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
guapka [62]
3 years ago
8

First Simple Bank pays 6.4 percent simple interest on its investment accounts. If First Complex Bank pays interest on its accoun

ts compounded annually, what rate should the bank set if it wants to match First Simple Bank over an investment horizon of 10 years? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Ksju [112]3 years ago
8 0

Answer:

i =0.050713..     or

approximately \ 5.0713..\%

Explanation:

Assume an investment of $1.00

First Simple Bank:

Amount after 6 years = 1 + PRT

= 1 + 1(0.064)(10)  

= 1.64

 

Complex Bank:

1*(1+i)^{10}  = 1.64

Take 10th root of both sides

( (1+i)^ {10})*(\frac{1}{10} ) = 1.64^{\frac{1}{10}}

1+i = 1.050713..

i =0.050713..

or

approximately \ 5.0713..\%

You might be interested in
Select the correct answer.
almond37 [142]

Answer:

answer is b

Explanation:

8 0
3 years ago
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budg
Sati [7]

Answer:

Bramble Corporation

The difference between cash receipts and cash disbursements for December would be:

=  $71,000

Explanation:

a) Data and Calculations:

Balance Sheet October 31

Assets Cash                            $ 21,400

Accounts receivable                  71,400

Merchandise inventory           156,800

Property, plant and equipment,

net of $573,400 accumulated

depreciation                        1,095,400

Total assets                      $ 1,345,000

Liabilities and Stockholders' Equity

Accounts payable              $ 255,400

Common stock                      821,400

Retained earnings                268,200

Total liabilities and

stockholders' equity      $ 1,345,000

                                     November       December      January

Budgeted sales            $320,000        $300,000   $290,000

Cash Collections:

55% month of sale         176,000            165,000      159,500

45% following month       71,400             144,000      135,000

Total collections          $247,400         $309,000   $294,500

Cost of goods sold     $224,000         $210,000    $203,000

=  (70% of Sales for the month)

Ending Inventory            147,000            142,100

Goods available           $371,000        $352,000

Beginning Inventory      156,800            147,000       142,100

Purchases                    $214,200        $205,000

Cash disbursements:

Payment to suppliers   255,400           214,200      205,000

Other monthly exp.        23,800             23,800

Total disbursements $279,200         $238,000

Comparison of Cash receipts with Cash disbursements:

                                   November       December

Cash receipts             $247,400         $309,000

Cash disbursements $279,200         $238,000

Difference                    ($31,800)           $71,000

8 0
3 years ago
How can you get your money back if you send a p2p payment to the wrong person?.
gladu [14]

When a payment is sent to the wrong person using p2p, the money cannot be gotten back since it is equivalent to giving money to a wrong account. However, the person can lay a complaint to the customer service to take action.

<h3>What is P2P Payment?</h3>

P2P payment is a system of payment where money is sent to another member of the crypto community in exchange for a coin to be sent to the individual's wallet. It is equivalent to giving someone cash.

When a user mistakenly sends money to the wrong person, the money cannot be gotten back. But if the sender has the details of the wrong receiver, an appeal can be made for the money to be reversed. However, if this is not the case, then the money would have to be forfeited.  

Learn more about P2P Payment here:

brainly.com/question/25107350

7 0
2 years ago
Determine which moral standard of social responsibility the business is observing. Meg's company decided to build an additional
Lerok [7]

Answer:

e) Corporate Citizenship Moral Standard

Explanation:

Social responsibility is defined as the ethical framework that guides companies and individuals to give back to the environment in which they operate. It is a balance between pursuing economic benefits and protecting the ecosystem.

In this secanrio when the community started a protest because of the negative impact the factory would have, Meg's company promised to prevent and pay for any negative impact to the community. It also offers to build a community park to balance out the negative impact the factory might cause.

The moral used here is corporate citizenship moral standard. Where a company is ameliorating negative effect of its processes and also building a community park for the community

3 0
3 years ago
Read 2 more answers
Scientific management approach has lost its relevance. How might today's
Setler [38]

Answer:

syntific mamagement loss it relevance its relevs today it will might today it will not lost revalance

6 0
2 years ago
Other questions:
  • Look carefully at the following list. a. The coins in your pocket. b. The funds in your checking account. c. The funds in your s
    12·1 answer
  • During the 1920s, the Federal Reserve increased the money supply and kept interest rates very low, encouraging consumer spending
    14·1 answer
  • A "false positive," in which an effect is detected when, in reality, there is none, is an example of__________.
    11·1 answer
  • Mack's guitar fabrication shop produces low cost, highly durable guitars for beginners. Typically, out of the 100 guitars that b
    5·1 answer
  • What is a system for ordering items that have little or no value at the end of a sales​ period?
    13·1 answer
  • Suppose that an economy is producing on its production possibilities curve but is not producing quantities of each good where th
    7·1 answer
  • Paul owns a photography studio, and he has applied for a loan to
    15·1 answer
  • A transfer payment is Group of answer choices a payment that is automatically transferred from your bank account to pay a bill o
    13·1 answer
  • A standardized language used to manipulate data is
    14·1 answer
  • Amazon changed how customers shop and what customers expect. What are the changes they brought in?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!