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
scZoUnD [109]
3 years ago
14

Abed carries an average monthly balance of $800 in his checking account. If his bank charges $9.00 per month as a minimum servic

e fee, how much in annual interest must Abed earn to cover the monthly fee?
Business
1 answer:
Ray Of Light [21]3 years ago
7 0

Answer:

Abed must earn 13.5% or $108 annual interest to cover the monthly fee.

Explanation:

Abed should earn minimum $9 of interest on deposit each month to cover the  bank charges expense.

Average Monthly Balance = $800

Bank Charges = $9.00 per month

Monthly interest rate = (Monthly bank charges / Monthly average balance ) x 100

Monthly interest rate = ( $9.00 / $800 ) x 100 = 0.01125 x 100 = 1.125%

Annual Interest rate = 0.01125 x 12 = 0.135 = 13.5%

Annual Interest = $800 x 13.5% = $108

You might be interested in
Identify and describe the three steps that the team should follow in order to define project scope and create a project scope st
kirill115 [55]

Answer:  Define Project Needs, Understand the Project Objectives, Define the Project Scope

Explanation: Project Scope is defined as the work that needs to be accomplished to deliver a product, service, or result with the specified features and functions.

The scope of the project should have a tangible objective for the organization that is undertaking the project

There are 3 main steps of project scope and they are:

1. Define Project Needs

2. Understand the Project Objectives

3. Define the Project Scope

Scope statement are the documentation of the scope of the project will explain the boundaries of the project, establish the responsibilities of each member of the team and set up procedures for how the work that is completed will be verified and approved.

6 0
3 years ago
Which one of the following items would you be most likely to keep in a database ?
ser-zykov [4K]
Payroll records would most likely to keep in a database. It keeps it more safer for the future use.
7 0
3 years ago
Read 2 more answers
So I want to say that I want to be a police or an FBI but also want to be a business woman what do I do or what do I need to kno
tangare [24]
If u are good at communicating and u are good at making decisions be a businesswomen. if ur good in history and u do a sport and can be alert be a police officer. follow ur gut don’t feel pressured and than regret taking it. remember people still don’t know their major in college so don’t rush.
6 0
3 years ago
Department Y started 675 units during the accounting period. They had a beginning balance in goods in process inventory of 225 u
Gnoma [55]

Answer:

a. 750

Explanation:

units completed and transferred out = beginning work in process + units started - ending work in progress = 225 units + 675 units - 150 units = 750 units

The number of units completed and transferred out refer to the total number of finished units during a certain period and their cost is referred to as cost of goods manufactured.

4 0
3 years ago
4.
JulsSmile [24]

Answer:

Managing your money behavior

Explanation:

Personal finance is the management of individual financial activities of generating income and expenditure. It involves the process of setting personal financial goals and making plans on how to achieve them. Personal finance entails developing personal budgets, savings and investment plans to achieve short term and long term financial goals.

Individuals may need to hire personal finance managers to help them manage their finances. The role of the personal-finance manager is to advise and help in the making and implementation of financial goals. Personal finance involves managing money behavior to achieve the desired results.

4 0
4 years ago
Other questions:
  • Which phrase best describes a function
    7·1 answer
  • According to the Crash Course video on the Industrial Economy, in which of the following ways did the US Civil War spur rapid in
    8·1 answer
  • You purchased an annual-interest coupon bond one year ago with six years remaining to maturity at the time of purchase. The coup
    9·1 answer
  • Joseph is instructed by his employer, Helen, to go to the local donut shop during his lunch break and purchase six-dozen donuts
    5·1 answer
  • Barney, a manager, is very conventional, resistant to change, habitual, and does not accept new ideas very easily.This implies t
    9·1 answer
  • Chuck has AGI of $70,000 and has made the following payments State income tax $1,900 Federal income tax $7,100 Social Security t
    8·1 answer
  • Will Mark as Brainliest!!! +40 extra points Spending money on medical expenses is part of this expenditures approach for calcula
    12·1 answer
  • Question 27 (2 points)
    10·1 answer
  • The investment and capital spending boom of the late 1990s most likely resulted in a(n):_______
    5·1 answer
  • A customer submits a written complaint disputing monetary charges assessed against an account held at a member broker-dealer. re
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!