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Rufina [12.5K]
2 years ago
15

If I'd like to take 1000 and put it into a savings account for a long period of time in the hopes of earning a higher interest r

ate and making my money grow, which type of account should I choose?
Business
1 answer:
nevsk [136]2 years ago
8 0

Answer:

Fixed Deposit Account

Explanation:

Commercial Banks perform this crucial role of accepting deposits & advancing loans.

3 Types of Deposits :

Current Account - Used by businesses, has liberal depositing & withdrawal rules for payments & receipts, negligible interest by bank (rather bank charges for their service).

Savings Account - Used by households, for normal savings, has deposit & withdrawal rules less free than current account, moderate interest rate by bank.

Fixed Deposit Account - Used for Long Term savings, strict withdrawal rules before maturity (interest lost if withdrawn), high interest rate & money growth.

So, If need is to save money foe long period & letting it grow meanwhile, Fixed Deposit Account is a suitable Account.

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Money Bank has $500 million dollars in deposits and has 12 percent reserve ratio, how much can Money Bank lend
bixtya [17]

Answer:

Money Bank can lend up to $4,167 million.

Explanation:

a) Data and Calculations:

Total deposits = $500 million

Reserve ratio = 12%

Money created by Money Bank = $500/12% = $4,166,666,667

b) The total amount of money which Money Bank can create and lend is dependent on its customers' deposits and the reserve ratio.  This amount can be calculated by dividing the total deposits by the reserve ratio.  This implies that the less the reserve ratio, the more money Money Bank can create and lend out to customers.

6 0
2 years ago
An overall measure of the combined efficiency and effectiveness of an organization
Mars2501 [29]
It is an Organizational management
5 0
3 years ago
From 1973 to 1986, growth in the United States economy was over 33 percent, while the percent growth in United States energy con
Ierofanga [76]

Answer: D

Explanation:

We are given a comparison between 'economic growth' and 'growth energy consumption' and told that the first increased and the second did not. We are also told that a certain amount of oil is being saved by energy improvements. As it is difficult to infer a likely answer in 'must or could be true' type questions, we'll go over all of the options, the Alternative approach.

A. We have no information on the relative ease of finding new sources of oil. No

B. We have no information on how to reduce oil imports. No

C. We have no information on what caused energy consumption to remain steady. No

D. This is exactly what happened so is true. This is almost certainly our answer, let's go over (Correct )

E. We have no information on the link between development of energy sources and growth. No

(D) is our answer; note that all other answers explicitly added information not in the original passage. This is what you need to watch out for in these types of questions.

7 0
2 years ago
When there is a technological advance in the ice cream industry, consumer surplus in that market will?
Nina [5.8K]

When there is a technological advance in the ice cream industry, consumer surplus in that market will increase.

Technology is the result of accumulated knowledge and the application of skills, methods, and processes used in industrial production and scientific research. Technology is embedded in the operation of all mechanical and electronic devices, with or without detailed knowledge of their function, for the intended purpose of an organization. The technology of society consists of so-called systems. A system works by taking input, modifying that input through what is called a process, and producing a result that achieves the intended purpose of the system.

The earliest and simplest form of technology is the development of knowledge leading to the application of basic tools. The prehistoric invention of carved stone tools and the discovery of ways to control fire increased the food sources available to humans. This led to mobile technologies that helped exchange information and raw materials more quickly. Humanity then proceeded to develop the printing press, telephones, computers, and the Internet.

Learn more about technology here: brainly.com/question/25110079

#SPJ4

6 0
1 year ago
When creating text ads to advertise a client's small chain of italian restaurants, what should you include in the ad text to mak
Brut [27]
When creating advertisement for an Italian restaurant, you should include information about Italian food in the  description. This will serve to arouse the interest of the reader and compel them to patronize the restaurant.  
4 0
3 years ago
Read 2 more answers
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