<span>You are given Nigel's current balance of $668.47 in an account he has held for 15 years. Also you are given an initial deposit of $497. You are asked to find the simple interest rate on the account. You will use the simple interest formula, F = P(1 + rn) were F is the current balance, P is the principal amount deposited, r is the rate and n is the number of years.
</span>F = P(1 + rn)
668.47 = 497(1 + r(15))
r = 0.023 or 2.3%
The financial aid that is given based on the financial status and background of the family of a person is termed as Need Based Aid. Need Based Aid and Need based scholarships are offered by a wide range of institutions to help financially weak families and individuals.
Therefore, the correct answer is
Option D) Need Based
Answer:
Prices would decline and interest rates would rise
Explanation:
This is because the market will be flooded with additional 50 billion dollars of bond increasing the supply causing the price to fall. Interest rate are inversely proportional to prices thus interest rate will rise.
<span>#1) Which of the following is not true concerning Income Tax Refunds?
Answer: Out of all the options that are presented above the one that is not true concerning Tax Refunds is that It is advantageous to receive a large sum of money in the form of a refund so that you can use the money to pay down debt.
#2) When claiming dependents, they must meet the following criteria EXCEPT:
Answer: Out of all the options that are available the only one that is not a criteria that they must meet when claiming dependents is that the dependent must reside with you for the entire year.
#3) If you opt to put money in a medical flexible spending account rather than trying to amass enough medical expenses to itemize on your tax return, you are taking advantage of _____.
Answer: Out of all the options that are presented the one that completes the statement and makes it true is an Exclusion.
#4)A form of taxation in which everyone pays an equal rate of taxes is called a _____.
Answer: Out of all the options that are presented the one that completes the statement and makes it true is Flat Tax.
#5) A form of taxation in which the highest income earner pays the largest percentage of taxes is called a _____.
Answer: Out of all the options that are presented the one that completes the statement and makes it true is a progressive tax.
#6) A form of taxation in which the lowest income earners pay the largest percentage of taxes is called a _____.
Answer: The form of taxation that the lowest income earners pay the largest percentage of taxes is called a regressive tax.
#7) Which of the following is not considered part of your gross income?
Answer: Out of all the options that are show the one that is not considered part of your gross income are bartered goods and services.
#8) Which of the following is not true about your adjusted gross income?
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Answer</span><span>: Out of all the options that are available the one that is not true about your adjusted gross income is that it is your income plus your deductions.
#9) Which of the following is true about standard deductions?
Answer: Out of all the options that are available the one that is true about standard deductions is that they are tax breaks that you can claim without having to itemize. They reduce your tax bill rather than your taxable income, although you have to itemize in order to take advantage of this.<span>
</span>#10) A dollar–for–dollar reduction in your tax payment is called a _____.
Answer: This is called credit.
P.s: I noted that almost all of the answers are selected with a <3. Almost all of them were the same.
I hope it helps, Regards.
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If people like the message they want everyone to know. an example is referring someone to paint a friends house when they complain about not finding anyone.
