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2 years ago

One of the benefits of a savings account is that it allows your money to grow but there is a high risk associated with it.

Business

1 answer:

MrRa [10]2 years ago

4 0

Answer:

There is low interest rate. There is minimum balance requirement problem. There is federal withdrawal limit.

Explanation:

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3. The economic system that is found in a Socialistic political system is a: *

lara [203]

Answer:

Command Economy.

Explanation:

6 0

3 years ago

Which interest-bearing account is best for people who won't need access to their money for several months or longer?

Alecsey [184]

The answer is A.
CD(Certificate of Deposit) is similar to a saving account, but it has additional perks. There is a minimum amount of money you have to deposit and you have to deposit that money for a certain amount of time (term). CDs have better interest rate than savings accounts, but if you withdraw your money before the term you pay penalties.
This makes them a good option for people have some extra money that they won't need in a near future.

3 0

3 years ago

Cash is an _____.

nikklg [1K]

A. Asset

Explanation:

-asset is a useful or valuable thing

4 0

3 years ago

While on a trip to South Africa, Elena was impressed with colorful woven outdoor placemats, floor mats, chair cushions, and umbr

Anit [1.1K]

Answer:

D. Since most import businesses are also export businesses, find a U.S. product South Africans would be willing to buy.

Explanation:

Also she should hear from others who import and export goods from Africa and US and vice-versa.

8 0

3 years ago

Read 2 more answers

You plan to invest in bonds that pay 6.0%, compounded annually. If you invest $10,000 today, how many years will it take for you

kati45 [8]

Answer:

The answer is 16 years.

Explanation:

The formula for calculating the value of an investment that is compounded annually is given by:

$V(n)=(1+R)^nP$

Where:

$n$ is the number of years the investment is compounded,

$R$ is the annual interest rate,

$P$ is the principal investment.

We know the following:

$25000=(1+0.06)^n \times 10000$

And we want to clear the value n from the equation.

The problem can be resolved as follows.

First step: divide each member of the equation by $10,000$ :

$\frac{ 25000}{10000}=(1+0.06)^n \times \frac{ 10000}{10000}$

$2.5=(1.06)^n$

Second step: apply logarithms to both members of the equation:

$log(2.5)=log (1.06)^n$

Third step: apply the logarithmic property $logA^n=n.logA$ in the second member of the equation:

$log(2.5)=n.log (1.06)$

Fourth step: divide both members of the equation by $log1.06$

$\frac{log(2.50)}{log (1.06)} =n$

$n= 15.7252$

We can round up the number and conclude that it will take 16 years for $10,000 invested today in bonds that pay 6% interest compounded annually, to grow to $25,000.

6 0

3 years ago