All categories

3 years ago

Which list includes the most important factors to consider when opening a savings account?

Business

1 answer:

Svetach [21]3 years ago

6 0

Answer: a. The fees, the interest rates, and the minimum deposit to open the account.

Explanation:

It is important that when opening a savings account, one looks at the financial requirements as well as the gain to them.

They should look at how much they are to pay to maintain the account in terms of bank fees to know if it is an unreasonable figure.

They should look at the interest rates to find out how much their money would increase by. If it isn't high enough, they can leave it.

They should also look at the minimum deposit required so that they are sure of the amount to put in to activate the account.

You might be interested in

RequiredIndicate the effect of each of the following transactions on (1) the current ratio, (2) working capital, (3) stockholder

notsponge [240]

Find the given attachment

4 0

3 years ago

Why might you complete a 1040 instead of a 1040EZ?

Ad libitum [116K]

The 1040EZ is easier with less to do. It is for single or married without children. The 1040 is for married with dependants ( children), business owners, etc.

4 0

3 years ago

Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the

artcher [175]

Answer:

a. Journal Entry on September 1st, 2019:

Dr: Cash/ Bank $50,000

Cr: Short Term Loan $50,000

b. Journal Entry to accrue interest on December 31st, 2019 is:

Dr: Interest Expense $1,333.33

Cr: Accrues Interest Expense $1,333.33

c. Interest Expense on March 31st, 2020 is :

$1,000

d. The Total cash company will pay back on March 31st 2020:

52,333.33 (50,000 principal + 2,333.33 interest)

Explanation:

b. Annual Interest is $50,000×8% = $4,000 per annum.

The annual interest rate is prorated for 4 months (Sept 2019 -Dec 2019)

$4,000 *4/12 = $1,333.33

c. Interest expense for next fiscal year up till March 2020 is calculated by prorating annual interest expense for 3 months (Jan 2020- Mar 2020)

$4,000×3/12 = $1,000

8 0

3 years ago

In the 1990s, Philips Electronics developed a new consumer electronics product called the Digital Compact Cassette (DCC) player.

9966 [12]

Answer:

compatibility

Explanation:

The Digital Compact Cassette is an innovation that is showing compatibility because it is not only bringing something new to the customer (the ability to record and playback), but also giving the customer the possibility of playing old cassette tapes in the new format.

In simple words, the DCC is compatible with older tapes, which gives it no only a value as a new product, but also a value as a product that replaces and old product (which is not necessarily the same, many new products do not replace old product, the old product simply disappears).

4 0

4 years ago

Which ratios help assess the firmâ€™s ability to meet cash needs as they arise?

Tom [10]

Answer:

Option A Current Ratio

Explanation:

The reason is that current ratio gives information from which source of finance the working capital is funded from. If the answer is below 1 then the short term liabilities are used to finance the short term assets. This also tells whether or not the company possesses enough cash and cash equivalents to fund its future cash needs by comparing its result with past data and the industry average. So the right option is option A.

6 0

4 years ago