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
KATRIN_1 [288]
3 years ago
6

First National Bank charges 14.1 percent compounded monthly on its business loans. First United Bank charges 14.4 percent compou

nded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) EAR First National % First United %
Business
1 answer:
mezya [45]3 years ago
3 0

Answer:

For First National Bank = 15.05%

For first United bank = 14.92%

Explanation:

The computation of EAR for First National Bank and First United Bank is shown below:-

Effective annual rate EAR = (( 1 + i ÷ n)^n) - 1

as

I indicates the annual interest rate

n indicates the number of the compounding period

For First National Bank

Annual interest rate i = 14.1%

Effective annual rate EAR is

= ((1 + 0.141 ÷ 12)^12) - 1

= 1.1505 - 1

= 0.1505

or

= 15.05%

For first United bank

Effective annual rate EAR is

= (( 1+ 0.144 ÷ 2)^2) - 1

= 1.1492 -1

= 0.1492

or

= 14.92%

You might be interested in
What is most likely to cause a rise in expenditure in an economy?
d1i1m1o1n [39]

Answer:

B

Explanation:

because b i think gimme vbucks

3 0
3 years ago
The core goal of business is to generate long term _____________ by delivering ____________ to their customers.
Degger [83]
The core goal of business is to generate long term relationships by delivering quality products to their customers.
3 0
3 years ago
In order to compute equivalent units of production using the FIFO method of process costing, work for the period must be broken
Artist 52 [7]

Answer:

The correct option here is C) units in the beginning work in progress period which were completed , units which were started and completed, and units in ending work in progress.

Explanation:

FIFO ( First in first out ) method is used to take out the cost per unit when doing process costing, in this method it is assumed that the inventory which were not finished during the beginning of period would be first completed and then new shall be started.

To take out the equivalent cost per unit under the FIFO method we will add the units which were completed in the beginning plus units which were started and completed during the period and plus the units which are left in ending work in progress.

5 0
3 years ago
Why is communication believed to be the foundation of covenantal relationships?
dalvyx [7]
<span>Communication is believed to be the foundation of covenantal relationships because it is the only way to share our ideas and our feelings with one another. In a relationship, two people work together to make the other better. Through difficult times and accomplishments the couple grows together and the goal is to make the other person a better version of themselves. Communication allows the couple to explore these moments fully so that they can each be understood and have the opportunity to understand.</span>
3 0
3 years ago
Compliance is the responsibility of the Compliance Officer, Compliance Committee, and Upper Management only.
Anna71 [15]

Compliance is not the sole responsibility of compliance officer or the upper management or the compliance committee. Compliance is the responsibility of all individuals of the company.

<h3>What is Compliance?</h3>

Compliance is the act of ensuring that all the protocols mentioned in the policy are followed effectively, all the controls are in process and in working condition with complete effectiveness.

It is the duty of all the individuals to comply with the policies and ensure that the procedures are performed as per the standard operating guidelines. The compliance is not only the duty for the compliance individuals.

It is duty for all the individuals however those charged with governance are more likely to take actions against any procedure failure, but if there is any mishap and if there is a miss in the procedures being not correctly performed, it should be reported.  

Learn more about Compliance at brainly.com/question/27046365

#SPJ1

6 0
2 years ago
Other questions:
  • A share of common stock just paid a dividend of $1.00. If the expected long-run growth rate for this stock is 5.4%, and if inves
    10·1 answer
  • Grouping workers according to their similar skills, resource use, and expertise is called a _______ structure.
    15·1 answer
  • A risk management assessment is a systematic and methodical evaluation of the security posture of the enterprise.
    9·1 answer
  • Suppose a wet and sunny year increases the nation's sweetcorn crop by 20%. How will this affect the market for frozen peas,a sub
    13·1 answer
  • Which of these statements best represents the law of demand? when buyers' tastes for a good increase, they purchase more of the
    13·1 answer
  • On December 15, 2013, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the i
    13·1 answer
  • Real estate agents promoting a new recreational development offer a free breakfast and the opportunity to win a trip to hawaii f
    6·1 answer
  • What are some facts about fishing? ​
    15·2 answers
  • Daniel and Melissa just bought a new house for $200,000. Each quarter, they now have to pay $4,000 in taxes. Which type of tax a
    7·2 answers
  • if the insured must rent a car because his was stolen, what is the maximum dollar amount of coverage available under the commerc
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!