Banking. Liam's chequing account had a balance of $3,500.00 on September 1st. After reviewing his September bank statement, he noticed there were a NSF for $45.00, a service charge of $9.95, and a note collected for $850.00. If there were two deposits in transit - one is $450.00 and one is $980.00, what is the reconciled chequebook balance on September 30th? a. $5,725.05 b. $4,025.05

Banking. Liam's chequing account had a balance of $3,500.00 on September 1st. After reviewing his September bank statement, he noticed there were a NSF for $45.00, a service charge of $9.95, and a note collected for $850.00. If there were two deposits in transit - one is $450.00 and one is $980.00, what is the reconciled chequebook balance on September 30th? a. $5,725.05 b. $4,025.05

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Jean deposited P2,000, P2,500 and P3,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.13 per annum. Determine the future worth of the deposit? Note: Interest is already shown in decimal form. Do not round in between solution. No need to put UOM and comma. Final answer round to the nearest WHOLE NUMBER.
Deposits are made to an account as indicated in the table below (i = 1% per quarter): End of qtr 0 (initial deposit) 1 2 3 4 5 a. Deposit P 100,000 100,000 100,000 0 150,000 0 End of qtr 6 7 8 9 10 Deposit 0 150,000 0 200,000 200,000 What will be the balance at the account at the end of the tenth quarter (that is, after the deposit of $200,000)? b. What one sum at the end of the fifth quarter is equivalent to the specified series of deposits?
follow instructions. don't forget to make the diagram
TIME SENSITIVE You are considering a generous offer from two banks for your savings account. Bank A is offering an interest rate of 6% p.a. Bank B’s rate is 6% p.a. compounded semiannually. For a deposit amount of $1,000 today, determine: 1.Bank B’s effective semiannual and yearly rates. 2.Your account balance at the end of 5 years for both banks. 3.Which bank you would choose to do business with and why.draw cash flow diagram.
You have a bank deposit now worth $4500.How long will it take for your deposit to be worth more than $8600 if: The account pays 6 percent actual interest every half-year and is compounded every half-year?
A payment of $870 scheduled to be paid today and a second payment of $1,160 to be paid in nine months from today are to be replaced by a single equivalent payment. What total payment made today would place the payee in the same financial position as the scheduled payments if money can earn 4.25%? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Equivalent payment $4 5. of 7 Next >
Janet deposited $12,000 in her savings account on June 15, 2018. The savings account earns her 2.50%, What would be balance of Janet's savings account on October 28, 2018?
don't provide handwritten solution
Please answer only handwritten
Show the answer in excel
4. Jenna has just entered collage and has decided to quit smoking. She wants to regain her health and save money in the process. She smokes two packs a day, which translates into roughly $30 per week. Suppose she makes weekly deposits of this money into a bank account that pays annual interest of 10%, compounded continuously. What will be balance of Jenna's account when she retires in 47 years? (Hint: If an initial amount of S. dollars is deposited in a bank that pays an annual interest of r, compounded continuously, then the future value, s(t), of the account satisfy the initial-value problem ds/dt=rs, S(0)-S,. Moreover, if deposits amounting to d dollars per year (made uniformly throughout the year) are made into the above account, then the future value of this new account, called an annuity, will satisfy dS/dt=rs+d, S(0)=S..
Compare the interest earned by $9,000 for six years at 7% simple interest with interest earned by the same amount for six years at 7% compounded annually. Why does a difference occur? The simple interest earned is $ ?