explanation: because they have the power to to tax, make enforce laws, and charter banks

7 0

3 years ago

A customer owns a convertible subordinated debenture, convertible into common at $25 per share. The bond is currently trading at

Dafna1 [17]

Answer:

c:40:1 OR B:32:1

Explanation:

3 0

3 years ago

Decision makers can help the community recover from an event more quickly by:

maria [59]

Answer: D

Explanation:

The ability to make sound, timely decisions during an emergency is critical. Effective decision making can ,Avoid tragedy ,help manage incidents.

build community trust and support.

help the community recover from an event more quickly. Conversely, poor decision making or the absence of decisions potentially can result in injury or death to victims and/or responders.

4 0

3 years ago

It is unethical to ask employees to work longer hours to get a project completed on time.

dimaraw [331]

No. There are times where some projects are so important that they need to be finished as soon as possible. You have to make sure that employees will be compensated for their work when they do so. Make sure that the company follows proper guidelines in doing overtime.

5 0

2 years ago