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pochemuha
3 years ago
5

You've just opened up a new savings account at the local credit union. You deposited $500 into the account. If you leave your $5

00 in the account for one year, the interest rate (APR) is 2% compounding semiannually, what is the APY?
Business
1 answer:
scZoUnD [109]3 years ago
5 0

Answer:

I believe the APY would be $520 for the rounded version and $520.20 for the not rounded

(not completely certain since i didnt fully understand)

Explanation:

using the formula for calculating compounding semi annualy

A = P(1 + r)t

A= 500(1+0.02)2 (i put 2 instead of one year because its semi annually so twice)

A= 500(1.02)2

A= 500x1.04=$520(rounded)

A=500x1.0404= $520.20(not rounded)

Please correct me if I understood your question wrong

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Suppose the economy is in a recession. The economy needs to expand by at least $350 billion, and the marginal propensity to cons
MissTica

Answer:

$140

Explanation:

Calculation for What is the least amount the government can spend to overcome the $350 billion gap

First step is to find the Multiplier using this formula

Multiplier=1(1-Marginal propensity)

Let plug in the formula

Multiplier=1/(1-0.6)

Multiplier=1/0.4

Multiplier=2.5

Now let calculate the least amount the government can spend using this formula

Least amount=Gap/Multiplier

Let plug in the formula

Least amount=$350 billion /2.5

Least amount=$140

Therefore the least amount the government can spend to overcome the $350 billion gap is $140

4 0
3 years ago
Importance of technology in today's industry?​
Crank

Answer:

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3 years ago
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rjkz [21]

Answer: Option C

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Hence, from the above explanation we can conclude that option C is correct.

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Answer:

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Explanation:

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