Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers 18% interest compounded semiannually. Four Rivers offers 16% interest compounded quarterly. Melvin has $11,400 to invest. He expects to withdraw the money at the end of 4 years. Calculate interest for each bank and identify which bank gives Melvin the better deal? (Use the Table provided.) Note: Do not round internediate calculations. Round your answers to the nearest cent. Mystic Four Rivers Better deal
Interest ____ ______ _______
Answers
Mystic Bank: $11,391.87 interest earned.
Four Rivers Bank: $9,513.76 interest earned.
Better deal: Mystic Bank.
To calculate the interest earned by Melvin at each bank, we can use the formula for compound interest:
A = \(P(1 + r/n)^{nt}\)
Where:
A = the future value of the investment
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times that interest is compounded per year
t = the number of years
Let's calculate the interest earned at each bank:
For Mystic Bank:
Principal (P) = $11,400
Interest rate (r) = 18% = 0.18
Number of times compounded per year (n) = 2 (semiannually)
Number of years (t) = 4
A = 11,400 * (\(1 + 0.18/2^{2*4}\))
A ≈ $11,400 * (\(1.09^{8}\))
A ≈ $11,400 * 1.999534
A ≈ $22,791.8
Interest earned = A - P = $22,791.87 - $11,400 ≈ $11,391.87
For Four Rivers Bank:
Principal (P) = $11,400
Interest rate (r) = 16% = 0.16
Number of times compounded per year (n) = 4 (quarterly)
Number of years (t) = 4
A = 11,400 * (\((1 + 0.16/4)^{4*4}\))
A ≈ $11,400 * (\(1.04^{16}\))
A ≈ $11,400 * 1.834881
A ≈ $20,913.76
Interest earned = A - P = $20,913.76 - $11,400 ≈ $9,513.76
Therefore, Melvin would earn approximately $11,391.87 in interest at Mystic Bank and approximately $9,513.76 in interest at Four Rivers Bank. Hence, the better deal for Melvin is Mystic Bank, as it offers a higher interest rate and would result in higher earnings.
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Related Questions
Joe can read 7 page of hi book in 5 minute. At thi rate, how long will it take him to read the entire 275-page book?
Answers
Joe will need about 196.43 minutes minutes to read the entire 275-page book.
We can use the formula rate = distance/time to calculate this. The distance is the number of pages in this case, and the time is the amount of time it takes to read those pages.
We know Joe can read 7 pages in 5 minutes, so we can use these values to calculate how long it will take him to read 275 pages: rate = 275 pages / time.
We get time = 275 pages / 7 pages per 5 minutes when we solve for time.
275/7=39.286
pages per 5 minutes= 39.286 *5=196.43 minutes
Converting the time from minutes to hours, we get that it will take Joe
1 hour = 60 minutes
= 196.43/60
=3 hours 16 minutes
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Assume a corporation has earnings before depreciation and taxes of $85,000, depreciation of $40,000, and that it has a 30% combined tax bracket. What are the after-tax cash flows for the company? Mult
Answers
The after-tax cash flows for the company amount to $71,500.
To calculate the after-tax cash flows, we need to consider the earnings before depreciation and taxes (EBDT), depreciation, and the combined tax bracket.
Given that the corporation has EBDT of $85,000 and depreciation of $40,000, we can calculate the taxable income by subtracting depreciation from EBDT:
Taxable Income = EBDT - Depreciation
= $85,000 - $40,000
= $45,000
Next, we calculate the tax liability by applying the tax rate of the 30% combined tax bracket to the taxable income:
Tax Liability = Taxable Income * Tax Rate
= $45,000 * 0.30
= $13,500
Finally, we determine the after-tax cash flows by subtracting the tax liability from the EBDT:
After-Tax Cash Flows = EBDT - Tax Liability
= $85,000 - $13,500
= $71,500
Therefore, the after-tax cash flows for the company amount to $71,500.
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4. Marsha qualifies for the recovery rebate credit of $500 for Shelby. True are false
Answers
Answer:
The answer is "False".
Explanation:
In this question, the given statement is false because the maximum claim for rewards by Economic Repercussions is \(\$ 1200 \ \ and\ \ \$ 2400\) Return filed in connection with this), plus \(\$ 500\) for children under the CARES Legislation and the Economic Consequences Payment. Consequently, Marsha is liable for Shelby's \($1200\) recovery reimbursement credit.
when the government redistributes income from the wealthy to the poor,
Answers
Which educational options are especially useful for technical workers like Carpenters and Electricians? Check all that apply. career colleges apprenticeships associate degrees bachelor’s degrees
Answers
Answer:
A and B
Explanation:
I took the test
Answer:
the correct answer is A and B
Explanation:
Identify the three key roles of the scrum process.
multiple select question.
a. Product owner b. Development team c. Product champion
d. Technical lead e. Scrum master
Answers
The three key roles of the scrum process includes a. Product owner, b. Development team, e. Scrum master.
What do Scrum processes entail?Scrum is an agile software development methodology that relies on incremental and iterative processes. Scrum is an agile framework that is quick, flexible, adaptable, and effective and is made to provide value to the client throughout the course of the project.
Scrum is a particular kind of agile framework. It is a framework within which people can address complex adaptive problems while maintaining the highest levels of productivity and creativity in the product they deliver. Iterative process is used in Scrum.
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Mangelo restaurant had liabilities with a carrying value of $425,000 and fair value of $600,000. How should mangelo report these liabilities on the balance sheet?.
Answers
Mangelo restaurant had liabilities with a carrying value of $425,000 and a fair value of $600,000. Mangelo should report the liabilities at the carrying value and disclose the fair value of the liabilities in a note to the financial statements.
A liability is something that a person or company owes, usually a monetary amount. Liabilities are settled over time by transferring economic benefits such as money, goods, or services. Liabilities on the balance sheet include loans, accounts payable, mortgages, delayed revenues, bonds, warranties, and non-interest expenses.
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How does insurance fraud create higher overall prices for everyone?
Ya girl is stuck, i need help
Answers
Answer:
Auto insurance fraud affects all drivers because insurance companies determine their rates, at least partially, based on losses.
Which of the following results from the fact that a free market system is based on the free choices of consumers and producers? O A. Consumers and producers are often the same people. O B. Goals such as security and efficiency cannot be met. () C. The free-market system has a circular flow of influences. C D. The government can only command, but not plan, the economy.
Answers
The free-market system has a circular flow of influences. This is because in a free market system, consumers are free to choose what they want to buy and producers are free to choose what they want to produce. The answer to the question is C.
The interaction between these two groups creates a circular flow of influences, where the choices made by consumers influence the production decisions made by producers, and the decisions made by producers influence the choices made by consumers. This circular flow of influences is what drives the free market system and allows it to function efficiently. It is important to note that in a free market system, the government's role is limited. The government cannot plan the economy, but it can provide a framework of laws and regulations that help ensure fair competition and protect consumers.
Overall, the fact that a free market system is based on the free choices of consumers and producers is what makes it such a powerful force for economic growth and innovation. By allowing individuals to make their own choices and create their own businesses, the free market system encourages creativity, innovation, and competition, which ultimately benefits consumers and the economy as a whole. The answer to the question is C.
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The practice of businesses paying bloggers to write positive comments about the business is called ______.
Answers
The practice of businesses paying bloggers to write positive comments about the business is called "astroturfing."
The term comes from the brand name AstroTurf, which is a type of artificial grass often used on sports fields. Just as AstroTurf is intended to create the impression of a lush, green lawn, astroturfing is intended to create the impression of a grassroots movement or genuine public support for a business or product.
Astroturfing is considered a form of deceptive marketing, as it seeks to mislead consumers and shape their opinions by presenting them with biased or false information. Many countries have laws and regulations that prohibit astroturfing and other forms of deceptive marketing practices, and businesses that engage in such practices can face legal and reputational consequences.
As such, it is important for businesses to be transparent and honest in their marketing practices, and to foster genuine connections and relationships with their customers and stakeholders.
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Which of the following financial institutions does not take customer
deposits?
A. Investment bank
B. Credit union
C. Commercial bank
D. Savings bank
Answers
Option (A) Investment bank is correct.
Investment bank does not take customer deposits.
What meant by Investment bank?Investment banks are financial institutions that sell their services and act as a middleman in complex transactions like mergers or a startup's initial public offering (IPO). They are also capable of acting as brokers or financial advisers for significant institutional clients like pension funds.
Investment banks do not accept deposits; rather, they help individuals, groups, and governments raise money by issuing securities. Investment companies, often known as mutual fund companies, pool money from institutional and ordinary investors to offer them access to a greater variety of assets. While some financial institutions take deposits, others only offer particular banking services. These non-depository financial institutions include brokerage houses, finance companies, insurance companies, and pension funds. They provide services to both people and companies.
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A household consists of a married couple, their two-year-old daughter. the couple's daughter has no income and lived with her parents all of last year. How many exemptions can the couple claim on last year's tax return if they file with the married filling jointly status
Answers
The total number of exemptions the couple can claim on their last year's tax return if they file with the married filing jointly status would be three. Option D
How many exemptions can the can the couple claim on last year's tax returnFor tax purposes, an exemption is a deduction from an individual's taxable income for themselves and their dependents. In the given scenario, the household consists of a married couple and their two-year-old daughter. The couple can claim one exemption for themselves and one exemption for their daughter, as she is their dependent and has no income.
Therefore, the total number of exemptions the couple can claim on their last year's tax return if they file with the married filing jointly status would be three (one for each spouse and one for their dependent daughter).
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How long does an inquiry stay on your credit report.
Answers
Answer:
Two years
Explanation:
Hard inquiries stay on your credit reports for two years before they fall off naturally. If you have legitimate hard inquiries, you'll likely need to wait until the 24-month period is over to see them disappear. Not all hard inquiries impact credit scores.
The forecast was 70 units for the current period while actual demand was 76. the forecast for the next period is 75.8. what is alpha if a simple exponential smoothing forecast method is being used?
Answers
Answer:
To find the value of alpha in a simple exponential smoothing forecast method, we can use the following formula:
alpha = (actual demand - forecast for current period) / actual demand
Plugging in the values from the problem, we get:
alpha = (76 - 70) / 76 = 6 / 76 = 0.0789
Thus, the value of alpha in this case is approximately 0.0789.
Which of the following statements regarding the Dreamliner 787 is NOT true?A) Boeing has found partners in over a dozen countries.B) The new aircraft incorporates a wide range of aerospace technologies.C) The new aircraft uses engines from not one, but two manufacturers.D) Boeing is only sourcing 787 components from suppliers in countries that have agreed not topurchase planes from Airbus.E) Boeing's enormous global supply chain delivers more than a billion parts and subassembliesto Boeing plants every year.
Answers
The statement that is NOT true is D) Boeing is only sourcing 787 components from suppliers in countries that have agreed not to purchase planes from Airbus.
This statement is false because Boeing sources components for the Dreamliner 787 from suppliers all around the world, regardless of their relationship with Airbus. The other statements are true, including the definition of Dreamliner 787 as a commercial airplane manufactured by Boeing, the incorporation of aerospace technologies, the involvement of multiple manufacturers, including engine manufacturers, the explanation of Airbus as a competitor in the aerospace industry, and the importance of a global supply chain in delivering parts and subassemblies to Boeing plants.
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Susie and Cara sell stoves at Elliott’s Appliances. Together they sold 180 stoves in January. Susie sold 5 times as many stoves as Cara. How many stoves did each sell?
Answers
Answer:
Sara sold 30 stoves and Susie sold 150 stoves.
Explanation:
5x + x = 180
6x = 180
6x ÷ 6 = 180 ÷ 6
x = 30 (stoves ) - Cara sold.
30 × 5 = 150 (stoves ) - Susie sold.
Explain the criticisms of labor unions today. 25 POINTSS
Answers
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
SAMPLE RESPONSE ANSWERS WILL VARY
HOPE THIS HELPS!!!! :)
<3333333333333
Taxable income
Rate
$0 — $9,52510.0%
$9,526 — $38,70012.0%
$38,701 — $82,50022.0%
$82,501 — $157,50024.0%
$157,501 — $200,00032.0%
$200,001 — $500,00035.0%
$500,001 or more37%
Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario.
Poornima’s Tax Scenario
Poornima is a professional with taxable income of $64,700.
What is Poornima’s total tax liability? (Note: Round your answer to the nearest cent, if necessary.)
What is Poornima’s top marginal tax rate?
What is Poornima's average tax rate?
Answers
Poornima's total tax liability is $9,248.
Poornima's top marginal tax rate is 22.0%
Poornima's average tax rate is 14.3%.
Poornima is a professional with taxable income of $64,700.
Using the tax table provided, we can find Poornima's total tax liability by breaking up her income into the applicable ranges, computing the tax for each range, and summing the results. For taxable income of $38,701–$82,500, we use the rate of 22.0%. This range covers the first $25,200 of Poornima's income.
The tax liability for this range is:$(25,200) * 0.22 = $5,544
For taxable income of $9,526–$38,700, we use the rate of 12.0%. This range covers the next $29,174 of Poornima's income.
The tax liability for this range is:$(29,174) * 0.12 = $3,501
For taxable income of $0–$9,525, we use the rate of 10.0%.
This range covers the final $2,026 of Poornima's income. The tax liability for this range is:$(2,026) * 0.10 = $203 Poornima's total tax liability is:$5,544 + $3,501 + $203 = $9,248
Therefore, Poornima's total tax liability is $9,248. Poornima's top marginal tax rate is 22.0% because she falls into the $38,701 - $82,500 range where that is the highest tax rate.
Poornima's average tax rate is 14.3% which is calculated as total tax liability ($9,248) divided by her taxable income ($64,700) multiplied by 100:($9,248 / $64,700) x 100 = 14.3%
Therefore, Poornima's top marginal tax rate is 22.0% and her average tax rate is 14.3%.
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Three roads lead into a stadium's parking areas. Each road has four lanes (two in each direction) with a capacity of 1,000 vehicles/lane/hour. If 10,000 vehicles are expected for a game, how long will it take for all of them to enter the parking areas?
Answers
Answer:
Option A
Explanation:
The complete question is
Three roads lead into a stadium's parking areas. Each road has four lanes (two in each direction) with a capacity of 1,000 vehicles/lane/hour. If 10,000 vehicles are expected for a game, how long will it take for all of them to enter the parking areas?
a) 2 hours
b) 1 hour
c) 1 hour and 40 minutes
d) 90 minutes
Solution
There are four lanes.
Capacity of one lane is equal to 1,000 vehicles/lane/hour.
Let us say that each lane will provide access to equal number of vehicles
Thus, each lane will allow 10,000/4 = 2500 vehicles per hour
Time taken by 2500 vehicles on road to reach parking is equal to 2.5 hours.
The nearest answer to this option A i.e two hours
Suppose a certain home improvement outlet knows that the monthly demand for framing studs is 2,700 when the price is $4.19 each but that the demand is 3,500 when the price is $3.95 each. Assuming that the demand function is linear, write its equation. Use p for price (in dollars) and q for quantity
Answers
This is the equation for the linear demand function of framing studs.
To write the demand function equation, we can use the point-slope form of a linear equation, which is:
(q - q₁) = m(p - p₁)
Where:
q = Quantity demanded
p = Price
(q₁, p₁) = Given point on the demand curve
Given that the demand for framing studs is 2,700 when the price is $4.19 each (q₁ = 2700, p₁ = 4.19) and the demand is 3,500 when the price is $3.95 each (q₂ = 3500, p₂ = 3.95), we can substitute these values into the equation:
(q - 2700) = m(p - 4.19)
Now we can calculate the slope (m) using the two points:
m = (q₂ - q₁) / (p₂ - p₁)
= (3500 - 2700) / (3.95 - 4.19)
= 800 / (-0.24)
= -3333.33 (approximately)
Substituting the slope and one of the points back into the equation, we have:
(q - 2700) = -3333.33(p - 4.19)
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A physical item that can be touched is called
Answers
Answer:
Persom
Explanation:
Which outside agencies might set quality control standards in some industries?
0000
CEOs
A company's department head
Local health and safety inspectors
A government regulatory agency
Industry leaders
Answers
The outside agencies might set quality control standards in some industries is A government regulatory agency.
What is the function of the government regulatory agency?The function that can be attributed to the government regulatory agency is that they help in regulation of the standards as well as making the company to complies with the rules that is been set up so that the people as well as the environment can be protected.
It should be noted that this agency do monitor those companies so that they can follow the strict rules in making their products.
Therefore, option 3rd is correct.
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Answer:
government regulatory agency, safety inspectors, and industry leaders
Explanation:
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Which statement BEST argues that stock markets can be good for society?
The stock market helps people earn money without having to pay any taxes on their income.
The government requires all companies to participate in the stock market
The stock market allows individuals to invest money and create more money.
Answers
Answer:
C
Explanation:
Answer:
C.
The stock market allows individuals to invest money and create more money.
Explanation:
How is a credit union different from a bank?
O Acredit union offers services to companies instead of individuals.
A credit union only offers credit, it does not store money.
Acredit union is usually larger than a bank.
O A credit union is owned by its customers.
Answers
Answer:
a credit union is owned by its costumers (D)
Explanation:
i took the assignment!!
If the job outlook for your career is growing, you are certain to get a job once you graduate.
True or False
Also I need some help with my other recent questions please.
Answers
Answer:
true, because if you have that strength to do anything you'll be able to♥️♥️
A car manufacturing company stocks adequate quantities of cleaning supplies for its shop floor at any given point of time. the cleaning supplies held by the company is an example of the _____.
Answers
A car manufacturing company stocks adequate quantities of cleaning supplies for its shop floor at any given point in time. The cleaning supplies held by the company are an example of the MRO.
MRO inventory consists of gadgets which include workplace elements and forms, toilet paper, cleaning materials, and equipment and elements needed to restore machines. gadgets that can be sold from providers to apply within the production of a product are called uncooked materials.
MRO inventory refers to everyday elements, spare elements, and other materials wanted for habitual maintenance, repair, and operations (or MRO). This stock is essential for the easy strolling of an enterprise. However, in contrast to uncooked substances, this stock does now not a daily part of completed goods presented daily day-to-day.
MRO (maintenance, repair, and Operations) is an umbrella time period protecting all upkeep parts used for repairs or daily support production operations. Even as they are classed as indirect purchases, this procurement category performs an essential role in day-to-day operations.
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Leadership development is the process which helps expand the capacity of individuals to perform in leadership roles within organizations. Leadership roles are those that facilitate execution of an organization's strategy through building alignment, winning mindshare and growing the capabilities of others.
Mentoring, training and organizational planning, with individual activities such as job rotation, job shadowing and project leadership, are often components of effective leadership development programs.
If you were to design the perfect leadership development plan, what would your design include? How would you know whether it was effective?
Answers
An effective leadership development program should be designed with certain components such as mentoring, training, organizational planning, job rotation, job shadowing, and project leadership.
1. Identify leadership skills and competencies: The first step in developing a leadership development program is to identify the leadership skills and competencies that are needed. This can be done through a job analysis or by looking at successful leaders within the organization.
2. Create a leadership development plan: Once the leadership skills and competencies have been identified, a leadership development plan can be created. This plan should include mentoring, training, and organizational planning, as well as individual activities such as job rotation, job shadowing, and project leadership.
3. Implement the plan: The next step is to implement the leadership development plan. This can be done through workshops, seminars, and coaching. It's important to provide opportunities for participants to practice their skills in real-life situations.
4. Evaluate the program: Finally, the effectiveness of the leadership development program should be evaluated. This can be done through feedback from participants and their managers, as well as through performance reviews. If the program is effective, participants should show improvement in their leadership skills and competencies.
Overall, a successful leadership development program should help expand the capacity of individuals to perform in leadership roles within organizations. It should facilitate execution of an organization's strategy through building alignment, winning mind share and growing the capabilities of others.
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PLEASE HELP (this is just to add the 20 characters so i can ask this)
Answers
The letter A is represented where the amount of $20 should be written.
The letter D is represented where the amount of $36 should be written.
The ending balance E is $154.85.
What are debit and credit?Debit entries for accounts show money moving into them, whereas credit entries indicate money moving out of them. Money is transferred from credited to debited accounts with each transaction. Credits are contrary to debits.
In a typical journal entry, all debits are reported on the top lines, followed by all credits on the line below the debits. The ability to obtain money, as well as goods or services, on credit with the assumption that payment will be made later is referred to as credit.
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Which view is used to enter data into an Access table by default?
Datasheet
Grid
Design
Layout
Answers
The answer is Datasheet.
What is the datasheet view?A web datasheet view in an Access app displays online data arranged in rows and columns in a web browser. It can allow data edits or not, as you prefer. When you create a web datasheet view in Access, it opens in Design View, where you can set the record source.
Which view is used to display the data of the table?In relational databases, data is structured using various database objects like tables, stored procedures, views, clusters, etc. This article aims to walk you through 'SQL VIEW' – one of the widely-used database objects in SQL Server.
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Of the five market segments, which three are more concerned about leading-edge technology within their respective segment expectations?
a Size Segment, Peformance Segment, and Traditional Segment
b Size Segment, Performance Segment, and Low End Segment
c Size Segment, Performance Segment, and High End Segment
d Low End Segment, Traditional Segment, and High End Segment
Answers
The correct answer is option C.
The three market segments that are more concerned about leading-edge technology within their respective segment expectations are the Size Segment, Performance Segment, and High-End Segment.
These market segments are more concerned about leading-edge technology because they are looking for products that have the latest and most advanced features. The Size Segment is looking for products that are compact and portable, the Performance Segment is looking for products that have high processing speeds and capabilities, and the High-End Segment is looking for products that have premium features and are considered luxury items.
In contrast, the Low-End Segment and Traditional Segment are less concerned about leading-edge technology. The Low-End Segment is looking for products that are affordable and the Traditional Segment is looking for products that are reliable and have a long lifespan.
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