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Anna007 [38]
3 years ago
6

First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest

compounded annually. If you made a deposit of $11,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 11 years
Business
1 answer:
Pepsi [2]3 years ago
3 0

Answer:

$ 2,621.28  

Explanation:

The simple interest I=P*R*T

P is the principal amount of $11,000

R is the simple interest rate of 6%

T is the number of years the interest relates to

I=$11,000*6%*11=$7260

Compound interest:

FV=PV*(1+r)^n

FV is the amount of the deposit in eleventh year

PV is the amount deposited which is $11,000

r is the rate of return of 6%

n is eleven years

FV=$11000*(1+6%)^11=$ 20,881.28  

I=FV-PV= 20,881.28-11,000=$ 9,881.28  

Difference between interest earned=$9,881.28-$ 7260 =$ 2,621.28  

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An RR sold shares of new stock issue of ABC Corp. to a customer at $20 per share. After a week, ABC is selling at $10. The RR of
Vanyuwa [196]

Answer:

It is a violation of NASD rules against guaranteeing a customer against loss.

Explanation:

In this case the RR is guaranteeing the customer against loss. The customer initially bought the shares for $20 the new price is $10. The RR now coming in to buy the shares above market value is a way to guarantee the customer against loss, and its a NASD violation.

7 0
3 years ago
Suppose output is $35 billion, government purchases are $10 billion, desired consumption is $15 billion, and desired investment
Alex17521 [72]

Answer:

Net foreign lending would be equal to <u>$4 billion</u>.

Explanation:

This can be computed using the formula for computing the total output of an open economy as follows:

Y = C + G + I + NX .................................. (1)

Where;

Y = Total Output = $35 billion

C = Desired consumption = $15 billion

G = Government purchases = $10 billion

I = Desired investment = $6 billion

NX = Net foreign lending = ?

Substituting the values into equation (1) and solve for NX, we have:

$35 = $15 + $10 + $6 + NX

$35 - $15 - $10 - $6 = NX

NX = $4 billion

Therefore, net foreign lending would be equal to <u>$4 billion</u>.

8 0
4 years ago
According to this warranty, if the camera has had its serial number removed, would it be repaired?
bezimeni [28]
No, It would not be because it does not have a serial number.
4 0
4 years ago
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If a frozen pizza plant is the cost object, classify each of the following costs as direct or indirect, respectively: property i
emmainna [20.7K]

Answer:

Indirect

Direct

Iindirect

Explanation:

Direct cost is the cost that can be traced back to the cost object whereas the indirect cost cannot be traced back. Cost object is something to which the costs are assigned. in this case the cafeteria workers are directly working with the cost object:Frozen pizza plant, hence the cost is directly associated with that. Janitorial supplies and property insurance cost does not directly relate to The cost object given here so it will be classified as indirect cost.

3 0
3 years ago
Keegan, a distribution specialist, has been looking for ways to improve the flow of parts and materials from his company's wareh
bezimeni [28]

Answer:

The correct answer is letter "A": True.

Explanation:

Inbound logistics refers to goods entering a company being shipped, processed and delivered. Inbound logistics is concerned with the relationship between companies and their suppliers. Inbound logistics is related to all inner processes a firm carries on to manufacture a product until it leaves the company for retail.

3 0
3 years ago
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