Business, 20.02.2020 21:01, kfliehman1

South Central Bank pays 2.5 percent interest, compounded annually, on its savings accounts. Northern Bank pays 2.5 percent simple interest on its savings accounts. You want to deposit sufficient funds today so that you will have $1,500 in your account 2 years from today. The amount you must deposit today:

will be greater if you invest with South Central Bank.

is the same regardless of which bank you choose because they both pay the same rate of interest.

is the same regardless of which bank you choose because they both pay simple interest.

will be greater if you invest with Northern Bank.

is the same regardless of which bank you choose because the time period is the same for both banks.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 15:30, bhadd2001

Susan is a 5th grade teacher and loves getting up every day and going to work to teach her students. this is an example of a. extrinsic value b. interests c. intrinsic value d. external value

Answers: 2

continue

Business, 22.06.2019 16:20, ashleyprescot05

Stosch company's balance sheet reported assets of $112,000, liabilities of $29,000 and common stock of $26,000 as of december 31, year 1. if retained earnings on the balance sheet as of december 31, year 2, amount to $74,000 and stosch paid a $28,000 dividend during year 2, then the amount of net income for year 2 was which of the following? a)$23,000 b) $35,000 c) $12,000 d)$42,000

Answers: 1

continue

Business, 22.06.2019 16:50, amayarayne5

Arestaurant that creates a new type of sandwich is using (blank) as a method of competition.

Answers: 1

continue

Business, 22.06.2019 20:20, isabelperez063

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.

Answers: 2

continue

Do you know the correct answer?

South Central Bank pays 2.5 percent interest, compounded annually, on its savings accounts. Northern...