When computing an interest or growth rate, the rate will decrease with an increase in future value, holding present value and the number of periods constant
Indicate whether the statement is true or false
FALSE
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Partners Bank offers to lend you $50,000 at a nominal rate of 5.0%, simple interest, with interest paid quarterly. An offer to lend you the $50,000 also comes from Community Bank, but it will charge 6.0%, simple interest, with interest paid at the end of the year. What's the difference in the effective annual rates charged by the two banks?
A. 1.56% B. 1.30% C. 1.09% D. 0.91% E. 0.72%
Period cost and product cost are synonymous terms
Indicate whether the statement is true or false
The amount of federal income taxes withheld from an employee's gross pay is recorded as a:
A) payroll expense. B) contra account. C) current asset. D) current liability.
In the least squares equation, y=a+bX, a represents
a. the coefficient of determination. b. the variable cost per unit. c. the level of activity. d. the fixed component of a cost.