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BartSMP [9]
3 years ago
13

Problem 5-1 Simple Interest versus Compound Interest [LO1] First City Bank pays 8 percent simple interest on its savings account

balances, whereas Second City Bank pays 8 percent interest compounded annually. If you made a $68,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 8 years
Business
1 answer:
Anna71 [15]3 years ago
7 0

Answer:

$14,343.25

Explanation:

The computation is shown below;

For the first bank

The value of investment is

= $68,000 × 8% × 8 + $68,000

= $111,520

For the second bank

= $68,000 × (1 + 0.08)^8

= $125,863.25

So, the difference in these both amount should be

= $125,863.25 - $111,520

= $14,343.25

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saul85 [17]

Answer:

See below

Explanation:

Given the above information, first we'll compute net proceeds

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$6,192,000

Add:

Due from factors $7,200,000 × 9%

$648,000

Less;

Recourse obligation

($5,000)

Net proceeds

$6,835,000

5 0
3 years ago
Whitman and Greene are partners in a real estate venture. At January 1, 2020, their respective capital balances were $200,000 an
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Which describes the cross section of the rectangular prism that passes through vertices A, B, C, and D?

(A rectangular prism with measurements 3 centimeters, 10 centimeters, 6 centimeters.)

a rectangle with two 10-cm sides and two 6-cm sides
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a nonrectangular parallelogram with two 10-cm sides and two 6-cm sides
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4 years ago
There are professional guidelines that should be observed in a home inspector's operation. These include client confidentiality,
Agata [3.3K]
After a keen research, there's a same question that provides choices. Here are the choices.

a) getting paid before delivering your service 
<span>b) providing several different types of test data on the home </span>
<span>c) providing the highest-quality technical information </span>
<span>d) asking the homeowner to point out defects in the house
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So, the correct answer is letter (C) providing the highest-quality technical information.

There are professional guidelines that should be observed in a home inspector's operation. These include client confidentiality, using a standard inspection procedure, and "<span>providing the highest-quality technical information."</span>
7 0
3 years ago
Snowberry Corporation had a net increase in Retained Earnings of $182,000 for the year. The corporation also paid $56,000 of cas
Zolol [24]

Answer:

$232,400

Explanation:

Data provided

Net increase in Retained Earnings = $182,000

Dividend declared for the year = $50,400

The computation of net income for the current year is shown below:-

Net income for the current year = Net increase in Retained Earnings + Dividend declared for the year

= $182,000 + $50,400

= $232,400

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What are labor laws designed to do? *
Lapatulllka [165]

Answer:

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