1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
liubo4ka [24]
3 years ago
8

Charter bank pays a 5.00% nominal rate on deposits, with monthly compounding. what effective annual rate (eff%) does the bank pa

y?
Business
1 answer:
mel-nik [20]3 years ago
6 0

In order to compute for the effective annual rate, the working equation would be [( 1 + i/n)^n] – 1.   The i corresponds to the nominal rate while n is the number of compounding periods per year which in this case is 12. The answer would be 5.116%.  

You might be interested in
Which statement is true of an adjustable rate mortgage?
DerKrebs [107]
The answer is B. Adjustable rate mortgage is a mortgage loan where the interest rate stays for for a certain period of time then it changes either up or down based on an index. It is also called variable-rate mortgage or tracker mortgage. This type of mortgage loan permits a debtor to have a lower initial payment if and only if they agree to assume the risk of the changes in the interest rate.<span>
</span>
3 0
3 years ago
Bramble Corp. sells MP3 players for $60 each. Variable costs are $30 per unit, and fixed costs total $120000. How many MP3 playe
VMariaS [17]

Answer:

Break-even point in units=  14,000 units

Explanation:

Giving the following information:

Selling price= $60

Variable costs are $30 per unit

Fixed costs total $120,000.

Desired profit= $300,000

<u>To calculate the number of units to be sold, we need to use the following formula:</u>

Break-even point in units= (fixed costs + desired profit)/ contribution margin per unit

Break-even point in units= (120,000 + 300,000) / 30

Break-even point in units=  14,000 units

3 0
3 years ago
Your german friend has decided to come and visit you in the u.s. you estimate the cost of her trip at $2,200. what is the cost t
joja [24]
2200 times 1.2452
2739.44 euros
4 0
3 years ago
What does the preamble to the Constitution envision?
OleMash [197]
"
<span><span>We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States"
</span>The preamble explains the reasons why the Framers of the Constitution made our government a republic. By doing this, the founding fathers replaced the Articles of Confederation. They had envisioned the United States as a perfect union

</span>
7 0
3 years ago
Read 2 more answers
Supplies that are not used immediately are recorded as a(n) ______ when purchased.
Shkiper50 [21]

Supplies that are not used immediately are recorded as an asset when purchased. Supplies are various items belonging to the company that have consumable properties, or can be used many times. In general, various items that are included in the equipment or supplies have a shape that tends to be smaller and has the aim of completing the company's needs.

Supplies are divided into two things, which is:

1. Office supplies or office supplies are various items that are needed to carry out various office activities, such as paper, pens, pencils, erasers, rulers, pencil sharpeners and various other stationery.

2. Factory equipment or factory supplies are various items needed to carry out activities in the factory. A simple example is a variety of equipment to be able to maintain and clean production machinery equipment.

#SPJ4

6 0
1 year ago
Other questions:
  • Antiques ‘r' us is a mature manufacturing firm. the company just paid a dividend of $12.30, but management expects to reduce the
    10·1 answer
  • On an aggregate demand and aggregate supply graph, the stagflation of the 1970s can be represented as a
    7·1 answer
  • Which of the following is an entrepreneur?
    15·1 answer
  • In a 1998 episode of The Simpsons, mogul Monty Burns and Homer Simpson try to buy protec u s. tax evasion and a small island in
    14·1 answer
  • SPINX, INC. Statement of Earnings For the Year Ended December 31, CURRENT YEAR Net sales $ 4,395,253 Costs and expenses: Cost of
    9·1 answer
  • As part of the efforts to bring down the employee benefits cost to the company, GrindStop Corp. restricts the number of visits t
    12·1 answer
  • A company exchanged land and cash of $4,500 for similar land. The book value and the fair value of the land were $89,800 and $10
    14·1 answer
  • Liam works at an IT firm. He finds that the activities carried out by his team are very complex and struggles to complete his ta
    14·1 answer
  • All entrepreneurs recognize there's a risk of ________ even when they use all available information to make decisions
    7·1 answer
  • Name four equipment that can be used in preparing a bill
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!