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Sav [38]
3 years ago
14

Bank "A" is offering 2% interest and a $100 debit card on a newly opened savings account with a minimum balance of $1,000 for on

e year. Bank "B" is offering 5% interest and a $50 debit card on a newly opened savings account with a minimum balance of $1,000 for one year. Assuming you deposit $1,000, which has the better return (interest plus card value) FOR THE FIRST MONTH?
Business
2 answers:
charle [14.2K]3 years ago
4 0

Answer:

Explanation:

On the offer of Bank A , the total return ( annual ) for deposit holder

= 2%of 1000 + 100 = 120 dollar

On the offer of Bank B , the total return ( annual ) for deposit holder

= 5%of 1000 + 50 = 100 dollar

Hence the offer of bank A is better in terms of return.

lions [1.4K]3 years ago
4 0

Answer:

The Answer is Bank A

Explanation:

Bank A is offering =(Card Value+ interest on saving account i.e $100+1000*2%/12)=$101.667

Bank  B is offering=(Card Value+ interest on saving account  i.e $50+1000*5%/12)=$54.1667

So the Answer is Bank A because the debit  card value of Bank A is greater than Bank B. Therefore  overall benefit and return is better of Bank A.

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ch4aika [34]

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b labor of the maintenance employees

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Explanation:

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3 0
3 years ago
You want to have $3 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is
sasho [114]

Answer: $25078

Explanation:

Firstly, we'll find the real interest rate which will be:

(1 + R) = (1 + r)(1 + h)

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8 0
3 years ago
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