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katovenus [111]
3 years ago
5

You have $5,400 to deposit. If you deposit the money in a savings account at your local bank, you will earn 1.49% annual interes

t and will be able to make ATM withdrawals at your bank’s ATMs. If you deposit the money in an online savings account, you will earn 4.44% annual interest, but you will be charged $5 every time you make an ATM withdrawal. Assuming that your ATM withdrawals do not reduce the amount of interest you earn, roughly how many times a year can you make an ATM withdrawal in order for the local savings account to be a better deal than the online savings account? a. 32 b. 27 c. 22 d. 15
Business
1 answer:
likoan [24]3 years ago
3 0
$5,400 × 0.0149 = $80.46
$5,400 × 0.0444 = $239.76

$239.76 − $80.46 = $159.30

$159.30 / ($5/withdrawal) = 31.86 withdrawals

Answer: a. 32
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Explanation:

You can use Excel to calculate this.

The bond is a semi-annual bond so you need to adjust the variable for this first.

Number of periods = 25 * 2 = 50 semi-annual periods

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The liquidity trap refers to the
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A liquidity trap is a situation in which interest rates are low and savings rates are high. It occurs when  monetary policy becomes ineffective because, despite zero/very low-interest rates, people want to hold cash rather than spend or buy illiquid assets

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The _____ is a law passed in 1914 that seeks to prevent practices that may cause injury to customers, that cannot be reasonably
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2 years ago
Which term best completes the outline?
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C. Market.

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Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Free market economy.

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

The four (4) main elements or characteristics of a free enterprise system includes the following;

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b. Economic freedom: means of production of goods and services are controlled by the people rather than the government. Thus, the producers are free to make their economic choices or decisions such as deciding on how much is to be charged on a product.

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In conclusion, a market is characterized by the following economy;

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II. Competition between businesses

III. Decisions motivated by profit

5 0
3 years ago
Changing prices to attract customers is most difficult in a
dsp73
Changing prices to attract customers is most difficult in a "<span>purely competitive market"

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