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3 years ago

If there is a 30% reserve requirement on a $1,000 deposit, how much must be set aside as a member bank reserve?

Business

1 answer:

Artemon [7]3 years ago

6 0

Answer:

$300

Explanation:

The 30% of the $1000 deposit is $300.

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You deposit $100 in an account that pays 6 percent annual interest, compounded quarterly. What will your deposit grow to in 3 ye

Burka [1]

Answer:

$119.56

Explanation:

We will use compound interest formula to solve this problem.

The formula is:

$F=P(1+r)^t$

Where

F is the future value

P is the present amount

r is the rate of interest per period

t is the number of periods

Here,

F is the value we want, after 3 years

P is the present amount, $100

r is the rate of interest per quarter (per period)

Given r = 6% annually, so that would make:

6%/4 = 1.5% per quarter, or 1.5/100 = 0.015

Also, t is the number of quarters in 3 years, that would be 4*3 = 12

Now, substituting, we get our answer:

$F=P(1+r)^t\\F=100(1+0.015)^{12}\\F=100(1.015)^{12}\\F=119.56$

The first answer choice is right, $119.56

3 0

3 years ago

Vino Winery is considering the purchase of a state-of-the-art bottling machine. The new machine will cost $20,790 and will have

jolli1 [7]

Answer:

the internal rate of return is 6%

Explanation:

The computation of the internal rate of return is shown below;

Given that

Years Cash flows

0 -$20,790

1 $6,000

2 $6,000

3 $6,000

4 $6,000

Now apply the following formula i.e..

= IRR()

After applying the above formula, the internal rate of return is 6%

6 0

3 years ago

"Tourism sector has become a good source of earning foreign currency in Nepal"Justify this statement with examples

olchik [2.2K]

Explanation:

Tourism has become one of the main income sources for many developing countries like Nepal. Nepal has great potential to become a top destination for tourists as the nation is famous for its snowcapped mountains, abundant flora and fauna, exciting trekking routes and rich cultural and religious diversity.

5 0

3 years ago

Read 2 more answers

America's basic cold war strategy emerged when the Truman administration adopted the recommendations of U.S. diplomat and Soviet

Goshia [24]

Answer:

The containment doctrine.

Explanation:

American government's fear of Soviet expansion (communism) triggered the entrance of the US into the cold war. During the 1940s the US developed an strategy of nuclear deterrence since it lacked sufficient amount of troops to confront the Soviet army in eastern Europe. The Truman Doctrine helped to expand the cold war to the whole world.

3 0

3 years ago

Which of the following examples should make a consumer leary to purchase from a business?

Mashutka [201]

Answer:

A. Limited information about the establishment on the company’s website.

Explanation:

A business is promising if they have complete information on their website. The credibility is made sure if the company has proper information that instigates trust among the consumer. The consumer can trust the company if they can reach it easily after the purchase and if the company has proper setup, both physical and virtual.

Therefore the correct answer is option A. Limited information about the establishment on the company’s website.

4 0

4 years ago