What do you want to be when you grow up?
It is best that when teenagers get an account, that they get one that has no fees because they have a limited amount of money coming in.
In general, teenagers don't earn a lot of money, any bank account that they get therefore, should be one that doesn't reduce this little amount of money that they get.
It is therefore best that teenagers try to find accounts that have little or reduced fees. To this end, some banks offer teenage savings accounts that:
- Don't charge for ATM withdrawals
- Don't charge for transactions on a debit card
In conclusion, teenagers should try to get accounts that do not have fees attached so as not to reduce the limited income they probably get.
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Answer: $1,274
Explanation:
Credit terms of 2/12, n/30 mean that the buyer is allowed a 2% discount if they pay in 12 days otherwise they would have to pay the full figure in 30 days.
Borth returned $300 so the net merchandise value they bought it;
= 1,600 - 300
= $1,300
Check was sent within discount period;
= 1,300 * ( 1 - 2%)
= $1,274
Answer:
$5,793.40
Explanation:
The amount you invest is called the Principle Value (PV). Therefore the question requires us to determine the Principle Amount that will pay you a lump sum of $30,000 25 years from today.
<em>FV = $30,000</em>
<em>N = 25</em>
<em>PMT = ($1,000)</em>
<em>P/Yr = 1</em>
<em>I = 6 %</em>
<em>PV = ?</em>
Using a Financial Calculator to input the values as shown above, the Principle Value (PV) is calculated as $5,793.40.
Therefore, you will be willing to invest $5,793.40 today to have this investment in your portfolio
Answer:
56
Explanation:
The rule of 70 can be used to determine the amount of years it would take the GDP of a country to double given its growth rate
Number o year for GDP to double = 70 / growth rate of country
for country A = 70 / 5 = 14 years
for country B = 70 / 1 = 70 years
70 years - 14 years = 56 years
