A bank is offering a savings account with an effective annual compound interest rate of 6.50%. The compounding period for the bank is every 2 months. What is the interest rate for the bank account for each 2 month period?
Answers
The interest rate for each 2-month period in the bank account is around 1.08%.
Interest rate = 6.50%
Time duration = 2 months
Calculating compounding periods -
As the compounding period is every 2 months, means the total number of compounding periods is
= 12/2 ( There are 12 months in a year)
= 6
The amount a person pays for borrowing represented as a percentage of the entire loan amount, is called the interest rate.
Calculating the interest rate for each two-month period:
Interest rate per period = Effective annual interest rate / Number of compounding periods
Substituting the values -
= 6.50% / 6
= 0.0650 / 6
≈ 0.0108
or 1.08%
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Related Questions
How does persistence assist a school leaver to become a successful business owner
Answers
Persistence is a key trait that enables individuals to overcome challenges, persevere through setbacks, and stay committed to their goals and aspirations.
Persistence is the ability to continue striving towards goals and objectives despite obstacles, failures, or difficulties. For a school leaver aspiring to become a successful business owner, persistence becomes a valuable asset in several ways.
Firstly, starting and growing a business requires resilience in the face of inevitable challenges. Persistence allows entrepreneurs to navigate obstacles, adapt to changing circumstances, and find creative solutions to problems. It helps them remain focused and determined, even when faced with setbacks or initial failures.
Secondly, building a successful business takes time and effort. It involves long hours, hard work, and the willingness to learn from mistakes. Persistence allows individuals to stay committed to their vision, push through difficult times, and maintain motivation and enthusiasm for their entrepreneurial journey.
Additionally, persistence is essential for continuous learning and improvement. Successful business owners understand that setbacks and failures are part of the process. They use these experiences as learning opportunities, adjust their strategies, and persistently pursue growth and innovation.
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Describe how advanced analytics can contribute to describing the community's needs, defining the right mix of services, and monitoring performance. Other than internal records (financials, EHR, HR), what sources of information should be used? What role does population health play?
Answers
Advanced analytics is an important tool for community healthcare providers to contribute to describing the community's needs, defining the right mix of services, and monitoring performance. Besides internal records such as financials.
Electronic Health Records (EHR), and Human Resources (HR), additional sources of information can be used in community healthcare services.To describe the community's needs, external sources can be used. For instance, community health assessments and surveys can provide valuable information on the health status of the population and their most pressing needs. Such assessments provide comprehensive information on the community's health status, which can be used by healthcare providers to target their resources and interventions more effectively.
Another source of information that can be used is clinical data from local and national health registries, as well as data on health risk factors and social determinants of health. By analyzing this data, healthcare providers can better understand the community's health needs and design interventions that are more effective in addressing them.
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The number of seats a table can have is usually expressed as the number and the word "top". You can have 17, 4-top tables, 28, 2-top tables, 15, 6-top tables and 5, 10-top tables. How many can your restaurant seat?
A) 244 seats
B) 264 seats
C) 288 seats
D) None of the above
Answers
Answer:
B) 264 seats
Explanation:
'Top' is the number of seats per table.
17 tables with 4 seats will have
17 x 4 = 68 people
28 2-top tables
28 x 2 =56 seats
15, 6-top tables
15 x 6 =90 seats
5, 10-top tables.
5x10 = 50 seats
Total number of people who can seat
= 68 + 56 +90 +50
=264 seats
Someone in the 15 percent tax bracket can earn 10 percent annually on his investments in a tax-exempt IRA account. What will be the value of a $16,000 investment in 5 years? 10 years? 20 years? You may use Appendix C to answer the questions. Do not round intermediate calculations. Round your answers to the nearest dollar.
Answers
Answer:
A. $60,653
B. $98,313
C. $136,217
Explanation:
The formula that is used for calculating the annuity value is as under:
Annuity Value in "n" years = Present Value * (1 - (1 + r)^-n) / r
For 5 years:
Annuity Value in "5" years = $16,000 * (1 - (1 + 10%)^-5) / 10%
= $60,653
For 10 years:
Annuity Value in "10" years = $16,000 * (1 - (1 + 10%)^-10) / 10%
= $98,313
For 20 years:
Annuity Value in "20" years = $16,000 * (1 - (1 + 10%)^-5) / 10%
= $136,217
Daniel is organizing a business seminar. He’s writing an email to attract participants. Which sentence would make a good motivational closing for Daniel’s persuasive message?
A. Learn how successful companies hire the best talent!
B. There will be six presentations by human resources experts.
C. Many successful companies use our proven hiring techniques.
D. Register today and get an early bird discount of 20 percent.
E. The keynote address is by Dr. Jenkins, a reputable staffing consultant.
Answers
its D I HAVE THE SAME TEST
Explanation:
3. Describe through the use of T accounts the birth & growth of the Wahoo Bank
Answers
Answer:
Describe through the use of T accounts the birth & growth of the Wahoo Bank is explained below in detailed explanation.
Explanation:
Equipoise T-accounts is one of the more complex and mind gobbling something for many accounting scholars. In this lesson, we're going to discover specifically how to balance a T-account. Surely, by the time you've completed this exercise, this action will be more relaxed for you than ever since. The last portion of the T-account that we require to meet is its amount. An account’s amount is the value of that object at a precise point in time.
In a T-account, we determine the balance of the matter at the origin of the term (month or year) and the conclusion of the period.
The following money market account rates were available from a particular bank. Find the compound amount and the interest earned. $7000 at 1.06% compounded daily for one year
Answers
The compound amount and interest earned, we can use the formula for compound interest: Compound Amount = Principal × (1 + Interest Rate/Number of Compounding Periods)^(Number o Compounding Periods × Time)
Given: Principal (P) = $7000Interest Rate (R) = 1.06% = 0.0106 (expressed as a decimal)Number of Compounding Periods (n) = 365 (compounded daily)Time (t) = 1 year Using the formula, the compound amount is calculated as follows: Compound Amount = $7000 × (1 + 0.0106/365)^(365 × 1) = $7000 × (1.000029041)^365 ≈ $7000 × 1.010 ≈ $7070.32To find the interest earned, we subtract the principal from the compound amount: Interest Earned = Compound Amount - Princi = $7070.32 ≈ $70.32Therefore, the compound amount after one year is approximately $7070.32, and the interest earned is approximately $70.32.
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Which of the following is an example of a real estate investment?
Answers
You are out on your own and you have come into the sad issue of the old car (20+ years old, 150k miles) your parents gave you having a blown transmission unexpectedly. (It really wasn’t. You just put it off because it’s not cheap.) You now have the dubious choice to purchase a new\used car OR to repair the car your parents gave you free and clear. Assume you have a part-time job making $10 an hour at 30 hours a week and a 15% tax rate. Your total living expenses are $700 a month. The repairs for a transmission at $2,500 dollars, which you can finance at 17% interest. A new vehicle would be $20,000 at 10% interest, and a used vehicle would be $9,000 at 12% interest with unknown driver history. Create a flowchart, trace-table, and UML for these options and then in a one-page paper, discuss which you would choose and why. Discuss affordability, reliability, and return on investment.
Answers
I would choose to repair the car with the blown transmission. Despite the upfront cost, it offers affordability since the repair cost is lower than purchasing a new or used car.
In this scenario, repairing the car with the blown transmission is the more prudent choice. While the repair cost of $2,500 may seem significant, it is still more affordable than purchasing a new or used car. With a part-time job earning $10 an hour at 30 hours a week, the monthly income is $1,200 Lastly, the existing car holds sentimental value as it was given by my parents. By repairing it, I can continue to use a vehicle that has personal significance and is already familiar to me. Overall, considering affordability, reliability, sentimental value, and long-term financial benefits, repairing the car is the preferable choice in this situation.
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ANSWER ASAP
People who tend to be shy may be drawn to a career as an on-air personality and will likely be drawn to the arts.
True
False
Answers
Answer: False
Explanation:
People who tend to be shy may actually find it challenging to work as an on-air personality or in any career that involves public speaking or performing. They may be drawn to careers in the arts, but it is not necessarily a given.
Explain the conceptual connections between goodwill, duty, and the categorical imperative.
Answers
The conceptual connections between goodwill, duty and categorical imperative refer to the theory of Transcendental Idealism developed by Imannuel Kant. According to him, the Categorical Imperative corresponds to the way individuals evaluate moral actions and make moral judgments.
Categorical imperative and dutyThe relationship between them occurs according to the theory of goodwill, which relates to human intention and will, which must be to act in accordance with reason to determine the right, which is the duty of individuals.
Therefore, according to Kant, moral law must satisfy the precepts of being universal, impartial and rational, which can be learned by the cognitive processes of human beings.
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The publisher of Celebrity Living claims that the mean sales for personality magazines that feature people such as Megan Fox or Jennifer Lawrence are 1.5 million copies per week. A sample of 10 comparable titles shows a mean weekly sales last week of 1.3 million copies with a standard deviation of 0.9 million copies.
Answers
Answer and Explanation:
The computation is shown below:
For determining each part first we have to do the following calculations
Critical value of t = 3.250
Null hypothesis = 1.5
Alternative hypothesis ≠ 1.5
Population mean \(\mu\) = 1.5
Sample mean \(\bar X\)= 1.30
Sample size \(n\) = 10.00
Sample standard deviation \(s\) = 0.900
Standard error of mean is
\(s_x = \frac{s}{\sqrt{n} }\)
\(= \frac{0.900}{\sqrt{10.00}}\)
= 0.2846
Test static is
\(t = \frac{x - \mu}{s_x}\)
\(= \frac{1.30 - 1.5}{0.2846}\)
= -0.703
a. The null hypothesis is
μ = 1.5
Alternate Hypothesis is
μ ≠ 1.5
b. reject \(H_o\) if t is not between
-3.250 and 3.250
c. The value of the test statistic is
t = -0.703
(as we have computed above)
d. fail to reject \(H_o\) as this data does not contradict the publisher claim
WHAT IS THE WORLDS LARGEST PEANUT 50 points
Answers
Answer:
I AM THE LARGEST PEANUT
Explanation:
Answer:
Unveiled with fanfare on a chilly Friday, Nov. 15, 1974, it's 3 feet long and 18 inches around, crafted of 50 pounds of aluminum and dedicated to the Bryan County Peanut Growers and Processors
1. List four reasons that businesses extend credit.
2. How does using credit benefit businesses and consumers?
Answers
1.Encourage customers to spend more, which can result in increased sales if receivables are turned to cash;
Increase customer goodwill and build good customer relations;
Make your customers less sensitive to price and more focused on the services you offer.
2.Having credit enables consumers to buy goods or assets without having to pay for them in cash at the time of purchase. Having a good credit record means that a person has an established history of paying back 100% of his/her debts on time
2. Benefits for business:
all 4 points aboveCash flow management: Offering credit can help businesses manage their cash flow, as they can receive payment over a period of time rather than all at once.Benefits for consumers:
Purchasing power: Using credit allows consumers to make purchases that they may not have been able to afford with cash, such as items like a home or a car.Convenience: Using credit cards can be more convenient than carrying cash, as consumers do not have to worry about carrying large amounts of cash or making frequent trips to the ATM.Building credit history: Using credit and making payments on time can help consumers build a positive credit history. This in turn can lead to better credit scores and lower interest rates on future loans.Protection against fraud and errors: Credit cards provide protection against fraud and errors, as consumers can dispute unauthorized charges or errors on their statements.For more on credit refer to: https://brainly.com/question/1590835
A computer software firm provides a 20×′30′ office for its six systems analysts and plans to hire two additional analysts. To maintain a 100-square-foot working space per analyst, the firm’s owner-manager is considering expansion. The cost of expansion is $40 per square foot with annual maintenance costs of $4 per square foot. The useful life of floor space is 20 years. By how much should employee productivity increase to justify the additional expenditure? The current salary of the systems analysts is $25,000.
Answers
To justify the additional expenditure of $35,200, the employee productivity should increase by $1,760.
Given: A computer software firm provides a 20×′30′ office for its six systems analysts and plans to hire two additional analysts.The cost of expansion is $40 per square foot with annual maintenance costs of $4 per square foot. The useful life of floor space is 20 years.To maintain a 100-square-foot working space per analyst.
The current salary of the systems analysts is $25,000.
Working space per analyst is 100 sq.ft.
Number of Analysts is 6+2=8
Size of current office = 20 x 30 sq.ft = 600 sq.ft
Office Space required per analyst = 100 sq.ft
Total Space required = Number of Analysts * Space required per analyst
= 8 * 100 = 800 sq.ft
Office space to be added = Space Required - Current Space
= 800 - 600= 200 sq.ft
Cost of expansion = $40 per sq.ft
Annual Maintenance cost = $4 per sq.ft
Useful life = 20 years
Let's find out the total cost of the expansion as follows:
Total Cost of Expansion = (Cost per sq.ft + Annual Maintenance Cost per sq.ft) x New Area + (Cost per sq.ft + Annual Maintenance Cost per sq.ft) x Old Area
where "New Area" is the area of expansion, and "Old Area" is the current area.
Total Cost of Expansion = ($40 + $4) x 200 + ($40 + $4) x 600
= $44 x 200 + $44 x 600
= $8,800 + $26,400
= $35,200
Now, let's find the increase in employee productivity to justify the additional expenditure.
Increase in Employee Productivity = Cost of Expansion / Useful Life of Expansion
Increase in Employee Productivity = $35,200 / 20 years
= $1,760
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A young worker is starting her first job at a research lab. She spent four years
in college getting a degree in biology to prepare her for the career she
wanted. Then, she applied for a job at the lab and negotiated a good salary
for herself after she was hired.
This young worker is most likely part of which economic system?
A. Market economy
B. Command economy
C. Traditional economy
D. Mixed economy
Answers
Answer:command economy
Explanation:
According to the above scenario, the young worker is most likely part of Market economic system. Thus, option (D) is correct.
What is a Market Economy?
Market Economy refers to that kind of the market situation in which the two market forces guide the working of the economy that are supply and demand.
These forces create and destroys the goods and services in the economy. It helps in the determination of the level of the prices of the goods and services. It is made on the free transactions and not by the rule of the government.
According to the above scenario, the young worker is working in the market economy, in which she gets the job and negotiated a good salary.
Therefore, it can be concluded that market economy is the correct option. Thus, option (D) is correct.
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Tell me ten different things a person would need a credit score for? WILL MARK BRAINLIEST DUE TODAY PLEASE HELP 50 POINTS
Answers
Guys I need a little bit of help, please!
Desean sets up his zero based budget and has $175 left after he assigns all of his expenses to each category. What would be a good category for him to put that money in?
Answers
A seller is under contract to sell a property using the standard offer to purchase and contract. The elegantly decorated master bedroom has vertical window blinds, hand-painted light switches and electrical outlet covers and draperies fashioned from fabric coordinated with the wallpaper. Which of the following items may the seller legally remove before the close of the transaction?
a. the draperies and blinds.
b. the hand-painted light switches and electrical outlet covers.
c. the draperies.
d. none of the items.
Answers
Answer: The draperies
Explanation:
Fron the question, we are informed that a seller is under contract to sell a property using the standard offer to purchase and contract.
The seller can legally remove the draperies before the close of the transaction. It should be noted that under the NCBA/NCAR contract , all other items in the list are regarded as fixtures that are meant to remain along with the property but the draperies is not listed among them and therefore may be removed.
please help
Arthur showed up five minutes late to his job interview. His interviewer will likely wonder whether he possesses which important business skill?
Group of answer choices
punctuality
responsibility
integrity
ability to follow a schedule
Answers
Answer:
D) ability to follow a schedule
Answer:
Punctuality
Explanation:
I took this test, and this was the right answer
The catapult systems repair crew on an aircraft carrier is responsible for repairing the system that launches the aircraft from the carrier. no two repairs are alike, and because pilots' lives are at stake, quality is imperative. repair personnel often have to develop creative solutions on the spot instead of depending on standard procedures. as a result, the most effective structure for the catapult systems repair crew is a(n) ________ structure.
Answers
Answer: Organic Structure
Explanation: Organic Structure may be explained as a type of organizational structure which often promotes creativity, being proactive and flexible decision making due to the unstable and dynamic nature of the work environment and problem the organization has to solve. In the scenario above, due to the risky nature of the task at hand, catapult repair crews do not posses the luxury of time to follow rigid orders, rules or follow a centralized model of problem solving. Therefore, a decentralized model is often adopted in other to afford the repair crew to use their tactical nous, experience and creative ability to approach, tackle and provide quick and quality solutions to lingering problems.
how can government create more employment
Answers
Answer:
The government can create more employment by Reducing Interest Rates.
Answer:
Reducing Interest Rates.
Explanation:
Why do you think it is important to understand GDP?
Answers
PLEASE HELP ME I NEED HELP!!!!!!
Which of these factors would NOT cause the demand curve for a particular good to shift?
Group of answer choices
a change in the costs of a necessary factor of production
a change in the number of consumers in the market
a change in the level of consumer income
a change in consumer preference
Answers
Answer:
a change in the level of consumer income
Explanation:
i did the problem recently :)
Which of the following individuals is using stress management techniques?
A.
Preston gets really stressed if he gets behind so he will occasionally stay late after work in order to stay on schedule.
B.
Emily used to get really nervous asking her boss questions, but then she changed her perception when she realized her boss appreciates her asking questions.
C.
Zach always plays basketball with co-workers after they have a stressful day.
D.
All of the above
Answers
Answer:
C because zach is demonstrating a task he can do to release some stress
Explanation:
If its really not C which it should be, then try D :)
What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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Which of the following is NOT an example of an explicit cost? Multiple Choice The income the owner could have earned in his or her next best employment opportunity. The salaries paid to the managers who help run the business. The overtime wages paid to workers. The rent the owner pays each month to lease office space.
Answers
Answer:
The income the owner could have earned in his or her next best employment opportunity.
Explanation:
Explicit cost includes all the amounts expended in running the business. It is used in calculating accounting profit. Examples are wages, rent, cost of equipment
The income the owner could have earned in his or her next best employment opportunity is an example of an implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. It is used in calculating economic profit.
If sales and average operating assets for Year 2 are identical to their values in Year 1, yet operating income is higher, Year 2 return on investment (compared with Year 1 ROI) will
a. decrease.
b. increase.
c. stay the same.
d. The direction of change in ROI cannot be determined by this information.
Answers
d. The direction of change in ROI cannot be determined by this information. Return on investment (ROI) is calculated by dividing operating income by average operating assets.
If sales and average operating assets for Year 2 are identical to their values in Year 1, then the denominator of the ROI formula (average operating assets) will remain unchanged. However, if operating income is higher in Year 2, then the numerator of the ROI formula (operating income) will increase. Whether the ROI will increase or decrease depends on the magnitude of the change in operating income relative to the operating assets. Without knowing this information, we cannot determine the direction of change in ROI.
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Jana has $100 to open a checking account. she can maintain a monthly balance of $300. she also has a savings account at the same bank. she plans to use online bill paying and write fewer than 10 checks per month. she currently uses her bank’s atm several times per month. jana does not overdraw her account. bank account terms and conditions bank account terms and conditions. bank b is best for jana. jana wants an account with the lowest fees. which checking account would be best for jana? account a account b account c account d
Answers
Bank account is opened in bank to save/ deposit money and generate interest from it. Jana should choose account b.
What is a bank account?It is an account in bank where money deposited, and it can be withdrawn by check or passbook and bank gives interest on deposit. A bank provides Current, Savings, Fixed Deposit Accounts, Recurring Deposits facilities.
It is better for Jana to choose account b as the minimun balance required is $250, and it charges 0 for ABC bank ATMs and check writing limit is more, i.e. 12/ month.
Therefore, Jana should choose account b.
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Answer:
account b
Explanation:
What does the doctrine of respondeat superior provide?
Answers
Answer:
The Respondeat Superior doctrine is a legal doctrine that establishes a rule for the adjudication of responsibilities in the event of damages or breaches in a situation in which there is a relationship of dependency between a superior and a dependent. Thus, this doctrine establishes that the superior will be responsible for the actions of his dependent, that is, in the event of non-compliance or damage by the latter (provided that said damage or non-compliance occurs in the exercise of their functions) the responsibility will assumed by the superior.