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serg [7]
3 years ago
5

William wrote a check for $150.00 for his gas bill, but he only has 96.26 in his checking account. What will happen to the check

when it is presented for payment
Business
1 answer:
TEA [102]3 years ago
7 0

Answer:

The person will ask William to check his checking account and then William would have to lower the check amount he had previously wrote.

Explanation:

If you write a check or make a purchase for more than you have in your checking account, your bank may cover the difference. This line of credit offered by the bank is called overdraft protection. ... Furthermore, if your account remains overdrawn, your bank may also charge you daily interest on the loan.

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If Bruce needs to withdraw $100 per year over the next 3 years beginning immediately, how much must he deposit today if his acco
Nonamiya [84]

Answer:

He has to deposit $ 273.55 today to withdraw $ 100 per year over next three years beginning immediately.                                                      

Explanation:

The problem belong to Present value of Annuity due. Annuity due formula is used when the series of payments/receipts takes place at the beginning of each time period.

Mathematically, Present value of annuity due can be calculated as;

Present value of Annuity Due = Amount of equal Payment or Withdrawal/interest rate[1-1/(1+interest rate)^ no.of time periods] x (1+interest rate) ------------ (A)

From given data in the problem,

Interest Rate = 10 %

No. of Time Period = 3

Payments/Withdrawal = $ 100

Put these values in equation  (A), we get

Present value of Annuity Due = $100 / 10 % x[1-1/(1+10 %)^3] x (1+10 %)

or We can also write as

Present value of Annuity Due = $100 / 0.10 x [1-1/(1+0.10 )^3] x (1+0.10 )

Present value of Annuity Due = $ 1000 x [1-1/(1.331)] x (1.10)

Present value of Annuity Due = $ 1000 x [1-0.751315] x (1.10)

Present value of Annuity Due = $ 1000 x 0.248685 x 1.10

Present value of Annuity Due = $ 273. 55

4 0
3 years ago
Arielle, a successful banker and educator, has decided to retire, but she is very interested in staying involved with a company
Anestetic [448]

Answer: (D) Overall strategic goals and approval of major decisions.

Explanation:      

  According to the given question, Arielle is one of the successful banker and also the educator and she is very much interesting in the organization but now she is decide to retire.

The Arielle is basically involving with the overall goals of an organization and also give many approval on the major decisions.

As, she is one of the member of board of directors and she is also serving this organization for very long time so she feel connected with the company and also helps in making the various types of effective decision for an organization.

 Therefore, Option (D) is correct answer.

7 0
3 years ago
Robert and Mary file a joint tax return for 2020 with adjusted gross income of $34,000. Robert and Mary earned income of $20,000
erastova [34]
Josiah itdxiu ududyi puff
5 0
3 years ago
Which investment is better stocks, bonds, or mutual funds and why?
Viefleur [7K]

\text{Hello There!}

\bold{Stocks} \text{is the act of putting money in a business and expecting to make a profit.}

\bold{Bonds} \text{are more of a safe to invest in, however, you cannot sell them for 12 months.}

\bold{Mutual\;Funds} \text{ is the act of investing in securities with other investors}

  Mutual Funds can be a good option if you're okay with the lack of investment decisions; however, people often lose money due to the risk of securities going down in value.

  {\underline{\underline{{Stocks}}} are going to be your best option for short-term investments.

   {\underline{\underline{{Bonds}}} are going to be your best option for long-term investments.

 {\underline{\underline{{Mutual\;Funds}}} are going to be your best option for investing in bigger stocks.

\boxed{There\;isn't\;a\;"best"\;option;\;it\;depends\;on\;what\;you\;prefer.}

\rule{300}{1.0}

3 0
3 years ago
During 2019, Globe Life Corporation had following transactions affecting stockholders' equity: a. Feb. 1 Repurchased 230 shares
natali 33 [55]

Answer:

The requirement of question is prepare journal entries for each of above transaction; It is assumed that par value of each share is $1

Explanation:

Feb 1.

Common Stocks  230*1                           Dr.$230

Paid in capital in excess of par 230*(22-1)  Dr.$4,830

Cash 230*22                      Cr.$5,060

b. Jul 15

Cash 130*23    Dr.$ 2,990

Common Stocks 130*1     Cr.$130

Paid in capital  in excess of par 130*(23-1) Cr.$2,860

c.Oct 1

Cash 100*21             Dr.$2,100

Common Stocks 100*1            Cr.$100

Paid in Capital in excess of par 100*(21-1) Cr.$2,000

5 0
3 years ago
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