Corey deposits $1,000 in a savings account that pays an annual interest rate of 5 percent. Over the course of ayear, the inflation rate is 1.7 percent. At the end of the year, Corey hasa. $17 more in his account, and his purchasing power has increased by $10. b. $30 more in his account, and his purchasing power has increased by $50. c.$40 more in his account, and his purchasing power has increased by $33. d. $50 more in his account, and his purchasing power has increased by $33.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Corey deposits $1,000 in a savings account that pays an annual interest rate of 5 percent. Over the course of ayear, the inflation rate is ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The economy has an impact on___. A. which jobs are seasonal B. the reasons why workplaces are different C. employment and unemployement D. how strictly rules at work are enforced
Answers (1)
Conquest Company uses a perpetual inventory system. Conquest purchased $1,500 of merchandise on account and payment was made within the discount period. The credit terms were 2/10, n/30. Journalize Conquest's (a) purchase and (b) payment.
Answers (1)
Ou open a business selling art supplies and lessons. In your first month, you had the following total sales: $4,000 in paint, $2,000 in brushes, $1,500 in easels, and $1,750 in canvas.
Answers (1)
If annualized interest rates in the U. S. and Switzerland are 10% and 4%, respectively, and the 90 day forward rate for the Swiss franc is $.3864, at what current spot rate will interest rate parity hold
Answers (1)
Soda bubbles corporation makes and sells soft drinks. talia buys and drinks a soda beverage, which proves defective and injures her. one justification for holding soda strictly liable for the harm caused to talia by its defective product is that a.
Answers (1)
New Questions in Business
The primary goals of inventory managers are to maintain a sufficient quantity of inventory to meet customers' needs, ensure inventory quality meets customers' expectations and company standards, and minimize the cost of acquiring and carrying an
Answers (1)
Stacy Hanes is an African-American woman who has recently taken her first job and does not seem to like the work environment at all, Her colleagues put down her ideas at team meetings and refer to them as "stupid.
Answers (1)
The owner of a bicycle repair shop forecasts revenues of $160,000 a year. Variable costs will be $50,000, and rental costs for the shop are $30,000 a year. Depreciation on the repair tools will be $10,000.
Answers (1)
Sagon Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of September.
Answers (1)
What is the alternate name for income tax return form1040?
Answers (1)