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3 years ago

________________ invested or made loans with 95 percent of the deposits that were being held..

Business

1 answer:

Over [174]3 years ago

4 0

Answer:

(European) goldsmiths

Explanation:

European goldsmiths (Italian goldsmiths were the first) formulated a principle that only 5% of deposits were needed in reserve at any particular time, therefore they could lend 95% of the gold they held in deposit.

Goldsmiths would rent space in their vaults that allowed other people to keep their gold in a safe place. That led to transactions were notes indicating the amount of gold deposited would be traded instead of trading gold itself.

Eventually goldsmiths discovered that they could trade (lend) more money than the amount of gold they held in deposits, inventing fractional reserve banking.

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You want to invest $18,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that

insens350 [35]

Answer:

The correct solution is "6.09%".

Explanation:

Given:

Nominal rate,

= 6%

or,

= 0.06

As we know,

⇒ $EAR = [(1+\frac{APR}{m} )^m]-1$

By substituting the values, we get

$=[(1+\frac{0.06}{2} )^2]-1$

$=[(1+0.03 )^2]-1$

$=1.0609-1$

$=6.09$ (%)

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2 years ago

A city government purchased a new fire truck in Year 1 for $270,000. The city incurred an additional $ 30,000 in transportation

erica [24]

Answer:

correct option is $0

Explanation:

given data

purchased truck = $270,000

transportation and calibration costs = $30,000

life = 20 years

financed period = 15 year

solution

we know here that some expenses like insurance and depreciation etc is allocated by systematic and the rational procedure for some period

so that during that period related asset is expected to provide the benefit

and acquisition of capital asset is not record as expenses

we know appropriate property and plant or the equipment assets account are debit on purchases

so that Depreciation expenses are recorded to reflect the allocation of costs of the asset to operation over service life of assets

so here correct option is $0

6 0

2 years ago

The City of Crescent Hill operates a central motor pool as an internal service fund for the benefit of the city's other funds an

aliya0001 [1]

Answer:

C. Expenditures

Explanation:

Based on the information provided within the question it can be said that the Parks Department should use an expenditures account to record these billings. Expenditures refers to the action of spending funds to purchase goods or services on behalf of the company. Such purchases can include vehicle rentals like what was billed for the Parks Department.

4 0

2 years ago

The following data represent quantities of tea leaf pluckings (tender shoots from tea plants) from sixteen different plots of te

mr_godi [17]

Answer:

Explanation:

1) $H_0$ : All group means equal or $\mu _1=\mu _2=\mu _3=\mu _4$

$H_1:\mu 1=\mu 2=\mu 3\neq \mu 4$

At least one of the treatment group means are different

ANOVA TABLE

<u>Source of Variation SS df MS F P-value F crit </u>

Between Groups 213.5 3 71.16667 0.65 0.5975 3.490295

Within Groups 1312.5 12 109.375

MSB = SSB / DFB = 71.16667

MSE = SSE / DFE = 109.375

F = MSB / MSE = 0.650667

3) P-value: 0.597576

The test statistic is not significant and failed to reject the null hypothesis.

4) The test statistic is not significant. So, there is no evidence to conclude that there is a difference between groups.

4 0

2 years ago

Rubin Enterprises had the following sales-related transactions on a recent day:

spayn [35]

Answer:

Transaction a

Debit : Account Receivable $27,500

Credit : Sales Revenue $27,500

Transaction b

Debit : Cash $5,875

Credit : Deferred Revenue $5,875

Transaction c

Debit : Sales Revenue $1,500

Credit : Account Receivable $1,500

Transaction d

Debit : Deferred Revenue $5,875

Credit : Sales Revenue $5,525

Credit : Discount received $350

Explanation:

The journals have been prepared above.

8 0

2 years ago