Answer:
Explanation:
FV $200,000.00
time 5 years
rate 0.1% = 10/100 = 0.10
C $ 32,759.496
The installment will generate 10% interest overtime and provide with a 200,000 dollar count after six years
Answer:
B. giving loans
Explanation:
The reserve requirement system requires commercial banks to maintain a small fraction of their deposits as a reserve. Only a small percentage of the checkable deposits is required to be held in the banks as reserves. The reserves requirement fractions vary with the monetary policy in place.
The percentage of reserve requirement ranges from 3% to 10%. It would hardly get to 20%. The rest other bigger percentage ( over 80%) is available to be used to create loans.
Answer:
The credit card is the most effective method of payment.
Explanation:
The store will not ship the item until the payment is accredited to their account. Because of this, Jill needs to pick the payment method that have the fastest clear time.
The Check: usually takes about two business days for a deposited check to clear.
Money Order: It depends on the bank. Some banks allow for money orders to be cleared and deposited almost immediately, and some require at least one business day for it to clear.
Credit Card: almost all the time payments can take place immediately.
The obvious choice is Credit Card payment for the instant clear of the funds in the store account.
Answer:
You can say it through a text, a phone call, an email, or a letter.
Explanation:
Answer:
$532.24
Explanation:
Since Mr. Wise will be making monthly payments for the period of 25 years in order to accumulated the $1,000,000 at the end of 25 years, therefore, the future value of annuity shall be used to determine the monthly payments to be deposited by Mr Wise. The formula of future value of annuity is given as follows:
Future value of annuity=R[((1+i)^n-1)/i]
In the given scenario:
Future value of annuity=amount after 25 years=$1,000.000
R=monthly payments to be deposited by Mr Wise=?
i=interest rate per month=12/12=1%
n=number of payments involved=25*12=300
$1,000,000=R[((1+1%)^300-1)/1%]
R=$532.24
