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SashulF [63]
2 years ago
7

the ABC Company has a monthly collected balance of $600,000. Its bank pays an earning credit rate of 0.75%. The Reserve Requirem

ent Ratio is 10%. Given 30 days in the month, What is ABC's monthly earnings credit?
Business
1 answer:
ohaa [14]2 years ago
3 0

Answer: $332.1

Explanation:

Given that,

Monthly collected balance = $600,000

Bank pays an earning credit rate = 0.75%

Reserve Requirement Ratio = 10% of $600,000

                                              = $60,000

Investable amount = Monthly collected balance - Reserve requirement amount

                               = $600,000 - $60,000

                               = $540,000

 

ABC's monthly earnings credit:

= Investable amount × Earning credit rate × Time period

= 540,000 × 0.75% × \frac{30}{365}

= $332.1

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Answer:

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Explanation:

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3 0
3 years ago
What best describes the position of the U.S. budget, as of fiscal year 2010 (and true today as well), when all current spending
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Answer: The deficit is lower when compared to 2010.

Explanation:

The United States Budget for 2010 titled "A New Era of Responsibility: Renewing America's Promise by President Barack Obama's budget in 2010 was $3.456 trillion for expenditure and total revenue was $2.163 which led to a budget deficit of $1.294 trillion.

In 2019, the revenue was $3.422 and expenditure was $4.407 which led to a budget deficit was $985. It can be deduced that there has been a reduction in the budget deficit when compared to 2010.

6 0
2 years ago
Congress passed a law imposing penalties for displaying "indecent" material online where children could see it. If the U.S. Supr
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1) True

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Therefore, in order to calculate the initial outlay of this project we would have to make the following calculation:

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7 0
3 years ago
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<u>customer type.</u>

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