14 Answered Questions for the topic banking

Banking Math Sat Math Maths

01/04/21

Geometric Series and finance combo Critical Math.

(a) A geometric series has first term a and common ratio r. Prove that the sum of the first n terms of the series is: a(1-rn)/(1-r).Mr. King will be paid a salary of £35 000 in the year 2005. Mr.... more
Banking Business Finance

07/06/20

Mergers and Acquisitions create synergies. Critique this statement.

Mergers and Acquisitions create synergies. Critique this statement in view of the recent merger of CBA and NIC Bank to form NCBA Bank and the takeover of National Bank of Kenya by KCB Bank Group.
Banking Finance Loan

03/13/20

If i take loan on 3/11/20 for $5k, 36 months, apr 10.25%. How did they cal that mo pay is $162.82 for 1st 35 mo & final pay 36 mo is $162.79? What formula do they use or how they get that calculation?

The total finance charge is $861.43. Payments are due monthly. The daily rate is 0.028082. The first payment due date is 4/30/20. The payment is at the end of each month.

02/12/20

What does Compounded quarterly mean to do and 3-5 mean?

In this scenario you have $5000 to invest and you want to know which of the following investment situations will give you the most money at the end of 5 years. The interest rate for all the... more

07/21/19

Monthly compounding word problem

Jane Roznowski wants to invest some money now to buy a new tractor in the future. If  she wants to have ​$325,000 available in 6 years, how much does she need to invest now in a CD paying 4.85%... more
Banking

11/27/17

what is a bank statement?

This is a multiple choice question and the alternatives are as follows a. a form used to list money deposited b. a written record of cash spent  c. a deduction for handling an account d. the amount... more
Banking

01/06/17

Banking Word Problem

A bank has loaned out $500,000, part of it at 6% per annum and the rest of it at 11% per annum. If the bank receives $43,750 in interest each year, how much was loaned at 6%?

09/08/16

Really need help

David wishes to deposit $2000 in a bank for 5 years. Two banks caught his interests.    SBD BANK -8% simple interest for 1st year -4% simple interest for subsequent years   CBCO BANK -4%... more
Banking

08/08/16

what are non-banking financial institutions? Give five examples of such institutions in your country.

what are non-banking financial institutions? Give five examples of such institutions in your country.
Banking

03/18/16

Brandon Holoway Deposit the deposited the following in the bank: in bills 6 twenties, 8 tens, 12 fives, and 23 ones; in coins 18 half-dollars, 14 quarters and

19 dimes; checks, $75.00, $96.48, and $32.15. Find the total deposit.Must show all work for it.

Interest compounded annually

You place $800 in an account that earns 4% annual interest, compounded annually. How long will it be until you have $2000?
Banking

06/25/15

Money Order question, please help!

Can The bank prove I made a money order? I threw away the receipt a while ago but got a call from the hospital saying they did not receive the payment yet. I did pay it, and I did it right in front... more
Banking

01/31/14

On Banking

On February 2, you receive your bank statement showing a balance of $2,844.43. Your checkbook shows a balance of $2,964.77. Outstanding checks are $152.43, $342.05, and $95.10. The account earned... more

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