Answer:
0.2840 or 28.40%
Explanation:
The formula for EAR= (1 + i/n)^n - 1
Where i= stated interest rate
n= number of compounding periods
In this case since the interest he paid is 1 cent, to convert it into percentage, we divide it by the dollar and multiply by 100
Note: 100 cent = 1 dollar
Therefore 4 dollars= 400 cents
To get the Interest rates= 1/400 x 100
= 0.25
n= 365 since we are computing daily
(1 + 0.25/365)^365 - 1
(1 + 0.000685)^365 - 1
(1.000685)^365 - 1
1.2840 - 1
0.2840 or 28.40%.
Answer:
Explanation:
Public service simply refers to the services that are provided by the government. The examples of occupations in the public service sector include:
1. Firefighter
2. Law enforcement officer
3. Custom inspector
4. Military
5. Public health nurse
A law enforcement officer is a person that enforces law. They also help in protecting lives and properties.
Answer:
Money is not considered a capital resource because money is not productive. It provides access to resources but itself does not directly contribute to the production of goods and services.
Entrepreneurial ability does directly produce goods and services; it organizes the resources that do. Entrepreneurs are risk-takers.
Explanation:
Answer:
False
Explanation:
Both supply and demand concepts rest on the relationship between price and quantity.
Quantity demanded increase when price falls and falls when price increases.
Quantity supplied increases when price increases and falls when price falls.
The demand and supply curve are plotted with price on the y axis and quantity on the x axis.
I hope my answer helps you
Banks create cash by using lending extra reserves to buyers and businesses. This, in turn, finally provides greater to money in circulation as dollars are deposited and loaned again.
The Fed does not really print money. This is treated through the Treasury Department's Bureau of Engraving and Printing.
<h3>How is money created in the economy?</h3>
Most of the money in our economy is created by using banks, in the form of financial institution deposits – the numbers that show up in your account. Banks create new money each time they make loans. 97% of the money in the financial system today exists as financial institution deposits, at the same time as simply 3% is physical cash.
<h3>How do commercial banks create money?</h3>
Commercial banks make cash through imparting and earning activity from loans such as mortgages, auto loans, business loans, and personal loans. Customer deposits provide banks with the capital to make these loans.
Learn more about creating money here:
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