Anne is comparing savings accounts. One account has an interest rate of 1.2 percent compounded yearly, and one account has an interest rate of 1.2 percent compounded monthly. Which account will earn more money in interest?
1) the account that earns 1.2 percent compounded yearly
2) the account that earns 1.2 percent compounded monthly
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Anne is comparing savings accounts. One account has an interest rate of 1.2 percent compounded yearly, and one account has an interest rate ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Burr Publishers purchased a building on March 20, 20Y1, for $160,000. Other amounts related to this purchase are as follows: Price listed by seller on January 1, 20Y1 $180,000 Burr Publishers' initial offer to buy on January 31, 20Y1 $140,000
Answers (1)
In 1-3 sentences, explain the role of entrepreneurs in the economy.
Answers (1)
A store that offers a wide variety of shoes for men, women, and children would most likely be considered a (n) :
Answers (2)
How does a production possibility chart assist in outlining opportunity cost?
Answers (1)
Gatlin Manufacturing adds direct materials at the beginning of the production process, while conversion costs are incurred uniformly throughout the process.
Answers (1)
New Questions in Business
Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects periodically. This practice is an example ofA) cost-benefit trading. B) cooperative selling. C) reciprocity.
Answers (1)
The most prominent data manipulation language today is: A. Access B. DB2 C. SQL D. Query-building tool
Answers (1)
The revenue recognition principle dictates that revenue should be recognized in the accounting records: a. when cash is received b. in the period that income taxes are paid c. when it is earned. d. at the end of the month.
Answers (1)
Which of the following involves trading partial ownership interests for capital? A) Equity financing B) Debt financing C) Partnership financing D) Corporate financing
Answers (1)
Rockingham Motors issued a 30-year, 8 percent semiannual bond 3 years ago. The bond currently sells for 103.1 percent of its face value. The company's tax rate is 34 percent. What is the aftertax cost of debt?
Answers (1)