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pochemuha
2 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]2 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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David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments
Snowcat [4.5K]

Answer:

-$1,800

Explanation:

Given that

Tax liability = $1,700

Prepayment made = $1,500

Child tax credit = $2,000

The computation of tax refund is given below:-

= Tax liability - (Prepayment made + Child tax credit)

= $1,700 - ($1,500 + $2,000)

= $1700 - $3500

= -$1,800

Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.

3 0
3 years ago
Top management at Prinze Auto Sales has decided to replace their traditional marketing approach with an approach that emphasizes
Citrus2011 [14]

Answer:

2. False

Explanation:

Relationship management is considered an important part of CRM (customer relationship management) and it emphasizes on building and increasing customer loyalty and long term commitment.

If this company was to replace their traditional marketing approach with relationship marketing, they would devote more time to build a solid relationship with existing customers and less time searching for new customers.

5 0
3 years ago
Marquis has a gross pay of $816. By how much will his gross pay be reduced if Marquis has the following items withheld? federal
andre [41]

Gross pay is the amount of income before taxes and deductions. The amount by which the gross pay is reduced is $174.66.

<h3>What is gross pay?</h3>

The gross pay is the amount of salary or wages that is before the taxes or other deductions. The expense of tax and deductions are subtracted from the gross pay to calculate the net pay.

The gross pay of Marquis in the given question is $816. His gross pay will be reduced by the taxes to calculate the net pay.

The amount of reduction will be the sum of all the taxes levied such as federal tax, social security tax, and so on.

Therefore the amount by which the gross pay will be reduced is:

\begin{aligned} \rm Federal\: tax &= \$92\\\\\rm Social\: security\: tax (\$816\times 6.2\%) &= \$50.592\\\\\rm Medicare\:tax (\$816\times 1.45\%) &= \$11.832\\\\\rm \end

The state tax is calculated as a percentage of federal tax. The state tax is:

\rm State \:tax (\$92\times 22\%) &= \$20.24\\

Therefore the total amount of reduction is:

\rm Total\:amount\:of\:reduction = \$92 + \$\$50.592 + \$11.832 +\$20.24\\\\\rm Total\:amount\:of\:reduction = \$174.664

Hence, the correct option is d.

Learn more about gross pay here:

brainly.com/question/8067656

6 0
2 years ago
When aksed if a company should drop a​ product, a segment or line of​ business, what is a key question that should first be​ ask
Greeley [361]

Answer:

Option B is correct ( Will any of the fixed costs go​ away? If​ yes, ignore them in the decision process)

Explanation:

7 0
3 years ago
"The Electronic Frontier Foundation filed a class-action lawsuit against AT&amp;T, accusing the telecom firm of violating the la
sergejj [24]

Answer:

AT&T was accused of selling real-time customer data and location.

Explanation:

Electronic Frontier Foundation (EFF) and Pierce Bainbridge Beck Price & Hecht LLP will file a class action lawsuit against AT&T on behalf of some of their clients.

The legal remedy is before a court in California with the aim of preventing AT&T and two companies specialized in aggregating data that can have unauthorized access to information and even the real-time location of the company's mobile clients telecommunications. According to the information, EFF alleges that AT&T sold the real-time geolocation data of the clients to credit agencies, bonds and other third parties without the required client's consent and without any legal authority.

7 0
3 years ago
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