Bank reconciliation refers to looking at your bank statement and your personal register and making sure they match up with no discrepancies. In this case, there were discrepancies, $150 worth so John had to look and see what was missing and making sure they both equaled the same amount. From the numbers given, John's bank account was reconciled $150.
The amount of money needed now to begin the perpetual payments is
P = A/I =15,000÷0.05=300,000
The amount that would need to have been deposited 25 years ago is
P=A÷(1+r)^t
P=300,000÷(1+0.05)^(25)
P=88,590.83
Answer:The average cost to install hardwood floors on 1,000 sq. feet is between $6,115 and $10,140 with most homeowners spending about $8,127 for materials and professional labor.
Explanation:
Answer: b. Because of unpredictable changes in the public's desire to hold cash or borrow and banks' desires to hold reserves or lend.
Explanation:
The Fed is able to embark on monetary policy that influences the entire country - and the world to some extent - because they have very strong influence over the money supply of the US$.
This influence is not absolute however because as the old adage goes, "you can lead a horse to water but you can't make him drink". In other words, the Fed can relax(impose) restrictions to make money more(less) available but they cannot force people to borrow(hold) that money.
They can't force banks either to either hold reserves or lend money out because banks are free to impose their own reserve limits on top of those of the Fed.
.............................................................Budget Challenge?
