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Hatshy [7]
3 years ago
15

Bank A offers to lend you money at 10 percent compounded monthly, Bank B at 11 percent compounded quarterly, and Bank C at 12 pe

rcent compounded annually. Calculate the effective rates and state which bank offers the lowest cost of borrowed capital.
Business
1 answer:
ahrayia [7]3 years ago
8 0

Answer and Explanation:

The computation is given below:

For Bank A,

Effective annual rate is

= (1 + 0.10 ÷ 12)^12 - 1

= 10.47%

For Bank B,

Effective annual rate is

= (1 + 0.11 ÷ 4)^4 - 1

= 11.46%

And,

For Bank C,

Effective annual rate = 12%

Therefore, Bank A is best to borrow at lowest effective annual rate

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Should highschoolers have nap time? <br> Best answer gets brainliest and 100 points!
maxonik [38]
In my opinion, yes. It could beneficial to high schoolers, as getting more rest would most likely help them function better by being allowing the student to be more alert and focused after waking up, or they could even have an easier time retaining information from lessons with a 20-30 minute nap. Along with the nap letting their brain rest for a little, it could be helpful to someone who’s stressed by calming the student down almost by resetting their mindset. But of course, the nap should be short enough not to interfere with their Circadian rhythm or let them fall into stages of deep sleep.
4 0
3 years ago
Moss County Bank agrees to lend the Cullumber Company $695000 on January 1. Cullumber Company signs a $695000, 6%, 9-month note.
DiKsa [7]

Answer:

The interest on notes is calculated as follows

Interest payable = Face value of bonds * Interest rate * (Time of maturity / 12 months)

= $695,000 * 6% * 9/12

=$31,275

Cullumber company will pay the face value of the notes as the notes are payable at par, along with interest rate of 6% for the period of 9 months. This will result in outflow of cash, thereby crediting cash account. The liability on account of notes payable and interest payable will be settles, thereby debiting the payable account

                                 General Entry

Date         Account Title and Explanation     Debit            Credit

30 Sep.    Notes payable                                $695,000

                Interest payable                              $31,275

                Cash                                                                      $726,275

                (To record the amount to be paid at maturity)

6 0
3 years ago
On the basis of the information, and assuming trade occurs between the three states, we can expect Multiple Choice Washington to
Goshia [24]

Answer: Washington to exchange apples with Texas and receive money in return.

Explanation:

The picture relating to the question has been attached.

From the question, we are informed that Michigan has surplus autos, and wants lettuce. Texas has surplus lettuce and wants apples. Washington has surplus apples and wants autos.

If trade occurs among the three states, Washington will exchange its apples with Texas since it has surplus apples and Texas also want apples. Of the three states, it is only Washington that has surplus apples so it can exchange with Texas for money.

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4 years ago
A cyclically-adjusted budget balance: a. shows what the budget balance would be when there is a significant amount of cyclical u
GarryVolchara [31]

Answer:

B

Explanation:

The cyclically adjusted budget balance is what the budget balance of an economy would be if the GDP was at its potential. It is also known as the  known as the full employment budget balance

8 0
3 years ago
Discuss the principles of professionalism.​
BaLLatris [955]

Answer:

Maintain confidentiality in professional relationships. ... Fulfill commitments in a reliable, responsive and efficient manner. Be fully accountable for actions, use of resources and financial dealings.

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