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mariarad [96]
3 years ago
12

Banking is a general term for what?

Business
2 answers:
Gnoma [55]3 years ago
7 0
What is a term in banking?
A general term encompassing savings banks, savings and loan associations, and credit unions. ... Demand deposit accounts, NOW (negotiable order of withdrawal) accounts, and credit union share draft accounts are examples of transaction accounts.


What is banking in simple terms?
A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services, such as wealth management, currency exchange, and safe deposit boxes. There are two types of banks: commercial/retail banks and investment banks
mafiozo [28]3 years ago
3 0

Answer:

financial institution

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5.01%

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Ivenika [448]

Answer:

C. y = 11000(1.086)^7

Explanation:

Given the following data;

Principal = $11,000

Interest rate = 8.6% = 8.6/100 = 0.086

Time = 7 years

To derive a mathematical expression, we would use the compound interest formula;

A = P(1 + \frac{r}{100})^{t}

Where;

A is the future value.

P is the principal or starting amount.

r is annual interest rate.

t is the number of years for the compound interest.

Substituting into the formula, we have;

A = 11000*(1 + \frac{8.6}{100})^{7

A = 11000*(1 + 0.086)^{7

A = 11000*(1.086)^{7

A = 11000*1.78

A = $19,580

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3 years ago
Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500
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deduction for organizational expenses = $5,000

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In this case, organizational costs were $9,500, so they can deduct $5,000 during the first year and $4,500 will be amortized over the next 15 years. Startup costs are $54,500, which means that they can only deduct $5,000 - ($54,500 - $50,000) = $500 during the first year. The remaining $54,000 must be amortized over a 15 year period. Total deduction during the first year = $5,000 + $500 = $5,500

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