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scoray [572]
3 years ago
6

How are credit unions different than banks?

Business
1 answer:
dusya [7]3 years ago
8 0

Answer:

Commercial banks are for-profit and credit unions are not-for-profit.

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If 1200 dollars is invested at an annual interest rate r compounded monthly, the amount in the account at the end of 3 years is
9966 [12]

Answer:

a. When r = 4 percent, the rate of change is 22.10%.

b. When r = 7 percent, the rate of change is 41.76%.

Explanation:

Note: This question is not complete the required values of r is omitted. To complete the question, these values are therefore provided before answering the question as follows:

Find the rate of change of the amount A with respect to the rate r for the following values of r:

a. r = 4 percent

b. r = 7 percent

The explanation of the answer is now given as follows:

The A given is correctly stated as follows:

A = 1200 * (1 + ((1/12) * r))^60 ……………………….. (1)

Therefore, we have:

a. When r = 4 percent

Substituting r = 4% into equation (1), we have:

A = 1200 * (1 + ((1/12) * 4%))^60 = 1200 * 1.22099659394212 = 1465.20

Rate of change = (A - Amount invested) / Amount invested = (1465.20 - 1200) / 1200 = 0.2210, or 22.10%

Therefore, when r = 4 percent, the rate of change is 22.10%.

b. When r = 7 percent

Substituting r = 7% into equation (1), we have:

A = 1200 * (1 + ((1/12) * 7%))^60 = 1200 * 1.41762525961399 = 1701.15

Rate of change = (A - Amount invested) / Amount invested = (1701.15 - 1200) / 1200 = 0.4176, or 41.76%

Therefore, when r = 7 percent, the rate of change is 41.76%.

7 0
3 years ago
What will happen to the market value of a bond if interest rates decrease?
enot [183]

Answer:

b. The market value will increase

Explanation:

In the case when the rate of the interest decrease so the market value of the bond would be increased. As the market value of the bond and the rate of interest has an inverse relationship between them. In the case when the rate of interest increased than the market value of the bond decreased and vice versa

Therefore option b is correct

8 0
3 years ago
when gathering information, which of the following tasks might you need to perform? a. fill out forms, follow procedures, and ap
Keith_Richards [23]

Answer:

Study objects, conduct tests, research written materials, and ask questions

3 0
3 years ago
Read 2 more answers
xcel how many months can a life insurance policy normally be backdated from the date of the application
belka [17]

6 Months can be a life insurance policy normally be backdated from the date of the application.

For Example:- Suppose, he/she purchased a policy with maturity duration of 20 years in March 2022 and backdated it to October 2021, the maturity benefits of the endowment policy can be reaped a year before in October 2041 than the initial date in March 2042.

#SPJ4

4 0
1 year ago
When choosing fonts for a powerpoint slide, you should usually use?
Wittaler [7]
30pt font is the smallest you ever want to use in a slide, 

experts recommend keeping it simple, they also advise against using common fonts like Arial, Calibri or Helvetica. 

your font style should match the tone and message of your presentation
5 0
3 years ago
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