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3 years ago

What does it mean to set up an ""automatic deposit"" and why is this a good savings strategy?

Business

1 answer:

Anna71 [15]3 years ago

5 0

Answer:

It is an Eletronic Payment Method

Explanation:

An automatic deposit is a payment processing option where funds are deposited directly into the recipients' bank account. It is an electronic service applied in paychecks, tax refunds, and pensions. Individuals can set up such a service with their banks or employers.

As a saving strategy, an employee instructs the employer to make automatic payments to their savings account. The employee will decide the amount they want to save. The amount is deducted from their pay and send to their savings account. Business people can also instruct their bank to deduct a certain amount from the business account and send it to their savings account.

This strategy is suitable for saving because it's efficient. The amount meant for savings will not be available for other purposes. The automatic deposit system ensures the amount intended for saving is saved.

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One of the principles of hierarchy is a clear ______ chain of command.

Genrish500 [490]

Answer: One of the principles of hierarchy is a clear <u>vertical </u>chain of command.

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4 0

2 years ago

Suppose that $ 5 000 is invested at 3.9 % annual interest rate, compounded monthly. How much money will be in the account in (

BlackZzzverrR [31]

Answer:

(A) $5,131.5

(B) $12,729.5

Explanation:

The interest earned on the value of interest earned before is the compounded interest. Compounding is the reinvestment of the amount earned before and take return over it too.

As per given data

Invested amount = $5,000

Interest rate = 3.9%

Interest is compounded monthly

Monthly rate = 3.9% / 12 = 0.325%

Formula for the accumulated amount of investment

A = P ( 1 + r )^n

Accumulated Money when $5,000 is

(A) Invested for 8 months

A = $5,000 ( 1 + 0.325% ) ^8

A = $5,131.5

(b) Invested for 24 years or 288 months (24 x 12)

A = $5,000 ( 1 + 0.325% ) ^288

A = $12,729.5

4 0

3 years ago

Read 2 more answers

In some states, judges have cited ________, a value shared by most Americans, in arguing against funding disparities between sch

stiks02 [169]

In some states, judges have cited equality, a value shared by most Americans, in arguing against funding disparities between school districts created by a reliance upon property taxes in education.

The basis of equality thinking was laid by French philosophers such as Voltaire, Rousseau and Denis Diderot. The foundation of egalitarianism can be found in the American Declaration of Independence, which was largely drafted by Thomas Jefferson and which was adopted by representatives of the then 13 British colonies on the American East Coast on July 4, 1776.

Traditional equality thinking is characterized by being equal not only in their rights, but also in their opportunities, rights to opportunities in education and work and all other areas of economic and social life.

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2 years ago

Although total world grain production is increasing, per capita production remains flat. what factors have contributed to this s

RoseWind [281]

Although total world grain production is increasing, per capita production remains flat. The factors that have contributed to this situation are the increasing population of humans, climatic conditions, quality of land cultivation, and the energy to plant and harvest the grain.

In 2019, the USA populace changed to 328 million, even as its financial output turned into valued at $21.43 trillion. To calculate GDP in step with capita, we get the full GDP and divide via the whole population. In this example it is: So in 2019, the GDP per capita of the USA becomes $ 65,335

According to per capita production intake, the every year use of goods and offerings by using all and sundry is derived through dividing the number of products and offerings utilized by the full populace. This variable serves as a right-away measure of personal monetary well-being. Per capita consumption is stricken by (Jain et al., 2012):

GDP in line with per capita production is the sum of gross cost introduced with the aid of all resident producers within the financial system plus any product taxes (much fewer subsidies) not blanketed within the valuation of output, divided by using mid-yr population. boom is calculated from constant price GDP data in nearby forex.

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5 0

2 years ago

Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2015, for Hennesaw Lu

777dan777 [17]

Answer:

207,000

Explanation:

We can find the net profit after tax under the percent of sales method as follows. workings are explained as in order to estimate the net profit after tax we need to estimate the variable cost according to estimated sales.

Sales $4,500,000

Cost of Goods Sold ($3,825,000)

((3,570,000/4,200,000) x 4,500,000)

Gross Profit $675,000

Operating Expenses ($225,000 )

(( 210,000 / 4,200,000) x 4,500,000 )

Operating Profits $450,000

Interest Expense ($105,000 )

Net Profit before Taxes $345,000

Taxes ( 40 %) ($138,000 )

Net Profit after Taxes 207,000

7 0

3 years ago