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3 years ago

Why is important to have a checking account savings account and certificate of deposit?

Business

1 answer:

alexdok [17]3 years ago

3 0

Answer:

So you can be prepared to handle future responsibilities about finances.

Explanation:

One prime example would be when you go to college you need to make decisions whether to keep the money or give it away for some fragile reasons/needs. Maintaining a checking account instills the habit to grow & safeguard the savings you might make working after school. Just my two cents! :)

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Your uncle is about to retire, and he wants to buy an annuity that will provide him with $75,000 of income a year for 20 years,

kolezko [41]

Answer:

It cost $915,166.69

Explanation:

R=75,000

i=j/m, j=0.0525, m=1 - annually

i=0.0525

n=mt

n=20

An=R[1-(1+i)^-n] : i

An=(75,000x[1-(1+0.0525)^-20]) : 0.0525

An=$ 915,166.69

8 0

4 years ago

The Water Sports Company soon will be producing and marketing a new model line of motor boats. The production manager, Michael J

Licemer1 [7]

Answer:

Explanation:

X - number of units sold

Total cost for production = 1,500,000 + 1600X

Total cost for purchasing = 2000X

a. For 4000 units sold

Total cost for production = 1,500,000 + 1600 * 4000 = $7,900,000

Total cost for purchasing = 2000* 4000 = $8,000,000

In this case producing is cheaper. Therefore, it is better to produce

b. Y - break-even point

Then : 1,500,000 + 1600 * Y = 2000* Y

So 1,500,000 = 400 Y

Y = 3750

At №of units less than 3750 purchasing will be the better option

And above 3750 producing will be the better option

4 0

3 years ago

A company had net income of $252,327. Depreciation expense is $21,821. During the year, Accounts Receivable and Inventory increa

Anettt [7]

Answer: Option (d) is correct.

Explanation:

Given that,

Net Income = $252,327

Depreciation expense = $21,821

Accounts Receivable increased by = $14,346

Inventory increased by = $33,617

Prepaid Expenses decreased by = $3,079

Accounts Payable decreased by = $4,161

Loss on the sale of equipment = $5,398

Operating Income = Net Income + Depreciation expense - Accounts Receivable - Inventory + Prepaid Expenses - Accounts Payable + Loss on the sale of equipment

= $252,327 + $21,821 - $14,346 - $33,617 + $3,079 - $4,161 + $5,398

= $230,501

7 0

3 years ago

Financial institutions pay___

Dmitriy789 [7]

Answer: B

Explanation: I work for a bank.

3 0

3 years ago

Read 2 more answers

Strategic groups typically follow different business strategies. In the pharmaceutical example in this case, the high-risk, high

Bumek [7]

The pharmaceutical example whereby the high-risk, high-return strategy is employed would be characterized by: d. related diversification.

<h3>What is Related Diversification?</h3>

Related diversification can be described as a scenario whereby a firm ventures into a new industry in which there are similarities in the business lines of the new and old industry.

In most cases, related diversification, is a strategy where the existing products and services have much similarity with the new ones that are being developed.

Therefore, the pharmaceutical example whereby the high-risk, high-return strategy is employed would be characterized by: d. related diversification.

Learn more about related diversification on:

brainly.com/question/417234

4 0

3 years ago