Literacy
Chapter 10 Review
Create and Design
Instructions
Choosing a financial i...
Business, 10.05.2021 19:50 jcross11nate
Literacy
Chapter 10 Review
Create and Design
Instructions
Choosing a financial institution for your banking needs is an important part of your overall financial plan.
To ensure you select the best institution that offers the services you want, it is helpful to create a
comparison chart. The best place to start is to familiarize yourself with local banks and credit unions in
your area by visiting their website or stopping into a local branch and speaking to a company
representative.
Choose two banking institutions in your area. Gather information about the services listed and complete
the form on the following page for each company. Then, answer the question based on your findings.
Answers: 1
Business, 21.06.2019 15:30
Walter wants to deposit $1,500 into a certificate of deposit at the end of each ofthe next 6 years. the deposits will earn 5 percent compound annual interest. ifwalter follows through with his plan, approximately how much will be in his accountimmediately after the sixth deposit is made?
Answers: 1
Business, 21.06.2019 15:50
2. you take $100 you had kept under your mattress and deposit it on your bank account. if this $100 stays in the banking system as reserves and if banks hold reserves equal to 10% of deposits, by how much does the total amount of deposits in the banking system increase? by how much does the money supply increase?
Answers: 3
Business, 22.06.2019 10:50
You are evaluating two different silicon wafer milling machines. the techron i costs $285,000, has a three-year life, and has pretax operating costs of $78,000 per year. the techron ii costs $495,000, has a five-year life, and has pretax operating costs of $45,000 per year. for both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $55,000. if your tax rate is 24 percent and your discount rate is 11 percent, compute the eac for both machines.
Answers: 3
Business, 22.06.2019 15:30
On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.
Answers: 3
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