Decide whether the statement makes sense. Explain your reasoning.The bank paid an annual interest rate (APR) of 6% but at the end of the year my account balance had grown by only 5.9%
What will be an ideal response?
No, the statement does not makes sense. The annual percentage yield would be equal to 6% if the interest were compounded annually or more than 6% if the interest were compounded more frequently. The annual percentage yield cannot be less than the APR of 6%.
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Solve the problem. Refer to the table if necessary.
Mark earned $72,978 from wages as a mechanic and made $3389 in interest. Calculate his FICA tax. If necessary, round values to the nearest cent.
A. $5631.96 B. $5582.82 C. $5842.08 D. $5548.93
Solve the problem.Budget Summary for the Wonderful Widget Company (all amounts in thousands of dollars)
Assume that for 2018, total receipts are $1,044,561, operating expenses are $541,042, employee benefits are $170,187, security costs are$126,783, and interest on debt is $63,000. Calculate the outlays for 2018.
A. $901,795.00 B. $1,945,573.00 C. $901,012.00 D. $1,818,790.00
Translate to an algebraic expression.Robbie drove his car at 70 mph for t hours. How many miles did he travel?
A. 70 - t
B. 
C. 
D. 70t
On August 1, 2016, Jason purchased machinery from Morgan for expanding its production operation. Morgan has given Jason three options for payment: a.$300,000 in cash nowb.$150,000 down payment now and $50,000 per year for the next ten years beginning August 1, 2017c.$100,000 now and $100,000 per year for five years beginning August 1, 2017? Required:Determine which of the above payment plans has the lowest present value. Clearly label all of your work. The effective annual interest rate is expected to be 12% during this period.
What will be an ideal response?