Answer:
The correct answer is C
Explanation:
Savings account is the kind of deposit account which is held at the retail bank and that pays the interest but cannot be use directly as money is at the narrow sense of the medium of exchange.
This account help the customers or people to set aside the portion of their liquid assets when earning a monetary return. And this account does not charge any fee for depositing as well as cashing the paycheck into the saving account.
Therefore, the statement which is false is that the customer have to pay a fee for depositing or cashing.
Answer:
sunk cost
Explanation:
Sunk cost -
It refers to the amount of money which is spend and can never be recovered back , is referred to as the sunk cost.
During the process of making any future decision , sunk money is never taken into consideration.
Hence, it differs from the future costs.
Therefore , from the scenario of the question,
The correct term is sunk cost.
record the adjustment for interest due for one month's worth of interest
Interest=( 2400×5/100)×1/12
= $10
In finance and economics, hobby is a price from a borrower or deposit-taking economic group to a lender or depositor of an amount above reimbursement of the major sum (that is, the quantity borrowed), at a specific price. It is awesome from a charge that the borrower may additionally pay the lender or some 1/3 party. It's also distinct from a dividend that is paid by a business enterprise to its shareholders (proprietors) from its earnings or reserve, however not at a specific fee decided in advance, rather on a seasoned-rata foundation as a percentage inside the praise gained by using threat-taking entrepreneurs while the revenue earned exceeds the overall expenses. For example, a consumer could normally pay interest to borrow from a financial institution, so they pay the financial institution an amount that is more than the amount they borrowed, or a customer can also earn hobby on their savings, and so they'll withdraw extra than they firstly deposited. In the case of savings, the patron is the lender, and the bank plays the position of the borrower.
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