Since Tanya's parents are from Haiti, there may be grants or scholarships that focus on students from that culture or ethnic background. She might also be eligible for scholarships for Hispanic or bilingual students. She can also apply for scholarships only available to women and anything that might focus on her area of study. Her parents most likely do not have a savings plan started for her but, they should definitely make one because it would help them save a lot of money. Another way to save money is to apply to lesser-known colleges because it would bring down the cost of tuition.
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Firm handshake
Answer:
$3.7557
Explanation:
The computation of one share of this stock worth is shown below:-
Years Dividend Present value Present value
factor at 16%
0 $2.50
1 $2.00 0.8621 $1.7241
2 $1.50 0.7432 $ 1.1147
3 $1.00 0.6407 $0.6407
4 $0.50 0.5523 $0.2761
Total $3.7557
Present value factor at 16% = (1 ÷ (1 + discount rate))^years
Answer:
Commercial banks, required reserve, loans, deposits, create.
Explanation:
The main function of commercial banks is to accept deposits and then to lend the same money (minus required reserves) back out. Banks make a profit by charging a higher interest rate on loans than the interest rate they pay on deposits. Through the loan process, banks are actually able to create money.
The major function of commercial banks is
1. Accepting deposits from people and business organzations.
2. Giving loans to Customers to be paid at a specific period of time at an agreed interest rate.
Required reserve is the minimum amount of money which in required for a commercial Bank to hold/save out of every deposit. If the required reserve is 10% of every deposit, a customer customer deposited $100. The required will be $10 which the bank will hold. The remaining $90 is the balance which banks can loan out to Customers.
Commercial Banks make profit by charging a higher interest rate on loan and lower interest rate on deposits. For example: 7.5% interest rate on loan and 2.5% interest rate on deposits. The 5% difference is the bank Profit.
To solve this probem, let us dissect this step by step.
First: Latimer company borrows $50,000 from the bank
In the perspective of Latimer company, the amount of
$50,000 can already be considered as cash on hand since they are the one
borrowing money and they already have it. So we can see that it actually
increases the asset or expense account of Latimer company. However, it may be
an asset or a cash on hand yet it is a debt. Therefore this is called as debit
cash.
So the record is: Debit Cash for $50,000
Second: Latimer company signs a note that will be paid in
three months
We can see that the note is still to be paid, hence it is
called “payable”. Since it decreases the asset of the company, it is called a
credit. The complete description to record would then be: Credit Notes Payable
for $50,000
Combining the first and second parts, the complete company
record is:
Debit Cash for $50,000 and Credit Notes Payable for $50,000